Facts

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Business Employment & Leadership

Key Facts from Business, Employment & Leadership pulled from sources below.

  1. Women own 40% of businesses in the US and growing at a rate of 2x faster than businesses as a whole- these 8 million women-owned enterprises have an annual economic impact of nearly $3 trillion.
  2. According to World Bank estimates, women own or operate between 25-33% of all private businesses globally.
  3. Between 1970 and 2009 women went from holding 37% of all jobs to nearly 48% in the US.
  4. Nearly 50 years after the Equal Pay Act became law, American women working full-time are paid just 77 cents to the dollar compared to their male counterparts.
  5. Females earn 11% less than males on average, are paid less than males in every industry and in many industries the gender pay gap has widened in the past 14 years.

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7 of the 10 lowest-paid occupations in the United States are restaurant occupations. Most of these occupations are majority female and pay median wages below the poverty line.

Servers – of whom 71 % are female – are almost three times more likely to be paid below the poverty line than the general workforce and nearly twice as likely to need food stamps as the general population.

Nearly 37 percent of all sexual harassment charges filed by women with the Equal Employment Opportunity Commission (EEOC) come from the restaurant industry - more than 5 times the rate for the general female workforce.

Tipped Over the Edge: Gender Inequity in the Restaurant Industry, 2012

In North America, women held 9.9% of senior private equity roles in 2012, up from 8.9% in 2011.
In Europe, women held 9.2% of those jobs in 2012, up from 9.1% in 2011.
In Asia and the rest of the world, women had 10.4% of top PE jobs, up from 8.7% in 2011.

PEHub 2012

Recent data from Catalyst shows that women 15 and older accounted for 47.3 percent of the Canadian workforce.

In the US 58.1% of all women 16 years and over were in the labor force.

Statistical Overview of Women in the Workplace 2012

Women own 40% of businesses in the US and growing at a rate of 2x faster than businesses as a whole- these 8 million women-owned enterprises have an annual economic impact of nearly $3 trillion.

According to World Bank estimates, women own or operate between 25-33% of all private businesses globally.

Scaling Up: Ernst and Young 2009

46% of women-owned companies earn $10,000 or less and about 80 percent have annual revenues of less than $50,000. Despite the growing number of women entrepreneurs, only 3 percent of women-owned businesses have revenues of $1 million or more compared with 6 percent of men-owned businesses.

A study found that given equal resumes, women with children are 79 percent less likely to be hired than women without children.

The Shriver Report 2010

None of Minnesota‘s 21 Fortune 500 companies are led by a woman.

Twenty-eight (28%) of Minnesota‘s top 100 publicly held companies have no women directors and 31% have no women corporate officers.

Sixty-six percent (66%) of Minnesota‘s Fortune 500 Human Resources executive officers are women, while only 16% are Chief Financial Officers.

Women make up the majority of Minnesota‘s workforce: 80% of women with children work, and 51% of Minnesota‘s working mothers are the primary breadwinner for their family, representing a 27% increase in the past two years.

Women's Foundation of Minnesota 2012

Between 1970 and 2009 women went from holding 37% of all jobs to nearly 48% [Catalina Leadership 2012]

Females earn 11% less than males on average, are paid less than males in every industry and in many industries the gender pay gap has widened in the past 14 years. [2009]

Goldman Sachs JBwere Investment Research

At the DAVOS WEF (World Economic Forum) in Sweden: 80 percent of attendees were men, women often were a minority of one on panels or not represented at all. Sheryl Sandberg was one of six co-chairs of the forum; the rest were men. Panels on the future of banking, energy supplies, international finance and global risks were among those with no women except moderators, even with a forum theme of "The Great Transformation: Shaping New Models."

About 20 percent of the panel speakers at 2012 WEF were women, up from 17 percent last year. About 80 percent of the WEF's partner companies brought mixed-gender delegations.

Mary Tolan, the founder and CEO of Accretive Health Inc., was the only woman around the table at WEF.

San Fransisco Chronicle January 2012

Nearly 50 years after the Equal Pay Act became law, American women working full-time are paid just 77 cents to the dollar compared to their male counterparts.

Due to the wage gap, full-time working women in New York collectively lose more than $22,340,000,000 each year. If the wage gap is closed, working women in New York and their families would have enough money for more than a year’s worth of food; 4.4 months of mortgage and utility payments; 9 additional months of rent; 3 extra years of family health insurance premiums; or more than 2,000 gallons of gas.

New York State Pay Equity Coalition (2011)

The number of women participating in the work force went from about 41% to 56% over a 40-year period. If they didn't join the work force, that would have been a 25% hit to GDP.

In the corporate world today, about 53% of the workers coming in are women. The female participation rate kind of goes 53% at the entry level, and then 37% at the next level up—lower-middle management. Then, at the VP level, it's 28%. And at the executive committee, it's about 14% and then, 3%.

