Historically the top jobs in the financial services sector have been largely a male preserve, but thankfully this is changing.
I am the CEO of ANZ New Zealand at a time when three of our five main banks have female Chief Executives.
Our New Zealand board has four female directors and on the ANZ New Zealand executive team seven of the 14 roles are currently held by women.
But when it comes to the number of women in leadership roles across the wider business we need to do much better.
It is currently less than 40 percent.
Representation of women at the manager, senior manager, and executive levels is 45.8, 38.8 and 34.6 per cent respectively.
The good news is that it’s up from 44.5, 29.7 and 32.7 per cent in early 2020.
Although we pride ourselves on women and men being paid equally for the work they do, those numbers show me that our higher paying roles are still predominantly held by males.
That is why I am really proud that we’ve joined other companies in publically reporting on our gender pay gap - this is the high-level indicator of the difference between what women and men earn.
For the record, when we look across all roles in ANZ New Zealand, on average women are paid 22.4 per cent less than men.
According to Statistics New Zealand the average gender pay gap in the country is 9 per cent.
It’s not good enough and I take it as my responsibility to bring this down.
Companies can’t shy away from this.
We need to be transparent and hold ourselves to account if we are to drive much greater representation of women in leadership and higher paying roles.
The causes of the gender pay gap are complex. According to the Ministry for Women the majority (80 percent) of the gender pay gap is now driven by what research calls “unexplained” factors.