Women Are Still Paid Crap, and What We Need to Do About It
LatestIt would be lovely if the delusional pundits who insist that the gender wage gap is a myth were correct. (We also wish that ocean levels weren’t rising, people could easily teleport to work, and Hogwarts was real. We have a lot of dreams.) Sorry, blustery self-satisfied old dudes: women still aren’t getting paid and promoted in equal measure. A few recent studies and proposals, although imperfect, at least acknowledge that concrete steps need to be taken around the globe.
A new Catalyst study of 1,660 MBA grads worldwide found that men land business projects that offer twice the budget and three times the staff as those led by women. This relates to general exposure, too — 35 percent of men said they experienced “high visibility” in their field, as opposed to 25 percent of women. Thus, as Bloomberg‘s Diane Brady puts it, “women’s careers can get stalled by lesser projects that aren’t even on the CEO’s radar screen.”
The report leaves a lot of questions unanswered — it doesn’t differentiate by industry, geography, or demographics, or go into whether some women choose smaller projects due to family obligations or lack of self-confidence/support — but Brady’s takeaway is noteworthy:
What Catalyst’s latest poll of this group does prove is the fact that nothing trumps experience on the job. Coaching and lactation rooms are great. But if leaders aren’t putting their high-potential women in mission-critical roles that come with high risk and hefty budgets, they’re not serious about their commitment. Instead of boosting programs that nurture top women, smart leaders should look at whether they’re truly offering assignments that help women stretch.
But how can you get women into top positions if you don’t “nurture” them? The European Union has an idea that (trigger warning!) might literally make some Tea Partiers explode: make them. The EU proposed a new rule today that would require non-executive boards of publicly traded companies with over 250 staff members to have a certain percentage of women on their boards — the target would be 40 percent by 2020 — or suffer unspecified penalties.
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