Women in Austria hold, on average, nearly €52,000 less wealth than men, according to a recent study, highlighting a persistent gap in financial standing. The disparity, revealed in the “Household Finance and Consumption Survey 2023” (HFCS) conducted by the National Bank of Austria (OeNB), exists both in couples and single-person households, though it’s less pronounced among the latter.
The OeNB found that women in couples possessed an average net worth of €193,600 in 2023, compared to €245,500 for men – a difference of 21%. Using the median, the gap narrowed to 15%, or €19,000. This wealth gap underscores broader economic inequalities and has implications for long-term financial security.
Economist Alyssa Schneebaum identified two primary drivers of this disparity. “First, women still earn significantly less than men,” she told the APA, citing a gender pay gap ranging from 11.6% to 17.6% depending on the calculation method. This income difference limits women’s ability to accumulate wealth through investments. A more risk-averse approach to finances among women also contributes to the gap.
Schneebaum also pointed to societal norms and ingrained beliefs as a contributing factor. “Everyone has heard as a child that girls are worse at math,” she explained. This perception often leads to men taking primary responsibility for financial matters within heterosexual couples, regardless of educational attainment. These traditional roles can limit women’s financial agency and knowledge.
The wealth gap, Schneebaum noted, is larger than the income gap “because there is simply much more wealth than income in Austria” and that wealth is unevenly distributed. This imbalance is often exacerbated by inherited wealth, particularly business ownership, which is more frequently passed down to sons than daughters. “Almost no one earns millions solely through employment,” she stated. “Nevertheless, there are households with millions in assets.”
The difference between genders is significantly smaller among single-person households. Single women have an average wealth of €151,400, while single men have €165,900, representing a gap of just 9%. However, the median gap in this group is wider, at 24%. OeNB economist Martin Schürz attributed this to the disadvantages faced by single mothers, who are included in the single-household category, as he explained during the presentation of the HFCS data in December 2025.
The wealth gap in Austria is slowly closing, mirroring the trend in the gender pay gap. Reliable comparative data is limited; the most recent assessment, conducted by Schneebaum and her team in 2017 based on 2014 HFCS data for the Austrian Chamber of Labour, revealed a 28% average gap in couples, with a median of 16.9%.
To further close the gap, Alyssa Schneebaum advocated for policies that promote a more equitable distribution of wealth and income and challenge traditional gender roles. She also emphasized the importance of men taking on a greater share of unpaid care work, currently disproportionately borne by women. Gender-sensitive financial education is also crucial, as “financial literacy isn’t rocket science.” A recent OeNB analysis of 2023 data confirmed that women are less financially literate than men. Despite overall improvements in financial knowledge among Austrians, a gap of 8.4% persists to the disadvantage of women.
The “Gender Wealth Gap,” as it’s known internationally, is calculated based on net worth, which includes assets like cash, property, vehicles, securities, precious metals, and business holdings, minus any debts. This data on private household assets is collected every three years by the European Central Bank’s “Household Finance and Consumption Survey” across the Eurozone.
