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RSI - Executive Search Firm News | Company Newsletter, October 2010

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The RSI Executive Search Firm News Center Area is designed as a resource for Employers and Candidates for the Executive Search Recruiting Industry. The RSI Executive Search Firm News Center contains Company Newsletters, Article Series Career Corner, Management Matters & Indutry Related Articles covering RSI's 18 Verticle Search Markets and RSI Client Case Studies.

 
 
 
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RSI Executive Search Firm Company Newsletter, October 2010

Issue: #31
Date: October 1, 2010


Powerhouse Women PDF Version
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This Month in the RSI Newsletter
» Powerhouse Women

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Powerhouse Women

15 of the Fortune 500 companies are currently led by women CEO’s, and although it is not a high number, it shows that women are making some headway in the corporate world. Is progress taking place for gender equality or is there, rather, a disappointing lack of progress for women in the United States? It is a question that continues to frustrate, especially as 32.7% of women between 25 and 34 had a bachelor's degree or higher from 2006 and 2008, compared with 25.8% of men. Though young women are earning more than their male counterparts, when separated by education, males earn more at every level. Why is this so and how long will it take for the numbers to be representative of the population?

First, let us take a look at some profiles of the highest female earners in the Fortune 500 and see what sets them apart.

Indra Nooyi
Rated by CNN Money as the 2009 Most Powerful Women, Indra Nooyi is the Chairman and CEO of PepsiCo, a Fortune 50 company. Graduating with a Masters degree from Yale School of Management in 1980, Nooyi now earns nearly $15 million in annual salary. From her start with PepsiCo in 2000 to 2006, annual revenues rose 72% and net profit more than doubled.

Beginnings: Born in India, Nooyi launched her career as a Product Manager with Johnson & Johnson and earned an earlier MBA from the Indian Institute of Management Calcutta.

Extracurricular Activities: Nooyi is a member of the Lincoln Center for the Performing Arts and Foundation Board of the World Economic Forum. She is also an Honorary Co-Chair for the World Justice Project.



 

 


Continued...

Safra Catz

The number one highest paid woman in corporate America is Safra Catz, President and CFO of Oracle. She takes in about $42.4 million annually, according to a 2008 survey. Hailing from an investment banking background, Catz got her start with Oracle in 1999, and has had tremendous growth within the company ever since.

Beginnings: Originally from Israel, Catz immigrated to Massachusetts at six years old and later earned her Bachelor’s Degree from Wharton in 1983.

Extracurricular Activities: Catz serves on the board of directors for HSBC Holding plc.

Andrea Jung
CEO of Avon Products since 1999, Andrea Jung now takes home around $19.5 million per year. She came up from the Executive VP position at Neiman Marcus, and since her inception with Avon, she has tripled profits.
Beginnings: Jung was born in Toronto, Canada to a concert pianist/chemical engineer mother and an architect/MIT instructor father. She graduated magna cum laude from Princeton University.
Talents: Jung is fluent in Mandarin and has knowledge in French and Cantonese.

Meg Whitman
The current gubernatorial candidate for the State of California and former eBay CEO, Meg Whitman, has been one of the most successful CEO’s in the world. After getting on board with eBay in 1998, Whitman reigned in nearly $8 billion for the company over a 10-year span.

Career Beginnings: After graduating from Harvard Business School in 1979, Whitman began her career as a Brand Manager at Proctor & Gamble, later moving to Bain & Company, The Walt Disney Company, and Hasbro.

New Path: In 2009, Whitman announced her candidacy for the Governor of California. She represents the Republican Party against Democratic candidate Jerry Brown.

 

 

 


Continued...

Brenda Barnes
The former CEO of Sara Lee, Brenda Barnes made the top 10 list of Fortune’s Most Powerful Women, raking in $10.5 million for 2009. She resigned as CEO in August 2010 for medical reasons, likely due to a stroke she suffered early in the month.

Priorities: Spread across national headlines in 1997, Barnes quit her job as the first female CEO of PepsiCo to spend more time with her family.

Due to the enormous barriers women face in attaining positions of power, a debatable theory is that these Fortune 500 female leaders have more talent than males in similar roles. No matter what the case is, the women who have made it to the top deserve special recognition as they are breaking ground in a male-dominated business world.

Now that women are attending college in greater numbers and attaining more degrees than men, it makes sense that they should be earning just as much. Unfortunately, gender bias is still prevalent in the workforce. When Fortune 500 female CEO’s are compared to the males, a huge disparity in income level is clearly visible. On a more practical level, the U.S. Census shows that of those with a bachelor’s degree, men earn $19,500 more than women at the median. Experts predict that this trend will continue, especially as women are seen as the caretakers of children.

It is interesting to note, however, that in a 2008 study by Catalyst, companies with a greater number of female executives tend to perform better. This just may be a hint for the future.

 

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