Gender pay gap: how Sharesies stacks up
At Sharesies, our purpose is to create financial empowerment for everyone—this includes how we think about the pay and benefits for our incredible team.
As a B Corp, we're committed to creating benefit for all people, communities, and the planet. We’re an Accredited Living Wage employer, which means that we are committed to paying our people, at a minimum, a living wage, and we partner with TupuToa to help provide opportunities to grow Māori & Pacific leaders for a greater Aotearoa.
We also have a diverse leadership structure—60% of the Board, two of our three co-CEOS (3EOs), and 50% of our Executive Leadership Team identify as women.
However, we know that there’s still more that we can do—which is why we’re pleased to join a growing number of New Zealand companies committed to publicly reporting their gender pay gaps on the Mind the Gap registry. Reporting is a proven way to help narrow and close pay gaps.
The Sharesies remuneration policy principles centre around making sure pay and benefits are equitable and fair—and we regularly review these.
While we’ve made progress in this area, we also recognise there’s more work to do to truly create an equitable and inclusive workplace.
So what’s the gap?
When we compare the median level of base pay for men and women at Sharesies, there’s a gender pay gap of 9.8% as at September 2022.
In NZ the national gender pay gap—the gap between men and women’s median hourly pay—is 9.2%, and 25% in the financial and insurance services industry.
2.65%Sharesies' median pay gap
2.08%Sharesies' mean pay gap
8.6%Overall median pay gap for New Zealand*
30.2%Median gender pay gap for the financial and insurance services industry*
Sharesies’ gender pay gap calculation includes all permanent and fixed-term employees (who identify as men and women and have shared that information with us) based in New Zealand and Australia, including our leadership team.
The calculations are based on a comparison of the median of men and women’s pay at Sharesies—not a comparison of like-for-like roles. Due to the size of our business, this pay gap can shift significantly as people move in and out of Sharesies.
What are we doing to reduce our gender pay gap?
Closing the gender pay gap is an ongoing priority for Sharesies. Some of the things that will help us achieve this goal are:
Continuing to make pay equity a part of the annual remuneration review for our people, and when we bring on new staff
Measuring and publicly reporting our gender pay gap annually
Regularly updating our recruitment practices and principles so we’re inclusive, welcoming, and supportive, and that the process suits the needs of candidates
Offering flexible working arrangements (including hybrid and remote working) and allowances, additional parental leave allowances, and free period products in our offices
Our Belonging and Equity Working Group, which was established in 2021
Creating our Emerging Leaders Programme to grow and develop our emerging leaders (non-people leaders).
Ensuring we pay our team equitably for the work they do is a priority for us. We're focused on working through the actions above, identifying other opportunities to increase gender pay equity and reduce our current gap—and reviewing our progress annually.
We’re also mindful that gender isn’t binary—so while pay gap reporting currently focuses on the male/female split, we’re committed to creating equity in our workplace regardless of how our people identify.
You can read more about pay reporting on Mind the Gap's website.
Ok, now for the legal bit
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