Latest news with #Sangster
Yahoo
22-05-2025
- Business
- Yahoo
MBA Pay Gaps, Promotion Disparities & Leadership Barriers Persist For Women & Minorities: Forté Study
'A third of MBAs of both genders say they have to change jobs to advance and this is much higher for women and minorities,' Elissa Sangster, CEO of the Forté Foundation, says of the nonprofit's findings in its newly released report An MBA still pays off — but for women and underrepresented minorities, the returns come with a ceiling. A new report by the Forté Foundation reveals that despite significant post-MBA salary bumps, women and minority graduates continue to face stark disparities in pay, promotions, and access to leadership. The findings are part of Forté's 2024 MBA Outcomes study, released today (May 22), which surveyed 1,047 MBA alumni from 69 business schools. Respondents, 79% of whom were women and 29% from underrepresented minority backgrounds, reported strong initial salary gains following graduation. But the gender pay gap widens as careers progress, with women consistently lagging men in promotions, management responsibility, and proximity to the C-suite. 'Leadership barriers for both genders have climbed in the last two years, due primarily to lack of a formal career development plan and more women and minorities don't have a sponsor,' says Elissa Sangster, CEO of the nonprofit dedicated to advancing women in business through access to education, career support, and a global community. 'A third of MBAs of both genders say they have to change jobs to advance and this is much higher for women and minorities. Clearly, we can do better than having MBAs believe they have to move out in order to move up. 'We create five-year plans for a business, why not employees?' Forté's study shows that women see an average salary increase of 52% in their first post-MBA role, rising to $131,449. Men, however, see a 73% increase, reaching $140,007. Over time, the pay gap expands. Women in current roles average $179,987 — a 108% increase from pre-MBA salaries — while men average $216,487, a 168% jump. Even after accounting for a two-year age difference, the gap persists. Elissa Sangster, executive director of the Forte Foundation: 'If companies want to retain MBAs, they need to let them know why they belong, reiterate the value they bring, and help them to create a roadmap to advance' Sangster points to several key structural and cultural issues that contribute to this persistent disparity. 'There are at least four structural and cultural changes that could make an impact,' she tells Poets&Quants. 'Lack of a formal career development plan is one stumbling block to advancing in business. Our research found that both men and women cite this as a problem that has grown in the last two years, but it's a bigger problem for women and minorities.' She continues: 'Another obstacle is not having a sponsor, which is a much bigger issue for women and minorities, our research revealed. Women know how important a sponsor is and recent research found that 73% of women who have a sponsor say it helps them to advance faster.' Sangster also calls for companies to conduct more comprehensive compensation reviews. 'A third focus area is to create compensation audits to ensure salary equity but to also look at bonuses, stock options and other financial incentives. Our research found that a greater percentage of men than women value stock options and other financial incentives, but that doesn't mean women don't prioritize them, too,' she says. Cultural shifts in performance evaluation are also necessary, Sangster says. 'Culturally, provide regular actionable feedback and remove bias from performance reviews and in considering women for promotion,' she says. 'Our research found that women are promoted less frequently than men, have fewer direct reports, and are further away from becoming CEO than men. And women are more likely to say they have to leave their job in order to advance.' The disparity in promotions and leadership responsibility backs up Sangster's observations. Men in the survey report receiving 2.3 promotions post-MBA, compared to just 1.4 for women. They also manage nearly twice as many direct reports and are significantly closer to the CEO role. Only 6% of women manage budgets of $50 million or more, compared to 12% of men. To address these disparities, Sangster advises companies to implement structured long-term development plans for their people. 'I'd advise companies to create 1-, 3- and 5-year career development plans for all their people. They have business development plans but are coming up short in doing the same for employees,' she says. 'Another recommendation is to focus more on sponsorship programs and ensure there is equity in terms of who participates in them. 'If companies want to retain MBAs, they need to let them know why they belong, reiterate the value they bring, and help them to create a roadmap to advance.' Business schools, she adds, can help equip students to better evaluate employers and advancement opportunities. 'Business schools need to teach students how to navigate the interview process to ask about company career development plans to help them to pick the best employer to ensure career progress — and to continue to compare employers and ask questions after landing their first post-MBA job,' Sangster says. But she stresses that alumni must take initiative as well. 'This is a two-way street and MBA graduates and alumni need to ask questions throughout their career. Does the company have written and transparent guidelines on how to reach the next level? Do they have sponsorship programs available to all employees to help them advance? If there is no sponsorship program, how do they set up their people for success?' For those without access to formal structures, informal networks can be key. 'If a company does not have a sponsorship program, create one informally by connecting with someone at their employer who is an alum of their school. Our research found more than a third of MBAs say they have to leave in order to advance, so it is critical to prioritize networking 10 years out and longer, not just in the early years post MBA. Those connections can be the key to identifying opportunities to move up,' she says. One area where women are leading is in the use of AI to support career development. According to the report, women are more likely than men to use AI to optimize resumes (64% versus 51%), improve cover letters (59% versus 41%), and practice interview questions. Women are also more likely to use AI on the job for continuous learning and identifying automation opportunities. Sangster believes these efforts need greater institutional recognition. 