Are We There Yet? Women’s Economic Status and Participation in Corporate Leadership in New Hampshire Presented July 19, 2007 by Katie Merrow, Executive Director Two Delta Drive, Concord, NH 03301 491- 0959 All our reports are available at www.nhwpi.org
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Are We There Yet? Womens Economic Status and Participation in Corporate Leadership in New Hampshire Presented July 19, 2007 by Katie Merrow, Executive.
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Are We There Yet?Women’s Economic Status and
Participation in Corporate Leadership in New Hampshire
Presented July 19, 2007by Katie Merrow, Executive Director
Two Delta Drive, Concord, NH 03301 491-0959All our reports are available at www.nhwpi.org
The Economic Status of Working Women in NH Authored by Ross Gittell, UNH Whittemore School of Business,
Allison Churilla UNH Department of Sociology and Carsey Insitute, and Ann McAdam Griffin of UNH Whittemore School of Business
Based on 2000 Decennial Census, 5% Public Use Microdata Sample 450,804 full-time workers in New Hampshire (weighted estimate). US Census, Small Business Ownership Data, 1997 and 2002.
Institute for Women’s Policy Research’s Best and Worst State Economies for Women 2006
Recent data updates from the US Census 2005 American Community Survey, by the WPI and by Allison Churilla of UNH Carsey Institute
Corporate governance data based on Securities and Exchange Commission filings, Business NH Magazine list of the Public 100, company websites, the InterOrganizational Network (ION) Reports, NH Banking Department, NH Hospitals, and NH Hospital Association.
Data Sources
NH and the nation—Women’s earnings in NH are
among the highest in the nation
WA
OR
CA
AK
NV
HI
AZ NM
UT
ID
MT
WY
CO
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
MS AL GA
FL
SC
NCTN
KY
WI
IL
MI
INOH
WV VA
PA
NY
ME
MDDENJ
CTRI
MA
VTNH
DC
TopThird (18) MiddleThird (17) BottomThird (16)
Women’s Median Annual Earnings
Note: Median annual earnings for full-time, year-round workers aged 16 and older, 2003-2005.Source: Institute forWomen’s Policy Research 2006b.Calculated by the Institute forWomen’s Policy Research.
Source: Institute for Women's Policy Research
NH 10th highest in US
NH generally ranks high on policies that support women’s
economic well-being
Economic policy environment benefits women, business ownership lags
NE
NE
NE
US
US
US
US
NH
NH
NH
NH NE
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
With Health Insurance(ranked 15th)
With 4+ Years College(ranked 9th)
Living Above Poverty(ranked 1st)
Women-owned business( ranked 43rd)
32%
86%
25%
93% Data source: Institute for Women's Policy Research
But ranks among the lowest on women-owned businesses
NH also ranks high on employment and earnings
Women's Employment and Earnings, NH, New England, US
ME
ME
VT
VT
VT
MA
MA
RI
71%NH
35%NH
65%NH
ME
MA CT
CT
CT
RI
RI
77%US
59%US
36%US
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
In labor force (ranked 11th) In manager/professional jobs (ranked15th)
Earnings ratio (ranked 45th)
Median earnings: $34,00010th in US and 3rd in NE
Data source: Institute for Women's Policy Research
But ranks near the bottom on the wage gap
However, gains in earnings and economic opportunity lag behind
advances in workforce participation
58%current college 4-year graduates are women
47%labor force is female
47%managers and professionals are women
40%full-time workers are women
24.7%businesses owned by women
15% of public corporation executives are women
13%of those earning over $100k are women
9% of public corporation directors in NH are women
67%workers at or near the minimum wage in 1999 ($5.15-6.65) are female
The working women’s pyramid--women are under-represented at the top…
Low income earners are predominantly female, while men dominate high income brackets
Percent and number of men and women in the workforce by earnings levelFull-time, year-round workers, American Community Survey 2005
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<$15
,000
$15,
000
to $
17,4
99
$17,
500
to $
19,9
99
$20,
000
to $
22,4
99
$22,
500
to $
24,9
99
$25,
000
to $
29,9
99
$30,
000
to $
34,9
99
$35,
000
to $
39,9
99
$40,
000
to $
44,9
99
$45,
000
to $
49,9
99
$50,
000
to $
54,9
99
$55,
000
to $
64,9
99
$65,
000
to $
74,9
99
$75,
000
to $
99,9
99
$100
,000
or m
ore
Per
cen
t o
f m
en o
r w
om
en
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Nu
mb
er o
f m
en o
r w
om
en
Number Male Workers
Number Female WorkersWomen
Men
This disparity is greater than in other New England states
Women's Earnings in New EnglandFull-time workers, 2000 Census Data, 2005 ACS data
NH NH
NH NH
ME ME
MEME
VT
VT
VT
MA
MAMA
CTCT
CT
CT
VTMA
0%
10%
20%
30%
40%
50%
60%
Workers earning <$25,000 in 1999
Workers earning <$25,000 in 2004
Workers earning >$100,000 in 1999
Workers earning >$100,000 in 2004
Per
cen
t o
f w
ork
ers
that
are
fem
ale
Most women don’t earn enough to support a family
Number of workers by annual earnings, compared to the livable wageNH full-time workers 2005, American Community Survey
00,000
10,000
20,000
30,000
40,000
50,000
60,000
<$15
,000
$15,0
00 to
$17
,499
$17,5
00 to
$19
,999
$20,0
00 to
$22
,499
$22,5
00 to
$24
,999
$25,0
00 to
$29
,999
$30,0
00 to
$34
,999
$35,0
00 to
$39
,999
$40,0
00 to
$44
,999
$45,0
00 to
$49
,999
$50,0
00 to
$54
,999
$55,0
00 to
$64
,999
$65,0
00 to
$74
,999
$75,0
00 to
$99
,999
$100
,000
or m
oreN
um
be
r o
f fu
ll-t
ime
wo
rke
rs i
n N
H a
t e
ac
h e
arn
ing
s l
ev
el
Male Workers
Female Workers
Earnings above the livable wage for single parent family or family with one wage earner.
