Why equal pay is good for business 


Equal Pay Day is an opportunity to raise awareness of the gender pay gap that continues to prevail in the STEM industry. It reaffirms our global commitment to pay parity across gender, writes Katrina Troughton, Vice President and Managing Director, Adobe Australia and New Zealand.
Katrina Troughton, Vice President and Managing Director, Adobe Australia and New Zealand.

The STEM industry has long grappled with gender disparities, with women facing persistent entry barriers and progress ranging from toxic workplace cultures to a substantial gender pay gap. The 2023 STEM Equity Monitor revealed that women in Australia earn 17% less than men across all STEM industries. These barriers discourage women from pursuing STEM careers, leading to underrepresentation that stifles diversity and innovation in the industry. 

The STEM industry’s future relies on diverse talent, and pay parity is one way to achieve greater creativity, innovation and success. People are our greatest asset, and prioritising initiatives that promote diversity is good for our employees and business. Diverse teams make better decisions, and diverse companies are more likely to increase customer loyalty and sales

Global pay parity between women and men was achieved by Adobe in October 2018, marking a fundamental change in the approach to diversity, equity and inclusion. Pay parity was an opportunity to show that all our employees are valued and to level the workforce playing field. Continuing to invest in analysis and transparency shows a commitment to fair compensation. Adobe is also a founding member of Parity.org, which is committed to bringing gender parity to the highest levels of business. 

Over the last 40 years, Adobe has created a strong culture focused on people and purpose, driving the company’s continued innovation and growth. Adobe for All is a commitment to creating a workplace that reflects the diversity of the world where everyone can make an impact. Equally, using our resources and unique strengths to take meaningful action on issues can truly make a long-term impact on the company, our industry and society. 

The results speak for themselves. Great Place To Work recently named Adobe the best medium-sized workplace in Australia. Our culture and commitment to equality have ensured that the best talent sees a long and bright future with Adobe at a time when skills shortages have been a constant challenge. 

The commitment to pay parity is a testament to the power of proactive, transformative change. By recognising that pay equality is not just an ethical imperative but a strategic one, Adobe has set a precedent for the industry to follow and share our processes and lessons learned

Equal Pay Day is an annual reminder for our industry to recognise the power of pay parity, looking forward to a future that celebrates parity achieved rather than a reminder of gaps to be closed. 

Katrina Troughton, Vice President and Managing Director, Adobe Australia and New Zealand.

More from Forbes Australia