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Speaker 1: She's on the Money. She's on the Money.

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Speaker 2: Hello and welcome to a bonus episode of She's on

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Speaker 2: the Money, the podcast from millennials who want financial freedom.

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Speaker 2: Today is Equal Payday, a day to bring attention to

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Speaker 2: the financial inequality that still exists between men and women

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Speaker 2: in the workplace in Australia. Why is it today? Well,

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Speaker 2: the thirty first of August marks the extra sixty one

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Speaker 2: days from the end of the financial year that women

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Speaker 2: on average need to work to earn the same pay

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Speaker 2: as men. My name is Georgia King, and joining me

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Speaker 2: to discuss Equal Payday today, including how far we've come

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Speaker 2: and how far we still have to go in closing

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Speaker 2: the gender pay gap is of course financial advisor Victoria

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Speaker 2: Divine V.

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Speaker 3: Happy Equal Paydata.

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Speaker 4: Oh, happy Equal Payday to you too.

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Speaker 3: My exciting day.

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Speaker 4: Ah, what a time to be alive and be reminded that.

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Speaker 3: For the same work we get paid left. What a dream?

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Speaker 2: Well, that's it, it's it's a day. I hadn't heard

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Speaker 2: of it before. Have you heard of Equal Pay Day before?

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Speaker 3: Yes?

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Speaker 4: I have, sir.

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Speaker 2: Well that makes sense because you're a financial adviser and

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Speaker 2: I am merely and I'm.

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Speaker 4: Also often on my high horse about being paid equally

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Speaker 4: and equality and rights and all of that. So I'm

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Speaker 4: not surprised that you hadn't heard of it, But that's

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Speaker 4: why we're doing this episode because I think everyone should

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Speaker 4: hear about it.

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Speaker 2: One. So let's start from the start. Where did equal

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Speaker 2: Payday come from? What's the point of it took us

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Speaker 2: through all of this stuff?

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Speaker 4: So Equal Payday or Unequal Payday as it is known,

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Speaker 4: is a day for all of us to take a

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Speaker 4: pause and talk about the gender pay gap which still exists,

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Speaker 4: and remind us all that we have a long way

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Speaker 4: to go in achieving financial equality between genders in the workplace,

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Speaker 4: which is really really sad. Like I just am so

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Speaker 4: upset that we're still having this conversation, like, yes, we've

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Speaker 4: come so far, but we are still so far away

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Speaker 4: from being equal to that of men in the workplace. So,

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Speaker 4: as you said, gee, the date is actually decided by

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Speaker 4: how many extra days women have to work to match

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Speaker 4: earnings of men, and this year it falls on the

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Speaker 4: thirty first of August to mark sixty one extra days

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Speaker 4: that we have to work each and every single year

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Speaker 4: to earn exactly the same amount of money.

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Speaker 3: So if you want to know the.

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Speaker 4: Nitty gritty of exactly how they calculate it, because I

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Speaker 4: always do to quote the WGA website. They derive the

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Speaker 4: difference between women's and men's average full time earnings as

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Speaker 4: a percentage of women's earnings and multiply that figure by

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Speaker 4: three hundred and sixty five days weekly earnings.

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Speaker 3: Right.

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Speaker 4: Yes, it is the weekly earnings. And it's an initiative

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Speaker 4: from the Workplace Gender Equality Agency, who we respect the

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Speaker 4: very highly, and they are a government organization that was

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Speaker 4: set up in nineteen eighty six and it was designed

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Speaker 4: to help progress gender inequality, equality opportunities, and pay equality

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Speaker 4: in the workplace. I think up front, something that I

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Speaker 4: really want to talk about here is we are talking

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Speaker 4: men versus women, And when we were researching the episode

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Speaker 4: to give you guys all the juicy, sexy statistics, the

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Speaker 4: thing that we were most disappointed about was the lack

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Speaker 4: of research, the lack of study, the lack of information

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Speaker 4: that existed around minority groups. So, yes, we're talking about

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Speaker 4: women being worse off, but I guarantee you the statistics

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Speaker 4: would be far worse for people of color, for people

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Speaker 4: who are trans, for anybody in the LGBTQI plus community,

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Speaker 4: they are definitely going to be even worse off than women.

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Speaker 4: And it is a shame that on a day like today,

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Speaker 4: we don't have significant statistics to share with you around

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Speaker 4: that level of inequality, because it is wild to think

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Speaker 4: how far they are behind in comparison to even women.

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Speaker 4: So I just want to put that upfront. It's not

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Speaker 4: because we're trying to avoid that topic. It's because the

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Speaker 4: research does not exist, like we haven't done enough, like

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Speaker 4: we even see it on surveys like Georgia. Do you

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Speaker 4: remember doing the census. It wasn't that long ago. Literally

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Speaker 4: I put feedback in my sensus because the only gender

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Speaker 4: options were male and female, like they did. Yes, they

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Speaker 4: didn't even in the census have any information for people

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Speaker 4: to say I don't want to disclose, or you know,

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Speaker 4: I'm not either of those options, or I'm something else.

