My second son has resigned from his job to pursue an MBA, just as I did more than three decades ago. Back then, I arrived at my class to find that I was in the minority; sadly, it seems he will too. The representation of women in MBA programmes has been an area of focus and improvement in recent years as efforts have been made by many, ourselves included, to increase gender diversity and create a more inclusive environment. Yet progress has been slow.
My MBA transformed my career trajectory, and all the data suggests that the qualification continues to do so for those who choose to do one. Increasing earning potential is one of the primary reasons many people pursue an MBA, and according to the Forté Foundation, a nonprofit aimed at increasing opportunities for women in business leadership, it can deliver this. In their most recent report, they surveyed 1,476 MBA alumni and found that salaries had almost all increased after graduation, but notably for men more than women.
Looking at the USA, which could be said to be the birthplace of the MBA, we have come a long way since Katharine Graham became the first female CEO of the Fortune 500 company, the Washington Post, in 1972. Since then, the number has been rising, if rather slowly, to reach 37 in 2020 and an all-time high of 53 in 2023.
However, 90 percent of Fortune 500 CEOs are men; corporate board members are far more likely to be male; in the S&P 1500 companies, women account for 40 percent of employees but hold only 6 percent of CEO positions. The pipeline doesn’t look as though it is going to change things – among most business schools, women remain, as I have said, generally outnumbered.
Why is this? One argument is that women choose career paths that do not necessarily require an MBA. They may also prioritise work-life balance and choose career paths that allow for flexibility and family considerations.
The demanding nature of such programmes and subsequent career paths may be perceived as incompatible with their desired work-life balance, and a lack of female role models or mentors in business leadership positions might contribute to a perception that women are not well-represented or welcomed in the business world, dissuading some from pursuing an MBA.
Finally, the cost of an MBA programme can be significant, and some women may opt not to pursue an MBA due to financial constraints. This is especially true if they perceive that the return on investment may not align with their career goals or if they are concerned about accumulating student debt.
What can universities do to support women who want to pursue an MBA? By far the most useful devise we have used is to enable asynchronous learning. This allows women to pursue the degree at their own pace while also being able to revisit lessons as needed to improve comprehension and retention.
Asynchronous learning also helps students in working around their own schedules and priorities. On-campus MBAs can also implement family-friendly policies, such as on-campus childcare facilities or resources for family support, to help women manage their academic and personal responsibilities.
Offering scholarships, grants, or financial aid specifically for women to help alleviate the financial burden of pursuing an MBA, can help, and proactively providing information on available funding sources and financial planning resources. We, for example, have developed a scholarship for women what provides 50 percent off the fees, in partnership with the 30 percent Club GCC, which we have awarded every year since 2018.
Providing role models is essential – establish mentorship programmes connecting female MBA students with successful alumnae or industry professionals. Finally, an inclusive curriculum is also key in developing a well-rounded syllabus. Ensure the MBA curriculum is inclusive, featuring case studies and examples highlighting successful women in various industries. It is no good expecting women to want to progress if you only teach about the successes of men.
If we want more women in positions of leadership in business, then we need more women to do MBAs. Not only do they provide essential skills (as a business leader, you need to be able to understand everything you are responsible for, from human resources to marketing, the supply chain and finance) but they also provide key connections that are transformational in women’s careers.
Gender disparity: MBA in Dubai
Our own MBA in Dubai has turned out generations of leaders over the last few decades, but only 30 percent of the current class are female. We are proud that we deliver our MBA into a refugee camp in the Lebanon, part of our commitment to being pioneering in education, but even that cohort is still majority male.
As long ago as 2012, I wrote a piece in the Financial Times suggesting that women should pursue an MBA to help them get into the boardroom. I stand by that advice today. We will open applications for the 2024 Edinburgh Business School – Shaping ‘Women Entrepreneurs’ Scholarship”, in collaboration with the 30 percent Club GCC later this year – I look forward to many more women applying.
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