Presentation on theme: "Are We There Yet? Womens Economic Status and Participation in Corporate Leadership in New Hampshire Presented July 19, 2007 by Katie Merrow, Executive."— Presentation transcript:
Are We There Yet? Womens Economic Status and Participation in Corporate Leadership in New Hampshire Presented July 19, 2007 by Katie Merrow, Executive Director Two Delta Drive, Concord, NH 03301 491-0959 All our reports are available at www.nhwpi.org
The Economic Status of Working Women in NH Authored by Ross Gittell, UNH Whittemore School of Business, Allison Churilla UNH Department of Sociology and Carsey Insitute, and Ann McAdam Griffin of UNH Whittemore School of Business Based on 2000 Decennial Census, 5% Public Use Microdata Sample 450,804 full-time workers in New Hampshire (weighted estimate). US Census, Small Business Ownership Data, 1997 and 2002. Institute for Womens Policy Researchs Best and Worst State Economies for Women 2006 Recent data updates from the US Census 2005 American Community Survey, by the WPI and by Allison Churilla of UNH Carsey Institute Corporate governance data based on Securities and Exchange Commission filings, Business NH Magazine list of the Public 100, company websites, the InterOrganizational Network (ION) Reports, NH Banking Department, NH Hospitals, and NH Hospital Association. Data Sources
NH and the nation Womens earnings in NH are among the highest in the nation Source: Institute for Women's Policy Research NH 10 th highest in US
NH generally ranks high on policies that support womens economic well-being But ranks among the lowest on women-owned businesses
NH also ranks high on employment and earnings But ranks near the bottom on the wage gap
However, gains in earnings and economic opportunity lag behind advances in workforce participation 58% current college 4-year graduates are women 47% labor force is female 47% managers and professionals are women 40% full-time workers are women 24.7% businesses owned by women 15% of public corporation executives are women 13% of those earning over $100k are women 9% of public corporation directors in NH are women 67% workers at or near the minimum wage in 1999 ($5.15-6.65) are female The working womens pyramid--women are under-represented at the top…
Low income earners are predominantly female, while men dominate high income brackets
This disparity is greater than in other New England states
Key Findings on the Economic Status of Working Women in NH Income disparity between women and men persists, full-time working women earn 71% of mens median earnings. Education is not an equalizer. In contrast, in NH disparity increases with educational attainment Family responsibilities appear to be shouldered primarily by women, and can have a cumulative negative impact on womens earnings. There is a marriage earnings premium for men and not for women in the state. Occupational and industrial segregation persists. Full-time earnings in occupations and industries with predominately female workers are lower
Age: Within the state and on a national level, there is greater earnings parity between women and men in younger age cohorts. Source: PUMS 2000, NH Womens full-time earnings as a percent of mens, by age, NH and US
Source: PUMS 2000, NH Education: Full-time male workers reap greater monetary returns from education at all levels of attainment. Median earnings for men and women with different levels of education
Marital status and family roles have a negative impact on womens earnings Source: Analysis of 2005 American Community Survey data by Allison Churilla of UNH Carsey Institute Womens median full-time income relative to mens in NH, 2004
New Hampshire Corporate Governance Data on publicly held corporations: Company list from Business NH Magazine, Reference USA, and Hoovers, director and officer information from annual reports and proxy statements filed with the Securities and Exchange Commission Hospital data was obtained from the hospitals, the NH Hospital Association, the American Hospital Association Directory, and hospital websites. Data on financial institutions was obtained from the NH Banking Department and institution websites.
Publicly held corporations: Women rarely make it to the top; relatively more opportunity in executive positions than in board leadership. Preliminary Data on Publicly Traded Companies in NH 200320042005ION States* #%#%#% Number of Companies25 29 25 Number of Directors193 229 195 Women Directors179%188%189%7 - 11% Number of Executive Officers140 168 119 Women Executive Officers1813%2012%1815%8 - 11% Women in top 5 Highest-Paid Positions108%118%76% Companies with no women at the top: No Women Directors1248%1655%1352%30 - 53% No Women Executive Officers1248%1552%1248%36 - 79% No Women Directors or Exec. Officers 832%1138%936% No Women in 5 Highest-Paid Positions1768%2069%1676%68 - 79% Companies with 'critical mass' on the board1 1 3 *Includes only ION member states, excludes Chicago and Philadelphia; officer data reflects 2004, board data reflects 2005 activity.
Other states: Women are under- represented at the top, but are more likely to be on boards
Female-Owned Businesses in New Hampshire The state ranks 43rd of the 50 states in the percentage of businesses owned by females. percentage of businesses owned by females went up from 23.6 percent to 24.7 percent between 1997 and 2002, but still below the increase nationally Less than one quarter of businesses in the state are owned by females, compared to 28.3 percent nationally and one-third in top-ranked states such as Maryland NH ranks in the top ten states nationally in terms of receipts for women-owned businesses, and had the greatest growth of receipts of any state in the nation between 1997 and 2002.
What would increase womens economic status? More Supportive Workplace Practices and Policies Enhanced system and culture in New Hampshire for working families, including more flexible work schedules and better support of exit and re-entry for parents Business practices and public policies supportive of family life and children, e.g., childcare, health insurance Education and Career Mentorship and Networking Help college females enter male-dominated well-paying professions by supporting enrollment in non-traditional fields (e.g., science, math and engineering). Improve career ladders and support of females in high-paying fields dominated by men (e.g., physicians, lawyers, engineers)
What would increase womens economic status? Occupation and Industry Initiatives Increase pay in female dominated occupations and industries, including occupations that are of great importance/value and require significant education and commitment (e.g., teaching, nursing) Entrepreneurship and Business Ownership Promote entrepreneurship and business ownership among women with targeted seed capital, business loan and business networking, mentorship and assistance initiatives Governance: Board and Executive Female Representation Add females to the network used by corporations to recruit directors and executives in the state
Looking forward… Upcoming WPI Research: –Corporate governanceopportunities and barriers –Benchmarks to track economic status –Economic security of older women
So…are we there yet? Our reports are available at www.nhwpi.org