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Speaker 4: And to me in twenty twenty one, it was like,

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Speaker 4: that's a really big fail on behalf of the government

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Speaker 4: doing a nationwide survey to not see that as an

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Speaker 4: epic opportunity to one make people feel included, but two

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Speaker 4: to actually collect that information because it is relevant to us.

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Speaker 4: It is something we need to care about and by

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Speaker 4: not putting that option there, they're saying they don't care.

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Speaker 3: Yeah.

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Speaker 2: I also emailed the WGEA P to ask what they

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Speaker 2: are doing in terms of research. I haven't heard back yet,

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Speaker 2: but when I do hear, I'll let you guys know,

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Speaker 2: because I assume they are working in that area.

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Speaker 3: I think they are out of me.

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Speaker 4: Yeah, yeah, I absolutely think they are. It's just really

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Speaker 4: sad that not enough information exists around that because also

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Speaker 4: we have a lot of people from those communities in

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Speaker 4: our community and it just makes sense that we talk

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Speaker 4: to those people as well and not just go hey,

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Speaker 4: this is women only. So every stat you hear everything

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Speaker 4: that we talk about in this podcast, I want you

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Speaker 4: to know, yeah, that's awful, but it's worse for those

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Speaker 4: minority groups. And as soon as we have all that

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Speaker 4: information and all the research, you best believe we'll be

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Speaker 4: doing an entire episode on it. Okay, So where are

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Speaker 4: we at in Australia when it comes to this issue. Oh? Look,

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Speaker 4: unfortunately we have taken a step backwards over the last

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Speaker 4: six months, which let's blame it on COVID. It's not

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Speaker 4: just the fact that you know, women are not being

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Speaker 4: as valued. That's a really I mean in comparison to

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Speaker 4: some of the other reasons, I think that's a pretty

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Speaker 4: good reason to have taken a step back. But the

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Speaker 4: gender pay gap is currently fourteen point two percent, which

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Speaker 4: is a rise of zero point eight percent over the

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Speaker 4: last six months.

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Speaker 2: So that's pretty It was thirteen point four I think

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Speaker 2: when we last spoke about this issue, yes it was.

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Speaker 4: So that's obviously disappointing, but from my perspective not the

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Speaker 4: be all end all like. It's definitely something we can

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Speaker 4: recover from. On average, though, while men working full time

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Speaker 4: earned eighteen hundred and thirty seven dollars per week, women

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Speaker 4: earned fifteen hundred and seventy five dollars fifty which is

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Speaker 4: a total weekly Georgia difference of two hundred and sixty

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Speaker 4: one dollars fifty or thirteen grand a year. So j

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Speaker 4: people might not think that that's that much because obviously,

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Speaker 4: when it comes to the gender pay gap, there are

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Speaker 4: so many different factors, and you go, okay, well, women

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Speaker 4: take time off, and they do lots of unpaid labor

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Speaker 4: and all of that, But at the end of the day,

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Speaker 4: how many of your mates do are paying two hundred

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Speaker 4: and fifty bucks a week rent? Look like that that

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Speaker 4: is truly, truly rent thirteen grand a year is so

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Speaker 4: much money, Like if you were investing that amount, that's

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Speaker 4: literally like over one thousand dollars a month that you

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Speaker 4: could invest or save that men can do that week

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Speaker 4: andnot And I just feel like that is so much

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Speaker 4: money and we really need to take this seriously not

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Speaker 4: just go yeah, the pay gap exists, Like what does

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Speaker 4: that mean? That means that if somebody is earning two

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Speaker 4: hundred and sixty one dollars fifty more than a female

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Speaker 4: each and every single week, they would have more than

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Speaker 4: one point two million dollars more in retirement had they

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Speaker 4: invested that amount.

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Speaker 2: Geez gee, what that like?

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Speaker 3: That is a perspective.

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Speaker 4: That is so much money. And one point two million

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Speaker 4: dollars in retirement gives you about a sixty thousand dollars

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Speaker 4: income stream each and every single year. So that is

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Speaker 4: wild if you extrapolate that out and be a little

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Speaker 4: bit dramatic, but like if I'm anything, I am dramatic

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Speaker 4: only podcasts. So WGA data also shows that in Australia,

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Speaker 4: women's average full time wages are lower than men's across

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Speaker 4: every industry and occupation. So not just some every single one. Surprisingly,

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Speaker 4: organizations which have big female presences like education and training, healthcare,

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Speaker 4: and social assistance sectors were revealed to be the lowest

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Speaker 4: on average when it comes to their quote approach to

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Speaker 4: gender pay equality in the workplace. Plus they've shown the

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Speaker 4: least improvement over the last five years. This is in

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Speaker 4: contrast to industries like mining, finance, and insurance, who rank

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Speaker 4: much higher.

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Speaker 3: Than That's so surprising, though, isn't it.

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Speaker 2: I know mine would be leading the way.

