Women in MBA 2014

Women in MBA

2014 • MBAs propelling more women into the boardroom • ‘Nice girls don’t negotiate’ and other gender myths • Finding the time to study while striking a balance

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CONTENTS Graduates

4 8 12 14

Three MBA women united by sense of achievement Andrea Zavadszky Leadership, professionalism – two vital talents Vickie Chan What’s the use of having three MBAs? Working woman Christine Brendle shares her story Vickie Chan

From the big screen to the small(er) screen Jennifer Cheng

Feature

18 20

MBA programmes move to get more women into the boardroom Pim Savetmalanond Female CEOs in China: Future looks brighter Paul McGuiness

Opinion

24 27 28

“Nice girls don’t negotiate” and other gender myths Horacio Falcão What MBA women are doing with their degrees Jeannie Mark Is an MBA worth it for women?

Cayleigh-May Forbes

Admissions

30

Female MBA students … get out of your own way!

Heather McKenzie

Women in MBA 2014 is published by Education Post, South China Morning Post Publishers Ltd. All rights reserved.

ISBN: 978-962-8148-27-1

4

Graduates

Three

MBA women united by sense of achievement Andrea Zavadszky The idiom “don’t bite off more than you can chew” is often used as a

caution, but Christy Fung threw caution to the wind when she decided to do an MBA soon after her first baby was born and when she was already pregnant with her second child.

“My motto is ‘bite off as much as you can’,” she says

While admitting that her studies are “a lot of work”,

with a laugh, noting she is now half-way through

they are also very interesting, and that inspires and

an MBA programme with the Australian Graduate

keeps her going.

School of Management. “[Working for] the MBA is a big motivation. You feel The mother of two has a full-time job with online

more energetic; it gives you a good push,” she says.

travel company Expedia as market manager for Vietnam, Cambodia, and emerging markets. The job

Shagufta Barker also found that doing her MBA with

requires regular travel, but she also finds time to run

Bradford University was an invigorating experi-

her own niche internet business, set up more than

ence. She took five years to finish the course, taken

two years ago, which sells dancing shoes. Simply

through long-distance learning provider RDI Man-

put, how does she manage it all?

agement Learning. During that time she not only held down a full-time job as a member of Cathay

“The most important thing is to have a supportive

Pacific’s cabin crew, she also got married, had two

family. This is the number one success factor,” she

children, and breast-fed both of them. Since her of-

says, adding that her employer is also supportive by

fice is close to home, she still spends lunchtime with

allowing her to leave the office and get to classes

her children every day.

whenever necessary.

Photo: iStockphoto

5

Women in MBA 2014

6

Graduates

Shagufta Barker

Barker says she loved her cabin crew job, but want-

applied for the 12-month course, but later decided

ed to settle down and have a family. Today, she is

to switch to the 16-month option.

an in-flight standard quality control manager with Cathay Pacific even though, before her MBA, she

“The MBA is not only about what you learn, it is

had never worked in an office setting. Classmates

much more – especially if you do it in a different

helped her to understand some of the practicalities

country,” Stampfli says. “Before starting, I was look-

of what the course covered.

ing at the MBA as an educational experience to be completed as fast as possible. I now see it as a

“You learn from practical examples and discuss with

360-degree life experience.”

people how they apply [the knowledge] in their work,” she says. “I would have to imagine all that.”

This sense of enthusiasm no doubt helped all three students cope with the workload when dealing with

What kept her going was the immense transforma-

mounting pressures and time management issues.

tion she went through, on a personal level and by

Besides having the help of her “fantastic family”,

gaining new skills and insights.

Barker found it useful to set clear boundaries and have a predictable schedule which the family could

“The MBA changes you as a person. You become

count on. At the same time, she kept things flexible

objective, analytical. You start applying at every lev-

enough to adjust when essential.

el what you have learned. We changed; [it wasn’t just about] getting a degree,” Barker says.

Katia Stampfli also noticed a change in mindset during her studies, and appreciated the chance to extend her network, participate in challenging activities, and come up with new business ideas.

An Italian native who came all the way from Switzerland to do her MBA at the Hong Kong University of Science and Technology, she originally

Christie Fung with her family

7

Barker also made sure to have some special one-on-

What still stands out for Fung is the birth of her

one time with her children every day – daughter in

second baby during a one-week intensive course.

the morning and son in the evening – so that they

She had signed up, knowing the expected delivery

felt valued.

date was some time later, but didn’t feel well one day and, with the baby on the way, definitely had

For each student, it was also important in terms of

to leave early.

both time management and enjoyment, that doing an MBA was their own choice.

