FEAR & GREED | Business News Q+A: What will it take to close the gender pay gap?
Aug 18, 2025
Elizabeth Broderick, former Australian Sex Discrimination Commissioner and founder of the Champions of Change Coalition, discusses the urgent need to close the gender pay gap as Equal Pay Day is recognized. She highlights the current 11.5% disparity while addressing sector-specific issues and the broader societal implications of achieving pay equity. Broderick emphasizes essential policy changes, including parental leave and childcare access, and outlines actionable steps for leaders to foster pay equality within organizations.
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What The Pay Gap Actually Means
- The gender pay gap is not about unequal pay for the same job, which has long been unlawful.
- It reflects average differences driven by promotion rates, care responsibilities and industry segregation.
Averages Hide Big Sector Gaps
- Australia's overall gender pay gap is the lowest on record at 11.5%, but averages hide wide industry variation.
- Some sectors like finance and insurance still show gaps above 20% while government narrows the national average.
Closing The Gap Benefits Everyone
- Closing the gender pay gap boosts productivity, family resilience and aggregate demand.
- When women earn appropriately they build household economic security and increase spending that lifts the economy.