Gender pay gap remains too wide for accountants despite remuneration increases

A recent survey has found that despite pay rises occurring across the board, a wide gender pay gap continues to persist for those in the accounting profession.

For accountants across both Australia and New Zealand, the gender pay gap continues to remain stubbornly wide, according to the latest Chartered Accountants Australia and New Zealand (CA ANZ) Remuneration Survey Report.

Data from the report shows that in the accounting profession, the gender pay gap continues to be evident, with it residing at 18 per cent in Australia – resulting in men earning $16 per hour more than women. In New Zealand, the figures are worse, at 22 per cent – which accumulates to $19 per hour more.

The imbalance in equity partnerships was pinpointed as a direct contributor to this gap. Women hold just 23 per cent of equity partnerships in Australia, whereas in peak legal organisations, equity partnerships are held by 29 per cent of women.

Although these figures are discerning, members that partook in the survey noted the need to respond to this issue, with 55 per cent of respondents who acknowledged the gender pay gap also calling for more women in senior leadership roles, as well as greater pay transparency.

“There is clearly more work for all of us to do to close the gender pay gap,” said CA ANZ chief executive Ainslie van Onselen.

“It will involve education about the gender pay gap, with a particular focus on engaging senior leaders, to understand the issue and commit to driving solutions.”

Respondents themselves listed systemic bias as the key perpetrator for the persistent gender pay gap, followed by carer responsibilities. Parental leave was noted by 65 per cent of women respondents as something that had a significant career impact on them, compared to 35 per cent of men who typically take less time away from their careers.

Across the industry, however, a number of workers were rewarded with remuneration increases over the past year. The data showed that 58 per cent of respondents reported receiving a pay rise over the previous year, with 42 per cent of those aged 20 to 29 reporting a 7.6 per cent pay increase, compared to 12 per cent of those aged over 50.

The more experienced workers in their accounting space – those with six to 10 years of experience – reported a significant increase in total median remuneration, to $126,880 in Australia.

Yet van Onselen clarified that although these remuneration increases may be occurring across the industry, a key priority must be a pathway towards narrowing the persisting gender pay gap the right way.

“To address the gender pay gap, we must create strong pathways into and through the profession for women and enable both men and women to take on career duties. We also need to continue to foster inclusive workplaces where a person’s talent is not overlooked by traditional biases and inequitable access to opportunity,” said van Onselen.