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Morgan Stanley, UBS Pay Men 40% More Than Women in Australia
Posted
February 29, 2024
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February 29, 2024
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0:56Now PlayingMorgan Stanley and UBS Group AG’s Australian operations are paying male staff over 40% more than women on average, according to company level data released by the Australian government for the first time on Tuesday.
Units of Barrenjoey Capital Partners Pty Ltd. and Bank of America Corp. also have median gender pay gaps of a similar magnitude, in a sign of how deeply compensation differentials are entrenched in the finance industry despite years of high-profile diversity initiatives intended to narrow the chasm.
Similar disclosure programs in other countries have also shown substantial gaps: in Japan for example, women working for top banks earn little more than half the amount of their male colleagues.
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