A new report from the Workplace Gender Equality Agency (WGEA) has shed light on the persistent gender pay gap in Australian workplaces. While 56% of employers have taken steps to reduce pay disparities, a staggering 79% still report gender pay gaps that fall outside the acceptable range of -5% to +5%.

The findings highlight particular concerns in high-paying industries, with finance and insurance standing out as some of the worst offenders. The sector recorded a 22.2% difference in average total remuneration in favour of men. The construction industry also showed significant disparities, reinforcing the challenges women face in securing equal pay in lucrative fields.

Across all sectors, the WGEA found that the total remuneration gender pay gap stands at 21.8%. On average, for every dollar earned by a man, a woman takes home just 78 cents, resulting in an annual shortfall of $28,425.

This year’s analysis includes CEO, head of business, and casual manager remuneration data for the first time. Without these additions, the total remuneration gender pay gap would have seen a 0.6 percentage point reduction compared to last year’s figures.

Beyond the workplace, the financial impact of the gender pay gap extends to homeownership. A CoreLogic report revealed that among women earning under $100,000, only 58.9% own homes, compared to 85.5% of those in higher income brackets. This underscores the long-term economic consequences of unequal pay.

The WGEA’s latest study covered data from 7,800 employers and 1,700 corporate groups, providing a broader picture of pay disparities across industries. Three-quarters of companies were found to have pay structures that favour men, particularly in higher-paying roles.

By incorporating both average and median pay gaps, the report offers a clearer view of problem areas and helps drive more targeted strategies for change. Internal pay reviews and discussions with employees have been identified as key tools in addressing these discrepancies.

“It’s encouraging to see that over 1,100 employers have met the target range for gender pay equity, but there’s still a long way to go,” said WGEA CEO Mary Wooldridge.

The report stresses the importance of understanding the unique factors contributing to each organisation’s pay gap, reinforcing the need for businesses to take a proactive approach in closing the divide.