News
Here are some interesting and inspiring world news regarding female empowerment and different milestones that have been reached by either organisations, companies or even countries.
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In 2021, the number of female CEOs in the Fortune 500 companies hit an all-time record of 41 female CEOs. This means there is 8.1% of female in leadership position amongst Fortune 500 companies.
Additionally, three big milestones have been hit by female chief executives. CVS (Fortune 500 #4), worth $268billion in retail pharmacy, is now run by Karen Lynch. Around the same time, Roz Brewer became the first female black woman to become CEO of Walgreens Boots Alliance (Fortune 500 rank #16). Finally, the third milestone is Thasunda Brown Duckett becoming president and CEO of TIAA (Fortune 500 rank #79), a financial services organization.
These three milestones are starting to prove the change among the world’s largest businesses. Another big achievement is the new Citigroup CEO (Fortune 500 #33), Jane Fraser: first woman to run a major Wall Street Bank. Along with Christine Lagarde, currently President of European Central Bank, who is working towards closing the gender gap and navigating leadership in a room full of suits. This again marks big progress for the finance industry.
Overall, the percentage of women running Fortune 500 businesses is improving more and more from the previous years. As Lorraine Hariton (CEO of Catalyst) said: “We’re seeing a recognition that diversity and women in leadership is even more important.”
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It has been discovered that women in the age group of 30 earn around 93 cents on the dollar compared to men, in the U.S. However, in 22 of the 250 metropolitan areas in the U.S., women under 30 make the same or more than their male colleagues according to research made by the Pew Research Center analysis of Census Bureau data.
This gender gap in favour of women under 30 in New York and Washington is slim. They make 102% of what their male counterparts earn. As rare as it is, it’s worth highlighting it! For the other American women in that age range, the wage gap remains an unavoidable reality. Some earn 90- 99% of what their male counterparts make in 107 cities and 80-89% in 103 cities.
Even though the gender gap has become smaller for younger people as more attain higher education, the gap is more present and worsens with age. A gap explained by the so-called motherhood penalty. Therefore, it is already a big step for such a big city like New York City, for women to have a similar wage as their male colleagues.