Women Need Coaching in Corporate Climb
(Wall Street Journal) — Inadequate career development has kept women from reaching the top ranks of the corporate ladder, according to a report set to be released Tuesday by management consulting firm McKinsey & Co. The report, which examines barriers to women’s advancement in corporations, is primarily based on a 2011 survey of 2,525 college-educated men and women, including 1,525 individuals employed by large companies, mainly in management. Despite efforts by major companies, just a handful of women have ascended to the leadership pinnacle, the McKinsey report concluded. Only 11 chief executives of Fortune 500 companies are women, down from a peak of 15 in 2010, according to a spokeswoman for Catalyst Inc., a nonprofit women’s research group. There were two Fortune 500 female CEOs in 2000, up from one in 1995, Catalyst said in a 2000 report. Similarly, the McKinsey study cited a 2010 Catalyst report that said 37% of lower-level and middle managers are female, while just 26% of vice presidents and other senior managers are women at Fortune 500 companies. McKinsey plans to release the results during a “Women in the Economy” conference sponsored by The Wall Street Journal in Palm Beach, Fla.