In view of the exceptional circumstance, the school allowed her to retake the course.

“It was a conscious decision selecting that path. You already knew it was difficult, but were prepared for

Fung says that support from family, friends and col-

it,” Barker says.

leagues can make all the difference.

A common theme is that the interactive style of

“Talk about the challenges and the expectations.

classroom teaching made a big impact and that

Challenges can easily turn into arguments.”

some of the best memories relate to time spent with classmates discussing cases, learning together, or

Barker adds that it is nice to be a perfectionist, but it

simply having fun.

is better to take time constraints into account and learn to manage expectations, including one’s own.

Stampfli’s fondest memory is a boat tour around Phuket, taken with 20 of her classmates, representing 10 different nationalities.

“Three boats can be really challenging, but for us it was just amazing,” she says. “Without even realising it, during the MBA we learnt to be a real team, to understand different cultures, and to be flexible and efficient at the same time.”

Katia Stampfli (second from left) Women in MBA 2014

8

Graduates

Leadership,

professionalism – two vital talents Vickie Chan A

change

management

expert

must carefully plan and execute each move towards a de-

sired outcome. Mastering the

role, with its constant challenges and unexpected obstacles, is no easy task, but it is something Louise Ho was

Louise Ho Vice president, private banking division, a global financial services company A graduate of Manchester Business School MBA

able to take in her stride.

What helped, no doubt, was a degree in industrial

A well organised executive, Ho knows her own

engineering from the University of Toronto, which

mind, and communicates her views clearly, which

Ho completed before moving back to Hong Kong

meant that project management was always likely

and joining the HSBC management training pro-

to be a good match.

gramme. The subsequent 12 years, rising through the ranks to oversee projects for the change man-

Working in a department with regional responsibil-

agement team, provided a wealth of experience and

ities enabled Ho to travel around Asia and meet a

convinced Ho that she had made the right choice

number of the bank’s most senior executives, pre-

of career.

senting proposals, and learning what it took to effect change.

From the ground up “HSBC has a lot of business lines, so I was able to try

“In places like South Korea, they thought I was an

different jobs within the company,” she says. “There

odd fit in the team because I’m a woman,” she says.

was a good training scheme and room to grow, and

“But I didn’t consider that a factor and just focused

we were encouraged to consider our careers from

on proving myself. They quickly saw I was capable

early on.”

of doing the job.”

9

would be a logical next step. Having worked for just one organisation, she wanted a better understanding of the “outside world” and how other businesses actually worked. She also wanted to develop her creative thinking, so enrolled with the Manchester Business School MBA programme.

MBA for creativity “Being in areas like engineering and change management, I have to be very creative,” Ho says. “I wanted to find new approaches and knew that only working at HSBC might limit that.” She also knew the MBA would introduce her to people from many

“

I wanted to find new approaches and knew that only working at HSBC might limit that.

“

After about six years, Ho decided that an MBA

other industries, giving the chance to learn about different corporate cultures and management styles.

“In fact, I learned how to tackle strategy, business culture and much else,” she says. “The programme shed new light on things I’d already been through and helped me see why people don’t always agree with my ideas. As an MBA student, you soon realise there is a lot more to learn. For me, a key thing was seeing how to be more efficient.”

When it comes to project and change management, Ho believes that thinking ahead and being organised are the most important factors. “I have to present my ideas well, so I need to be subjective in looking for improvements and must think outside the box,” she says. “The MBA really helped my creativity and gave me a much better understanding of other industries.”

Work and health in balance Now vice -- president of the private banking divsion at another global financial services firm, Ho has already achieved most of her initial career goals, something she attributes to being a positive person who doesn’t panic easily and who knows how to use her strengths. Yet one of her biggest lessons in life came quite unexpectedly. “I had some health issues with my heart, combined with a lot of pressure Women in MBA 2014

10

Graduates

at work,” she says. “I had been used to overcoming obstacles, but this was different.

CAREER PATH Vice president,

“To help myself, I realised I had to stop and look at

Private banking division

what to do next,” she says. “I had never really taken

A global financial services

a break, so I asked for a sabbatical. I was lucky to

company

take a few months to relax, recoup and be with my family. I realised my health was really important.”

