Equality for female CEOs decades away — survey

Women are progressing into senior leadership positions but it will take another 80 years for females to reach equal numbers of executive roles, an expert says. And female CEOs are earning $162,000 less than their male peers.

Female chief executives earn $162,000 less than their male peers and will take another 80 years to reach equal numbers of executive roles, new data reveals.

A national report analysing the pay and conditions of more than four million Australian workers shows men continue to be paid more than women at every level of management.

The Bankwest Curtin Economics Centre and the Workplace Gender Equality Agency survey reveals the highest paid 10 per cent of men take home at least $598,000, compared to $436,000 for women.

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Although women are more likely to hold management roles at the lowest levels, they earn at least $31,000 less a year than their male colleagues, it says. It also shows although women can expect to hold equal numbers of management roles within 20 years, female CEOs will have to wait until 2100 if the trends continue.

The report, titled Gender Equity Insights 2019: Breaking through the Glass Ceiling, shows organisations with flexible work arrangements, gender-balanced boards and more than 13 weeks of paid parental leave are more likely to hold on to female managers.

It also shows the female-dominated healthcare sector has one of the lowest numbers of female leaders in the workforce.

Female chief executives will take 80 years to reach equal numbers of executive roles, new data reveals. General picture: iStock

Report author Associate Professor Rebecca Cassells said the recent progress of women into senior leadership positions would continue.

“Over the last five years, we’ve seen more women taking up senior management and leadership positions across Australian organisations, and the representation of women in management roles is currently very close to their share in the full-time labour force,” she said. “However, women still face an additional barrier in terms of the pay that they can access when moving into management roles, and the number of female CEOs is increasing far too slowly, with parity not expected anytime this century. Simply breaking through the glass ceiling doesn’t provide women with the same wage opportunities. It’s clear there are still barriers in place that prevent women from reaching their full potential,” Prof Cassells said.

Workplace Gender Equality Agency director Libby Lyons says employers need to improve choices for women. Picture: Luke Bowden

Workplace Gender Equality Agency director Libby Lyons said employers needed to improve choices for women.

“Children starting primary school this year will enter a workforce where they are likely to see gender balance at most management levels. Yet they will have to live to be almost 90 to see women reach equality at the CEO level,” Ms Lyons said.

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