Using the hashtag #EqualFuture the bank has conducted a social experiment with a group of young boys and girls. The children were asked to do a set of household chores and once they were completed, they were given pocket money for their efforts.
The girls receive less than the boys as a reflection of the financial inequality that still occurs today. Many reacted with shock.
“If I was Prime Minister I’d make it illegal,” says one girl.
A new Gender Pay Gap report, commissioned by the Australian Council of Trade Unions (ACTU) which highlights the financial inequality experienced by women at all stages of her life, found that financial disadvantage begins with pocket money during childhood.
“We found that young girls who get pocket money get 11 per cent less than boys who get pocket money,” ACTU president Ged Kearney said. “We’re talking about a bias in this area from the very, very beginning of young women’s lives.”
A woman with a bachelor degree can also expect to earn $1.5 million less than her male counterpart with similar qualifications over her lifetime.
According to the Workplace Gender Equality Agency, the gender pay gap in 2013 was 17.1 per cent when the average weekly income women working full-time was $1,270.30 compared to men who were earning $1,532.80.
International Women’s Day, celebrated on the 8th of March each year, is the perfect time to bring attention to the issue and make real change towards financial gender equality.