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Speaker 4: Yeah, I feel like because there actually aren't as many

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Speaker 4: women in mining, the gap isn't as big, And oh,

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Speaker 4: I don't want to be that guy. But like, if

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Speaker 4: you look at all of the data about the types

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Speaker 4: of jobs women want to do, like on a base level,

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Speaker 4: women are more maternal. Not saying that this is acceptable,

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Speaker 4: women in war maternal. We're more quote caring. I'm not

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Speaker 4: saying that that is true of everybody, but like we're

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Speaker 4: talking about the topic and women are more likely to

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Speaker 4: choose things like nursing and teaching and caring social assistance roles,

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Speaker 4: which I think is really great. But because of that,

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Speaker 4: we aren't valued as much because like that's a woman's

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Speaker 4: job and like that's not the case, I definitely don't

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Speaker 4: believe that. But over COVID G, we've learnt very quickly,

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Speaker 4: which we all should have known already, that people in education,

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Speaker 4: people in healthcare, people in social assistance are the most

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Speaker 4: important people in our community, yet they're the ones being

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Speaker 4: paid the least.

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Speaker 2: What. Yeah, it's a very backward system, isn't It makes

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Speaker 2: no sense.

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Speaker 4: It is wild. And last week, G, you and I

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Speaker 4: spoke on our retirement episode that this stuff really matters

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Speaker 4: long term, and I obviously just gave you an example

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Speaker 4: of what that means if you had invested it all

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Speaker 4: the way to retirement. But it doesn't just impact the

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Speaker 4: amount of money that you get in your back pocket

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Speaker 4: each and every single way. It also impacts our super

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Speaker 4: because obviously, if you're earning less, you are having less

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Speaker 4: super contributed. And we need to talk about this and

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Speaker 4: understand how it's not just two hundred and sixty one

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Speaker 4: dollars a week. It adds up so much over a

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Speaker 4: working lifetime.

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Speaker 2: Even all of that are side b Like if I

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Speaker 2: had an extra two hundred and sixty one dollars a week,

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Speaker 2: like the things I would do with it, you know,

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Speaker 2: Like that is a substantial sum it would cover my rent,

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Speaker 2: it would cover my groceries, Like it's a big comfort

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Speaker 2: that we don't live with.

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Speaker 4: I guess, yeah, And I mean it's on average and

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Speaker 4: lots of people. Yeah, oh my gosh, be like it's

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Speaker 4: not that's not exactly what it means. But let's be honest,

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Speaker 4: at the end of the day, that's an average g

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Speaker 4: So for some women, that's five hundred dollars a week. Yes,

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Speaker 4: for some it might only be thirty cents, but that

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Speaker 4: is massive on average to have. And the fact that

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Speaker 4: the average is only two hundred and sixty one means

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Speaker 4: there's a lot of people on either side of that number,

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Speaker 4: and that is what concerning.

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Speaker 2: Yeah, definitely, before we go any further, let's talk about

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Speaker 2: what the gender pay gap actually measures and the difference

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Speaker 2: between that and what pay equality is, because yes, I

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Speaker 2: had to head it, so yeah, let's make it really cool.

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Speaker 2: And I'm obviously wild about pay equality. Like pay equality

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Speaker 2: to me is a no brainer. So pay equality refers

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Speaker 2: to the pay for work of equal or comparable value.

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Speaker 2: So equal pay is not just about equal wages. Equal

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Speaker 2: pay takes into account all of the other things, So

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Speaker 2: like discretionary pay, your allowances, performance payments, merit payments, all

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Speaker 2: of that fun stuff, including superannuation and unequal pay is

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Speaker 2: one of the key drivers of the gender pay gap.

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Speaker 2: Equal pay is when men and women receive equal pay

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Speaker 2: for the work of equal or comparable value. So it's

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Speaker 2: not the pay gap. The pay gap is actually made

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Speaker 2: up of a lot of different things. But the gender

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Speaker 2: pay gap measures the difference between the average earnings.

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Speaker 4: Of men and women in.

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Speaker 3: The workforce, not for lack for like jobs.

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Speaker 4: It's not the difference between two workers being paid differently

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Speaker 4: for the same job, because that's actually illegal, and if

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Speaker 4: that's happening to you, my friend, you need to whistle

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Speaker 4: blow on that asap. So basically, the gender pay gap

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Speaker 4: refers to the difference on average between what women and

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Speaker 4: men get paid across different industries and organizations in.

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Speaker 3: The workforce over all.

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Speaker 4: Does that make sense, Yeah, So it's kind of the

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Speaker 4: larger scope of the thing. It's like, yeah, it's the

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Speaker 4: bigger picture. It's made a bigger picture so many different things.

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Speaker 4: So it's not just being paid equally. It's also like

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Speaker 4: parental leave and things like that that all add up

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Speaker 4: and actually put us as women behind.

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Speaker 2: Yeah, and that leads me perfectly to my next question,

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Speaker 2: which is why the gap.

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Speaker 3: Let's talk about it.

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Speaker 2: What are the facts?

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Speaker 3: So many contributing.

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Speaker 4: Factors, which is really frustrating, but it all comes down

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Speaker 4: to the lack of value for women in the workplace,

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Speaker 4: sad but true, as well as the many barriers that

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Speaker 4: lead to a lack of women in senior, high paying roles.

