Financy Women's Index
The Women’s Index measures the progress of Australian women and gender financial equality
Proudly supported by
Financial inequality is a major obstacle to the progress of women, families and future generations
About Financy Women's Index
How we’re tackling Financial Inequality
The Financy Women’s Index™ (FWX) is a quarterly measurement of the economic progress of women and time frames to gender financial equality in Australia.
The FWX provides a snapshot on equality across 7 critical areas and includes both drivers and indicators of progress.
The drivers are Education and Unpaid Work. The indicators are Unpaid Work (dual), Employment, Underemployment, Pay, Board Leadership and Superannuation.
The purpose of the Women’s Index™ is to help drive fearless discussion and action among women, men and key decision makers in the public and private sectors.
The Index is an independent initiative of Financy Pty Ltd, which is advocates for gender financial equality and provides the IMPACTER software to improve organisations performance on diversity, equity and inclusion.
The Index is supported by the FWX Advisory Committee members; Dr Shane Oliver, Simone Cheung, Prof Roger Wilkins, Dr Leonora Risse, Bruce Hockman, Rhiannon Yetsenga and Nicki Hutley.
The Index is proudly sponsored by NGS Super, the Ecstra Foundation, Aspire Planning, Seven Consulting, Bespoke Co and PritchittBland Communications.
What do the latest results tell us about economic equality?
The Financy Women’s Index (FWX) rose to 78.1 points in the September quarter, reflecting further, albeit small, advancement towards economic equality in Australia.
The result is the best gain in two years and cements a correction in women’s financial progress following a decline associated with the Coronavirus pandemic.
The Index rose 2% to 78.1 points in the September quarter from 76.6 points out of 100 in the June quarter, helped by an improvement in female underemployment and a shift among women studying educational fields linked to higher expected career earnings.
- The FWX rose 1.5 points in the Sept qtr. to 78.1 points as the recovery continued in gender financial equality.
- The gender gap in Education narrowed slightly to 92.9% from 92.6% in June as more women took up educational courses linked to higher expected career earnings.
- The gender gap in the Underemployment rate improved to 76%, from 66.3% in June, amid a further jump in female part-time employment growth relative to male.
- On current trends, Education choices remain the biggest barrier with years to equality exceeding 100, there is a 44-year wait for equality in Unpaid Work, 26.7 years in Employment, 24.3 years in the Gender Pay Gap, 19.9 years in Underemployment, 19 years in Superannuation Savings and 5.7 years in ASX 200 Board Leadership.
Financy Women’s Index by Quarter
Financy Women’s Index by Year
Years to Economic Gender Equality
The median timeframe to achieving total gender equality in Australia is 24 years. But the largest timeframe is 139 years based on progress rates in Education.
Meet the FWX
The Financy Women’s Index is supported by an Advisory Committee, who believe in gender equality and the importance of measuring women’s financial progress. The Committee meets regularly to discuss the data findings and the best way forward for the Index to ensure it is as reliable and informative as possible.