Fastest-growing jobs for women

Using job-growth projections from 2008 to 2018, and factoring in fields that are comprised of 70% or more women, a researcher has come up with a list of the top 20 jobs that will be in demand over the next 10 years and are attractive to women seeking job flexibility. Health care jobs dominate this ranking, as a listing of these jobs in Forbes magazine illustrates. For women concerned about their job security in these difficult times of recession, paying close attention to these trends is important.

However, most of the jobs on this list do not pay very well, and they also do not account for opportunities in male-dominated industries that may offer better earning potential and interesting, less traditional career paths. One bittersweet  lesson may be that seeking job flexibility in traditionally female-dominated fields will certainly hurt the paycheck!

The share of women holding CFO positions remains steady

A recent count of women holding Chief Financial Officer (CFO) positions at Fortune 500 companies finds little change from the previous year.  According to CFO Magazine, there are today 44 female CFOs among Fortune 500 companies representing 8.8% of the total. This figure is the same as the year before. While the figures at least have not declined, less than 10% female representation among CFOs is nonetheless dismal.

Women’s under-representation in these posts is likely to have negative business consequences. A recent study by Babson College found that investors respond more favorably to certain financial moves by companies whose CFOs are women. This research found that over the three years following the year of the CFO’s hiring, the total growth in assets was 17 percent lower at the companies with women CFOs. But it also showed that the deals that did get made were of higher quality, at least in terms of investor response. This track record should be enough to start considering more women for CFO level post.

New research recommends steps to strengthen women’s business potential

Several leading American organizations focused on supporting women in business have just released The Roadmap to 2020, a comprehensive action plan that hopes to increase revenue growth and job creation among women’s businesses over the next decade. The roadmap recommends a paradign shift in business development, arguing the additional support could help generate an additional 6 million jobs over the next decade.

You can read the press release and download the full report on the website of Quantum Leaps, a non-profit that mobilized the study participants.

A toolkit for women seeking a raise

An interesting new article in the New York Times puts the spotlight on the issue of the continued gender pay gap and what happens when women seek a raise. Women in the United States still make only 77 cents for every dollar made by men. The earnings disparity is evident in many other countries, despite women’s educational advancements. One key issue – women are less likely to ask for a raise. The article points to several underlying issues, including the fact that women may have lower expectations and men are more likely to negotiate higher starting salaries. But women in the workforce can use specific tools to remedy this situation. This includes doing research on industry salary trends and coming to the negotiation armed with numbers, or approaching the boss at an opportune time to ask for a raise. Negotiations are not always comfortable – but the overall results may be well worth it!

Female talent in emerging markets

The issue of how woman can further business goals is emerging markets is getting increasing attention. Companies around the world are realizing the potential of both furthering their business interests as well as contributing to social and community development by focusing on women. Initiatives such as the World Bank’s Private Sector Leaders Forum bring together companies eager to share lessons and do more to empower women.

New research is also helping bolster the case for action. For example, a new study “In Plain Sight: Female Talent in Emerging Markets” uses surveys, focus groups, and comparative data to assess the potential of women in Brazil, Russia, India, China, and the United Arab Emirates. The authors have just published an article summarizing the main findings in the Harvard Business Review. They focus on the need to find and nurture the untapped female talent. Forbes Magazine has recently interviewed the authors, and you can read the transcript here.

Welcome to our blog!

The Global Banking Alliance for Women is a membership organization of private sector financial institutions committed to mainstreaming the growth of women in business and women’s wealth creation worldwide. This blog will be an online forum for sharing helpful updates about member projects and accomplishments, posting information and updates about our work, and highlighting the work of other organizations that work to support and grow women in business. We look forward to fruitful conversations.