What does it take to reach the top levels within a company? While there are many ways to hone your leadership abilities and progress your career (such as developing new mindsets and strengthening your people skills), an advanced degree can also help. For many leadership roles in business, a Master of Business Administration (MBA) may be required or preferred.
Another key factor in charting a path to leadership and management roles relates to the gender gap. As of September 2022, 44 women led Fortune 500 companies — a record high. While this represents some progress, women are still under-represented in executive roles, with this number of women leaders making up only about 10% of Fortune 500 CEOs.
The Southeastern Oklahoma State University (SOSU) online Master of Business Administration (MBA) with a Concentration in Leadership program empowers graduates to lead organizations in achieving business goals while addressing the leadership gender gap. Achieving gender equity at every level of leadership is not just a matter of equality but also good for business performance.
What Is the Gender Gap in Leadership?
To put the leadership gender gap in perspective, consider the following facts:
- According to Statista, women make up 51.1% of the U.S. population, as they have since 2013.
- Women outnumber men in earning bachelor’s and master’s degrees, as reported by the National Center for Education Statistics (NCES).
- Women hold nearly 52% of all management and professional jobs, according to the S. Bureau of Labor Statistics (BLS).
- Regardless of holding half of management jobs, only 25% of those in C-suite positions are women in the U.S., according to Investopedia.
- Women earn about 82 cents for every dollar men earn (meaning there’s an overall 18-cent pay gap on the dollar).
- Women comprise about half of U.S. workers and are increasingly family “breadwinners,” yet they account for most consumer spending. This makes women an integral part of the workforce and economy and a main source of financial income for families.
- Women of color face even greater obstacles: 2021 marks the first time two African American female CEOs made the Fortune 500 list.
The Fortune 500’s CEO gender gap represents a much larger problem. In its Women in the Workplace 2023 report, McKinsey & Company notes that representation of women drops at successively higher rungs on the corporate ladder:
- Entry level: 48%
- Manager: 40%
- Senior manager/director: 36%
- Vice president: 33%
- Senior vice president: 27%
- C-suite: 28%
Leadership professionals with knowledge of these statistics can make an impact on the need for representation in the workplace.
How Does Diverse Leadership Benefit Business?
What business would say no to improving profits? Hiring more women at the senior levels may be the best way to do that. According to Frank Recruitment Group, 87% of Fortune 500 companies with female CEOs were more profitable than those run by men in 2021.
The case for improving leadership diversity is strong. Harvard Business Review notes “that firms with more women in senior positions are more profitable, more socially responsible, and provide safer, higher-quality customer experiences.
How Does SOSU’s Online MBA in Leadership Program Help Graduates Advance Their Careers?
SOSU’s online MBA in Leadership program prepares graduates with a solid foundation in business essentials such as financial management, accounting, marketing, economics, data analysis, leadership and organizational behavior management. The Leadership Theories and Practices course examines, among other topics, “gender as a leadership. The Team Development Behaviors course explores leadership strategies women can use to build confidence, “reduce situational ambiguity, and avoid the pitfalls of negative stereotypes when negotiating or managing conflict.”
A common barrier to leadership for women is the “double bind” that results from gender stereotypes. Writing for LinkedIn, Nicola Skorko explains how “if women in the workplace are warm and compassionate, they are considered too soft. But when they are assertive, they’re seen as too aggressive.”
SOSU’s program courses also prepare graduates to:
- Negotiate and manage conflict
- Apply leadership theory to sharpen managerial performance and develop an authentic leadership style, presence, theories, approaches and behaviors
- Lead organizations in implementing practices that advance gender equity and form cohesive teams
Earning an MBA increases earning potential and empowers career advancement. According to the GMAC 2022 Corporate Recruiters Survey, 92% of recruiters expect to hire new MBA graduates and pay them a median annual salary of $115,000, with median bonuses of $10,500. These salaries exceed those offered to graduates with a bachelor’s degree by anywhere from 22% to 40%.
SOSU’s online program can help graduates make the most of their MBA. This degree program prepares students with the tools to attain professional goals and the skills to ensure gender equity is a leadership priority.
Learn more about Southeastern Oklahoma State University’s online MBA with a Concentration in Leadership program.