The sabbatical also helped her to see just how little

Senior lead business analyst, Securities services business HSBC

she could actually control. “Before that, I had al-

Senior business project

ways initiated moves within the company and to do

Manager,

my MBA – it was my choice,” she says. “Now, I had

Global banking and markets

to think about how to reduce pressure – not take

HSBC

on more. I had to tone things down, be a bit less aggressive in going after what I wanted, and strike

Project manager

a better work-life balance. Happiness is the most

HSBC

important thing. Work is work, not 100 per cent of who I am.”

Assistant manager, Business review

In general, Ho says the most important thing is to

HSBC

believe in yourself. It is also essential not to shy away from new things, otherwise you are limiting your opportunities for possible success. “There is never any reason to regret your decisions. If something doesn’t work, just move on to the next.”

Management trainee HSBC

Other Qualifications Project management professional; Six Sigma Black Belt

11

(Advertorial)

Unleash the female factor to let business boom Besides relevant aspects of suitability and competence, she notes that any debate or discussion must acknowledge the importance of fairness, equal opportunity for all, and the value of diversity.

“Obviously, I am cited as a role model and, in seeking to contribute to the wider debate I have tried to focus very much on the positives,” says RothProfessor Dame Rothwell

well, who studied physiology and is still involved in stroke and brain injury research. “Indeed, I point

As president and vice-chancellor of the University of

to the advantages of being a woman in what is of-

Manchester, and an influential voice on many emi-

ten considered a ‘male’ world – for example, people

nent scientific committees, Professor Dame Nancy

tend to remember you. Also, I haven’t focused on

Rothwell is seen as a role model and pioneer.

one reason why women leaders are such a minority because I think there are complex issues – some of

But academic and research achievements are just

which apply to men too - such as confidence, push-

one string to her bow. She is also a non-executive

ing themselves forward, and family commitments.”

director of pharmaceutical giant AstraZeneca, cochair of the British prime minister’s Council for Sci-

She does recommend that more can be done to

ence and Technology, and a member of the Greater

ensure women have opportunities and encourage-

Manchester Local Enterprise Partnership.

ment to rise through successive levels of leadership in business, academia, and other endeavours. She

Rothwell is ideally placed – and better qualified

feels there has to be a concerted effort to reduce the

than most – to speak on issues involving women

drop out rate and make sure organisations accept a

in leadership, especially where real advances have

responsibility to be more aware and insightful.

been seen and where changes can still be made.

“We need to better understand why fewer women “I suppose this has become such a hot topic be-

get to top positions,” says Rothwell. “We must get

cause overall, there are still so few women leaders,

everyone to recognise those issues and give people

though that is gradually changing,” says Rothwell,

of ability, irrespective of gender or any other factor,

who in February last year was ranked the 15th most

the confidence and means to achieve their poten-

powerful woman in Britain by BBC Radio 4’s Wom-

tial.”

an’s Hour show. “For four years I have been the only female vice-chancellor on the Russell Group of 24

Rothwell’s path in academia began with a first-

British universities, though that number is about to

class degree in physiology, then a PhD and a DSc

treble, as I will soon be joined by two more. Dare

from the University of London. Her early research

I say that there is increasing recognition that wom-

involved identifying energy balance regulation and

en can make excellent leaders, so we need more of

obesity mechanisms. She moved to Manchester in

them?”

1987 and was awarded a chair in physiology in 1994.

Women in MBA 2014

12

Graduates

What’s

the use of having three MBAs? Working woman Christine Brendle shares her story Vickie Chan Does an MBA require context

to count? Christine Brendle, director of KIDS DAILIES, a publication

for

children,

found that it does.

Christine Brendle did her first MBA straight after

Well-spoken and intelligent, Brendle is also kind

she graduated from university and was recruited

and approachable. “It always comes back to peo-

on campus by Hachette Publishing to launch Elle

ple ­– learning what drives team performance and

magazine in countries such as Spain and Italy. Four

measurable, performance-based goals – great sales

years later a company acquisition took Brendle to

results don’t matter if you’re horrid to work with,”

New York to launch Elle Decor.

she advises. “Ask a team what makes a good boss and they will say it’s about being understanding and

“I felt liberated in that it was less male dominated.

supportive, not strategy,” she says. She also has some

But as the French person who stayed behind, peo-

HR advice: “for a team to succeed, every member

ple didn’t recognise my MBA,” she says. A practical

has to give something only they can, wanting to be

thinker, Brendle did an MBA at Columbia Universi-

there and do their best. You can’t buy that.”

ty. “I was at the top of my industry in the best city, I needed a measurement that Americans could un-

Now mid-way through her third MBA programme at

derstand and accept,” she explains.

