Female Executives: Champions of the Power Breakfast
The Contrarian
By: Laura Steadman
12.15.1999

The victory of the U.S. women’s soccer team in the 1999 World Cup garnered global attention and landed team member Michelle Akers on the Wheaties "Breakfast of Champions" box. Her struggle with Chronic Fatigue Immune Dysfunction Syndrome (CFIDS), an illness that causes debilitating fatigue and muscle weakness, is highlighted as an inspiration to women everywhere not to let real or imagined hurdles get in the way of their dreams. Yet, there are many more obstacles that women face. A cereal box could feature new president and CEO of Avon, Andrea Jung, and her battle with the debilitating Corporate Glass Ceiling Syndrome (CGCS), the notion that shadowy forces of prejudice prevent women from succeeding. "I’m proud of my heritage and certainly my gender," Jung remarked recently. "I think it is a privilege being a minority woman leading a Fortune 250 company." Jung, a Chinese-American woman, has obviously won her battle with CGCS but many women have not been as successful. Women who experience this disorder blame their position in the corporate hierarchy on gender instead of ability or performance. Many of these same women suffer from a related ailment, Pay Gap Disorder (PGD), the perception that one is being paid less because of gender. Fortunately, we now know a lot more about these ailments than in years past. A 1998 U.S. Department of Labor study found that for women between the ages of 25 and 34 with a bachelor’s degree, the wage gap is practically eliminated in some male-dominated fields. Female engineers earn 99 percent of their male counterparts’ salaries, and the male-dominated world of economics shows no difference in the salaries of men and women. Salaries for women between the ages of 35 and 44 exceed those of men by 109 percent in the fields of architecture and environmental design. Despite these realities, many women still suffer from Comparable Worth Disorder (CWD), a strain of cognitive dissonance that causes women to believe that they are put in entry level positions while their male counterparts are given more prestigious assignments, and paid less for essentially the same work. But according to Women’s Figures, a recent book co-published by the Independent Women’s Forum and the American Enterprise Institute, there are multiple variables that determine an employee’s placement in the corporate hierarchy. A strong dose of high educational attainment, especially in the fields of hard sciences, and continuous years in the work force can completely eliminate this disorder. Meg Whitman, CEO of eBay Inc., and Donna Dubinsky, co-creator of the Palm Pilot and now CEO of Handspring, are women who have avoided CWD by following this prescription. Both earned master’s degrees from Harvard Business School and gained valuable experience before they became leaders of their multi-million-dollar companies. As more women pursue advanced degrees, the more women we will see in top positions. According to a 1999 Pacific Research Institute study, Free Markets, Free Choices, the percentage of women in senior management positions has tripled since 1995 and women’s salaries have more than doubled in the last 50 years. Like Michelle Akers, Andrea Jung, Meg Whitman, Donna Dubinsky, and many others should stand as an inspiration to all women. They may not have made the Wheaties box but they earned their place in the Fortune 500. — Laura Steadman
Research Assistant
|