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Speaker 4: It's not necessarily something deliberate, Let's just put that out there.

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Speaker 4: It's quite ingrained in many workplace cultures, which sees things

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Speaker 4: like conscious and unconscious biases in decisions around who to

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Speaker 4: hire and what to pay employees.

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Speaker 3: There are a whole heap of other.

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Speaker 4: Reasons as well g for the gap, including women working

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Speaker 4: part time time out of the workforce to care for

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Speaker 4: and raise families, which not only means they're not earning

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Speaker 4: money or super but they're losing the opportunity to continue

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Speaker 4: building their.

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Speaker 3: Careers in those years.

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Speaker 4: So like when you finally go back to the workforce,

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Speaker 4: how many times have we heard stories of women going, oh, well,

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Speaker 4: I worked in marketing and you know, been trying to

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Speaker 4: get back into the workforce, but because I've been out

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Speaker 4: for five years, they think that I'm redundant. Because you

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Speaker 4: know I'm not up with what TikTok is doing and

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Speaker 4: what the world is doing, and I know that those

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Speaker 4: are generalized examples, but you can see why they end

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Speaker 4: up adding up in that way. I'm not saying it's

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Speaker 4: acceptable by any stretch of the imagination, but it is

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Speaker 4: an example of how that works.

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Speaker 3: Gee.

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Speaker 4: We know women also take on a large load on

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Speaker 4: average when it comes to things like unpaid work and

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Speaker 4: domestic work around the house. And I have no doubt

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Speaker 4: when our census comes back from this year it is

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Speaker 4: going to say exactly the same thing as it always has,

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Speaker 4: and that is women do more work around the household

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Speaker 4: than men do, and a lack of workplace flexibility exists

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Speaker 4: with hours that mean they may not be able to

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Speaker 4: take on larger workplace roles like senior roles, because they

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Speaker 4: need flexibility, right. They actually have family commitments that they

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Speaker 4: want to meet, which is so fair, and female dominated

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Speaker 4: industries like healthcare and teaching they attract lower wages, which

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Speaker 4: is confusing given how important they are. And we ranted

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Speaker 4: about it before because they are literally keeping us alive

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Speaker 4: and educated.

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Speaker 2: Oh they this topic has me.

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Speaker 4: I'm angry all the time.

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Speaker 2: Yeah, well rightly, so it's a very frustrating topic, but

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Speaker 2: you know, we will be talking about what the future

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Speaker 2: looks like on the other side of the break, and

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Speaker 2: hopefully that will leave us feeling with a little bit

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Speaker 2: more hope in our heart, a.

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Speaker 4: Little bit more empowered.

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Speaker 3: Yes, we'll be so stick around.

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Speaker 4: Friends.

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Speaker 2: We touched on it in the first half of the

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Speaker 2: show a little bit. They're talking about how minority groups

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Speaker 2: are so much worse off in this whole debacle.

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Speaker 3: We didn't find many stats.

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Speaker 2: Because there aren't many that have been created yet, but

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Speaker 2: we did find some stuff, So can you talk us

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Speaker 2: through that.

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Speaker 4: We know that there are frustratingly very few statistics that

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Speaker 4: sit around this, and you know what, it makes me

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Speaker 4: really interested in potentially doing your own study to find

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Speaker 4: these stats so we can start putting things on the

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Speaker 4: table and say, no, this is serious as well. We

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Speaker 4: need to take this into consideration. But there are a

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Speaker 4: few factors that are to it, and a lot of

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Speaker 4: the stats that we've got now actually come from the US,

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Speaker 4: so we're going to go with them because there's not

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Speaker 4: a lot coming out of Australia. But the few factors

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Speaker 4: are things like systemic racism and biases that see white

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Speaker 4: people promoted and employed at higher rates than people of color, which.

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Speaker 3: Is hard breaking.

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Speaker 4: And there's a quote that I will read out because

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Speaker 4: it is from a research paper and I thought it

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Speaker 4: was really interesting. It is from the US and it

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Speaker 4: says that interactions between individual characteristics can have significant impact

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Speaker 4: on gender pay gaps. For example, research from the United

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Speaker 4: States looks at women's earnings as a percentage of a

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Speaker 4: white man's earnings and finds that in twenty eighteen, the

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Speaker 4: gender pay gap for all women compared to white men

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Speaker 4: was nineteen point nine percent, but rose to thirty four

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Speaker 4: point seven percent for Black women and thirty eight point

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Speaker 4: four percent for Hispanic women. The gap can be exasperated

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Speaker 4: even further in different parts of the United States, which

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Speaker 4: g oh awful Like I would hate to think what

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Speaker 4: those stats are for other people of the LGBTQI plus community,

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Speaker 4: and for example, black women in Louisiana, which we know

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Speaker 4: is definitely not nearly as progressive as.

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Speaker 3: Other parts of the USA.

