At the current pace of progress, it will take 22 years to reach parity for white women—and more than twice as long for women of colour. Put another way, it will take 48 years for the representation of white women and women of colour in senior leadership to reflect their share of the U.S. population. This is true parity for all women.
This sobering reality is revealed in the 10th-anniversary report of Women in the Workplace, a comprehensive study examining the state of women in corporate America. While the report highlights some important progress, it also underscores a troubling reality: while companies have made strides in advancing women, particularly at the entry-level, progress has stalled at the manager level, and for women of colour, the challenges are even greater.
In 2024, women make up 29% of C-suite positions, a significant increase from 17% in 2015. Yet, progress has been much slower earlier in the pipeline. The “broken rung” – the first critical step from entry-level to manager – continues to hinder women’s advancement. For every 100 men promoted to manager in 2018, only 79 women were promoted, and in 2024, that number only rose to 81. This creates a significant hurdle for companies to achieve sustained progress at more senior levels. The report highlights the persistent underrepresentation of women of colour, particularly Black women, at all levels of corporate America. They hold just 7% of C-suite roles, a stark contrast to white women’s 22%. This stark disparity points to the need for companies to go beyond simply increasing the number of women in leadership roles and focus on creating a truly inclusive culture that supports the advancement of women of colour.
Beyond representation, the report also sheds light on the experiences of women in the workplace, and unfortunately, the news isn’t good. Women continue to feel their gender will limit their opportunities for advancement, and women of colour are more likely to believe their race has made it harder. This is especially true for younger women, who report experiencing ageism more frequently than their older counterparts.
The report goes on to highlight the important role of managers in fostering an inclusive workplace. While companies have made strides in setting inclusion as a priority for managers, employees aren’t necessarily reflecting this in their behaviour. This suggests that companies need to invest more in training and development for managers to equip them with the skills and tools they need to be effective allies and advocates for women and women of colour.
The report also underscores the importance of workplace flexibility, which has become a critical factor in employee well-being and retention. However, companies are showing early signs of scaling back on flexibility. This is concerning, as it could disproportionately impact women who have been most likely to benefit from these policies. To achieve true parity for all women, the report calls for a bigger playbook. Companies need to go beyond simply adding more women to their ranks and instead focus on creating a culture of inclusion that is truly supportive and equitable. The report also urges companies to invest in their managers, providing them with the resources and training they need to be effective allies and advocates for women. Finally, the report emphasises the importance of creating a workplace that is truly flexible and supportive of all employees, regardless of their gender or background.
The path forward for corporate America is clear: stay committed and keep going. We know that women deserve better, and we believe that corporate America can do better. By working together, companies can create a workplace where all women can thrive and reach their full potential.