ANZ reports gender and ethnicity pay gaps for 2024

ANZ New Zealand has reported its gender pay gaps for 2024.

ANZ uses two measurements to help better understand and explain the underlying reasons for differences in pay:  the gender pay gap which is a high-level indicator of the average difference between what women and men earn in a company regardless of role; and the pay equity gap which compares the average pay of women and men doing the same or similar role.

In 2024, women at ANZ were paid on average 18.7% less than men—an improvement from a gender pay gap of 20.1% in 2023, 20.5% in 2022, and 22.4% in 2021.

This is the fourth year ANZ has reported on its gender pay gaps — as part of its efforts to build a workplace that supports women, and is equitable, diverse and inclusive.

In 2024 ANZ’s pay equity gap—was 3.9% in favour of women, compared to 3.3% in 2023, 3.6% in 2022, and 3.2% in 2021.

The pay equity gap is partly influenced by women in lower paying roles who, on average, have higher salaries than men, due to their longer tenure.

"The increase in the overall pay equity gap is also a result of a reduction in gap in comparable higher job grade roles, which historically has favoured men."

In addition to reporting its gender pay gap and pay equity gap, ANZ has also reported on its Maori     āori and Pasifika pay gap—the difference between the average pay for Māori and Pasifika and the average pay for European/Pākehā.

Across all roles at ANZ NZ, on average, Māori or Pasifika employees were paid 21.9% less than European/Pākehā employees in 2024, compared to 21.7% in 2023.

Staff are encouraged to record their ethnic identity, and for those who have volunteered to do so—less than half of the total workforce—9.5% identify as Māori or Pasifika, up from 8.7% in 2023.

The widening of the Māori and Pasifika pay gap is mainly due to more employees—including those in higher paying roles—recording their ethnicity as European/Pākehā.

The data shows that there are proportionately more Māori and Pasifika working in lower paying roles, compared to higher paying roles.

Similar to gender, ANZ has a number of initiatives underway to increase Māori and Pasifika representation, especially in more senior and higher paying roles. 

As more staff record their ethnicity ANZ hopes to build a clearer picture of its pay equity.

As one of New Zealand’s biggest companies, ANZ’s current workforce doesn’t reflect the diversity of the country’s communities.

To drive greater representation of women and Maori and Pasifika employees ANZ plans to continue to track and report publicly on its gender and ethnicity pay gaps.

Find out more about ANZ New Zealand’s gender pay gap.