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Speaker 4: A page just forty nine cents for every dollar paid

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Speaker 4: to a white man. More work needs to be done,

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Speaker 4: obviously on how intersectionality impacts gender pay gaps in Australia,

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Speaker 4: but I think it's one of those things that I

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Speaker 4: think we would be horrified to find out what the

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Speaker 4: statistics are here in Australia. And I'm not saying that's

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Speaker 4: why the research hasn't been done. I think it's just

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Speaker 4: not being done yet. But I can't wait for it

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Speaker 4: to exist so we can start closing those gaps and

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Speaker 4: actually start making it not an issue.

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Speaker 2: What does the future look like at the moment be

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Speaker 2: because this is all quite doom and gloomy, but obviously

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Speaker 2: we've come a long way in the last fifty years,

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Speaker 2: so what do the next fifty years look like?

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Speaker 4: So according to research done by our friends at the

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Speaker 4: WGA and the Bank West Curtain Economics Center, it's expected

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Speaker 4: that it's going to take another twenty six years for

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Speaker 4: the full time total remuneration gender pay gap to close completely, which.

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Speaker 3: That's a long time ge That's how can we be

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Speaker 3: by then?

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Speaker 4: Will be in my fifties, You'll be in your fifties,

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Speaker 4: you're reigning for retirement, or I hope you'll be ready

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Speaker 4: for retirement because you'll be investing that two hundred and

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Speaker 4: sixty one dollars fifty per.

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Speaker 3: Week, won't you?

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Speaker 4: Absolutely right? Fantastic you'll be ahead of the game. I

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Speaker 4: love it. But twenty six years old, gee, you are

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Speaker 4: like what twenty seven years old? Yeah, like that's an

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Speaker 4: entire lifetime. That is that's wild, that is absolutely wild.

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Speaker 4: But at the same time, that's not too bad. We

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Speaker 4: can do that, and I think that there are definitely

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Speaker 4: a few things that we could do to turbo charge

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Speaker 4: that and.

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Speaker 3: Make it happen sooner.

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Speaker 4: But positively, the research actually found the gap will close

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Speaker 4: over the next ten years for executives, which I think

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Speaker 4: is really exciting because obviously, leadership roles are a really

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Speaker 4: big topic when it comes to gender and pay and equality.

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Speaker 4: And I read a fact the other day, what fact all,

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Speaker 4: Oh my gosh, I'm so excited about this. Of all

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Speaker 4: of the ASX listed top two hundred companies, not one

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Speaker 4: of them has an all megel or anymore.

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Speaker 3: Oh that's you. How cool? Is that?

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Speaker 2: Well done?

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Speaker 4: Well done? ASX top ten hundred. There you your work,

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Speaker 4: keep it good.

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Speaker 2: So when you say executives, that means like CEOs and CEO.

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Speaker 4: Level CEO CFOs like executive roles that are pretty fancy pants.

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Speaker 2: Okay, so I'm happy for them, but I guess that's

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Speaker 2: not many of us, is it.

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Speaker 4: No, Let's just take this more wins and celebrate everything

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Speaker 4: that we can.

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Speaker 2: And so, how are you feeling about this feet as

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Speaker 2: a business chick? Girl boss? Are you feeling optimistic about

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Speaker 2: the future? Sorry for saying girl boss, that was really name.

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Speaker 4: I don't like the term girl boss, but actually wait

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Speaker 4: wait full disclosure for everyone listening, Victoria Divine was wearing

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Speaker 4: a shirt last time we recalled said hashtag girls lady boss,

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00:19:51,640 --> 00:19:55,879
Speaker 4: oh lady slightly better. Someone gifted it to me, and

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Speaker 4: I thought it was satirical, Like I thought it was funny,

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Speaker 4: Like I don't like being called a girl boss because like,

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Speaker 4: from my perspective, I'm just a boss, Like, yeah, my

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00:20:05,119 --> 00:20:07,120
Speaker 4: gender actually has nothing to do with how I'm running

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Speaker 4: my business. And I would like to be known as

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Speaker 4: a good human and a good person, not just a

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Speaker 4: female running a business. Like I don't want to be token,

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Speaker 4: like you know what I mean. Coming from someone who

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Speaker 4: has a business called She's on the Money, I think

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Speaker 4: some people are going to be like they like, do

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Speaker 4: you realize what you're doing? And I'll be like, well yes,

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Speaker 4: but like the she and She's on the Money is

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Speaker 4: meant to be me and our community is so diverse,

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Speaker 4: and calling me a girl boss, Like, what's the point

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Speaker 4: of that? Like, I just want to be a total boss,

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Speaker 4: Like compare me to the men, Like do you know

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Speaker 4: what I mean?

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Speaker 3: Totally?

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Speaker 4: I don't want to be just the best woman in business.

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Speaker 4: I want to be the best person in business.

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Speaker 2: You know, I apologize for calling you shoot.

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Speaker 3: For the girls?

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Speaker 2: Does? So back to where we began, there, are you

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Speaker 2: optimistic about the future boss? The person?

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Speaker 4: Very I mean fifty years ago, a female running a finance.

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Speaker 3: Company would have been unheard of.