Harvard Business School, Brendle says: “I feel energised with new ideas. I was interested in technology,

There, she found support. “It was my first economic

because it was disrupting my own industry – when

downturn and work was a challenge – the peers and

I joined the Wall Street Journal they were the only

tutors who had experience became my sounding

publication that had a clear digital model. I’m fasci-

board, from regulating the editorial team to main-

nated by business and I like to ask questions.”

taining or growing market share,” she says.

13

Studying for just a few months a year, Brendle will

Challenges do present themselves with running

take nine years to complete the programme. “It

your own, smaller operation, however. “The biggest

gives me time to think, to see how learning devel-

frustration is a lack of means. I have to pick one op-

ops. I want to observe how businesses are adapting

tion, but in a larger company, you can try a few,” for

– technology changes things so profoundly that it

Brendle, it’s worth the advantages. “I can do what

will change how teams work,” she observes.

I believe in, which gives me speed. Lack of means can slow you down, but I don’t wait on budget cy-

Despite her background with Elle and WSJ, Brendle

cles or bureaucracy.”

now runs KIDS DAILIES, saying it was her MBAs that gave her the confidence to know what she wanted.

She also knows that smaller budgets are no concern

“Large companies are dysfunctional – I’ve seen cor-

– in an MBA you look at trajectories, from 200 to

porate cultures change badly, and that being in a

2000, to 200,000 and so on. “There are some must-

large company you lose touch with the nitty-gritty

have and some great-to-have attributes that aid suc-

because someone else is doing it for you. I want-

cess, like strategy, good execution, culture – which

ed something that I could protect, that was mine to

affect performance – and structure. You have to fix

drive,” she says.

the must-haves first,” she advises.

Brendle now handles strategy, analysis and mostly,

Brendle advises choosing an MBA programme that

operations. “I enjoy the challenge; navigating from

offers diversity, providing an insight you wouldn’t

one thing to another is a good skill,” she notes. Her

otherwise have. “It’s energising, despite being hard

MBA is continuing to change the culture at KIDS

to manage alongside work. Juggle both because you

DAILIES. “We’re not perfect, but I have a strong

capture so much – it takes time for your ideas to set-

sense of what needs to change. Even how I look at

tle and grow.” Despite such advice, Brendle swears

raising capital is informed by my MBA. I’m always

she will never do a fourth MBA.

influenced when I’m studying,” she admits.

Women in MBA 2014

14

Graduates

From

the big screen to the small(er) screen Jennifer Cheng As the current founder and chief

executive

of

Glam-

it! I’m a serial entrepreneur who has helped create and

build

companies

such

as Groupon Hong Kong, BEE-

CRAZY, and Glamabox in the group buying, social media and e-commerce space.

My first entry deals with the biggest career jump of

tioning or shooting television, print, and film work.

all, the question I’m asked the most, which is how

I’d also teach piano on the weekends, as I did in

I made the jump about five years ago, from work-

college, to supplement my income. The perfection-

ing as a model and an actress in the entertainment

ist in me led me to attempt to conduct as seamless

industry in the US to doing my MBA in Hong Kong

a “professional” career as possible, so that my CV

and becoming a business woman/entrepreneur out

would read impeccably, while I maintained my act-

here. It’s kind of a long story, but one which I’ll con-

ing career under my stage name. Once, someone

dense to the (hopefully) most interesting bits.

from work noticed me on a billboard for a consumer electronic advertisement in Times Square, and at

I spent my first few years in New York City, after do-

that point I shrugged and pretended to be surprised

ing my B.A. in International Relations and Theatre

to see my doppelganger.

from Brown University. I supported myself with day jobs including stints in the legal and finance profes-

