The number of Women MBAs in top Business Schools has steadily increased over the past 10 years, with schools accepting 30-40% women candidates in the past two years. However, a more disturbing finding is the rising pay gap between Men and Women professionals. The gap is exacerbated in a management position at both mid-level and senior positions. There are several reasons for this gap. We shortlisted four major reasons:
1) Low Expectation
This might be the major reason why pay levels for Women management professionals don’t catch up with their men counterpart. The thought process for most Women MBAs is to settle for a reasonable fixed salary. The performance linked variable pay dissuades women management professionals from aggressively pursuing a higher base salary. Men on the other hand understand the need to start with a higher base salary, and would haggle until the breaking point is reached, and then quickly adopt a moderate to high variable pay.
The lower expectation does not start at the graduate level but a Study conducted by Universum in 2013 shows that women undergraduates pursuing an...
GMAC has released the 2013 Women and Graduate Management Education report. The report is based on data collected from 2003 to 2012, and offers details of women as they have progressed from management education to careers in management.
Here is the summary of the key findings
1) 2012 Volume: 122,843 Women took GMAT tests in 2012, representing 43% of all the GMAT test takers.
2) Growth: For the fourth consecutive year, Women GMAT test takers have crossed the 1,00,000 mark showing a 43.72% growth from 2003
3) Largest Representation: US women showed the largest representation (38%) of the global Business School women applicants.
4) Top 5 Countries where the number of women test takers exceeded men counterparts were from China, Taiwan, Russia, Thailand and Vietnam
5) Fast Decision: Women applicants took 3.4 years to decide whether to join a Business School against 4.75 years for men
6) Full-time MBA: In 2012, 46% of all Women GMAT test takers intend to join Full-time MBA program in 2012
7) MS Finance More Popular: According to 2012 data, Masters in Finance was much more popular among...
If you compare the entry criteria – GMAT, GPA, Experience, and the application requirement – Essays & Recommendation Letters, there is very little to choose between Women and Men MBA Applicants. What makes the difference is the school’s need to maintain diversity. Read “Why Business Schools are obsessed with diversity” to understand why.
Here is the summary:
1) Diversity is a hedge against Economic Downturn
2) Diversity improves the strength of the Alumni Network
3) Diversity of the Class attracts diverse recruiters.
But when you think about diversity only from a Gender point of view, Business schools realize that the presence of Women executives at C-Level and other top management positions have increased over the past 10 years. It is only a natural progression to accept more women applicants to top MBA program.
According to the GMAC Application volume trends 2012 - Of the total Full-time MBA Applicants, 39% were women. A larger section of women applicants applied to...
Gender pay gap is a reality among Women employees; they are especially predominant among Women MBAs with the income gaps ranging between $10000 and $11,000. Although measures are being taken to represent more Women in an MBA class, the number of GMAT test takers would give us hints on whether the supply meets the demand.
According to the latest GMAT Volume data by Gender, the number of Women GMAT test takers has increased consistently with an average annual growth rate of 4.3% reaching 122843 during 2011-12. A positive trend seen in the report is that from 2008-09 to 2011-12, the gap between the number of women and men GMAT test takers have fallen by 15000.
Another interesting trend seen in the report is the shortening of gap in Mean GMAT Score between men and women from 41...
F1GMAT: Tell us a little bit about yourself
Kavita Singh: I have grown up and lived all over the world: Calcutta, Dubai, Delhi, Oxford, London and New York. It was a great experience and has shaped who I am quite fundamentally.
I am extremely passionate about innovation, and have spent my entire career in new product and new business development. I was lucky to have discovered my passion early on in my career and realized that as long as you follow what you are passionate about, you are much more likely to be successful in whatever you do. It also made me realize that as your interests develop, you should ensure you let both you and your career evolve with it. We now have the opportunity to make multiple career shifts in our lives, but the common link between those shifts should be what you are most passionate about. I have worked across several different industries – confectionary, personal care, healthcare and education - but the common thread across all of those was innovation.
I have found that an MBA lets you make those career shifts and changes because it helps...
Recently I read a Wall Street Journal article titled “Women MBAs Continue to Lag in Pay, Promotions”.
The article is based on the “Pipeline’s broken promise” research by Christine Silva published in Catalyst, a New York City-based nonprofit focused on women in the workplace, and argues that despite having similar educational backgrounds and experience, female MBA holders are still not getting the same pay, positions, or promotions as their male colleagues.
The study, which had more than 9,000 respondents who graduated from 26 MBA programs between 1996 and 2007, found that starting from the first job post-MBA women lagged behind male respondents. For example, 60% of women respondents reported that their first job was at an entry-level position, as opposed to 46% of male respondents.
First Salary:Women also earned an average $4,600 less than men in their first job, even if they had the same amount of previous work experience, the study found.
According to the article, Ilene Lang, president and chief executive officer of Catalyst, attributes the disparity to something she calls “bad first boss syndrome.” The experience sours...
1.Tell us a little bit about yourself
I have a BS from Wharton and an MBA from Kellogg. I am fascinated by the power of marketing. I love writing, coaching others and I am a big believer in the MBA degree. It took me a while to put all of these pieces together, but once I did , I found my perfect career. MBA Admissions Consulting has been incredibly inspiring, exciting and rewarding. I love helping people fulfill their dreams and advance in life, and have shown that I am quite good at it!
My company has now assisted thousands of people, published 15+ e-books, hosted scholarships, presented to groups around the world, and published a popular blog since 2005. I am thrilled to have been able to positively impacted so many people as they pursue very ambitious goals.
2. What were some of your observation and takeaways when you assisted the admissions committees at Kellogg Graduate School of Management and Wharton School...