'Most companies do provide some kind of learning and development platform or resources for their employees. But my guess is that a lot of them don't formally track it in a way that gets incorporated into performance reviews, feedback, or is included in criteria for promotion,' she says. She urges companies to close this loop. 'If learning and development is important enough to an organization that they are providing resources or funds to employees, then they've got to come full circle with it. Completion of those courses or skill development programs has got to make its way into performance reviews and employee evaluations for a promotion. If you are promoting people in your organization who aren't investing in their ongoing learning and development, then it's likely you are making a mistake,' she says. The study also touches on shifting workplace values. Remote and flexible work arrangements remain the top-rated benefit for both genders, but priorities diverge in other areas. Women value time-related benefits like paid time off (54% versus 40%), while men are more likely to prioritize financial perks like stock options (47% versus 29%). Finally, the study exposes a striking perception gap in views on workplace equality. Men are significantly more likely than women to believe gender parity has been achieved, with men scoring 3.11 out of 5 when asked if equality exists in the workplace. Women score the same question at just 2.18. The gap extends to perceptions of pay parity and optimism about the future of business, suggesting that cultural awareness is just as critical as compensation audits and career ladders. DON'T MISS The post MBA Pay Gaps, Promotion Disparities & Leadership Barriers Persist For Women & Minorities: Forté Study appeared first on Poets&Quants. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Glasgow Times
14-05-2025
- Sport
- Glasgow Times
Sangster considering Curragh option for Flight and Simmering
The Manton inmates went down valiantly when filling the placings behind Charlie Appleby's Desert Flower in the 1000 Guineas at Newmarket and having come out of that contest well, their handler feels a trip to the Curragh on May 25 could suit either of his high-class fillies. Sangster said: 'They have both come out of it spot on and both have an entry at the Curragh for the Irish 1,000 Guineas – they both won't go but one of them might and we'll just see how the next week or so goes. 'Simmering has nice form there at two and was second in the Moyglare, but the big, galloping nature of the track I think will suit Flight, so it would be a good fit for either of them, depending on what connections want to do and how the fillies are doing.' The duo also have entries for the Coronation Stakes at Royal Ascot, with that big-race assignment very much on the agenda for the coming months. Sangster added: 'Whether either of them go to the Curragh or not, the primary target at the moment would be the Coronation Stakes at Royal Ascot. That is what we will be working back from, it's just whether they have a run in the meantime.'
South Wales Guardian
13-05-2025
- Sport
- South Wales Guardian
Sangster considering Curragh option for Flight and Simmering
The Manton inmates went down valiantly when filling the placings behind Charlie Appleby's Desert Flower in the 1000 Guineas at Newmarket and having come out of that contest well, their handler feels a trip to the Curragh on May 25 could suit either of his high-class fillies. Sangster said: 'They have both come out of it spot on and both have an entry at the Curragh for the Irish 1,000 Guineas – they both won't go but one of them might and we'll just see how the next week or so goes. 'Simmering has nice form there at two and was second in the Moyglare, but the big, galloping nature of the track I think will suit Flight, so it would be a good fit for either of them, depending on what connections want to do and how the fillies are doing.' The duo also have entries for the Coronation Stakes at Royal Ascot, with that big-race assignment very much on the agenda for the coming months. Sangster added: 'Whether either of them go to the Curragh or not, the primary target at the moment would be the Coronation Stakes at Royal Ascot. That is what we will be working back from, it's just whether they have a run in the meantime.'
North Wales Chronicle
13-05-2025
- Sport
- North Wales Chronicle
Sangster considering Curragh option for Flight and Simmering
The Manton inmates went down valiantly when filling the placings behind Charlie Appleby's Desert Flower in the 1000 Guineas at Newmarket and having come out of that contest well, their handler feels a trip to the Curragh on May 25 could suit either of his high-class fillies. Sangster said: 'They have both come out of it spot on and both have an entry at the Curragh for the Irish 1,000 Guineas – they both won't go but one of them might and we'll just see how the next week or so goes. 'Simmering has nice form there at two and was second in the Moyglare, but the big, galloping nature of the track I think will suit Flight, so it would be a good fit for either of them, depending on what connections want to do and how the fillies are doing.' The duo also have entries for the Coronation Stakes at Royal Ascot, with that big-race assignment very much on the agenda for the coming months. Sangster added: 'Whether either of them go to the Curragh or not, the primary target at the moment would be the Coronation Stakes at Royal Ascot. That is what we will be working back from, it's just whether they have a run in the meantime.'
Rhyl Journal
13-05-2025
- Sport
- Rhyl Journal
Sangster considering Curragh option for Flight and Simmering
The Manton inmates went down valiantly when filling the placings behind Charlie Appleby's Desert Flower in the 1000 Guineas at Newmarket and having come out of that contest well, their handler feels a trip to the Curragh on May 25 could suit either of his high-class fillies. Sangster said: 'They have both come out of it spot on and both have an entry at the Curragh for the Irish 1,000 Guineas – they both won't go but one of them might and we'll just see how the next week or so goes. 'Simmering has nice form there at two and was second in the Moyglare, but the big, galloping nature of the track I think will suit Flight, so it would be a good fit for either of them, depending on what connections want to do and how the fillies are doing.' The duo also have entries for the Coronation Stakes at Royal Ascot, with that big-race assignment very much on the agenda for the coming months. Sangster added: 'Whether either of them go to the Curragh or not, the primary target at the moment would be the Coronation Stakes at Royal Ascot. That is what we will be working back from, it's just whether they have a run in the meantime.'
