Talk of the gender pay gap is everywhere: in newspapers, on social media, in workplaces and in our bank accounts.
But young men are blissfully ignorant of the situation.
According to research commissioned by Westpac and released today, just 15% of males aged 18 to 65 believe pay inequality exists, with a quarter of men under 25 saying there’s no gender pay gap in their industry. Meanwhile, 80% of men surveyed said they earn the same as women in their industries.
This is despite comprehensive data from the Australian Bureau of Statistics and the Workplace Gender Equality Agency that says otherwise. The national pay gap is currently at 17.9%, a figure that goes as high as 30% for certain industries, such as finance.
Back in March, Westpac also revealed women start on nearly 12% less than men working full-time – meaning common excuses like career breaks and flexibility can not alone explain the gender gap.
So is gender pay a women’s fight only, given so many men can’t actually see the issue?
Absolutely not. What this research may show is that despite all the talk, there is some fatigue on the issue and that young people particularly – men and women included – may still believe time alone will solve the issue.
What we need to do is show the gender pay gap and the many different reasons for why it exists points to issues that affect both genders. Catalyst highlights research that shows pay equity is linked to eradicating poverty, creating more motivated workforces and contributing to an increase in GDP. Meanwhile pay equity also helps promote women’s workforce participation, ultimately creating a stronger and more diverse economy. In Australia, further research suggests that just a 1 percentage point reduction in the gender pay gap could boost Australia’s GDP by 0.5%
There’s something in this issue for everyone. It’s about more than ensuring women get the additional 17.9% more that they’re worth.
Although from a woman’s perspective, that 17.9% would certainly be handy.