Gender pay gap hurting Australian women: Females earn $264 per week less than men, survey highlights

As Labor presented its budget and put gender equality at the forefront, women's super balances in Australia have significantly suffered because of the gender pay gap. A survey found that 24% of women in Australia have above $100,000 super balance. Men will likely have more super balance.

A survey conducted by an online financial broker, Savvy found out that 24% of women in Australia have above $100,000 super balance compared to 44% of men. Additionally, the women with less than $50,000 super balance were 45%, and the men were 32%.

Adrian Edlington, a money expert, said the survey highlights the gender pay gap in terms of savings and super balances. The gender pay gap is over 14%, as Australian women earn $263.90 less per week than men. It has the power to put a lot of pressure on women in times of interest rate hikes and inflation.




The survey suggested that 13% of men and 19% of women have under $10,000 as their super balance. On the other side, 16% of men and 9% of women have over $200,001, less than a $400,000 super balance. 7% of men and 4% of women have over $700,001, less than a $1 million super balance. The survey found that men contribute more to their super balances than women.

FAQs

Q1. How many men and women have over $100,000 super balance?
A1. A survey found that 24% of women in Australia have above $100,000 super balance. On the other hand, this number in men is 44%.

Q2. Who contributes more towards their super balance? Men or women?
A2. The survey found that men contribute more to their super balances than women.