Women in the accounting profession are paid on average $60,000 less than men in New Zealand, according to a survey of chartered accountants.
Female accountants on both sides of the Tasman were paid 40 to 50 per cent less than male accountants, the March survey of more than 4500 members of Chartered Accountants Australia and New Zealand showed.
This survey has revealed some uncomfortable truths, said the organisations chief executive, Ainslie van Onselen in a statement on Tuesday.
As accountants, we trust the numbers, and while our profession is paid well, these figures paint a challenging picture for women in accounting over the life of their careers.
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Men held most of the industrys senior positions. However, the pay gap existed within the same groups of contributing factors, such as years of experience, hours worked, and location.
Men and women had a different perception of the gender pay gap, the survey showed, with nearly seven in 10 women believing it existed, compared with three in 10 men who agreed.
This survey has revealed some uncomfortable truths, says Ainslie van Onselen, CEO of Chartered Accountants Australia and New Zealand.
This disconnect suggests more work needs to be done to change the perception of pay discrepancies in the industry, as almost 70 per cent of male respondents dont think this issue exists, van Onselen said.
These results are incredibly disappointing and without change we fail to acknowledge the equal work women do in our profession.
Women made more career sacrifices for their families, with almost 50 per cent of female accountants taking time out from their career for parental care or care for others, compared with 20 per cent of men.
The average career break was almost two years, with most women believing it had a significant impact on their work opportunities.
This is where direct action such as the introduction of flexible work policies are important. They are proven to ensuring women progress into senior positions and narrowing the gender pay gap, she said.
Companies could help close the gender pay gap by having greater pay transparency, annual reports analysing the pay gap, and senior leaders focusing on change.
According to the survey, average remuneration in New Zealand was NZ$149,256, up 5 per cent on a year earlier, including a $10,600 bonus.
In Australia, average remuneration was A$166,488, up 4.5 per cent.