Table 1. OLS regression output:...

Table 1.

OLS regression output: coefficients, standard errors and p-values

Dep. variable	Average total remuneration GPG (%)	R-squared	0.391
Model	OLS	Adj. R-squared	0.39
Method	Least squares	F-statistic	554.8
Date	Sat, 19 April 2025	Prob (F-stat)	0
Time	113,248	Log-Likelihood	5,943.3
No. observations	7,791	AIC	−1.19E + 04
Df residuals	7,781	BIC	−1.18E + 04
Df model	9
Covariance type	Nonrobust

Dep. variable	Average total remuneration GPG (%)	R-squared	0.391
Model	OLS	Adj. R-squared	0.39
Method	Least squares	F-statistic	554.8
Date	Sat, 19 April 2025	Prob (F-stat)	0
Time	113,248	Log-Likelihood	5,943.3
No. observations	7,791	AIC	−1.19E + 04
Df residuals	7,781	BIC	−1.18E + 04
Df model	9
Covariance type	Nonrobust

	Coeff	Std err	t	p >\|t\|	[0.025	0.975]
Constant	0.0862	0.005	15.728	0	0.075	0.097
Upper quartile % women	−0.5689	0.013	−44.1	0	−0.594	−0.544
Upper-middle quartile % women	0.4242	0.012	35.581	0	0.401	0.448
Total workforce – average total remuneration ($)	−3.24E-06	2.91E-06	−1.112	0.266	−8.95E-06	2.47E-06
Upper quartile – average total remuneration ($)	1.22E-06	7.24E-07	1.681	0.093	−2.02E-07	2.64E-06
Upper-middle quartile – average total remuneration ($)	9.76E-07	7.35E-07	1.327	0.184	−4.48E-07	2.40E-06
Lower-middle quartile – average total remuneration ($)	1.07E-06	7.70E-07	1.384	0.166	−4.44E-07	2.57E-06
Lower quartile – average total remuneration ($)	9.88E-07	7.51E-07	1.316	0.188	−1.37E-06	1.57E-06
Class_other social assistance services	−0.0644	0.007	−9.209	0	−0.078	−0.051
Division_health care and social assistance	0.0389	0.005	7.632	0	0.029	0.049

Omnibus	1,159.889	Durbin–Watson	1.952
Prob (omnibus)	0	Jarque–Bera (JB)	12161.356
Skew	−0.368	Prob (JB)	0
Kurtosis	9.076	Cond. no.	4.22E + 06

Note(s):

Standard errors assume that the covariance matrix of the errors is correctly specified. Total workforce – average total remuneration represents the mean total pay across all employees, providing an overall benchmark for earnings. The upper, upper-middle, lower-middle and lower quartile average total remuneration figures report the mean remuneration within each quartile of the workforce, ranked from highest to lowest earners. Together, the quartile measures illustrate how remuneration is distributed across the workforce and highlight differences between higher- and lower-paid employee group

Source(s): Authors’ own work

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