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Speaker 4: It would have been completely unfathomable. Like it is one

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Speaker 4: of those things that I can see the progression in

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Speaker 4: my own industry happening in leaps and bounds, and seeing

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Speaker 4: all of the beautiful females that are coming into our

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Speaker 4: industry is so special because even like six years ago,

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Speaker 4: when I was going to conferences and you know, meeting

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Speaker 4: people in the industry, I would very often be the

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Speaker 4: only female in the room and I would feel really uncomfortable.

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Speaker 4: And that is starting to become not a thing. And

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Speaker 4: it's really exciting and it's really empowering, and I love

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Speaker 4: that more women are taking up bigger roles in different

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00:21:33,480 --> 00:21:38,040
Speaker 4: roles and starting to saturate industries that were predominantly male historically.

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Speaker 4: But I do think we still have a long way

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Speaker 4: to go. And yeah, my LinkedIn dms are a very

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Speaker 4: big factor in why I think we still have a

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Speaker 4: very long way to go.

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Speaker 2: Wait, what do you mean, What do you mean by that?

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Speaker 4: Oh? The amount of men and their audacity in my

444
00:21:52,960 --> 00:21:55,320
Speaker 4: LinkedIn dms, like it is one of the reasons I

445
00:21:55,359 --> 00:21:56,400
Speaker 4: don't love LinkedIn.

446
00:21:56,119 --> 00:21:57,879
Speaker 2: Gus in being little pervs.

447
00:21:58,359 --> 00:21:59,560
Speaker 3: Yeah, just being little pests.

448
00:22:00,800 --> 00:22:04,960
Speaker 4: Oh, absolutely, that's that's inappropriate and gross. That is kind

449
00:22:04,960 --> 00:22:09,000
Speaker 4: of gross, getting the bin. I'll start calling you out publicly. Good,

450
00:22:09,119 --> 00:22:11,159
Speaker 4: I've screened you for that, and send it to your wife,

451
00:22:11,280 --> 00:22:11,920
Speaker 4: bloody oath.

452
00:22:12,000 --> 00:22:14,000
Speaker 2: Didn't you do that last year? Not send it to

453
00:22:14,000 --> 00:22:14,639
Speaker 2: the wife.

454
00:22:14,359 --> 00:22:16,119
Speaker 3: But you did not. I posted it on LinkedIn.

455
00:22:16,200 --> 00:22:16,800
Speaker 2: That was good.

456
00:22:17,600 --> 00:22:20,920
Speaker 4: Yeah, I just I do like calling people out. And

457
00:22:20,920 --> 00:22:23,840
Speaker 4: you've probably seen it on my Instagram very recently, me

458
00:22:23,920 --> 00:22:27,200
Speaker 4: getting on my high horse about vaccinations and public health.

459
00:22:27,400 --> 00:22:29,880
Speaker 4: And I just think that these things are really important

460
00:22:29,920 --> 00:22:32,840
Speaker 4: to talk about because we aren't just talking.

461
00:22:32,520 --> 00:22:34,280
Speaker 3: About, you know, ourselves.

462
00:22:34,280 --> 00:22:36,160
Speaker 4: We aren't just saying this is going to be better

463
00:22:36,200 --> 00:22:38,080
Speaker 4: for Victoria, like we are saying this is going to

464
00:22:38,080 --> 00:22:40,520
Speaker 4: be better for our community. And I'm just about a

465
00:22:40,560 --> 00:22:42,960
Speaker 4: point where I'm really sick of hearing the division between

466
00:22:43,000 --> 00:22:45,480
Speaker 4: New South Wales and Queensland and what's happening over in

467
00:22:45,520 --> 00:22:48,000
Speaker 4: Perth and what's happening in Victoria, because at the end

468
00:22:48,000 --> 00:22:50,160
Speaker 4: of the day, like Australia is a community, like we're

469
00:22:50,160 --> 00:22:54,040
Speaker 4: all in this together, and like I got vaccinated yesterday. Gee,

470
00:22:54,119 --> 00:22:58,240
Speaker 4: we're just so exciting and I feel so grateful. But

471
00:22:58,359 --> 00:23:01,679
Speaker 4: it's also one of those things that I'm really grateful,

472
00:23:01,960 --> 00:23:05,000
Speaker 4: but not just because I'm protected, because I'm looking after

473
00:23:05,040 --> 00:23:07,679
Speaker 4: people who can't get vaccinated and minority groups in our

474
00:23:07,720 --> 00:23:11,359
Speaker 4: communities that are not actually able to access those things

475
00:23:11,560 --> 00:23:14,760
Speaker 4: and have them. And you know, it's it's cool to

476
00:23:14,800 --> 00:23:16,840
Speaker 4: do something for the greater good and be a part

477
00:23:16,880 --> 00:23:20,080
Speaker 4: of a community, and especially in Australia where we are

478
00:23:20,200 --> 00:23:24,280
Speaker 4: so lucky to have Medicare and a public health system

479
00:23:24,359 --> 00:23:27,240
Speaker 4: and a government that genuinely cares about our well being.

