Pay Equity continues to be an international concern. While Canada continues to struggle with ensuring female job classes are paid equitably to their male comparators, this issue spans continental borders.
A recent Australian equity report finds that women still lag behind men in pay. Some of the findings from the report are discussed below:
- More women than men end up completing their post-secondary education and often attain more advanced qualifications than men.
- When female university graduates enter their career, their median starting salary is $5000 less on average, than their male counterparts.
- This wage gap continues to grow into retirement, where eligibility for retirement is $85,000 less than it is for men.
- The report also indicates that women rarely make it to the top of the organizational hierarchy. In Australia, only 3 percent of the top 500 companies are managed by women.
Here is a video discussing some of the details of the report: