Study Results Show Women Hold Almost 60 Percent of Most Prominent C-Suite Positions
INVER GROVE HEIGHTS, Minn., Dec. 17, 2024 /PRNewswire-PRWeb/ -- The percentage of women in executive roles at the nation's 50 largest banks increased less than one percent from 28.97 percent in the 2023 study to 29.47 percent in the current study, according to the latest Women at the Top® (WATT®) Study.
The study also reveals that almost 60 percent of those female executives hold C-level positions at the very top of their organizations, down slightly from 60 percent last year. The number of C-level female executives increased by 7 to a total of 133. While a smaller increase from last year, this represents continued progress for women as compared with their male counterparts.
In 2014, women held only 113 of the 670 total senior management positions compared to 224 of the 760 total senior management positions in the 2024 study. That represents an increase of almost 13%. Since 2014, the number of senior management positions held by women has seen a steady increase. The study from 2024 reflects an increase of over 29 percent. Prior to 2014, there were several years of stagnated results where women comprised only 16 to 17 percent of the total senior management positions.
"There was a significant increase of 35 senior management positions in the top 50 banks since the 2023 study. This is a positive trend overall for women in management positions," said Regina Barr, founder and CEO of Red Ladder, Inc., and the Women at the Top®(WATT®) Network.
There have been 4 new positions added to the C-suite as well as movement up and down in positions reported on in the past. There are no women in Chief Executive Officer (Bank) positions based on this year's report, but division CEOs did increase from six to seven this year. Here's a look at several key positions in the new WATT® Study.
- Chief Executive Officer (Bank) 0 – decrease
- Chief Executive Officer (Bank Division) 7 - increase
- Chief Financial Officer 4 – decrease
- Chief Credit Officer 4 – increase
- Chief Audit Officer 17 - increase
- Chief Risk Officers (CRO) 14 – increase
The number of the top 50 banks with zero women in management has fluctuated between two and three over those last few years. In 2024 this number was once again zero.
Barr stated, "There are some trends in the workforce that will continue to need monitoring. While many women left the workforce during the pandemic, they began returning to the workforce in higher numbers. However, they continue to look for more flexible, hybrid work opportunities. The current back to the office movement may be having an impact on women in senior management positions."
Barr added, "We need to keep our eye on ways to help women thrive in the workforce by using technology and remote work opportunities to their career advantage. We also need to ensure that taking time out of the workforce for maternity or other family care giving matters doesn't derail women. In addition, we need to continue to focus on health and wellbeing in the workplace. Burnout for women has reached alarmingly high levels according to a study by Deloitte."
About the Women at the Top® (WATT®) Study: Students at Weber State University in Ogden, Utah, led by instructor Terrilyn Morgan, conducted the 2024 WATT® Study. Students identified and ranked by asset size the nation's 50 largest commercial banks, using Federal Deposit Insurance Corp. data as of December 31, 2023, and then used publicly available information such as annual reports to determine the number of women in leadership positions. The WATT® Study, conducted regularly since 1999, is sponsored and managed by the Women at the Top®.
About the Women at the Top® (WATT®) Network: The Women at the Top® Network is a nationwide community of aspiring and high-achieving women who share the desire to develop and nurture their own leadership skills and those of other women. Regina Barr and Women at the Top® (WATT®) has provided a space for professional women to invest in their social capital through a variety of programs for more than 15 years. For more information, visit WATTNetwork.com or call 612-405-2144.
© 2024. Women at the Top and WATT are registered trademarks of Red Ladder, Inc. All rights reserved.
Media Contact
Chris Gosswiller, Red Ladder, Inc., 1 +1-763-807-4632, [email protected], www.reginabarr.com
SOURCE Red Ladder, Inc.
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