My credits during this period included Saturday

sions, such as working at a hedge fund, while audi-

Night Live, Conan O’Brien, MTV, several independ-

15

ent films, and modeling commercials for Motorola’s

Cantonese. (Now I’m verbally more or less fluent,

Razr phone and Mudd Jeans. During that period, I

but five years ago that was a different story). While

felt quite torn between reconciling my artistic and

doing the MBA programme, I was immersed in a

business sides. As an artist, I loved to create, but

strange and foreign world of accounting, marketing

how could I ensure that my “art” was consumed,

strategy, macroeconomics, statistics, IT manage-

and more to the point, while I was doing well com-

ment, and inundated with case studies. It was partly

pared to a lot of struggling artists, I knew there’d

to escape, and partly to make Hong Kong my home,

come a day when the looks and youth requisite for

that I ended up working three part-time jobs while

a female in the industry would fade.

doing my MBA, and making every excuse possible to get off campus and meet other people who were

It was obvious I needed to develop my Plan B. The

not MBA students, however tempting it was to stay

straw that broke the proverbial camel’s back came

in our co-created cozy bubble.

when after six callbacks and screen tests for the role of “Sayuri” in “Memoirs of a Geisha” the role went

While I was written off as antisocial by some (al-

to Zhang Ziyi and being one of the final actress-

though I did make a few lifelong friends), I knew

es considered for the role of “Vanessa” on “Gossip

this was a good decision, because I was building

Girl” the role went to Jessica Szohr. I sucked it up

my post-MBA rolodex and getting ready to enter one

and took the next step that I’d promised my parents

of the most competitive and lucrative industries that

in a self-imposed ultimatum – I took my GMATs. I

came out of the post-dotcom boom that has revo-

ended up acing my GMAT’s, and in a moment of

lutionised both consumer behavior and the e-com-

reckless abandon, but one that I would ultimately

merce landscape in Asia – group buying, first with

credit as a stroke of genius, applied to the Hong

uBuyiBuy (which was subsequently acquired by

Kong University of Science and Technology (HK-

Groupon), and BEECRAZY now Hong Kong’s largest

UST), never for a moment expecting that I’d ever

group buying site. My third project to date has been

go to Hong Kong. My GMATs and application were

a social e-commerce project in the beauty industry.

strong, and I’m sure my unconventional background

But I’ll save these all for future entries.

helped, because about a month later I got a big fat envelope of acceptance, as well as a sizeable schol-

When I look back now, I realise the path from big

arship to the full-time MBA programme.

screen to small screen (internet, mobile, social media, e-commerce) has not been a smooth one. But,

The next few months were filled with trepidation,

albeit winding, this was was ultimately the right de-

dread, and outright fear as I realised I’d be head-

cision for me.

ing across the world and I couldn’t speak a lick of Women in MBA 2014

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Feature

MBA

programmes move to get more women into the boardroom

Pim Savetmalanond Why aren’t there more women in

the boardroom when research has shown that it’s just good busi-

Some companies have even wondered if the financial crisis a few years ago would have been as severe had women been in more leadership roles on Wall Street. According to a report by Credit Suisse Research Institute, firms with a balanced male to female ratio recovered more quickly from the 2008

ness sense? Studies conducted

crisis than those, which were dominated by men.

the International Monetary Fund

Today, more women participate in the labor force,

by Ernst & Young, McKinsey and

have all found a strong positive correlation between firms with more women in senior positions financially outperforming firms with fewer women.

but the ratio of males to females serving on corporate boards remains skewed. Many companies have recognised the problem and created diversity programmes to address this issue. However, some are still finding it challenging to find qualified candidates, which may be partly due to a gender gap in business education – only a third of students in the top 100 global MBA programmes are women.

19

Through greater flexibility in courses, financial aid, and child-care options, the pursuit of a business degree doesn’t need to be unattainable anymore.

Other schools have turned to their own alumni to bring more women into the fold, as well as reaching out to women working in areas outside of finance or business that might also benefit from an MBA. Alumnae in particular are valuable as potential students can see how the programme helped them get great jobs or advance their careers.

