Tremendous Obstacles of Female Executives

S. Congress, 1993, p. 18). A survey of 200 chief executives during the country's top companies revealed that only 16 percent thought that they would be succeeded by a female CEO during the next decade and only 18 percent thought that a woman would be chosen to run their companies within the following a couple of decades (U.S. Congress, 1993, p. 46).

The glass ceiling is also a fixture from the nation's largest employer, the federal government. Women maintain virtually half of all white-collar work in government, but only one in four federal supervisors are women and only 1 in 10 senior federal executives are women (U.S. Congress, 1993, p. 9). At Congressional hearings on a existence of glass ceilings in federal agencies, testimony revealed an entrenched pattern of discriminatory practices aimed at impairing the advancement of women to senior-level positions:

"Supervisors who ultimately select candidates to fill work typically designate the needs that candidates need to satisfy. In so doing, these supervisors, who are often white males, exercising discretion entrusted them by the agencies that permits them to tailor employment needs to the credentials of buddies and acquaintances" (U.S. Congress, 1991, p. 140).

Although over 70 percent in the 2 million workers utilized in the banking marketplace are women, a recent study of executive employment revealed that they comprise less than One percent of CEOs at America's top 500 banks. Further, only 4 percent of officers at the country's 100 largest commercial banking businesses had been women (U.S. Congress, 1993, p. 18). If women are unable to climb the corporate ladder in a female-dominated marketplace for instance banking, it is not surprising that they encounter difficulties rising through the ranks of male-dominated environments.

Women are even additional scarce inside boardroom than they are inside the executive suite. As of 1995, approximately 40 percent on the Fortune 1000 corporate boards had no women directors; women keep less than 7 percent on the practically 12,000 corporate board seats at major American businesses (Working Woman, 1995, p. 11). Women face discrimination even following landing positions during the boardroom. Positions offered to women are much more possibly to become non-remunerative. Or board seats are bestowed upon "token" candidates for instance wives of wealthy shareholders or business executives. Based on one critic, "These practices have served to produce an atmosphere which remains exclusive and ever insensitive towards needs of the average employment woman" (U.S. Congress, 1993, p. 38). As soon as a token women is chosen in your board, little work is made to increase female representation. While the average corporate board has 13 members, the majority (41 percent) surveyed in 1992 had only a single woman member; only 2 percent of boards had three or far more women members (Fagenson and Jackson, 1994, p. 392). These figures indicate how the influence of women in corporate decisionmaking is negligible.

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