Thinking about getting an MBA? Today’s article was written by Katherine Watson, Co-Founder & Admission Strategist at JK, a consulting firm specializing in cutting-edge tailored Admission Strategies for Applicants from all around the world.
According to the GMAC Global Management Education Graduate Survey, 106,000 women took the GMAT exam last year. More and more women are pursuing graduate business degrees in finance or accounting. Unfortunately, this does not lead to more women in leadership positions or equal salaries for male and female MBA graduates.
- In the US, more than 1/3 of MBA students are women.
- Even though female MBA graduates submitted 20% more job applications than male graduates last year, they received half the job offers (according to GMAC).
- In her first post-MBA job, a woman will earn $4,600 less than a man hired for the same job, (according to a report from Catalyst).
It is not a question of ambition or private life issues
Some people would say that women are less ambitious and not ready to make as many sacrifices as men in their personal lives. If these assumptions are true, why would global companies and top ranked business schools be members of the Forté foundation to promote women in business, encourage female MBAs and increase the number of women leaders?
The truth is a little more complex. First of all, women are wanted at business schools because they are more flexible and can manage work, family and studies while pursuing their MBAs. Women MBAs not only excel in finance but also work in non-profit organizations or even start their own businesses.
Secondly,valuable initiatives for women in business exist. The Forté foundation and the National Association of Women MBAs (NAWMBA) fight to promote women in business and post-graduate education in a modern and efficient way. Instead of starting a discourse about the glass ceiling, let’s think about the solutions.
How to overcome this vicious cycle
As there will be more and more women MBAs graduating, the vicious circle of the glass ceiling can be overcome. Simone de Beauvoir, in her very famous “The Second Sex”, wrote: “One was not born as a woman. One becomes a woman”. Think about it deeply: neither man, nor woman was born successful in business. The opportunity to create genuine success is reachable. Promotion and support for women in business from global companies and foundations amounts to more women MBAs graduating from top ranked business schools. This leads to more women hired by global companies who support foundations like Forté or NAWMBA. With corporate companies following this trend, women in alumni networks all over the world will hire and promote young female graduates and the cycle can finally come to an end.
As there will be more and more women MBAs graduating, the vicious circle of the glass ceiling can be overcome. Simone de Beauvoir, in her very famous “The Second Sex”, wrote: “One was not born as a woman. One becomes a woman”. Think about it deeply: neither man, nor woman was born successful in business. The opportunity to create genuine success is reachable. Promotion and support for women in business from global companies and foundations amounts to more women MBAs graduating from top ranked business schools. This leads to more women hired by global companies who support foundations like Forté or NAWMBA. With corporate companies following this trend, women in alumni networks all over the world will hire and promote young female graduates and the cycle can finally come to an end.
Readers, what do you think? Are you surprised by these statistics about women and leadership?
Photo by University of Salford
About Anna Runyan
The issue is ongoing, but the outlook is promising; both Harvard Business School and Wharton had big bumps in the number of women in their class of 2013. Their classes are around 40 and 45% female, respectively, which is a great sign.
That is great news! Thanks for sharing. I wasn’t aware of these statistics for Harvard and Wharton! Great sign! Thanks for commenting!
I just graduated from a top 10 MBA program with around 40% female enrollment in my class but enrollment is again only half the story. Performance in bschool and after – once in the corporate world is what’s really telling.
Did you read this interesting study? http://poetsandquants.com/2011/04/28/why-do-men-outperform-women-at-harvard-business-school/
It’s about HBS but the findings probably apply to many MBA programs. And it starts to get more at the psychology of most women and how their actions become self-fulfilling in limiting their advancement.
Can’t wait to check out the article! Thanks for leaving to link!! Very interesting!!
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I am not surprised about male MBA grads receiving more job offers with higher pay. It took me 14 months to find a job after bschool, and it is only at the assistant level, despite having experience. All the male MBA holders I know, with similar experience to me, are in management positions.
As a side note, I went to an all-female b-school, which I loved. Anytime I hear about increased numbers of women MBA grads, I get excited.
as I currently sit with my gmat prep books open and about to take the test in 15 days(ugh!) Im not sure how I feel about these statistics! Promising, but I also come from a family where my mother was president of a major bank nationally, so I always feel like the opportunities are out there..i’ve seen it!