Gender pay gaps in financial services: What WGEA’s new targets mean for employers & investors

In this episode of The Greener Way, host Michelle Baltazar talks with Mary Wooldridge, CEO of the Workplace Gender Equality Agency (WGEA), about why gender equality in financial services matters and how new national reforms will affect employers, investors and super funds.

Wooldridge explains that WGEA collects yearly gender‑equality data from businesses with more than 100 employees and publishes their gender pay gaps. The latest results show some improvement, with an overall median pay gap of 11.2%, but a much higher 21.4% in financial services, along with ongoing imbalances across pay levels.

She also outlines new rules requiring large organisations to set and meet gender‑equality targets over three years, with public reporting and consequences for those that fall behind.

01:01 How pay gaps are measured

03:01 Key findings and stats

04:42 Financial services reality check

05:55 Reforms and target setting

06:58 Compliance and consequences

08:10 Choosing the right targets

09:44 What works in practice

11:56 Board and C-suite accountability

14:35 On ESG and gender equality

Links: WGEA Data Explorer