By Claire Suddath
20 October 2019
If you’re an American corporation—or a woman who works at one—I have good news for you. OK, also some bad news.
The good news is that all those diversity targets and unconscious bias training seminars are slowly paying off. According to McKinsey and Lean In’s annual Women in the Workplace report, 44% of companies now have three or more women in their C-suite, up from just 29% in 2015. Women still account for only a fifth of top executives and 30% of senior vice presidents, but they’re being promoted at a faster rate than men, which is narrowing the gap.
Now for the bad news: At the vice president level and below, female employees are still treading water in their careers. Women hold nearly half of all entry-level positions at the 590 companies surveyed, but only 38% of positions just one step up. For some reason, they’re just not being promoted. For every 100 men offered their first career promotion, only 72 women move up. Black and Latina women have it particularly hard; they’re promoted at just 58% and 68% the rate of men, respectively.
Read the full article on Bloomberg.