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Gender equality.
What we’re doing to foster a working environment that is inclusive for everybody.
Our focus on gender equality.
We have a strong focus on gender equality and have put substantial effort into championing the achievements of inspiring and influential women.
In some countries, like Australia and the United Kingdom, big businesses are required to publicly report on their gender pay gap every year. While this is not mandatory as yet in New Zealand, we’ve chosen to voluntarily publish our data since 2019.
We wanted to spark meaningful conversations about pay equity, and what steps are needed to achieve greater fairness. Many other large New Zealand companies have also now started to make this information available.
Our work.
Recognising the gap
Westpac’s gender pay analysis
Our findings.
Gender pay equity
This means paying men and women equal money for doing equal work. We’ve more or less achieved this, and where the difference exists, it is largely due to factors like experience or tenure, and we continue to monitor this to support equitable outcomes.
Gender pay gap
This is the gap between the median pay of men and women across all roles in an organisation. The gender pay gap at Westpac NZ in 2025 is 25.2%, down from a gap of 25.8% in 2024.
Our gender pay gap.
The national gender pay gap is 5.2% (8.2% last year), according to figures published by Statistics NZ for June 2025. This figure does not include superannuation. If we followed the Statistics NZ methodology, our gender pay gap in 2025 would be 24.5%.
Our gender pay gap largely reflects historical characteristics which are common to our industry. Traditionally, in banking, management roles were predominantly filled by men, and front line service roles by women. Our ongoing efforts to promote balance, including growing more women leaders, are beginning to make a difference. While a disparity still exists, we’re seeing encouraging signs of steady improvement.
Our gender pay gap calculation includes all full-time equivalent salary with any variable reward, special awards, higher duties allowance and superannuation contributions, and excluding overtime (together, ‘pay’). We think this is the fairest and most honest measure of the pay gap for our organisation.
What are we doing?
We recognise that meaningful change to our gender pay gap requires doing things differently. That’s why we’ve taken deliberate steps to move closer to gender pay parity:
- Publish a comprehensive annual gender pay analysis report.
- Increase the proportion of our Women in Senior Leadership roles which is currently 43%. This figure was 37% in 2019 when we started to publish our information. The figure is improving over time.
- Continue to detect and reduce any disparities in pay equity.
- Monitor and address the gender imbalance across various roles and levels.
- Review related policies and processes as needed to make sure they support our gender pay efforts.