What is equal pay day? We talk the important gender pay gap, as well as what YOU can do to switch things around.
What is Equal Pay Day?
Equal Pay Day is the day on which women must work past the end of the previous financial year to match men’s annual pay.
Of course, this is an average but what’s shocking to see is that this year, Equal Pay Day lands on 31st August. This means that this year, women must work an extra 61 days to match their pay to their gender counterpart.
What’s even more shocking? The gender pay gap has increased since February 2021 by 0.8 to reach 14.2%.
Don’t worry, that surprised us too.
To put things into perspective, this means that Australian women are, on average, $261.50 worse off than men per week.
So what can you (or anyone else for that matter) do about the gender pay gap?
#1 Be more transparent
The gender pay gap, or discussing any pay for that matter is often the elephant in the room when it comes to applying for jobs, asking for pay rises or even discussing with your family and friends across the dinner table.
Instead, what we should be doing is talking about it. Only then will it be more likely for these differences to come to light for everyone from employers to those who aren’t aware of this ongoing issue.
#2 Push for equality – and not just financial
One of the many reasons the gender pay gap is so high is because of gender inequality in the workplace.
Whether employers believe a woman can’t do a job because they are not strong enough, clever enough or our pet hate, don’t stereotypically ‘fit the role’, financial inequality isn’t the only issue at hand.
Let’s tackle these together and fight for equality for women. Why not check out these incredible women doing amazing things? We dare you not to be inspired.
#3 Do your research
It’s all well and good reading these stats, but why not take it further?
Take a look at the Australian Government’s page WGEA (Workplace Gender Equality Agency) and have a look at what action they are taking in several equality spaces such as Parental Leave, Women in Leadership and Sexual Harassment at Work. One of these will likely resonate with your and be something you’d like to support.
#4 Switch to equality
There are a few switches you can make when it comes closing the gender pay gap, but this particular one is easy, and definitely our favourite.
Verve Super is a superfund created by women and dedicated to equality. Not only are they shifting away from investment in fossil fuels and destructive industries to support renewable energy and sustainable projects, they actively invest in social housing, loans for women’s small businesses in low-income countries and more. They’re also leaders in investing in women through companies that lead on diversity & inclusion.
So what are you waiting for? Whether it’s taking action, following inspirational women in leadership or having a simple conversation with your employer, you can help close the gender pay gap and ensure Equal Pay Day is a little less far away next year.