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InvestorDaily — Gender pay gap remains ‘significant and persistent’

InvestorDaily
29 August 2022 is Equal Pay Day. Equal Pay Day marks the 60 additional days from the end of the financial year that Australian women must work, on average, to earn the same annual salary earned by men.

Unfortunately, the pay gap between men’s and women’s salaries remains unequal at 14% Australia-wide, leading to a significant difference in superannuation balances, despite women having attained higher education levels.

The Australian Bureau of Statistics (ABS) has released data this week showing women’s full-time adult average weekly ordinary time earnings were 86% of that of men. Furthermore, the wages gap has led to a gap in superannuation levels, with women’s median superannuation balance standing at $168,000 compared to $208,200 for men in the 2019-20 financial year, the ABS data show.

Kris shares with the the InvestorDaily, Financial Standard and Advisor Voice for actions to consider to eliminate the gender gap once and for all.

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