A number of studies have shown that women overall tend to be less confident about their retirement than men. But a new study released today by Wells Fargo shows that this holds true even for wealthy women.
“Despite the fact that women hold half the high-paying managerial positions in the U.S. workforce and they make the majority of household buying decisions, women continue to lag behind men in their confidence in preparing for retirement,” says Karen Wimbish, director of retail retirement for Wells Fargo.
The Report found that, in 2010, more than 104 million women between 18-64 years old were actively engaged in starting and running new business ventures, contributing significantly to entrepreneurship in all 59 economies studied. Another 83 million women were running established businesses that they started over 3½ years earlier. Taken together, 187 million women were involved in creating and operating enterprises, ranging from just over 1.5 percent to 45.4 percent of the adult female population in these 59 economies. Although entrepreneurial activity among women is highest in emerging economies (45.5 percent), the proportion of all entrepreneurs who are women varies considerably among the economies: from 16 percent in the Republic of Korea to 55 percent in Ghana–the only economy with more women than men entrepreneurs. A multi-year analysis shows that this gender gap has persisted across most economies for the past nine years (2002-2010).
The 2011 Study of High Net Worth Women’s Philanthropy is the latest in a series of industry-leading reports that began in 2006. The latest report is based on nationwide surveys of wealthy donors completed in 2010 and 2011, and was again conducted in partnership with The Center on Philanthropy at Indiana University.
The ION 2011 Status Report on women directors and executive officers of public companies provides a breadth and depth of regional information not available anywhere else. It addresses the issue of board turnover and the extent to which public companies continue to miss significant opportunities to increase the gender diversity of their boards. “Gender Imbalance in the Boardroom: Opportunities to Change Course” includes data from Fortune 500 companies in 14 geographic areas, as well as hundreds of small and mid-cap businesses that comprise the backbone of U.S. regional economies. Now in its eighth year, the 2011 ION report also offers nominating committees, sitting directors and executive recruiters specific suggestions on how they can increase the momentum of change.
At least 80 percent of college-educated Brazilian women aspire to top-level positions, compared with 52 percent in the U.S., and 59 percent of Brazilian women consider themselves “very ambitious,” compared with 36 percent in the U.S., according to the study. Twenty-eight percent of women with a college degree earn more than their husbands in Brazil, less than the 39 percent of U.S. women with a degree that earn more than their husbands.
The study, which will be presented in Sao Paulo today, drew on an online survey and interviews with more than 4,000 men and women with at least a bachelor’s degree equivalent in Brazil, Russia, India, China and the United Arab Emirates.
Quickening economic growth and rising costs of living have propelled Brazilian women to aim high in their careers, said Ripa Rashid, executive vice-president at the New York-based non- profit research group. While growth has slowed this year as the European debt crisis deepens, unemployment is at record lows and some Brazilian cities are experiencing full employment.
While banks have courted women clients in the past, Wells Fargo, Citigroup Inc., Barclays Plc and others are increasingly focused on getting the assets of high-earning women executives, said Sylvia Ann Hewlett, founding president of the New York- based Center for Work-Life Policy.
They’re targeting them now through these events that bring “like-minded” women together rather than overtly selling products, said Lisa Caputo, founder and former chairman and CEO of Women & Co. at Citigroup. It’s a more prudent strategy since women don’t react well to “financial services wrapped in pink,” an approach that some firms have taken in the past, said Caputo, who is now executive vice president of marketing and communications at the Travelers Cos. in New York.
The Bottom Line: Corporate Performance and Women’s Representation on Boards (2004–2008) is the fourth in Catalyst’s Business Case series. The business case for women in management contends that companies that achieve diversity and manage it well attain better financial results, on average, than other companies. In this report, Catalyst used three measures to examine financial performance: return on sales (ROS), return on invested capital (ROIC), and return on equity (ROE).
The 2011 Catalyst Census: Fortune 500 Women Board Directorsexamines women’s representation in corporate governance at the largest companies in the United States. This annual report provides critical statistics to gauge women’s advancement into leadership and highlights the gender diversity gap.
When Americans picture an immigrant entrepreneur, they likely imagine a man who began the migration of his family, later bringing his wife over to become a volunteer assistant in the shop. This image is straying farther and farther from reality as more women open their own enterprises. Yet the idea that immigrant women might be the owners and originators of some of our restaurants, motels, Silicon Valley hi-tech firms, local real-estate agencies, or other entrepreneurial ventures has yet to become conventional wisdom.
Today, immigrant women entrepreneurs abound in every region of the United States. In 2010 for example, 40 percent of all immigrant business owners were women (1,451,091 immigrant men and 980,575 immigrant women). That same year, 20 percent of all women business owners were foreign-born.
California’s Glass Ceiling May Take a Century to Crack.
The UC Davis Graduate School of Management in partnership with Watermark publishes the annual "UC Davis Study of California Women Business Leaders: A Census of Women Directors and Executive Officers."
Our seventh annual study details the presence of women at the very top of the 400 largest publicly held corporations headquartered in the state. Our findings paint a disappointing picture of female representation on the boards and in the executive suites of these high-profile companies, which together represent nearly $3 trillion in shareholder value.
Women still hold fewer than one in 10 of the highest-paid executive positions and board seats at the top public firms in California — a rate that has improved by just 0.2 percent annually.