PwC Australia today announced its gender pay gap at a partnership level for the first time, revealing a like for like role gap of zero percent and a gap of 16 percent overall.
Luke Sayers, CEO of PwC, said the firm was determined to close this gap by increasing the diversity of the partnership overall, as well as ensuring that within the partnership, women continue to be given increased leadership opportunities.
“People have rightly been calling for professional services firms to disclose their partnership pay gap and we are proud to be the first Australian firm to do so today. Transparency around diversity is one of the key ways we can address the challenges we face and hold ourselves accountable to real change,” Mr Sayers said.
Each of PwC’s 649 partners has an agreed responsibility level which relates to their role and level of seniority within the firm. On a like for like basis, PwC's pay gap in its partnership is zero percent, including once any incentive payments have been incorporated.
PwC's gender pay gap at a partnership level is 16 percent overall, reflecting the fact that there are more men holding more senior partnership roles than women.
PwC’s firm wide gender pay gap, including partners is 12.3 percent. On a like for like role basis amongst PwC’s employees, the gender pay gap is 0.3 percent.
In the last three years PwC has introduced:
“Over the last six months, our new Chief Diversity and Inclusion Officer, Julie McKay, has undertaken a detailed review of D&I across the firm,” Mr Sayers said.
“To achieve greater diversity and inclusion in our senior leadership roles, we are adding a 50 percent gender target for new promotions and lateral appointments at a Director level. We are also increasing our investment in D&I coaching for our Executive Board members, our Partners and our people.
“We believe these policies, together with the firm's values and behaviours which form the bedrock of our culture, will help us continue to not only close our gender pay gap, but create a more diverse and inclusive workforce where everyone can achieve their full potential.”
Notes to editor:
*PwC’s gender target aims for a minimum of 40 percent of new partner admits to be female, 40 percent male and the remaining 20 percent can be either female or male.
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© 2017 - 2020 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. Liability limited by a scheme approved under Professional Standards Legislation.