Recent graduate statistics in Australia have shed light on significant gender pay gaps across various industries. The data, derived from the government-endorsed Graduate Outcomes Survey based on 2024 data, reveals disparities in earnings between men and women with equivalent tertiary education qualifications.
One striking revelation is the $26,000 pay gap experienced by postgraduates in the banking and finance sector, where women earn only 78.3% of their male counterparts’ salaries. This disparity extends across all study areas, with an average gender pay gap of $2,800 for undergraduates and $12,000 for postgraduate coursework completers.
The survey, which surveyed over 117,000 recent graduates, highlights a gradual narrowing of the gender pay gap over time but underscores that female graduates continue to earn less than their male peers at all educational levels. The most significant gaps were observed among postgraduate coursework graduates, particularly in industries like health services and law.
Surprisingly, even in fields traditionally dominated by women such as Nursing and Teacher education, female graduates earn less than their male counterparts. The report funded by the Department of Education also identified exceptions to the gender pay gap, notably in careers related to communications and pharmacy, where women tend to outearn men.
While the overall trend shows a slow but steady reduction in the gender pay gap, the employment landscape for recent graduates has seen fluctuations. Full-time graduate employment rates have declined from their peak in 2023, affecting undergraduates and postgraduates alike. In 2024, only 74% of graduates secured full-time jobs, down from 79% in the previous year.
Moreover, the survey highlighted the varying employability rates across industries, with 94.9% of rehabilitation graduates obtaining full-time employment compared to just 48.4% of creative arts graduates. These findings underscore the importance of understanding the dynamics of the job market and the impact of educational qualifications on employment prospects and earnings.
As the Australian workforce evolves, addressing gender pay gaps and enhancing employment opportunities for graduates remain critical objectives. The insights gleaned from the Graduate Outcomes Survey provide valuable data for policymakers, educators, and industry stakeholders to foster a more equitable and inclusive employment landscape for all recent graduates.
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