Equal Pay Day - 1 September 2011

Today is "Equal Pay Day" - today was specifically chosen to highlight the fact that, in general, women have to work an extra 63 days after the end of the financial year to earn the same pay as their male equivalents earned by 30th June.

Susan Wareham McGrath notes that the equal pay issue seems to have been lost in the concept that the gender gap has closed since Julia Gillard became Prime Minister (read the full article here):

While this inequity has been evident for as long as I can remember, since Julia Gillard’s ascendancy to the Prime Ministership, I’ve noticed a growing – and incorrect – belief, amongst both men and women, that Australia’s gender gap has closed.

It is interesting that the issue of gender equality in pay has been overshadowed by some prominent females in traditional male roles, BUT it doesn't alter the reality is:

Not sure about the gender pay gap? Here are the facts:

• A 17% gender pay gap costs the Australian economy around $93 Billion
• Some women in CEO and finance positions earn less than half of their male equivalents
• The average superannuation payout to a woman is projected to be $150,000, that’s half of the average payout to a man in 2010-11
• The 17.2% gender pay gap is a national average that opens up to over 30% in some industry sectors
• Equal pay for women raises family income which means more money to spend on food, housing and child care
• Single mothers and working families lose thousands of dollars annually to the wage gap
• A NATSEM report released in March 2010 shows that simply being a woman accounts for 60% of the difference between men's and women's earnings
• If things don't change, the average 25 year old male will earn $2.4M over the next forty years; for the average 25 year old female, that figure is just $1.5M

(source: http://www.equalpayday.com.au/)

So, now that we have established that there is still a very huge issue to address, what should female job seekers in Australia be doing about it, to ensure they are mitigating long term financial loss??

If you are at the start of your career:

Obviously you need to give thought about the type of industry and role, but also give some thought to what will give you flexibility in the future! Many women don't stop to think about roles in traditionally male dominated industries, eg: jobs in technical area's, science and trades, but there are definitely advantages to the pay expectations of these types of roles compared with the traditional "soft" or "feminine" stereotype.

When you are established and looking at ensuring your financial future:

Do your research! Find out what the market is paying for your level of qualification/s and experience. Ensure that you know what your current employer or potential employer's EOWA policies are! Find out if there is an equal pay for equal work standard, find out what the gender balance is and find out if there is transparency for those people in comparable roles!

When you are interviewing for a new position:

Make sure that you are prepared to ask for what is fair and equal pay! Again, do your research, know what is fair in the market! I would suggest ASKING the employer for them to give you a figure BEFORE you state what you are wanting, this way you can ensure that you aren't underselling what the company may actually be willing to pay!

Other elements for women to consider for your future:

It is a fact of life that if women choose to have children, there will be some time out of the paid workforce. Most women I know have ended up taking more time off than they planned to prior to having children. Considering job roles that will allow you flexibility, such as part time or work from home options! If you are pregnant or thinking about starting a family - think about how you can contribute to your employer on a flexible basis and don't be afraid to suggest this to your employer before you take maternity leave!

Overall, women deserve to be paid the same as men in the same role, so make sure that you are not afraid to ask to be paid the same as a man doing the same job!