Earnings below the livable wage for a single person
Earnings close to or above the livable wage for a family with two wage earners
Key Findings on the Economic Status of Working Women in NH
Income disparity between women and men persists, full-time working women earn 71% of men’s median earnings.
Education is not an equalizer. In contrast, in NH disparity increases with educational attainment
Family responsibilities appear to be shouldered primarily by women, and can have a cumulative negative impact on women’s earnings.
There is a marriage earnings premium for men and not for women in the state.
Occupational and industrial segregation persists. Full-time earnings in occupations and industries with predominately female workers are lower
Age: Within the state and on a national level, there is greater earnings parity between women and men in younger age cohorts.
Source: PUMS 2000, NH
78.1%
71.4%
66.7% 66.2%
83.3%
72.0%
68.2%
66.0%
50.0%
55.0%
60.0%
65.0%
70.0%
75.0%
80.0%
85.0%
24-34 years
35-44 years
45-54 years
55-64 years
New Hampshire United States
Women’s full-time earnings as a percent of men’s, by age, NH and US
Education: Full-time male workers reap greater monetary returns from education at all levels of attainment.
Median earnings for men and women with different levels of education
Marital status and family roles have a negative impact on
women’s earnings
Source: Analysis of 2005 American Community Survey data by Allison Churilla of UNH Carsey Institute
Women’s median full-time income relative to men’s in NH, 2004
Unmarried
92%
Married
70%
New Hampshire Corporate Governance
Data on publicly held corporations: Company list from Business NH Magazine, Reference USA, and Hoovers, director and officer information from annual reports and proxy statements filed with the Securities and Exchange Commission
Hospital data was obtained from the hospitals, the NH Hospital Association, the American Hospital Association Directory, and hospital websites.
Data on financial institutions was obtained from the NH Banking Department and institution websites.
Publicly held corporations: Women rarely make it to the top; relatively more opportunity in executive positions than in board leadership.
Preliminary Data on Publicly Traded Companies in NH
Women in top 5 Highest-Paid Positions 10 8% 11 8% 7 6%
Companies with no women at the top:
No Women Directors 12 48% 16 55% 13 52% 30 - 53%
No Women Executive Officers 12 48% 15 52% 12 48% 36 - 79%
No Women Directors or Exec. Officers 8 32% 11 38% 9 36%
No Women in 5 Highest-Paid Positions 17 68% 20 69% 16 76% 68 - 79%
Companies with 'critical mass' on the board 1 1 3 *Includes only ION member states, excludes Chicago and Philadelphia; officer data reflects 2004, board data reflects 2005 activity.
Other states: Women are under-represented at the top, but are
more likely to be on boardsLeadership in NH publicly held companies compared to ION states
Percent with women in top leadership
0%
10%
20%
30%
40%
50%
60%
70%
80%
NH CA FL GA MA MI WI
Pe
rce
nt
of
co
mp
an
ies
With Women Directors (2005)
With Women Executive Officers (2004)
With Women among the 5 Highest-Paid (2005)
Source: Data on other states from ION reports for 2006 and 2007; NH data from WPI analysis of in-state sources.
Female-Owned Businesses in New Hampshire
The state ranks 43rd of the 50 states in the percentage of businesses owned by females. percentage of businesses owned by females went up from 23.6 percent
to 24.7 percent between 1997 and 2002, but still below the increase nationally
Less than one quarter of businesses in the state are owned by females, compared to 28.3 percent nationally and one-third in top-ranked states such as Maryland
NH ranks in the top ten states nationally in terms of receipts for women-owned businesses, and had the greatest growth of receipts of any state in the nation between 1997 and 2002.
What would increase women’s economic status?
More Supportive Workplace Practices and Policies Enhanced system and culture in New Hampshire for working families,
including more flexible work schedules and better support of “exit” and “re-entry” for parents
Business practices and public policies supportive of family life and children, e.g., childcare, health insurance
Education and Career Mentorship and Networking Help college females enter male-dominated well-paying professions by
supporting enrollment in “non-traditional” fields (e.g., science, math and engineering).
Improve career “ladders” and support of females in high-paying fields dominated by men (e.g., physicians, lawyers, engineers)
What would increase women’s economic status?
Occupation and Industry Initiatives Increase pay in female dominated occupations and industries, including
occupations that are of great importance/value and require significant education and commitment (e.g., teaching, nursing)
Entrepreneurship and Business Ownership Promote entrepreneurship and business ownership among women with
targeted seed capital, business loan and business networking, mentorship and assistance initiatives
Governance: Board and Executive Female Representation Add females to the network used by corporations to recruit directors and
executives in the state
Looking forward…
Upcoming WPI Research:– Corporate governance—opportunities and
barriers – Benchmarks to track economic status– Economic security of older women