New Workplace Gender Equality Agency (WGEA) data

02 March 2026

New Workplace Gender Equality Agency (WGEA) data confirms gender inequality remains entrenched across the finance industry, with women earning on average $53,549 less per year than men.

Despite women making up 53% of the finance and insurance services workforce, the median total gender pay gap remains at 20.9%, one of the highest in the industry. Only 13% of CEOs in the sector are women.

All of the big four banks have reduced their gender pay gap in the past 12 months, demonstrating that mandatory public reporting is having a positive impact.

Westpac remains the big bank with the worst gender pay gap at 28.1%, only one per cent bigger than CBA’s 27.1%. ANZ’s gender pay gap reduced slightly to 18.9% while NAB leads the way for the big four banks with a gender pay gap of 16.9%.

Super funds (not-for-profit, industry funds that put profits back into the hands of Australians) have the lowest gender pay gap across the industry, with most sitting at single digit gender pay gaps. While Aware Super has the worst gender pay gap of the super funds (19.9%), that’s still 8% better than the bank with the worst gender pay gap, Westpac.

The finance employer with the most improved gender pay gap is Australian Mutal Bank (AMB) who reduced their gender pay gap from 19.8% to 9.6%.

See a full breakdown of finance employer gender pay gaps below.

Insurance
Employer	Total remuneration gender pay gap (2023-24)*	Total remuneration gender pay gap (2024-25)*	Gender pay gap change over past 12 months**
HBF Health	38.9%	35.9%	-3%
Resolution Life	26.6%	27.1%	+0.5%
QBE	26.0%	25.6%	-0.4%
Auto & General	27.9%	21.7%	-6.2%
IAG	24.2%	24.5%	+0.3%
Zurich	24.7%	20.8%	-3.9%
Youi	15.7%	14.1%	-1.6%
RACWA Holdings	22.1%	20.3%	-1.8%
Suncorp staff*	20.7%	18.2%	-2.5%
Allianz Australia	11.9%	11.2%	-0.7%

*Suncorp split insurance/banking since last data release.

Mutual banks
Employer	Total remuneration gender pay gap (2023-24)*	Total remuneration gender pay gap (2024-25)*	Gender pay gap change over past 12 months**
Regional Australia Bank	37%	34.1%	-2.9%
IMB Bank	32.9%	27.4%	-5.5%
Police and Nurses Limited	21.6%	22.6%	+1%
TMBL	24.6%	21.4%	-3.2%
Hume Bank	30.7%	32.7%	+2%
MyState Bank	24.8%	21%	-3.8%
Police Bank	13.6%	12.1%	-1.5%
Community First CU	22.8%	23.7%	+0.9%
Defence Bank	22.1%	22.3%	+0.2%
Australian Mutual Bank	19.8%	9.6%	-10.2%
Heritage and People Choice Limited Bank	27.2%	23.2%	-4%
Qudos Bank	11.3%	12.2%	+0.9%
Beyond Bank	12.6%	14.3%	+1.7%
Bank Australia	15.2%	12.7%	-2.5%
Employers Mutual Management	4.8%	2.7%	-2.1%
Bank Vic (Police Financial Services Limited)	20.3%	21.9%	+1.6%

Superannuation
Employer	Total remuneration gender pay gap (2023-24)*	Total remuneration gender pay gap (2024-25)*	Gender pay gap change over past 12 months**
Aware Super	23.5%	19.9%	-3.6%
Host-Plus Pty	16.3%	13.9%	-2.4%
UniSuper	19.9%	17.6%	-2.3%
CBUS (United Super Pty Ltd)	14.9%	14.4%	-0.5%
H.E.S.T. Australia	8.7%	8.4%	-0.3%
AustralianSuper	8.3%	8.6%	+0.3%
Brighter Super	20.7%	12.6%	-8.1%
CareSuper	12.7%	15.9%	+3.2%

Banks
Employer	Total remuneration gender pay gap (2023-24)*	Total remuneration gender pay gap (2024-25)*	Gender pay gap change over past 12 months**
ING	29.5%	26.8%	-2.7%
Bankwest (CBA Stats)	27.8%	27.1%	-0.7%
CBA	27.8%	27.1%	-0.7%
Westpac	29.3%	28.1%	-1.2%
Bendigo Adelaide Bank	24.8%	26.3%	+1.5%
ANZ	21.5%	18.9%	-2.6%
BOQ	20.6%	22.2%	+1.6%
NAB	18.0%	16.9%	-1.1%

The finance industry has a gender equity problem. The gender pay gap isn’t…

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