in brief: latest amp-natsem report highlights womens’ economic disadvantage
Being female is an economic disadvantage, according to the latest AMP-NATSEM report.
The report states that Australians who finish high school earn an average $2.07 million in their lifetime. This is in comparison to roughly $1.74 million for people who did not complete year 12.
However men have a significant advantage over women, irrespective of their educational background. For instance a postgraduate woman will only earn on average $2.49 million over her lifetime – one third less than a man with the same qualifications.
This places a woman with a postgraduate degree in the same income range as a man with a trade certificate.
The situation doesn’t get any better for women with diplomas or certificates. According to the report, for being a woman with a diploma you’ll earn 35% less than your male counterpart.
Completing a bachelor degree? Well, for three years of hard work you’ll still earn 42% less than a male graduate.
Clearly the idea that education breaks down the gender divide isn’t as simple as we once thought. While it is clear that a higher level of education generally equates to a higher level of income, the fact that women still earn far less than men is a worrying sign.
The report opens with AMP Financial Services Managing Director, Craig Mellor, stating that Australians ‘go the extra mile to make sure their children receive the best possible education’.
How about going the extra mile to ensure women receive equal pay? Women who work hard, help raise families, and contribute wonderful things to our nation.
Obviously the data is affected by factors such as childbirth and the fact that more women work part-time in comparison to men. However the divide between lifetime earnings shouldn’t be this large.
Women are, after all, more likely to gain a bachelor degree than men. Indeed, there are 300,000 more women than men with a tertiary qualification. With this in mind the issue of equal pay cannot be ignored.
How do you feel about the findings of the AMP-NATSEM report? Share your thoughts below!
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