PwC scores highest on gender pay equality among big 4 firms

The latest data published by the Workplace Gender Equality Agency indicated that PwC, EY and KPMG all saw at least minor improvements in the gender pay gaps between male and female workers for the 2024-25 financial year.

PwC saw the most significant reduction in its gender pay gap, with the pay gap for median total remuneration falling from 7.3 per cent to 2 per cent, while the gap between median base salary fell from 7.1 per cent in 2023–24 to 2.4 per cent in 2024–25.

KPMG and EY saw more modest improvements for the 2024-25 financial year.

Deloitte remains the firm with the largest gap, at 14.7 per cent for median total remuneration and 14.8 per cent for median base salary. The pay gap for total remuneration for women working at Deloitte actually increased slightly from 14.5 to 14.7 per cent.

It was also the firm with the lowest percentage of women in the upper-quartile portion of earners across the big four firms, with women comprising just 40 per cent of the workers in this category at Deloitte.

EY currently has the second largest gender pay gap among the big four firms with its median total remuneration gap at 13.8 per cent for the 2024–25 year. The firm did see some improvement from its previous 2023–24 figure, with the gap reducing from 15.6 per cent to 13.8 per cent.

KPMG saw a reduction in its pay gap for median total remuneration, from 11.4 per cent to 9.3 per cent, for the 2024–25 year.

The pay gap figures across the big four firms were roughly in line with the average pay gap across all industries and professions included in the WGEA data.

The WGEA data indicated that the average pay gap for total remuneration was 11.2 per cent across all employers in the dataset. The mid-point for employer pay gaps fell for the 2024–25 year by 0.9 per cent, according to WEGA.

Chief executive Mary Wooldridge said the publication of employer gender pay gaps has motivated employers to act on gender equality after progress had previously stalled.

“Many employers have told us publishing their information has helped them prioritise fairness and equality and led to deeper engagement from the C-Suite and Board,” Wooldridge said.

“Results since 2024 show more employers now analyse how managers recruit employees, decide their pay and performance bonuses and determine promotions. Many are also looking past composition and pay to examine women and men’s different experiences of access to parental leave, flexible working arrangements or safety in the workplace.”

While many employers should be celebrating progress, Wooldridge said there is more work to do to ensure Australian workplaces are truly gender-equal.

She noted that employers in high-paying and male-dominated industries were more likely to have the largest gaps.

“The fact that men are nearly twice as likely as women to be in the highest paid roles and that women still dominate the lowest paid roles should offer a reality check for anyone who thinks Australia has achieved equality in the workplace,” Wooldridge said.

Large differences in discretionary payments, like performance bonuses and overtime hours, remain a key driver of many employer gender pay gaps.

“Employers should treat gender equality like their other business goals. Do a detailed analysis to find the issues, create an action plan to address them and set targets to be accountable for ensuring progress happens."