In this article:
On international women's day, we bring you ten stats and facts about women and money that you should know. How likely is a women to retire comfortably in Australia today? How many women make up the nation's finance industry?
Top 10 worrying facts to know about women and finance in Australia
- Women retire, on average, with around half as much in their superannuation as men
- 37 per cent of women report having no personal income at the age of retirement
- 70 per cent of pensioners are women
- One in five women yet to retire have no superannuation
- Women in Australia can expect to earn $1m less than men in their working lives. The financial impact of this is that women in Australia are 2.5 times more likely than men to live in poverty in their old age
- On average, women earn more in only 22 out of 433 occupations in Australia (that’s only 5%).
- Women are more likely to reach the highest paid roles in only 75 out of 433 occupations – around 15%.
- Disturbingly, the average wage gap is getting wider, growing by $3,200 between 2009 and 2013.
- Australia has 37 companies out of 99 financial services companies listed on the ASX with no women on their boards - that's about 40 per cent
- Using Financial Planning Association (FPA) membership data as a proxy for the whole profession, just over 20 per cent of Australia's financial advisers are female. Meanwhile, 23% mortgage brokers are female.