MEDIA RELEASE: It will take 139 years before women have the same education-linked earnings potential as men because female study choices are too often deeply undervalued, according to the latest findings from Financy.

Bianca Hartge-Hazelman, founder of Financy, says whilst Australia celebrates that more women than men pursue higher education studies, it is not a measure of gender equality.

It is shocking to realise on this International Women’s Day that no-one alive today will witness gender equality as a result of educational choices being made in Australia.

“It makes me very sad, and also very angry, to think that, at the current rate of progress, neither my daughters, nor any grandchildren, will live to see equality achieved. It won’t even be my great-grandchildren – in fact, it will be my great- great- great-grandchildren who achieve equal education-linked earnings potential. That is far too long to wait.”

In measuring earnings potential, Financy looks at the gender gap across total enrolments in schools and university-led programs, different fields of study and the average expected earnings in subsequent career options, in order to assess future earnings for men and women.

Ms Hartge-Hazelman says the huge 139-year time frame – which is the biggest across all areas measured by the FWX – comes despite female enrolments in higher education being greater than male for much of the past two decades*.

“The fact is that the fields of study selected by women are less linked to higher potential earnings, and the pace of change in this area is extremely slow moving.

“This measurement, which we regard as a long-term driver of gender equality progress, has been slow to change because of the lag between educational choice and actual career earnings outcomes.

“As it stands, too many female dominated sectors and roles have inferior earnings potential relative to male dominated industries and roles**.

“To accelerate equity in education and expected career earnings, we need to look closer at the way society and business values women’s contribution to the workplace, and address labour market conditions to ensure that remuneration is indeed appropriate.

“If appropriate action is taken today, then it’s possible that our children will be alive to see equity,” she says.