Press release
Grant Thornton announces its WGEA gender pay gap results and releases the International Women in Business Report
04 Mar 2025
Grant Thornton Australia has once again achieved industry leading results in the recently released annual company reported gender pay gap information published by the Workplace Gender Equality Agency1 (WGEA).
Grant Thornton’s average total remuneration gender pay gap is -2.4 per cent while the median is -4.4 per cent, meaning at a firm level, average pay for women was only slightly higher than average pay for men in the last WGEA reporting period (2023-2024).
Holly Stiles, Partner, National Head of Corporate Finance and Executive Sponsor of the Gender Equity Network at Grant Thornton said, “Our firm has been taking positive action through numerous gender equity initiatives and policies for many years. We are proud of the work we have done to advance gender equity, particularly since the creation and implementation of our Gender Equity Action Plan in 2021 and the launch of our Gender Equity Network in 2022, but we also acknowledge there’s still work to be done in our own firm, our industry, and across Australia to ensure there is no gender pay gap and that we have all genders well represented at all levels in any organisation. A Gender Pay Gap closest to zero is considered optimal and it is the aspiration of Grant Thornton to remove any gender pay gap in favour of either men or women.”
In recognition of International Women’s Day 2025, Grant Thornton International has released its 21st edition of the Women in Business report, which explores the journey towards equity in senior leadership positions among mid-market firms.
Globally, the percentage of senior management roles held by women at mid-market firms is rising, increasing by 0.5 percentage points to 34 per cent between 2024 and 2025. Asia-Pacific continues to be the region with the lowest overall percentage, with only 33 per cent of senior management roles at mid-market firms held by women. While there has been progress towards parity over the last five years, more work is needed to achieve the target at a faster rate.
Locally, Grant Thornton Australia encourages various opportunities for women, female-identifying individuals, and allies to engage in gender equity initiatives throughout their careers. The organisation runs its Gender Equity Network (GEN), which hosts events, webinars workshops and various other initiatives for members and allies to learn about and to help promote the achievement of gender equity. As a certified Family Friendly workplace, initiatives such as the 9-Day fortnight and 26 weeks of paid parental leave (including payment of superannuation on unpaid leave) have empowered team members of all genders to excel in their professional lives, while balancing family and other responsibilities and activities.
In conjunction with these initiatives, the firm has also been focused on increasing the representation of women in senior positions across the firm, to work towards a gender balance at senior leadership levels that reflects the gender balance across the firm. Women currently represent 40 per cent of its governing Board, 33 per cent of its National Executive team, and 27 per cent of its Partner group, the latter increasing by 6 per cent over the past three years.
Holly Stiles continued, “Driving change needs committed leadership and voices from the top with a pipeline of strong female talent coming through. The advancement of female senior leaders is essential to fostering diverse perspectives within our organisation. This is a key priority for our firm, and we are committed to driving change through concrete actions over the long term. With recent global debate on the value of Diversity and Inclusion initiatives, the International Women in Business Report’s results confirm the need for champions to continue leading in this space to achieve parity.”
Research from the Women in Business report has found 19.3 per cent of businesses confirm their gender equality strategies lead to better decision-making, and 23.1 per cent confirm these strategies have also made the business more innovative. The research also shows 77.6 per cent of mid-market businesses are receiving pressure from clients and stakeholders around gender diversity. Among firms that have experienced external pressure, the proportion of women in senior management is higher, at 37.1 per cent, 3.1 percentage points above the global average, showing prospects, clients and potential investors play a key role in accelerating action.
Katherine Shamai, Risk Consulting Partner at Grant Thornton said, “As a woman who has been fortunate to have mentors and sponsors (both male and female) in my career, I recognise the importance of these roles, and actively encourage and support our team to seek out mentors and sponsors. Having someone for professional guidance is essential, but it is equally important to have an advocate and champion who can represent your interests, and give you the support and push you to fulfill your potential. The flexibility and trust built at our firm has helped retain female talent, which is crucial as the consulting and advisory industry faces a significant and ongoing skills shortage. Our clients also benefit greatly when we bring diversity of thought to working with them and intelligently solve complex problems."
Workplace Gender Equality Agency Gender Pay Gap
The Workplace Gender Equality Agency’s (WGEA) produces annual company reported gender pay gaps for organisations with 100 or more employees published publicly on wgea.gov.au. The most recent WGEA reporting period was from 1 April 2023 to 31 March 2024.
1While the WGEA results study the data for our people nationally, it does not include Partners, Principals, or Directors.
Research methodology of the Grant Thornton International Women in Business Report
For 21 years, Grant Thornton International’s Women in Business Report has cast a light on issues surrounding gender diversity in senior management among the world’s mid-market businesses, exposing barriers and identifying actions for change. The International Business Report (IBR) is the world’s leading survey of mid-market companies. Launched in 1992, the IBR provides insights into the views and expectations of around 14,000 businesses. The findings in this Women in Business 2025 report are drawn from interviews conducted between July and September 2024.
Experts / Authors
Ailish Parr
Communications Manager at Grant Thornton Australia
