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AUST MEN EARN A$1 MLN MORE THAN WOMEN OVER THEIR LIVES: STUDY.(Report)
CANBERRA, April 1 Asia Pulse - Australian men have the potential to earn about A$1 million (US$689,350) more than women over their lifetime, a new report shows.
The AMP Financial Services report shows that while the pay divide has narrowed over the past 20 years, large income gaps between men and women still exist.
The gap for baby boomers is the widest of all generations with women earning 13 per cent less than their male counterparts.
For generation X, those born after the baby boomers between 1964 and 1978, the gap narrows to about 3.5 per cent.
And for generation Y, broadly defined as those born between 1979 to 1995, women earn just 0.6 per cent less than men.
The report also shows the disparity between lifetime earnings between men and women in some circumstances is huge.
A 25-year-old man's potential earnings over the next 40 years is A$2.4 million, compared to A$1.5 million for a woman of the same age.
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Source: HighBeam Research, AUST MEN EARN A$1 MLN MORE THAN WOMEN OVER THEIR LIVES: STUDY.(Report)