Unfinished Business: The Long Ascent of Women into Corporate Leadership

Abstract
We examine the prevalence of women as corporate executives and directors using new data covering nearly all major American firms, both private and public, from 1950 to 2010. In 1950, only about 5 percent of executives and directors were women. By 2010, women held 11.8 percent of directorships and 15 percent of executive positions. Women made up a larger share of leadership in family-owned firms, smaller firms, and private firms, although public companies became more likely to include at least one woman on their boards after 2000. We also find that female executives were less likely than men to be promoted to higher-ranking positions, move to other firms, or be appointed as corporate directors—even after accounting for their roles and areas of expertise. Despite women’s rapid gains in professional occupations and in the labor force overall, their advancement into top business leadership roles has remained limited. Joint work with Richard B. Baker, Grant Goehring, Eric Hilt and Lior Shabtai.