Closing the gender pay gap
The gender pay gap is a symptom of a broader cultural problem in workplaces and reflects the system undervaluing of women’s workplace contributions which can lead to the under-representation of women in senior roles.
Even though the current highest Australian gender pay gap is in financial and insurance services, which sits around 24%, many employers believe the gender pay gap isn’t an issue in their business and might not realise they’re exacerbating the problem.
However, examples of gender pay disparity are everywhere, from Lisa Wilkinson leaving the Today Show over an alleged pay gap issue with her co-host to Hollywood films such as American Hustle where Amy Adams was paid nearly a million dollars less than her co-stars for working the same amount of time.
Last week the UNSW Business School gathered four successful, influential businesswomen for the She’s Worth It! event to empower the next generation of business leaders and to speak about the gender pay gap issue.
The event included a workshop on pay negotiation for Business School students, followed by a panel discussion.
The panellists’ featured Alice Tang, Chief Operating Officer of Moelis Australia Asset Management, Camilla Love, Managing Director of eInvest and Founder of F3- Future Females in Finance, Lorena Sosa, Partner at Grant Thornton Australia and moderated by Katrina Rathie, Partner in Charge at King & Wood Mallesons, Sydney.
The panellists spoke about the challenges and barriers they have faced and their career successes, whilst they gave the next generation of business leaders negotiation strategies on how to earn what they are deserved.
Before stepping out into the workplace, Camilla said women need to educate themselves about the pay gender gap problem but also on how women should know their worth, be their own cheerleaders and back themselves in the workplace.
“You really do have to lean in and not lean out at all stages of your career, including during maternity leave if that is what you choose to do, or carers leave,” she said.
Ebony Stansfield is a journalist and photographer. She gained her Bachelor’s degree focused in Communications and Journalism from Charles Sturt University.