Rebecca Blumenstein The Wall Street Journal November 2011

Among Fortune 500 companies, women constitute only 3 percent of the CEO s, 6 percent of the top paying positions and 16 percent of the corporate officers. [2009]

Women have reached the CEO level in only four of the 14 industries covered by the Fortune 500—and even in these four industries, over 95% of the CEOs are male. [2009]

Among Fortune 500 companies, women account for 15 percent of the board members; 13 percent of these companies have no women on their boards. [2009]

women make up 48 percent of the labor force and 51 percent of all management/administrative/professional positions – but progress beyond this point is stalled and has been for the past three years. [2009]

The wage gap widens as women age and move up the ladder into management. Women make only 78 percent of what men make – an improvement of less than half a penny a year since 1963 when The Equal Pay Act was signed. African-American women make 64 percent and Hispanic women make 52 percent of what white men make. [2009]

Profits at Fortune 500 firms that most aggressively promoted women have been shown to be 34% higher than industry medians. [2009]

The stock value of European firms with the highest proportion of women in power rose 64% over two years, compared with an average of 47% for all businesses, according to a McKinsey & Company study. [2009]

The White House Project 2009

A recent report called Women Matter 2010 found that companies with a higher proportion of women in their executive committees are also the companies that have the best performance. [2011]

Firms with women investment partners are 70 percent more likely to lead an investment in a woman entrepreneur than those with only male partners. [2011]

The high-tech companies that women build are more capital- efficient than the norm. [2011]

Despite often being capital-constrained, women-owned businesses are more likely to survive the transition from raw start-up to established company than the average company. [2011]

Organizations that are the most inclusive of women in top management achieve 35 percent higher returns on equity and 34 percent better total return to shareholders versus their peers. Research shows that gender diversity is particularly valuable where innovation is a key asset. [2011]

Women currently hold 2.8 percent of Fortune 500 CEO roles and 3.3 percent of Fortune 1000 CEO roles. [2011]

Overall, Women in Business in 2010 only included 7.6 percent of Fortune 500 top earners, 51.5 percent of management, professional, and related occupations, and 46.7 percent of the U.S. labor force. [2011]

Gillibrand, Kirsten, Women's Economic Empowerment, 2011.

Women continue to dominate professions traditionally done by women, which typically pay less, accounting for over 95 percent of all kindergarten teachers, librarians, dental assistants and registered nurses in 2009.

In 2009 women accounted for less then 21 percent of computer programmers which was down from over one-third of the population since the late 1980s. Similarly, women's share of civil engineering declined from 13 percent in 2005 to just over 7 percent in 2009.

IWPR's briefing paper "Separate and Not Equal? Gender Segregation in the Labor Market and the Gender Wage Gap." 2009

The ratio of women's and men's median annual earnings, was 77.0 for full-time, year round workers in 2009, essentially unchanged from 77.1 in 2008. (this means the gender wage gap for full-time year-round workers is now 22.9 percent.) This is below the peak of 77.8 percent in 2007.

An alternative measure of the wage gap, the ratio of women's and men's median weekly earnings for full-time workers- was 80.2 in 2009, which is essentially flat since the historical high of 81.0 in 2005.

Institute for Women's Policy Research, Fact Sheet, September 2010

Women working full-time year-round continue to be paid only 77 cents for every dollar paid to their male counterparts in 2010. [2011]

The Daily Beast 2011

Median earnings for most women of color are even lower. In 2009, the earnings of African American women were 67.5 percent of all men’s earnings, and Latinas’ earnings were 57.7 percent of all men’s earnings. [2011]

Additionally, more than half of married households have both spouses working and therefore women’s pay inequity hurts these middle class families’ economic stability. In single parent households, more often than not it is a woman as the sole caretaker of the children. [2011]

Women may lose $434,000 in income, on average, over their lifetime due to the career wage gap. This harms women’s ability to save for the future, including retirement and their children’s higher education. [2011]

Women with college degrees earn about $713,000 less than men over 40-year careers. [2011]

The legal profession had the biggest pay gap - a lifetime pay gap of $1,481,000. [2011]

A recent report showed that for 111 occupations for which there was sufficient data to analyze, women earned less than men in 107, or 96 percent of these occupations. [2011]

The four occupations where women make more than men are: combined food prep and serving workers, including fast food (112.1 percent), bill and account collectors (109.5 percent) stock clerks and order fillers (105.1 percent), and counselors (104.9 percent). [2011]

Gillibrand, Kirsten, Women's Economic Future in America, 2011.

Women make up 48% of the labor force and 51% of all management/administrative/professional positions – but there has been little progress beyond this point. For the past three years, women in top leadership positions across 10 different sectors have stalled at 18% (on average) – with numbers much lower among women of color. [2009]

Six years of polling by The White House Project and GfK/Roper Public Affairs (in polls conducted in 2007, 2005 and 2002) have found that both women and men in large numbers—in some cases, as high as 90% (and never lower than 70%)—are ready to see women in the highest positions of leadership. [2009]

Women’s “transformative” leadership style — making institutions more transparent, responsive, accountable and ethical — has been found to be more effective in leading modern organizations than men’s “transactional” approach, according to a Harvard Business Review analysis. Even national security and international security issues are being dealt with using these transformative leadership styles that women have created and championed for decades. Women are best-suited to steer these hotly debated issues to a successful solution — and lead our companies and our country from crisis to prosperity. [2009]

The White House Project 2009


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