Representation of women on boards is increasing, but the gender and pay gap at Chair level is still very much alive.

Representation of women on boards is increasing, but the gender and pay gap at Chair level is still very much alive. 

Ahead of International Women’s Day this Sunday, we’ve run the numbers on gender representation and board pay across the S&P/ASX 300. The data shows where boardrooms are making progress in closing the gap, and which positions remain male dominated.

Women now hold 37.5% of all board seats across the S&P/ASX 300, and when focusing specifically on non-executive directors, representation rises further to 42.3%. This reflects steady progress over the past decade as Australian boards continue to prioritise diversity and broader perspectives in governance.

However, representation at the Chair level tells a different story.

Women account for only 16.1% of board Chairs, highlighting a significant gap in the most senior governance role. Looking at the S&P/ASX 20 specifically, every Chair position is currently held by a man.

When it comes to Chair positions, women are losing out in more than just representation, with female Chairs being paid 7.2% less than their male counterparts. This gap is not driven by lower fees for women within comparable companies. Instead, it reflects where women are serving as Chairs. Female Chairs are more commonly found in smaller organisations, where Chair fees are typically lower, while the largest companies with higher remuneration continue to have fewer women in the role.

Interestingly, the trend reverses when looking at non-executive directors (excluding Chairs). Female non-executive directors are paid, on average, 5.6% more than their male counterparts. This outcome reflects board composition in larger companies, which tend to pay higher fees and have a higher proportion of female directors.

As International Women’s Day approaches, OpenDirector data highlights both how far Australian boards have come, and where the next opportunities for change lie for female executives and directors. While progress is being made in board representation, the pathway to the Chair role in Australia’s largest companies remains a key frontier for gender equality.

For more insights, and to keep up to date with the latest executive and director data across Australia’s boardrooms, head to www.opendirector.com.au