Female bosses earn less than males

business, women, womanWomen are falling further behind in pay equality as they climb the corporate ladder.

Senior female managers earn an average of $93,000 less each year than their male counterparts, a gap of 26.5 per cent, according to a new report by Curtin Unviersity’s Bankwest Curtin Economics Centre, in collaboration with the Workplace Gender Equality Agency.

Pay gaps among managers are exacerbated by a greater share of discretionary pay, including bonuses, being awarded to men, the report said.

The report shows there’s a 16.2 per cent gender pay gap between full time employees in the retail industry, an increase from 15.5 per cent for retail last year.

For top-tier managers, nearly $40,000 of the difference in annual pay is made up of additional remuneration including bonuses.

“Not only do female-dominated organisations tend to be lower paid, but this analysis shows that in workplaces with heavily female-dominated management teams there are large gender pay gaps in favour of men,” BCEC Principal Research Fellow Rebecca Cassells said.

“It seems that where the men are few, they are more highly valued.”

WGEA director Libby Lyons said the report showed workplaces witha greater gender balance in their leadership teams have a smaller pay gap.

Gender pay gaps were 10 per cent on average in organisations with a balanced representation of women in senior leadership roles.

And the research shows mining – Australia’s most male-dominated industry – awards the highest average pay to women.

Women employed full-time in the mining industry earned $139,053 in 2015/16 on average.

“We must address the stereoptypes dictating the work women and men ‘should’ do, if Australia is to meet the social and economic challenges in the decades ahead,” Lyons said.

The report was based on 4,697 reports submitted on behalf of more than 12,000 employers, from April 2015 to March 2016, capturing four million employees, or around 40 per cent of the workforce.

Report co-author and BCEC Director Professor Alan Duncan said the findings present some of the strongest empirical evidence to date that improved gender pay outcomes are driven by companies promoting greater gender equity in senior leadership roles.

“Organisations that increased the share of women in executive leadership roles by more than 10 per cent between 2015 and 2016 recorded a reduction in the organisation-wide gender pay gap of 3 percentage points over the course of a single year,” Professor Duncan said.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

Comment Manually

Twitter

Coles has a new online shopping channel called Coles & Co. Here's what it entails #retail #ausbiz https://t.co/0ael5z3XdE

1 hour ago

The conversion of Target stores to Kmarts has begun. At the end of July, Kmart unveiled a new format - K Hub - on t… https://t.co/kzvBhsGdhX

17 hours ago

The ACCC will allow members of the ARA and NRA to collectively negotiate rents until September 2021. Retail leaders… https://t.co/ztCqWR6SN0

18 hours ago