Finance sector must address gender pay gap

The Finance Sector Union (FSU) is determined to continue the fight for Equal Pay as employers throughout the financial services sector fail to address the gender pay gap.

Finance Sector Union National Secretary Julia Angrisano said in an industry in which women pay a major role, they remain well behind men when it comes to pay.

“Today Australian workers mark Equal Pay Day – marking the additional 59 days women have to work from the end of the last financial year (30 June) to earn the same amount as men,” Ms Angrisano said.

“The date is worked out using data from the ABS which compares average base salaries of men and women, revealing a gender pay gap of 14 per cent.”

“Unfortunately when we single out our industry, the gender pay gap is a whopping 24 per cent.”

“And so, when we in financial services apply the same formula to this figure, Equal Pay Day for the finance sector falls on 26 September.”

Ms Angrisano said the gender pay gap had another negative impact for women – the super gap.

“I have been travelling around Australia speaking to groups of women facing the same issue: low super balances that are exacerbated by the pay gap and companies with no real plans about how to deal with this issue.”

“MP Jason Falinski’s

/Public Release.