The average income of a person employed in the banking industry in Australia is $116,000, the 2025 Employer Gender Pay Gaps report from the Workplace Gender Equality Agency shows.

The average income for an executive in the upper quartile is $215,000, which is 3.7 times the average income of $58,000 for a banking staffer in the lower quartile.

The Pay Gaps report is the only source Banking Day knows of relating to industry incomes at a granular level, and derived from surveys of 374 financial services firms.

The report, via its Data Explorer dashboard, discloses remuneration by each employer surveyed, and there is a wide disparity in average incomes reported by employer.

For example, Macquarie Group, predictably, pays handsomely, with an upper quartile income of $487,000 and an average of $219,000.

At Commonwealth Bank upper quartile income is $288,000 and the average income is $164,000.

Women represent 67 per cent of lower quartile employees in banking, and 36 per cent of upper quartile executives.

The WGEA also surveyed banks on their equal remuneration policy and strategy.

Perhaps surprisingly, only 61 per cent of banks have an objective to achieve gender pay equity.

And only 45 per cent had an explicit objective to close the gender pay gap.