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Damning gender pay gap results for finance

The gender pay gap in Australian workplaces has been released by the Workplace Gender Equality Agency (WGEA) for the very first time, and the results are damning for the finance industry’s biggest employers. 

 

You can view a breakdown of the gender pay gap for employers in the finance industry below. 

Insurance

 

EmployerMedian Base GPG 2024Median Total Rem 2024
HBF Health40.10%38.00%
BUPA Health services33.80%33.70%
Resolution Life31.00%31.00%
QBE24.00%25.70%
Auto & General31.80%25.20%
IAG27.50%25.20%
Zurich24.20%22.90%
Youi25.30%20.70%
RAC WA20.80%20.10%
Suncorp20.50%20.10%
RACQ Operations16.00%16.20%
Allianz13.00%13.40%
IFS0.60%0.60%

 

Mutual banks

 

EmployerMedian Base GPG 2024Median Total Rem 2024
Regional Australia Bank35.10%37.20%
Unity Bank26.70%35.50%
IMB Bank33.30%33.10%
Police and Nurses Limited25.30%28.10%
TMBL28.30%27.60%
Hume Bank27.40%27.40%
MyState Bank27.80%27.00%
Police Bank27.30%26.90%
Community First CU27.30%25.90%
Defence Bank24.30%25.00%
Australian Mutual Bank20.30%24.60%
Heritage and People Choice Limited Bank22.50%23.50%
Qudos Bank14.80%18.20%
Beyond Bank9.10%9.10%
Bank Australia7.90%8.50%
Employers Mutual Management3.20%3.20%

 

Superannuation 

 

EmployerMedian Base GPG 2024Median Total Rem 2024
Aware Super21.30%23.60%
Hostpulus22.90%22.30%
UniSuper22.70%21.70%
CBUS (United Super Pty Ltd)14.20%14.80%
Link Administration Rss Pty Ltd12.00%11.80%
HESTA11.30%11.10%
AustralianSuper7.10%8.00%
Care Super2.40%6.80%

 

Banks

 

EmployerMedian Base GPG 2024Median Total Rem 2024
ING36.10%32.20%
Bankwest (CBA Stats)29.80%29.90%
CBA29.80%29.90%
Westpac27.00%28.50%
Bendigo Adelaide Bank24.00%24.80%
ANZ22.70%23.10%
BOQ20.90%21.90%
NAB16.40%18.80%

 

Or find your employer’s median gender pay gap on the WGEA website here.

The Financial and Insurance Services median total remuneration gap (26.1%) has marginally increased in the past 12 months (from 25.9%) demonstrating that our industry isn’t taking this problem seriously, even knowing individual employer data would be open to scrutiny. 

This is a persistent problem that finance employers have refused to address for years, choosing instead to redistribute billions of dollars in profits each year anywhere else except into the pockets of women in their workforce. 

Through our smashing the gender pay gap campaign, we’re committed to removing the barriers that prevent women from fully and equally participating in the workforce. There are many things you can do in your workplace to help make it more equitable. You can start by: 

Let’s hope employers see these results as an opportunity to walk the walk and fix the problem rather than just talk about it. 

Find out more on our campaign page 

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