Statement on Gender Pay Gap 2025

The Reserve Bank of Australia is committed to fostering an inclusive and equitable workplace where everyone feels safe, respected, and empowered to build a career. Our mission is to promote the economic welfare of Australians through our policies and operations, and to achieve this, we must reflect the diversity of the people we serve. Transparency in our gender pay data is crucial, as it demonstrates our progress in closing the gender pay gap. We are confident that, over time, our strategies will effectively reduce this gap.

In 2023, the Bank’s average gender pay gap for total remuneration was 9.5 percent, as reported by WGEA. Our internal analysis indicates that the 1.1% increase from 2022 is largely due to having fewer women in technical, leadership, and specialist roles, where market remuneration is higher. We have however made progress at the median, with our Total Remuneration gap reducing from 13 per cent in 2022 to 11.5 per cent in 2023.

We acknowledge that there is still work to be done, and the Bank is actively working to close the pay gap and advance gender equality.

Our key initiatives include:

• Renewing our Inclusion, Diversity & Belonging Strategy which includes our Gender Equity Roadmap. The roadmap identifies ways to create new career pathways into the organisation, as well as additional training and sponsorship opportunities to build strong female representation at all levels.
• Focusing on balanced representation: We have achieved our target of 40 percent female, 40 percent male, and 20 percent either male, female, or non-binary representation in management. To maintain this representation, we continue to focus on equitable practices in the way we hire, promote, reward and develop. We provide quarterly Gender Equity and Culture, Diversity, and Inclusion insights to executives around progress against our representation targets, talent pipeline and key trends.
• Ensuring equitable opportunities: We continue to support policies such as gender-neutral parental leave, payment of superannuation on unpaid parental leave, and formalized flexible working arrangements (hybrid and remote working, part-time, job share, flexible working hours). We also provide inclusive hiring training for all hiring managers and aim for gender-balanced and diverse recruitment shortlists as a standard.
• Regularly reviewing pay: We continue to conduct internal pay equity reviews as part of the annual Bank-wide remuneration review to identify and reduce any bias and inequities.