No, the gender pay gap is not the same as equal pay. Equal pay means employees are paid the same for performing the same work or work of equal value, a requirement in Australia since 1969. The gender pay gaps, however, measures the difference in average or median pay of women and men across various roles, industries, and the workforce as a whole.
Resources for you
Download the toolkit
Our free toolkit offers equal pay insights and actionable steps for achieving equality in the workplace.
Hand it to HR
Email your HR team or senior leaders using our template to encourage your workplace to act on closing the pay gap and share the toolkit.
Explore the data
Get to know the latest stats on workplace equality in Australia from the government’s Workplace Gender Equality Agency.
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Our economy thrives on the unpaid labour of women+. The earnings gap leaves women retiring with less. It's unjust, plain and simple, and it compounds over a lifetime.
Christina Hobbs, Verve Super Founder
Enough is enough: Women deserve equal pay now.
So, what exactly is equal pay day?
Equal pay means employees are paid the same for performing the same work or work of equal value, a requirement in Australia since 1969.
Despite that, on Equal Pay Day, August 19, we confront a harsh truth: women must work 50 extra days a year to earn what men do. The 2023 Workplace Gender Equality Agency (WGEA) stats don't lie. Men earned an average of $1982.80 weekly, while women earned only $1744.80. That’s a difference of $238, adding up to $12,376 a year stolen from women’s pockets, or seven weeks of work shortchanged. Why? Because women’s work has been undervalued for far too long—hello, 21.7% gender pay gap! Even more shockingly, some companies have pay gaps of up to 40%.
Want to learn more about why the pay gap exists? We got you!
78c
what women earn for every $1 a man makes.
21.7%
the gender pay gap in 2024.
50%
of employers have a gender pay gap over 9.1%.
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Equal Pay
FAQ
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Is the gender pay gap the same as equal pay?
What is equal pay?
Equal pay means women and men receive the same compensation for the same role or work of equal value. In Australia, this has been a legal requirement since 1969. The gender pay gap, however, reflects ongoing disparities that go beyond equal pay.
What makes Verve better for women+?
Before launching Verve, we listened to Australian women+ from diverse backgrounds to understand their needs from a financial service provider. Here’s how we serve women+ better:
> Advocacy for equality: We champion gender equality, from pushing for board diversity via our screening to closing superannuation and pay gaps.
> Empowerment and support: We offer financial coaching and a nurturing community at no extra cost, helping members navigate major life transitions such as starting a family or going through a separation.
What is the gender pay gap?
The gender pay gap reflects how we value men’s and women’s contributions at work. Expressed as a percentage or a dollar figure, it highlights the earnings disparity between men and women. Closing this gap is crucial for Australia's economic future and for our goal of a fair, equal society, as it ensures a more equitable workforce, drives productivity, and unlocks the full potential of all talent, driving sustainable growth and innovation.
Is the gender pay gap data inclusive of all employees, including non-binary individuals?
No, WGEA's gender pay gap data currently focuses on women and men. However, since 2020-21, employers can report non-binary employee data voluntarily. The proportion of employers doing so jumped from 8.8% in 2020-21 to 19% in 2022-23. Similarly, non-binary representation in the dataset grew from less than 0.1% to 0.2%. These strides show growing recognition of gender diversity in the workplace. However, with non-binary numbers still small and reporting being optional, this data isn't yet included in the gender pay gap analysis.