In 2024, November 18 marked the beginning of the gender pay gap for women in Australia, as they started working for free until year-end. New laws require companies with over 100 employees to publish gender pay gap data, promoting transparency and understanding.
A dark day on Australia n calendars came around recently. It’s not officially marked down, and no alerts are issued. But for 48.7 per cent of the workforce who happen to be female, November 18 marked a significant moment in 2024.
This meant that, for the first time, workers had a clear picture of how their employer and industry were performing. It also meant that companies and sectors dragging their feet could no longer avoid the subject. To be clear, the gender pay gap is not about equal pay . Rather, it’s about quantifying the difference in earnings between men and women in the workforce, and it is done by comparing the average pay for both genders.
This is important for two reasons: first, because Australia has among the highest rates of part-time workers across all OECD countries; and second, because penalty rates, bonuses and other incentives comprise a substantial portion of many peoples’ take-home salaries., for example, the average pay gap when looking at base salaries was found to be 25 per cent , but grew astronomically to almost 50 per cent after bonuses were factored in.
Of course, the reasons for this enduring gap are many. Some experts believe the most common factors at play are women being more likely to take time out of their careers to have children, and being more likely to work part-time.challenged this, showing that women were likely to be paid 15 per cent less than their male colleagues, even when their levels of education, age and family life are the same.
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