Home > News Release: Remuneration For Female Ceos Down To Only 79%
Remuneration for Female CEOs Down to Only 79% of Male Earnings
13 November 2008
The just released Enterprise Care Not for Profit Remuneration Report reveals that remuneration rates for women in Chief Executive Officer positions in the Not for Profit sector have declined significantly since 2007.
The average remuneration rate fell to only 79% of male average earnings in 2008, down 6% since 2007. This figure is the lowest percentage since 2001, when female earnings began a steady rise to within 85% of male earnings last year.
According to Damien Smith, Managing Director of Enterprise Care, this trend reversal shows that income prejudice is still alive and well in the Australian workplace.
“These figures show a strong reversal of the recent trend of growing equality in male and female CEO earnings” he said.
“2008 is the 10th year of this survey, and we can accurately track the progress of income equality in the workplace since figures were first recorded by Enterprise Care in 1998”.
With nearly 1,400 senior level survey respondents, the Enterprise Care Remuneration Report is the leading measure of Not for Profit sector management position earnings in Australia.
Further reinforcing the income inequality trend seen in the CEO position, eleven of the fourteen surveyed Director or high level management positions showed women with lower average total remuneration than men.
“This survey shows that women in management positions in the Not for Profit sector are generally earning less than their male counterparts. The exception to this is in the Convention/Meetings, Education, Fundraising and Program areas, where women are actually earning, on average, more than men” Smith said.
According to Mr. Smith, this could be attributed to there being more women than men employed in these positions.
“Though figures can fluctuate due to there being different respondents each year, our survey results show that women in high level positions in the Not for Profit sector earn less than men as a rule” he said.
“In one position, women were earning just 69% of male earning. That’s a huge difference in salary”.
This is in line with figures released by the Australian Government Equal Opportunity for Women in the Workplace Agency (EOWA), which calculates that women earn just 84 cents in the male dollar.
Mr. Smith believes that action needs to be taken immediately to address this issue.
“The next step to take now that we have identified this worrying trend, is to make sure that all organisations are aware of the issue, and are prepared to follow through with actions” Smith said.
For more information, or to arrange an interview with Damien Smith, call:
Alicia Semple
Communications Manager
1300 659 613
or
Damien Smith
Managing Director
0418 325 781.
Enterprise Care is the premier Not for Profit sector consulting group in Australia. In business for over 20 years, Enterprise Care offers innovative products and services for the corporate and Not for Profit sector.
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