Gender pay gap greatest among Australian managers
Detailed earnings information released by the ABS today reveal a clearer picture of the differences between men and women’s pay packets
2 min
Women in management experience the greatest hourly pay gap, new data from the Australian Bureau of Statistics shows.
The Survey of Employee Earnings and Hours released today showed the difference between average hourly earnings for men and women in management roles in May 2023 was $14.10 per hour, ABS head of labour statistics, Bjorn Jarvis said. In percentage terms, that represents a 19 percent difference.
While the gap was starkest at the top level, men continued to earn more per hour across all eight major occupation groups, the statistics revealed, with the smallest gap among sales workers at 7 percent.
In terms of weekly earnings, men earned an average of $1,731 and women $1,261. The average pay for all employees was $1,490 in May 2023.
“Analysing the difference between male and female earnings is complex and there is no single measure that can provide a complete picture,” Mr Jarvis said. “Hourly earnings comparisons are particularly useful in understanding gender pay differences beyond weekly earnings measures, given women are more likely to work part-time than men.”
For part time workers, where women make up the majority at 69 percent of employees, women earn more on average at $817 compared with $759 for men.
“This reflects the greater use of part-time working arrangements by women in higher paying jobs, compared to men,” Mr Jarvis says.
Across the employment sector, distributional data showed that the top 25 percent of workers earned more than $1,956 per week in May 2023 while the lowest 25 percent earned less than $785. On an hourly basis, managers came out on top at $67.20 per hour, followed by professionals at $60.60, followed by labourers ($32.20) and sales workers ($30.90).
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Tech investor was one of the most outspoken supporters of Trump in Silicon Valley
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President-elect Donald Trump named a Silicon Valley investor close to Elon Musk as the White House’s artificial intelligence and cryptocurrency policy chief, signaling the growing influence of tech leaders and loyalists in the new administration .
David Sacks , a former PayPal executive, will serve as the “White House A.I. & Crypto Czar,” Trump said on his social-media platform Truth Social.
“In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” he posted.
Musk and Vice President-elect JD Vance chimed in with congratulatory messages on X.
Sacks was one of the first vocal supporters of Trump in Silicon Valley, a region that typically leans Democratic. He hosted a fundraiser for Trump in San Francisco in June that raised more than $12 million for Trump’s campaign. Sacks often used his “All-In” podcast to broadcast his support for the Republican’s cause.
The fundraiser drew several cryptocurrency executives and tech investors. Some attendees were concerned that America could lose its competitiveness in emerging areas such as artificial intelligence because of overregulation.
Many tech leaders had hoped the next president would have a friendlier stance on cryptocurrencies, which had come under scrutiny during the Biden administration.
“What the crypto industry has been asking for more than anything else is a clear legal framework to operate under. If Trump wins, the industry will get this, and more innovation will happen in the U.S.,” Sacks posted on X in July.
The tech industry has also pressed for friendlier federal policies around AI and successfully lobbied to quash a California AI bill industry leaders said would kill innovation.
Sacks’ venture-capital firm, Craft Ventures, has invested in crypto and AI startups. Sacks himself has led investment rounds in many. He has previously invested in companies such as Slack, SpaceX, Uber and Facebook.
Sacks was the former chief operating officer of PayPal, whose founders included Musk and Peter Thiel . The group, called the “PayPal mafia,” has been front and center this election because of its financial muscle and influence in drumming up support for Trump.
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