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Gender Equity

The finance sector has a gender equity problem. Despite decades of awareness and progress in some areas, women continue to face structural and cultural barriers at every stage of their careers. From pay inequity and underrepresentation in leadership, to under-reported sexual harassment and the lack of support for carers - too many women are being held back. 

The FSU is fighting to change that. Through our gender equity campaign, we're working to expose the barriers, hold employers to account, and drive real change across our sector. 

Below, we break down six key barriers that continue to entrench gender inequity in finance - and show why action is urgently needed.

Six barriers to gender equity

Pay inequity remains entrenched in the finance sector

Despite years of awareness, the gender pay gap persists. Women are overrepresented in lower-paid roles and teams, while jobs that attract higher rates of pay, incentives and bonuses remain male-dominated. Pay systems and promotion decisions (including market-based rates or performance bonuses) lack transparency and often reinforce inequality, further disadvantaging women.

Workplace culture continues to disadvantage women

Workplace norms such as long hours, presenteeism, and in-office mandates disproportionally impact women - especially those with caring responsibilities. Sexual harassment and discrimination remain under-reported, while unconscious bias still shapes recruitment and career development (such as who is seen as 'leadership material').

Inconsistent support for flexible work and caring responsibilities

Flexible work is now more common but remains inconsistent, often limited to lower-paid and junior roles. Senior part-time positions are rare, while in-office mandates disproportionately affect women with caring responsibilities. Full-time office requirements for leadership create indirect structural discrimination, deterring women from these roles. Spending much of a career in part-time, low-paid work has lasting effects on both career progression and financial security.

Lack of accountability and transparency

Public reporting of gender pay gaps through the Workplace Gender Equality Agency (WGEA) is a positive step, but reporting alone won’t drive change. From 2026, large employers (500+ staff) must set and publish three targets - at least one numeric - to reduce gender inequality. Targets and accountability work, but real progress also requires transparency in pay rates and clear criteria for salary ranges tied to skills and outcomes.

Intersectionality and compounded disadvantage

Women who are also First Nations, culturally diverse, LGBTQ+, or living with disability face additional layers of disadvantage. These intersecting barriers are often invisible in workplace equity strategies, meaning the most marginalised women are left out of conversations about progress. Gender equity strategies must actively examine intersectionality and provide additional support for workers affected by compounded disadvantage.

Leadership remains dominated by men

Women remain underrepresented in senior and executive roles, with many stalling in middle management. The “glass ceiling” persists, reinforced in some institutions by a “boys’ club” culture that limits opportunities. This is known as vertical segregation. While the finance sector is gender balanced overall, most workers in the top quartile of earners are men (64%), while most in the bottom quartiles are women (67%).

Turning momentum into change

Smashing the gender pay gap

Our Smashing the gender pay gap campaign aims to reduce the gender pay gap one worker, one employer at a time so that women can fully and equally participate in the workforce.
Learn more

Breaking taboos

We’re Breaking taboos by advocating for workplace policies that support those affected by menopause and menstruation and breaking the stigma surrounding it.
Learn more

Frequently asked questions

Gender equality is the end goal: a world where everyone has the same rights, opportunities and outcomes, regardless of gender.

Gender equity is the process we use to get there. It recognises that different people face different barriers, so achieving fairness means taking targeted action - like improving parental leave, supporting carers, or addressing the gender pay gap. Equity is about creating a playing field where equality becomes possible.

If you’ve experienced sexual harassment at work - whether recently or in the past - you can contact the FSU Member Rights Centre on 1300 366 378 for confidential advice and support. We can help you understand your rights, explore your options, and take action if you choose to.

For immediate support, you can contact 1800RESPECT on 1800 737 732.

If the campaign brings up difficult feelings or experiences, we encourage you to talk with a trusted family member or friend. For urgent, confidential assistance, you can call 1800RESPECT (1800 737 732).

 

Where can I go for advice or to make a complaint?

You can seek support or lodge a complaint through the following organisations:

 

What if I feel unsafe in my workplace?

If you believe your workplace is unsafe, please contact the FSU Member Rights Centre on 1300 366 378 or email [email protected] for support.

Resources

State of play: Gender pay gap

Smashing the gender pay gap - Interactive workplace poster

Smashing the gender pay gap - Workplace game - (instructions) 

Impact of long term absence on the gender pay gap

State of play: Paid parental leave

Equal Pay Day - Frequently Asked Questions

Pay Transparency Myths/Facts

Quick Facts: Starting the conversation on pay secrecy

Workplace Gender Equality Agency (WGEA) - Gender Pay Gap Data

Australia has ranked last in an international gender pay gap study — here are 3 ways to do better (theconversation.com) 

Equal Pay Day 2023 information and explainer

FSU submission: Workplace Gender Equality Amendment (Setting Gender Equity Targets) Bill 2024

Recording: Inquiry into Workplace Gender Equality Amendment Bill 2024 22/1/25 (skip to 11.46)

FSU Report - The Price of Silence 

FSU event - IWD 2022: Shining a light on the cost of pay secrecy

Starting the conversation on pay secrecy guide

Why You Should Tell Coworkers Your Salary - Adam Ruins Everything

Further reading: 

Harvard Business Review: Can Transparency Laws Fix the Gender Wage Gap?

Women's Agenda: Pay Secrecy Feeds Pay Gaps. Transparency Can Change That.

Time: Should You Share Your Salary With Co-Workers? Here’s What Experts Say

Mercer: The Case For Pay Transparency. Why Sharing Is More Critical To An Elevated Employee Experience.

Forbes: Pay Transparency Is The Solution To The Pay Gap: Here's One Company's Success Story

PayScale: What Is Pay Transparency & Why Does It Matter?

National Bureau of Economic Research: Do Firms Respond to Gender Pay Gap Transparency?

Harvard Business Review: Research: Gender Pay Gaps Shrink When Companies Are Required to Disclose Them

IWD24 event: One too many - Online recording

‘One too many’ Sexual harassment in the finance industry. A report by the Finance Sector Union

Respect@Work: Sexual Harassment National Inquiry Report (2020) | Australian Human Rights Commission

Respect@Work online resources

Online recording: How the Finance Sector Union are leading the menopause conversation

FSU Menopause and Menstrual Policy Framework

Here's why inclusive workplaces need menopause support (womensagenda.com.au)

Menopause policies are being adopted in workplaces. Is Australia ready for the change? (ABC News)

Driving the change: Menopause and the workplace (Circle-In)

Menopause remains taboo in most workplaces. This needs to change (The Guardian)

Latest on the gender equity

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Authorised by Julia Angrisano, Finance Sector Union of Australia, Level 13, 380 La Trobe Street, Melbourne, VIC 3000.
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