Date
16 December 2017
Female top executives earn 18 percent less than their male counterparts among the Standard & Poor's 500 enterprises. Photo: Bloomberg
Female top executives earn 18 percent less than their male counterparts among the Standard & Poor's 500 enterprises. Photo: Bloomberg

Women hold only a third of top executive positions in Hong Kong

One in three top executives in Hong Kong is a woman, while there are three male executives for every one female executive in Asia-Pacific and globally, the Hong Kong Economic Times reported Monday, citing a report released by international accounting firm Grant Thornton.

More than 40 percent of the enterprises across the globe do not have a female top executive, and women only account for 12 percent of the CEOs, the report said.  Just 14 percent of the enterprises say they plan to recruit more female executives in the coming 12 months, it added.

The International Business Report has polled the CEOs, directors, general managers, chairpersons and other senior executives in about 6,700 enterprises across the world.

In Hong Kong, women account for 33 percent of the top corporate executives. Russia has the highest proportion of female senior executives at 43 percent in Asia-Pacific, while Japan holds the lowest rate at 9 percent, the report said.

Although females outnumber their male counterparts in terms of higher education at 108:100, only 32 percent of the labor force are women globally, it said.

In fact, even when women are promoted to senior-level positions, their average salary is much lower than that of men.

Bloomberg had said that female top executives earn 18 percent less than their male counterparts among the Standard & Poor’s 500 enterprises. Financial Times also reported that men earn 22 percent more than women executives, even though they have the same qualifications at 27 years old.

But Laure Mathieu, managing director of Grant Thornton, said women are actually doing better to attract customers of both genders in industries like product design, marketing and engineering.

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