Goldman Sachs Global Markets Institute
Closing the Gender Gaps: Advancing Women in Corporate America
The Global Markets Institute (GMI) has just released a new report: Closing the Gender Gaps: Advancing Women in Corporate America.
Consider this: women in the US need to work four years longer than men to overcome the persistent gender wage gap. But perhaps more revealing is how much of that gap cannot be explained by measurable factors captured in labor market studies: the majority of the 20% pay disparity, according to a new report from Goldman Sachs’ Global Markets Institute. Gender imbalances in hiring play a role, but the fact that women make up about 40% of employees at S&P 1500 firms – but only 6% of CEOs – suggests that adjusting hiring practices can’t be the cure-all.
In Closing the Gender Gaps: Advancing Women in Corporate America, the authors focus instead on some of the factors affecting women as they progress through their careers, offering strategies companies can use to level the playing field. These include helping women re-enter the workforce or “upshift” their careers, carefully reviewing compensation data, and adding women to companies’ boards.