info@ceoworld.biz
Friday, March 29, 2024
CEOWORLD magazine - Latest - CEO Agenda - How Difficult Is It For Women To Make It To The Uppermost Income Brackets?

CEO Agenda

How Difficult Is It For Women To Make It To The Uppermost Income Brackets?

Ginni Rometty

Surely, all the talk about the gender equality (the glass ceiling, the locked door, and the sticky floor) but it’s terrifying especially when women are only 12% of Forbes’s list of 400 richest people in the United States (and most of them are heiresses).

Also among Fortune 500 companies this year, there are only 24 female CEOs. How difficult is it for women to make it to the uppermost income brackets?

A new report on “Gender Differences among Top Earners, 1981- 2012,” by the economists Fatih Guvenen, Greg Kaplan and Jae Song revealed interesting – if familiar – insights.

From Sheryl Sandberg, Meg Whitman, Indra Nooyi, Mary Barra, and Ginni Rometty —- despite the progress, it sometimes seems like only superwomen break through the glass ceiling.

While females make up about half the working population, their representation in the top 1% still lags way behind that of men, and that’s even more true for the 0.1%.

Ginni Rometty

How unequal is the top 1 percent when it comes to gender?

– In 2012, a worker had to earn at least $1,018,000 to be included in the top 0.1% of the earnings brackets and at least $291,000 to be included in the top 1% earnings brackets.

– For the most recent 5-year period, a worker needed to have average earnings above $918,000 to be included in the top 0.1% earnings brackets, and above $282,000 to be in the top 1% earnings brackets.

The good news: More and more women have made it into the top 1% of American earners.

The bad news: There’s still very few of them in that exclusive club — top 0.1 percent of American earners.

– In the past 30 years, women went from 1.9% of the “Top 0.1 Percent Earners” to 10%.  Among the remaining highest earning females (The Top 1 Percent Earners), women increased their presence from 3.3% to 17%.

– Among the “top 0.1 percent highest earning females”, from 2000 onward, the share of women been stuck at around 10 percent.

The top 0.1 percent highest earning females–  In 1981-85, females constituted just 1.9 percent, by 2008-12 the corresponding shares of females had risen to 10.5 percent and 17.0 percent, respectively.

In 1981-85, there were 50.6 men for every one woman in the top 0.1 percent of earners, whereas in 2008-12 there were 8.5 men for every woman.

Among the top 1 percent of earners, in 1981-85 there were 29.3 men per woman, whereas in 2008-12 there were 4.9 men per woman.

– Now it’s become more likely for women to stay on top 1% or top 0.1% after they make it.

– These days, 31% of  top 0.1 percent of earners come from the finance or insurance sector, though, is not responsible for getting more women into the top 0.1%. Across all sectors, women have been breaking the glass ceiling.

But how general is the phenomenon of females rising to the top?


Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.


Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact: info@ceoworld.biz
SUBSCRIBE NEWSLETTER
CEOWORLD magazine - Latest - CEO Agenda - How Difficult Is It For Women To Make It To The Uppermost Income Brackets?
Prof. Dr. Amarendra Bhushan Dhiraj
Prof. Dr. Amarendra Bhushan Dhiraj is a publishing executive and economist who is the CEO and editor-in-chief of The CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Additionally, he serves as the chair of the advisory board for the CEOWORLD magazine. He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He earned his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.


Prof. Dr. Amarendra Bhushan Dhiraj is CEO and editor-in-chief of CEOWORLD magazine. You can follow him on LinkedIn, Facebook, Twitter.