480
00:23:27,520 --> 00:23:32,959
Speaker 3: Like so so lucky. G All right, let's get back

481
00:23:33,000 --> 00:23:33,760
Speaker 3: to gen leap.

482
00:23:33,880 --> 00:23:36,320
Speaker 2: Let's get back to it to finish off today's show.

483
00:23:36,400 --> 00:23:38,520
Speaker 2: Let's talk about what we can be doing to make

484
00:23:38,720 --> 00:23:41,840
Speaker 2: change happen. When it comes to the gender pay gap

485
00:23:41,960 --> 00:23:42,600
Speaker 2: happen faster.

486
00:23:43,080 --> 00:23:45,320
Speaker 4: So first things first, I want you to have more

487
00:23:45,359 --> 00:23:48,560
Speaker 4: money conversations. Keep on keeping on. She's on the money community.

488
00:23:48,720 --> 00:23:51,639
Speaker 4: You are doing epic things, and I just feel like

489
00:23:52,320 --> 00:23:54,439
Speaker 4: this is only the beginning for what we can do

490
00:23:54,560 --> 00:23:57,680
Speaker 4: in this money space. Talk about our salaries, Tell your

491
00:23:57,680 --> 00:23:59,600
Speaker 4: friends what you earn. If you're going to go for

492
00:23:59,640 --> 00:24:02,200
Speaker 4: a pay increase, talk to people in the industry about

493
00:24:02,200 --> 00:24:04,640
Speaker 4: what they're earning. I don't think that there is any

494
00:24:04,680 --> 00:24:07,119
Speaker 4: shame in talking about this. Obviously, if you don't want to,

495
00:24:07,240 --> 00:24:10,720
Speaker 4: don't do that. But I think being more open just gives.

496
00:24:10,520 --> 00:24:11,600
Speaker 3: Us more leverage.

497
00:24:12,040 --> 00:24:15,080
Speaker 4: Know you're worth, like, know what your role is worth.

498
00:24:15,200 --> 00:24:18,320
Speaker 4: Know if you're being underpaid. So many times I speak

499
00:24:18,359 --> 00:24:21,040
Speaker 4: to people and I'll say, hey, are you being paid

500
00:24:21,280 --> 00:24:24,160
Speaker 4: what is average? Or you being overpaid? And they're like, oh,

501
00:24:24,320 --> 00:24:27,080
Speaker 4: I don't know, I've never looked into it. Go find

502
00:24:27,119 --> 00:24:31,320
Speaker 4: your salary guide, Go find what your average industry pay is,

503
00:24:31,760 --> 00:24:34,479
Speaker 4: and make sure that's the base expectation that you are

504
00:24:34,560 --> 00:24:38,320
Speaker 4: aiming for. From an organizational point of view. Libby Lyon,

505
00:24:38,400 --> 00:24:42,840
Speaker 4: who is the director of WGEA, she says research proves

506
00:24:42,840 --> 00:24:47,240
Speaker 4: that regular audits close pay gaps faster. The twenty twenty

507
00:24:47,280 --> 00:24:52,800
Speaker 4: one Gender Equality Insights Report from BCEC and WGEA showed

508
00:24:52,800 --> 00:24:57,200
Speaker 4: that employees who consistently did pay audits between twenty fifteen

509
00:24:57,280 --> 00:25:01,400
Speaker 4: and twenty twenty close their managerial pay gaps faster than

510
00:25:01,480 --> 00:25:06,000
Speaker 4: all other companies. By contrast, those who stop doing pay

511
00:25:06,080 --> 00:25:10,000
Speaker 4: audits actually saw their managerial pay gaps increase. So that

512
00:25:10,160 --> 00:25:12,719
Speaker 4: is pretty powerful. And if you personally want to support

513
00:25:12,760 --> 00:25:15,520
Speaker 4: Equal Payday, follow along with their twenty twenty one theme,

514
00:25:15,560 --> 00:25:18,600
Speaker 4: which is what's your pay gap as a hashtag, which

515
00:25:18,640 --> 00:25:22,000
Speaker 4: is quite cute, and ask how your workplace measures and

516
00:25:22,080 --> 00:25:25,360
Speaker 4: acts to address its gender pay gap, which I think

517
00:25:25,359 --> 00:25:28,280
Speaker 4: that's just a given. Ask KHR see what they're doing.

518
00:25:28,480 --> 00:25:32,000
Speaker 4: Are they actually running something today to talk about hashtag

519
00:25:32,080 --> 00:25:34,800
Speaker 4: what's your pay gap? Or are they just not addressing it?

520
00:25:34,840 --> 00:25:37,160
Speaker 4: I think it is really really important, and we can

521
00:25:37,240 --> 00:25:40,000
Speaker 4: obviously share that on socials, which I think we should

522
00:25:40,000 --> 00:25:42,800
Speaker 4: all do as well. I know I will be. And

523
00:25:42,840 --> 00:25:45,639
Speaker 4: you can find out more about equal Payday and equal

524
00:25:45,720 --> 00:25:49,440
Speaker 4: pay and literally everything to do with gender equality by

525
00:25:49,480 --> 00:25:52,399
Speaker 4: heading to the WGEA website, which is where we sour

526
00:25:52,440 --> 00:25:54,399
Speaker 4: still a lot of our stats for today's show, So

527
00:25:54,520 --> 00:25:56,480
Speaker 4: thank you, big shout out to them for making this

528
00:25:56,680 --> 00:25:59,720
Speaker 4: really easy for us to research, which is very kind,

529
00:26:00,240 --> 00:26:01,560
Speaker 4: but we genuinely love it.

