Women in Management: Delusions of Progress
Title: Women in Management: Delusions of Progress
The accepted message on gender disparity in the workplace has for the past 10 to 15 years been one of acknowledgment and reassurance: Yes, women represent just 3% of Fortune500 CEOs and less than 15% of corporate executives at top companies worldwide, but give it time. It’ll change. After all, women also make up 40% of the global workforce, with double-digit growth in certain countries. They’re earning advanced professional degrees in record numbers and in some areas surpassing men. Companies have implemented programs to fix structural biases against women and support their full participation in leadership. Women are finally poised to make it to the top, the argument goes. Not yet, but soon.
If only that were true. New research by our firm, Catalyst, shows that among graduates of elite MBA programs around the world—the high potentials on whom companies are counting to navigate the turbulent global economy over the next decade—women continue to lag men at every single career stage, right from their first professional jobs. Reports of progress in advancement, compensation, and career satisfaction are at best overstated, at worst just plain wrong.