Women are vastly underpaid over their lifetimes and missing out on top management roles while pay parity with men remains elusive, according to research out today.
Data from the Workplace Gender Equality Agency (WGEA) shows that across all generations, less than 50 per cent of women are working full time and earn consistently less than men in every age bracket.
The research shows the gender pay gap for women aged 45 to 65 is about $40,000 a year and women who win chief executive roles earn an average $93,000 less than their male counterparts.
The bleak data shows that if the trend continues millennial women in the workforce will earn just 70 per cent of male take-home pay by the time they turn 45.
WGEA director Mary Wooldridge told the ABC the report is the latest evidence that "the blokes club" is alive and well.
"Oh, it absolutely is. And that happens in many different shapes and forms," Ms Wooldridge said.
"But it also not only has an impact for women, it also has an impact for employers who are losing access to this amazing talent pool of capable meritorious women.
"We work hard to try and make the case for equity day in and day out. But some companies still prioritise other issues and other work and aren't committed to this."
WGEA's new report, which looks at the gender pay gap by age, shows the gap widens significantly when women turn 35, and earn $7.78 for every $10 earned by their male counterparts.
Data contained in the report shows the pay gap worsens over the next 20 years before there is a minor improvement once women hit 65.
'Significant work to do'
Minister for Women Katy Gallagher issued a statement saying the WGEA report "paints a concerning picture" and there was "significant work to do".
"It finds, yet again, that the gender pay gaps favours men across every industry and occupation in Australia, it also continues at every age and life stage," Ms Gallagher said.
Ms Gallagher said the Albanese government was committed to closing the gender gap and will strengthen the Fair Work Commission's ability to use the Fair Work Act to order pay rises for underpaid women workers.
Ms Wooldridge said it was disappointing that some company boards, chief executives and senior management had not taken gender pay equity seriously enough.
She told the ABC she occasionally encountered resistance from senior women and said some companies might have used the pandemic as cover.
"Sure, we have sceptics across the board. But as in any issue, there's always a spectrum," she said.
"But there's some amazing leading organisations who are taking very proactive steps.
"While employers may have been challenged and prioritising other issues through the pandemic, they won't be able to remove gender equality as a core part of their strategic discussions now."
Ms Wooldridge said the Fair Work Commission's recent decision to increase the minimum wage by 5.2 per cent while helping women in low-paid jobs, also highlights inequities in the system that discriminate against women.
"There's no doubt that industrial segregation is a significant contributor to the gender pay gap," Ms Wooldridge said.
"In fact, somewhere in the order of nearly 39 per cent of the gender pay gap is due to the industrial and occupational structures that we have in our workforce."
