Today is Equal Pay Day 2020!


Women need to work an extra 59 days a year to earn the same as men.

The Workplace Gender Equality Agency (WGEA) has earmarked Friday 28 August as Equal Pay Day.

The date of Equal Pay day is determined by the WGEA based on the gender pay gap reported by Australian employers.

For the 2019–20 financial year the gender pay gap is 14%. This means that this year Australian women needed to work an additional 59 days to earn, on average, the same amount as men during the last financial year.

Not sure about how the gender pay gap is calculated or if it’s even REAL? Check out this short 3 minute video produced by the WGEA to explain how they calculate the gap.

How does the Financial and Insurance Services Industry stack up?

Women workers made up 55% of the industry workforce.

The gender pay gap on base salary (full time workers) is 22%, while the gap on total remuneration (including bonuses, STIs etc) is 29%.

The finance industry Equal Pay Day falls on 18 September, representing an additional 80 days that women working in finance would need to work, on average to earn the equivalent base salary of men working in finance.

What is the impact?

Along with a lifetime penalty of earning less money (on average) than their male counterparts, Australian women retire with 47% less superannuation (on average) than Australian men, they also live (on average) 5 years longer.

Superannuation tax concessions cost Australian taxpayers approximately $41 billion, only 1/3 of that money is claimed by women, yet the Federal Minister says she is “ambivalent” to increasing the superannuation guarantee.

During the global pandemic we’ve seen Australian women losing their jobs, and their hours of work at much higher rates than Australian men. There is also a disproportionate number of women who are at risk of contracting the virus because they are working in essential industries that are female dominated, think nurses, cleaners, carers, teachers and retail workers who continue to work even in lockdown.

Call on Government to honour the legislated 12% Super increase

This year, on Equal Pay Day we encourage you to sign the FSU petition calling on the government to guarantee they comply with current legislation, their own policy as well as their election promise to maintain the stepped increase to Superannuation due to start on 1 July 2021. Sign here.

Still unsure about the gender pay gap or equal pay?

Check out the WGEA resources available here.