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Closing the gender pay gap

As part of our focus on pay equity, we continue to work towards closing our gender pay gap.

Our pay gap data

At ANZ New Zealand we’re working hard to build a workplace that is equitable, diverse and inclusive. This is the third year we’ve reported our overall gender pay gap. It’s encouraging to see an improvement, but there’s more work to do.

We use two measurements to help us better understand and explain the underlying reasons for differences in pay – the gender pay gap and the pay equity gap.

Gender pay gap 20.1%

Favouring men

2023 - 20.1%

2022 - 20.5%

2021 - 22.4%

2020 - 23.6%

The gender pay gap represents the overall difference between the average pay for men and the average pay for women across the organisation, regardless of role.

Our overall gender pay gap in 2023 was 20.1% favouring men which is a small improvement from a gap of 20.5% favouring men in 2022. Despite the work we have been doing to close the gap, progress slowed in 2023 due to total remuneration (including bonuses) being higher in some parts of the business where there is higher representation of men.

The main cause of our gender pay gap is the underrepresentation of women in leadership and higher paying roles. Our initiatives that develop and support women and gender-diverse talent into these roles include:

  • Targeted leadership programmes
  • Our Aotearoa Forward affinity group that provides a network to raise awareness and support work-based gender equality by encouraging kōrero and providing learning opportunities and initiatives particularly for women.

Pay equity gap 3.3%

Favouring women

2023 - 3.3%

2022 - 3.6%

2021 - 3.2%

2020 - 5.0%

The pay equity gap compares the average pay of women and men doing the same or similar roles at ANZ New Zealand.

Our overall pay equity gap in 2023 was 3.3% favouring women. This is influenced by women on average having higher salaries than men in lower paying roles due to tenure.

For comparable higher job grade roles, the pay gap tends to favour men.

We continue to monitor this and work towards closing gaps where they exist, including taking positive action as part of our annual Performance and Remuneration Review process and throughout the year.

This data represents permanent employees of ANZ Bank New Zealand Limited, excluding the New Zealand CEO. Percentages are based on full-time equivalent average Total Pay (salary and superannuation, where it forms part of a fixed remuneration package, plus variable pay). Values (unaudited) are provided by ANZ on a voluntary basis and are as at 30 September of the relevant year.

Gender data in this report is reported using binary female and male categories. ANZ recognises and respects diverse gender identities and is committed to providing a safe, respectful and inclusive workplace for our non-binary and gender diverse employees.

Contact the ANZ Equity, Diversity and Inclusion team

Email us

If you have any questions or would like more information, email us.

edi-nzp@anz.com

ANZ – A great place to belong

We believe in the inherent strength of a vibrant, diverse and inclusive workplace. To find out more, take a look at our careers section to see what life is like at ANZ.