Women have to work an additional 56 days…
…Just to earn the same annual salary as men.
Tomorrow (Friday 25 August) is Equal Pay Day.
It marks the extra 56 days after the end of the financial year that women must work, on average, to earn the same annual salary as men.
But how is this actually calculated?
This is calculated by deriving the difference between women and men’s average weekly full-time earnings as a percentage of women’s earnings and multiplying this figure by 365 days.
This differs from the gender pay gap, which is calculated as a percentage of men’s earnings. The gender pay gap across all industries sits at 13.3%.
Let’s break it down…
The gender pay gap for finance workers sits higher at 19%. Therefore, the finance industry’s Equal Pay Day is 24 September.
Unions continue to fight to close the gender pay gap, but there are also many things you can do in your workplace to help make it more equitable. Visit the Workplace Gender Equality Agency website for more information and ideas.
Stop sexism in the workplace
We’re also working to shine a light on and stamp out sexism and sexual harassment in the workplace. We want to hear how well you think the finance industry manages sexual harassment. We’d like everyone who works in the finance industry – regardless of your personal experiences – to complete this survey and rate how your employer handles sexism and sexual harassment.
Our anonymous survey is open to all finance workers (past and present) and will underpin our report on how the finance industry deals with sexual harassment (to be released in March 2024).