Finder’s Equal Pay Day Report: Key barriers to overcoming the gender pay gap
Women continue to face significant hurdles around equal pay, according to a new report by Finder.
Finder's Equal Pay Day Report, launched in partnership with UN Women Australia, combines data from Finder's Consumer Sentiment Tracker (CST) with data from the Workplace Gender Equality Agency (WGEA) and Australian Bureau of Statistics (ABS).
The report uncovers the challenges women face with gaining access to equal pay and explores Australian attitudes towards the issue.
Simone Clarke, CEO of UN Women Australia, said the report underscores the persistent and pervasive nature of the gender pay gap in Australia.
"Addressing these issues requires a multifaceted approach, including improving access to affordable childcare, promoting flexible work arrangements, and challenging traditional gender roles and cultural norms.
"We must work collectively to dismantle the barriers that prevent women from achieving economic equality, ensuring that every woman has the opportunity to thrive both personally and professionally.
"We are so happy to work with Finder to conduct the research to uncover these insights which will hopefully start many meaningful conversations," Clarke said.
Below are some of the key findings from the report:
23% of Australians don't care that a gender pay gap exists
- Almost a quarter of the population (23%) – equivalent to 4.8 million people – aren't concerned about the gender pay gap in Australia.
- The data shows men are more than twice as likely to say they aren't worried – 16% of men 'don't care at all' about the gender pay gap, compared to 6% of women.
- A further 16% of men say they 'don't' care much' about the issue, compared to 7% of women.
Gender-based pay discrimination in the workplace
- More than 1 in 5 Australians (22%) say they have experienced or witnessed gender-based pay inequality in their workplace.
- More than half (52%) of the Australians who experienced or witnessed the discrimination reported it.
- Of those who reported the discrimination, 42% said action was taken however, disappointingly the majority (58%) said no action was taken.
- Worryingly, 15% didn't report inequality for fear of repercussions and a further 22% didn't because they didn't think any action would be taken.
Sarah Megginson, personal finance expert at Finder, said:
- "Australia clearly still has a long way to go in so many areas.
- "We are pleased to partner with UN Women to advance their priority work areas of advocacy and awareness.
- "It's more than just achieving pay equality – it's also about overall workplace equality and pushing back on entrenched misogyny and sexism."
Women continue to bear the brunt of unpaid care work
- ABS data from 2006 published by WGEA found that unpaid care takes up 64% of women's average weekly work time. This is compared to 36% for men.
- Almost 20 years later, unpaid care work still predominantly falls to women.
- Finder's Equal Pay Day Report reveals that women spend 16 hours on unpaid care work on average compared to 12 hours for men.
- However the starkest difference occurs during child-rearing years.
- Millennial (20 hours) and gen X (18 hours) women spend considerably more time on unpaid work compared to men (13 and 11 hours, respectively).
Sarah Megginson, personal finance expert at Finder, said:
- "The research clearly shows that women are much more likely to bear the brunt of unpaid care work during their child-rearing years.
- "The financial losses are hard to quantify exactly, but generally speaking, women are on the backfoot and bear the financial impact when a couple decides to start a family.
- "It's a big problem to tackle and one that requires many stakeholders to work towards a solution. But right now, one of the most impactful things you can do is to seriously engage with your finances.
- "Small but simple habits that you form now can make such a huge difference.
- "Putting aside $20 a week for 5 years is really achievable for most people, and assuming a 5% interest rate, it means you have almost $6,000 set aside by the end – enough for an overseas holiday, a second-hand car or just to have set aside for a rainy day."
Women twice as likely to be responsible for household duties
- Half (50%) of women say they are primarily responsible for household duties, compared to 26% of men.
- 63% of women say they primarily take care of the cleaning, compared to 37% of men.
- When it comes to laundry, 61% of women say the task primarily falls to them, compared to 39% of men who say the same.
- However, tasks such as taking care of the rubbish, gardening and lawn mowing, and outdoor cooking (e.g. BBQing) are much more likely to fall to men.
Having children and flexible work opportunities hinder women's earning capabilities
- Women (23%) are almost four times more likely to say having a baby has been detrimental to their earning capacity compared to men (6%).
- 1 in 5 (20%) Australian women admit choosing a job that's more flexible to care for their family has impacted their earning potential, compared to 9% of men who say the same.
- Interestingly, 7% of men say getting married has hindered their earning potential, compared to 6% of women.
- Slightly more men (8%) than women (6%) say working remotely has impacted how much they're able to earn.
Read Finder's Equal Pay Day Report here.
