Women ,in general, have been underrepresented over the past nine years, that is, between 2015 and 2023. It is a hard truth that women of colour in American are still highly underrepresented in the corporate world. However, not all is lost. There has definitely been some improvement, according to the Women in the Workplace 2023 report by McKinsey. There has been an increase in the number of women in the C-suite in the past nine years. From 17 per cent in 2015, they now form 28 per cent of the C-suite. Their presence in VP and SVP roles has also improved significantly.
The underrepresentation of course continues. At the beginning of 2023, white men accounted for 34 per cent of entry-level roles and 42 per cent of managerial roles. About 48 per cent were in senior manager roles, while 53 per cent were in VP positions, 58 per cen tin SVP roles and 58 per cent in C-suite.
On the other hand, white women accounted for 29 per cent of entry-level roles and 27 per cent of managerial roles. About 27 per cent were in senior manager roles, while 26 per cent were in VP roles, 21 per cent in SVP roles and 22 per cent in C-suite roles.
When it came to men of colour, 18 per cent were in entry-level roles, 18 per cent in managerial roles, 16 per cent in senior manager role, 14 per cent in VP roles, 15 per cent in SVP role and 15 per cent in C-suite. Women of colour accounted for 18 per cent of entry-level roles, 13 per cent of managerial roles, nine per ce/director-level roles , seven per cent each of VP and SVP roles and only six per cent of C-suite roles.
The good news, however, is that the number of women at the entry level has also gone up seven per cent to reach 48 per cent in 2023. Percentage of women managers has gone up eight per cent to 40 per cent in 2023. Compared to 2015, the percentage of women senior managers/directors has also increased 13 per cent, to 36 per cent. There is a whopping 65 per cent increase in their representation in C-suite. Women now account for 28 per cent of C-suite positions.
While there is progress, it is definitely slow. Only about one in four C-suite leaders is a woman, while only one in 16 C-suite leaders is a woman of colour.