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Preston Fore

<p>Historically, men have dominated the business world. </p><div class="paywall-selector"></div><div class="paywall">



<p>Around <a href="https://fortune.com/2023/06/05/fortune-500-companies-2023-women-10-percent/">90% of <em>Fortune</em> 500 CEOs are men</a>; corporate board members are <a href="https://www.axios.com/2020/03/08/women-corporate-boards" target="_blank" rel="noreferrer noopener">far more likely to be male</a>; and among most business schools, women are generally outnumbered. </p>



<p>But slowly but surely, gender parity is becoming much more of a reality in full-time MBA programs in the U.S. and around the world.</p>



<p>In 2023, women’s MBA enrollment hit a historic rate of 42%, and five programs have achieved gender parity—according to new research from the<em> </em><a href="https://www.fortefoundation.org/site/SPageServer/" target="_blank" rel="noreferrer noopener">Forté Foundation</a>. Among them include the business schools at George Washington (65%), Johns Hopkins (51%), and the University of Pennsylvania (50%). The latter ranks No. 3 on <a href="https://fortune.com/education/business/best-mba-programs/"><em>Fortune</em>’s Best MBA programs in 2023</a>.</p>



<p>Elissa Sangster, CEO of the Forté Foundation, says in the past half decade or so, there has been steady progress toward gender parity in MBA programs. </p>



<p>“There’s a lot of places you could go to get an MBA,” she tells <em>Fortune</em>. “There’s a lot of pathways to the top, but we know that the women who are pursuing business leadership, that the MBA is a significant pathway into those top companies, top jobs that have the top pay, and that’s important to make sure that there’s equitable representation of women in business school.”</p>



<p>Of the about five dozen women leading <em>Fortune</em> 500 companies, about half of them hold an MBA.</p>



<h2 class="wp-block-heading" id="h-gradual-progress">Gradual progress</h2>



<p>For two decades now, the Forté Foundation has worked to increase opportunities for women in business through building a steady pipeline of female leaders as well as debunking misperceptions about business careers as a whole.</p>



<p>The nonprofit, in partnership with more than 50 business schools, have seen substantial increases in enrollment over the years. For example, in 2011, only about 32% of MBA enrollees were female, according to Forté. </p>



<p>A decade ago, progress would fluctuate back and forth, Sangster says. But in the last few years, there has been steady increases in the right direction.</p>



<p>“We’ve really seen over the last five to seven years, a very steady clip towards parity. And so I think we are most impressed that some of that volatility has gone away, and that we are seeing a steady climb toward 50-50,” she says.</p>



<p>But she also recognizes that when actually sitting in a classroom, it may be hard to tell the difference between 40% parity and 46%, for instance.</p>



<p>“We’re getting to the point now, where if you’re at 40 or above, it’s a pretty good feeling in the classroom,” Sangster notes. “And that’s important because you don’t want everyone showing up to business school and then you look around and you say: I’m the only person in the room that looks like me, has my perspective.”</p>



<p>Today, over 34 schools report full-time MBA enrollment for women at 40%. Among them include top schools like <a href="https://fortune.com/education/business/harvard-university/">Harvard Business School</a>, <a href="https://fortune.com/education/business/northwestern-university-kellogg/">Northwestern’s Kellogg School of Management</a>, and <a href="https://fortune.com/education/business/stanford-university/">Stanford’s Graduate School of Business</a>.</p>



<p>Non-U.S. schools made significant gains this year, according to Forte, with an increase of 3% in women’s enrollment. Overall, Oxford’s Saïd Business School enrolled 51% women and the University of Toronto’s Rotman School of Management enrolled 49%.</p>



<h2 class="wp-block-heading" id="h-shifting-priorities">Shifting priorities </h2>



<p>Overall, Sangster says many business schools have worked to change the way they present themselves and be more inviting to women and people of color through deliberate recruitment and student involvement.</p>



<p>Students are the biggest influencers in the pipeline, she adds. By including them in things like admission committees and public-facing events, prospective students can feel more encouraged and feel welcomed. </p>



<p>Having more women in the classroom helps things diversity of thought flourish, Sangster notes. Plus, having a <a href="https://fortune.com/2021/06/02/fortune-500-companies-diversity-inclusion-numbers-refinitiv-measure-up/">diverse and inclusive workforce is an increasing priority</a> for many companies.</p>



<p>It was a common practice 20 years ago for MBA programs to mail out brochures that often featured a white male on the front cover, Sangster says. Now, she adds, schools are diversifying how they are portraying their students and MBA program in their marketing.</p>



<p>Beyond business school, Forté hopes to be able to help women continue to progress their leadership careers in the c-suite, especially in male-dominated fields like finance, technology, and supply chain.</p>



<p>Forté has also led initiatives such as leadership conferences, summits, and an <a href="https://www.fortefoundation.org/site/SPageServer/?pagename=events_bebrave" target="_blank" rel="noreferrer noopener">MBALaunch</a> program to help close the gender gap by increasing awareness among schools, companies, and students. The nonprofit has awarded $400 million in scholarships to about 17,000 women pursuing MBAs.</p>



<p> “I think what’s important for us is clearly to hit parity with business schools, and I don’t think we’re far from that,” Sangster says. “I think that’s totally achievable. Probably in the next five years, we’ll see that number begin to stabilize at 50-50.”</p>
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New research from the Forté Foundation reveals five schools have achieved gender parity, with 34 enrolling at least 40% women

A steady climb toward 50-50’: women’s MBA enrollment hits historic 42%

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A STEADY CLIMB TOWARD 50-50’: WOMEN’S MBA ENROLLMENT HITS HISTORIC 42%

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‘A steady climb toward 50-50’: MBA enrollment hits historic 42% for women

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