Why Women Lag Behind in MBA Degrees
Women MBA Graduates
Man or woman, business school can definitely help you achieve your career dreams and goals, opening doors you may not have even known existed; unfortunately, luring females into MBA programs has been one of the most difficult challenges facing today’s business schools. The percentage of women enrolled in business schools has held steady for a number of years, in the 25%-35% range, yet nearly half of medical school and law school students are women. Even considering that the average salary of a newly-graduated woman with an MBA is $62,000, women still lag behind in MBA programs, yet only 24% of MBA programs offer any type of special outreach to women.
Why Women Don’t Enroll In MBA Programs
Although most female MBA graduates have positive feelings about their business school experience, many women who are considering an MBA have a perception of business schools in general as schools that will be less than welcoming to them considering the largely male population. Additionally, supportive role models and business leaders who are female are severely lacking, meaning there are few great mentors available for women who are considering a business career. Professors in universities are still mostly male, and added to that, many MBA programs are inflexible for women who have children or families to consider. Finally, timing is an issue for many women who are considering an MBA; once schools raised the work experience level to five years or more, women who were considering starting a family in the next few years took a look at the time factor involved in gaining an MBA and moved on to another career choice. Some business schools are taking notice of the timing issue, and are now taking women with only two or three years of experience, and even allowing a select few undergraduates to go straight from college into their MBA program. It is also noted that some women steer clear of MBA degrees due to a lack of confidence in their math skills or a lack of encouragement from current employers.
Why Women Should Enroll in MBA Programs
Earning an MBA degree can open a multitude of doors throughout the business world; it is an extremely versatile degree, and will end up being valuable no matter what career you choose. MBA’s work in a variety of occupations including large and small corporations, non-profit organizations, health care fields, government establishments and many will start their own business. MBA graduates are often times the highest paid employees around, and obtaining your MBA also increases your chances of moving into senior level positions no matter what profession you are in. While men tend to use their MBA to either switch careers or start their own business, women are more likely to use their MBA to simply advance their current career. It would be advantageous for women to think more like the men in this instance, and consider starting their own business, or completely changing their current career—sometimes a shake-up like this can give you the freedom to find a rewarding new path. Brush up on your math skills on the side, and don’t wait for your employer to suggest an MBA, rather take the bull by the horns yourself and put yourself out there—you may be quite pleasantly surprised.
How MBA Programs are Attempting to Attract More Women
A few schools are outpacing the national statistics and managing to attract women to their MBA programs such as Anderson University, who notes that 52 percent of their enrolled students are female, and Butler University who saw an increase from 30 percent to 38 percent in the past few years. These and other colleges are attracting a higher female enrollment in several ways such as the University of Indianapolis’s Saturday-only option which is great for women with young children. Indianapolis also gives female students the option to take a semester off for maternity leave as well, and credits its Women’s MBA Advisory Board for increasing the proportion of women in the MBA program. The board was created from the thought that so few women in the MBA program led to excessive competition.
Schools with MBA programs are also realizing the unfortunate catch-22 of women graduating with no experience, thus being considered unqualified for MBA level jobs. Many banks and consulting firms prefer their job candidates have a minimum of two to three years’ experience, and others require five to six years of experience. While the experience can be a sticking point, it can also be a bit less clear as to just what you should do with a business degree, while professions such as law or medicine have no such ambiguity. More and more schools which offer MBA programs are attempting to provide women with an array of clear-cut career choices available to them once they obtain their MBA degree. Some colleges are finding the best way to do this is through personal, targeted approaches such as snagging women who are in their junior or senior year of college and persuading them to attend events and speak with a counselor. Women are much more interested in a career if they have had personal access to other women who have been there, done that—this type of one-on-one conversation can truly inspire women to aim higher.
Can Schools Be More Accommodating to Women?
Many MBA programs would do well to be more progressive and flexible in their attempts to tempt more women to enroll in their program. Day care centers at the school could greatly ease the burdens of the mothers in the MBA program, and a more flexible curriculum which would allow women with families to switch to part-time for a period of time would also be extremely helpful.
Ultimately, an MBA is only worth as much as you put into it, and women have a tendency to be modest and self-effacing, sitting back and waiting for superiors to notice their particular talents. Leadership positions must be taken, or at the very least, asked for. A show of initiative can go a long way with those in upper-management. Obtaining your MBA can give you an exciting new career as well as the necessary skills and confidence necessary to start your own business. Take a chance and realize the dream that may have been brewing in the back of your mind for a very long time—you won’t be sorry!