530
00:26:01,520 --> 00:26:03,960
Speaker 3: Because it is a super valuable website, so we'll be.

531
00:26:03,880 --> 00:26:05,560
Speaker 4: Sure to link that in our show notes as well.

532
00:26:05,640 --> 00:26:07,760
Speaker 2: J one hundred percent All right, v D. I think

533
00:26:07,800 --> 00:26:09,560
Speaker 2: that is all we have time for today, but thank

534
00:26:09,560 --> 00:26:12,240
Speaker 2: you so much for the many words of wisdom. I

535
00:26:12,240 --> 00:26:13,919
Speaker 2: feel like I learned a lot today.

536
00:26:13,960 --> 00:26:14,560
Speaker 3: It's good to.

537
00:26:14,760 --> 00:26:16,720
Speaker 2: Kind of see how far we've come and how far

538
00:26:16,760 --> 00:26:19,440
Speaker 2: we still have to grow. And hopefully everyone listening today

539
00:26:19,480 --> 00:26:20,840
Speaker 2: has learned something as well.

540
00:26:21,000 --> 00:26:22,840
Speaker 4: Yeah, I think we all did, and I think it's

541
00:26:22,880 --> 00:26:25,320
Speaker 4: just something we should talk about more often and.

542
00:26:25,280 --> 00:26:26,600
Speaker 2: More keep talking about it.

543
00:26:26,640 --> 00:26:30,000
Speaker 4: But as always, that is all we have time for today.

544
00:26:30,080 --> 00:26:32,600
Speaker 4: So just before we head off, we'd like to acknowledge

545
00:26:32,640 --> 00:26:37,240
Speaker 4: and pay respect to Australia's Aboriginal and torust Right Islander people's.

546
00:26:37,680 --> 00:26:40,879
Speaker 4: They're the traditional custodians of the lands, the waterways and

547
00:26:40,920 --> 00:26:44,399
Speaker 4: the skies all across Australia. We thank you for sharing

548
00:26:44,480 --> 00:26:46,159
Speaker 4: and for caring for the land on which we are

549
00:26:46,200 --> 00:26:48,880
Speaker 4: able to learn. We pay our respects to orders past

550
00:26:49,000 --> 00:26:51,840
Speaker 4: and present, and we share our friendship and our kindness.

551
00:26:51,920 --> 00:26:54,280
Speaker 2: And remember, guys, the advice sheared on She's on the

552
00:26:54,280 --> 00:26:56,800
Speaker 2: Money is general in nature and does not consider your

553
00:26:56,840 --> 00:27:01,600
Speaker 2: individual circumstances. She's on the Money exists for educational purposes

554
00:27:01,640 --> 00:27:03,840
Speaker 2: and should not be relied upon to make an investment

555
00:27:03,960 --> 00:27:07,440
Speaker 2: or a financial decision. And we promise Victoria Devine is

556
00:27:07,480 --> 00:27:12,680
Speaker 2: an authorized representative of Australia Pacific Funds Management Proprietary Limited ABEN.

557
00:27:13,320 --> 00:27:15,920
Speaker 2: Oh gosh, my my screen's fuzzy and I couldn't see

558
00:27:15,920 --> 00:27:17,480
Speaker 2: the numbers and I don't remember them.

559
00:27:18,119 --> 00:27:21,240
Speaker 4: I'll do it an three four two four six three

560
00:27:21,280 --> 00:27:24,840
Speaker 4: two five seven afs L three three nine one five one.

561
00:27:26,359 --> 00:27:30,280
Speaker 4: Don't say I don't do anything for you. But let's

562
00:27:30,280 --> 00:27:33,840
Speaker 4: continue this conversation about equal Payday over in our Facebook

563
00:27:33,840 --> 00:27:37,400
Speaker 4: group where our community is going. I'm assuming rife over

564
00:27:37,440 --> 00:27:41,200
Speaker 4: this topic. We chat money topics, money conversations and share

565
00:27:41,240 --> 00:27:43,800
Speaker 4: tips and tricks every single day of the week, free

566
00:27:43,800 --> 00:27:46,080
Speaker 4: of judgment. Just so She's on the money on Facebook

567
00:27:46,119 --> 00:27:47,359
Speaker 4: and Joiner, we will see the.

568
00:27:47,440 --> 00:27:49,560
Speaker 2: Guys see tomorrow as well. Guys back in your.

569
00:27:49,880 --> 00:27:52,080
Speaker 3: Question, yes, check us out.

570
00:27:52,160 --> 00:28:01,080
Speaker 4: We are saturating the pod servers this Sorry, bie, guys,