A new survey by Lloyd Morgan, a recruitment agency, found that men in the finance sector in Australia are not only more likely to receive bonuses than women (52% for men vs. 44% for women) but those bonuses are also triple the amount paid to women.
To make matters worse, the bonus gap in the finance sector is actually increasing. Last year, the gender pay gap in finance sector bonuses grew by 28%. In Australia, the gender pay gap in the finance sector is nearly twice the national gender gap (across all sectors).
Nonee Walsh of ABC News Australia explains that due to the gender pay gap in Australia, women would need to work an additional 64 days per year to earn the same pay for the same work as their male peers.
Given these statistics, it’s not surprising that Australia ranked low in the 2012 list of the best and worst places to be a woman on earth. In the list of the best developed countries to be a woman, Australia ranked 32nd out of 44.
What do you think? Are you surprised by this news? Leave a comment and share your thoughts on the gender pay gap in the finance sector, in Australia, and around the world.