Women Becoming More Successful Than Men

Women Becoming More Successful Than Men

 

Women are passing men in their abilities to get a degree, handle families and garner success at work.  As men are falling behind, women are making huge strides.  CNN reported that, “For the first time in history, women are better educated, more ambitious and arguably more successful than men.”

Over half of college degrees are now being awarded to women. “In 1970, men earned 60% of all college degrees. In 1980, the figure fell to 50%, by 2006 it was 43%. Women now surpass men in college degrees by almost three to two. Women’s earnings grew 44% in real dollars from 1970 to 2007, compared with 6% growth for men.”

Women are becoming stronger entrepreneurs as well.  Forbes recently reported:  “As of 2011, it is estimated that there are over 8.1 million women-owned businesses in the United States. Overall, women-owned firms have done better than their male counterparts over the past 14 years. The number of men-owned firms (which represent 51% of all U.S. firms) grew by only 25% between 1997 and 2011—half the rate of women-owned firms.”

A study by Barclays Wealth and Ledbury Research may have some of the answers to why women are surpassing men.  One of the reasons they found is that women are less likely to take unnecessary risks or make rash decisions.  The Huffington Post backed up this point stating, “A 2005 study by Merrill Lynch found that 35% of women held an investment too long, compared with 47% of men. More recently, in 2009, a study by the mutual fund company Vanguard involving 2.7 million personal investors concluded that during the recent financial crisis, men were more likely than women to sell shares of stocks at all-time lows, leading to bigger losses among male traders.”

Women Dominating Sales Positions

 

Women are becoming a dominant force in sales positions.  In the article 10 Most Lucrative Industries for Women it was noted, “A recent study found that women are coming to dominate certain areas of sales, a traditionally lucrative field for those who excel. In fact, the study seemed to show that women tend to have better selling skills than men, translating into substantial earnings for saleswomen.”

When women were asked what their top 10 more desired sales careers would be, they chose:

1.    Pharmaceutical Sales

2.    Biotech Sales

3.    Dental Sales

4.    Insurance Sales

5.    Healthcare Sales

6.    IT Sales

7.    Medical Sales

8.    Advertising Sales

9.    Medical Equipment Sales

10.  Real Estate Sales

This is good news for women in the current questionable economy. Monster reported, “In 2010, more employers were willing to invest in their sales forces, having some faith that customers could be cajoled into buying. In October 2010 there were 145,000 more workers employed in sales and related occupations than a year earlier.”

For additional resources about women and sales positions, check out some of the following links:

Women Turning to Cosmetic Sales

Community of Women in Professional Sales

50 Best Careers of 2011

Sales Jobs for Women Search Site

Related Articles

Female Career Choices That May Surprise You

On the first day of work as a pharmaceutical representative in the 80’s, I was struck by the similarity of my newly-hired peers.  There were about 10 of us that started at the same time.  Nine out of 10 of us were women.  I hadn’t given much thought as to whether women dominated in the pharmaceutical business at that time.  However, sitting at that long table full of women, most of whom had business degrees, made me realize that things were changing for women and their career choices.

Since I currently teach for many different online universities, a recent article about women and their online degree choices caught my eye.  In the article 10 Majors That Are No longer Male-Dominated, the author pointed out, “Historically, women have dominated majors like education, English and psychology, while men were more likely to study engineering, computer science or math. Although this may ring true at some schools, it isn’t the standard at every traditional or online college. More than ever, college women are opting to study traditionally male-dominated majors and are breaking enrollment records while they’re at it. As the line between male- and female-dominated academic fields continues to fade, there will be less segregation in the job market and more opportunities for both sexes.”

The article lists the following online majors as currently female-dominant:

Computer Science

Business

Engineering

Agriculture

Biological Science

Construction Management

Fire Science

Criminal Justice

Information Technology

Sports Management

For more information about the increase in women majoring in each of these areas, click here to read the full article.

Are Women Making Teams Smarter?

Harvard Business Review recently published an article about how having women on a team makes the team smarter.  Although they didn’t find a correlation between the collective intelligence of the group and the IQ of individuals within that group, they did find that if women were in the group, the collective intelligence was higher. 

The Female Factor:  The chart plots the collective intelligence scores of the 192 teams in the study against the percentage of women those teams contained. The red bars indicate the range of scores in the group of teams at each level, and the blue circles, the average. Teams with more women tended to fall above the average; teams with more men tended to fall below it.

Professors Anita Wooley (Carnegie Mellon) and Thomas Malone (MIT) gave “subjects aged 18 to 60 standard intelligence tests and assigned them randomly to teams. Each team was asked to complete several tasks—including brainstorming, decision making, and visual puzzles—and to solve one complex problem. Teams were given intelligence scores based on their performance. Though the teams that had members with higher IQs didn’t earn much higher scores, those that had more women did.”

Finding the right mix of people on a team has been a consideration many organizations have dealt with in the past.  These researchers hope to see how this information can help teams perform better in the future through changing members or incentives. 

In the past, I taught teams how to get along better through the use of the Myers Briggs MBTI personality assessment instrument.  Through understanding personalities, team members could learn about each other’s preferences for how they like to obtain information. This became more useful to the team as a whole.  In my training experience, I found that even if a team had members with high IQ’s, they needed to understand why other members of the teams did the things they did and required the information they required in the format that fit their needs.  It was important to understand the collective needs of the team in order for the team to be successful. 

With the study by Wooley and Malone, they bring up the use of their findings in understanding collective intelligence.  According to Malone, “Families, companies, and cities all have collective intelligence. But as face-to-face groups get bigger, they’re less able to take advantage of their members. That suggests size could diminish group intelligence. But we suspect that technology may allow a group to get smarter as it goes from 10 people to 50 to 500 or even 5,000. Google’s harvesting of knowledge, Wikipedia’s high-quality product with almost no centralized control—these are just the beginning. What we’re starting to ask is, How can you increase the collective intelligence of companies, or countries, or the whole world?”

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Living Fully after 40 is a talk show created to build a community of women to address the spiritual, emotional and psychological dimensions of midlife transition for women. Living Fully after 40 provides an opportunity for women in midlife to embrace challenge and examine their lives, careers and relationships in a supportive community. Living Fully after 40 features conversations with experts who empower women in crafting a future overflowing with tremendous possibilities – and making midlife the richest, most insightful and rewarding years of all.

Few Women in Management

Women made little progress in climbing into management positions in this country even in the boom years before the financial crisis, according to a report to be released on Tuesday by the Government Accountability Office.

As of 2007, the latest year for which comprehensive data on managers was available, women accounted for about 40 percent of managers in the United States work force.

In 2000, women held 39 percent of management positions. Outside of management, women held 49 percent of the jobs in both years.

Across the work force, the gap between what men and women earn has shrunk over the last few decades. Full-time women workers closed the gap to 80.2 cents for every dollar earned by men in 2009, up from just 62.3 cents in 1979.

Much of this persistent wage gap, however, can be explained by what kinds of jobs the sexes are drawn to, whether by choice or opportunity.

The new report, commissioned by the Joint Economic Council of Congress, tries to make a better comparison by looking at men versus women in a specific industry and in similar jobs, and also controlling for differences like education levels and age.

For the full story see:  The New York Times