So why are more women not enrolling in MBA pro-

Macquarie’s ultimate goal is to enroll equal num-

grammes? A major challenge for many women in the

bers of men and women in their programme. “We

25-40 age group are family commitments. MBAs are

have a shortage of leadership capital in the country

expensive and not everyone may benefit from tax

and we have a group of women who could satis-

deduction of their course fees. Programmes may not

fy that shortage. They just aren’t being encouraged

be sufficiently flexible for women who are on ma-

and facilitated to enter into MBA programmes,” says

ternity leave or caring for children, making it all the

Alex Frino, dean of Macquarie.

more challenging to get to the classroom. Perceived lack of future prospects may also discourage women

In addition to improving access to MBA programmes

since they see so few women in senior leadership

for women, this is also an opportunity for students

positions, perpetuating the misconception that the

to talk openly and frankly about gender diversity in

investment isn’t worthwhile enough to pursue.

business. Increasing awareness about subtle gender biases in the corporate world will pay off signifi-

The Macquarie Graduate School of Management

cantly when current MBA candidates are 10 to 20

in Sydney, Australia is attempting to identify the

years into their careers and have the privilege of hir-

challenges faced by women considering an MBA

ing, promoting, and retaining qualified candidates,

by developing a programme to better support them.

regardless of gender.

Women in MBA 2014

20

Feature

Female

CEOs in China: Future looks brighter Paul McGuiness When people think about the number of female chief executives in

China, one might tend to think that it would be low, perhaps even

lower when compared with companies in the West.

A study on the gender of chief executives in China

Paul McGuinness, a professor in the department

by the Chinese University of Hong Kong Business

of finance at the Chinese University of Hong Kong

School sheds new light on this issue. The research

(CUHK) Business School. “We go much deeper in

shows that almost 4.5 per cent of chief executive

our examination of the role of chief executive gen-

positions in Chinese-listed companies are female.

der effects in China.”

This actually compares favorably with the US, where around 4 per cent of “Fortune 1000” firms are led

He stresses that over the past decade, China’s econ-

by female chief executives. The study indicates a ris-

omy has undergone tremendous change with pri-

ing trend in female chief executive participation in

vate companies emerging and competing side-by-

China and breaks new ground in the examination

side with longstanding state-owned companies. At

of chief executives in relation to various aspects of

the same time, women are becoming more prom-

Chinese-listed companies. Most of the research has

inent in the business sphere. Consequently, it is

focused on the gender diversity of managing boards

an appropriate time to explore the effects of such

at a global level and scholars have seldom looked

ownership change on Chinese women’s access to

so closely at China.

leadership positions.

“There is very little analysis of the role of chief ex-

Private firms nurture the trend

ecutive gender in China, and some studies look

A central focus of the study is the extent to which

at gender only superficially or tangentially,” says

growth in female chief executive participation has

21

“

The greater the proportion of private ownership the more likely a female chief executive.

“

been driven by the emergence of China’s private sector. From 11,000 firm-year observations over a nine-year period (2000-2008), the findings reveal that the recent growth in female chief executive participation rates in China is due largely to privately controlled enterprises. Over the nine-year study period, Chinese female chief executives’ participation rates in the private sector have risen from below 4 per cent to more than 8 per cent. In contrast, female chief executives’ participation in state-controlled firms has remained more or less flat.

Is there a direct link between ownership and female chief executive participation? “Yes, we believe there is,” explains McGuinness. “The greater the proportion of private ownership the more likely a female chief executive.”

“Private companies in China are more likely to hire female chief executives. Female participation at the chief executive level is not only increasing over time but at a faster rate in private firms. For state-owned enterprises, we detect little change in the proportion of female chief executives,” says Kevin Lam, a professor at the School of Accountancy of CUHK Business School.

McGuinness further explains that in the private secWomen in MBA 2014

Feature

tor, traditional networks and “connections” are less keenly felt. Private firms generally compete in much more contestable markets, which require them to be more flexible and efficient. This might lend itself to greater appreciation of leadership skills and thus a more gender-neutral approach to top management hires.

Competition a catalyst for more female leaders The analysis is taken deeper. The percentage of female chief executives in China is relatively high by international standards, which raises an intriguing question: Is it a reflection of the government’s attempt to promote gender-neutral hiring policies or is it one fashioned by competition in the growing private sector?

McGuinness and Lam conclude that “market competition has a greater impact on this up-trend. Studies have shown that competitive forces are generally more effective in bringing women managers into companies, because market mechanisms may be better at identifying and rewarding strong performers. When you face competition, you have to remove bias and focus more on bottom-line issues.”

Moreover, Prof. Lam opines that China’s culture is not hostile to women becoming managers in the mainland business world.

“

Studies have shown that competitive forces are generally more effective in bringing women managers into companies.

“

22

23

Gender pay gap still exists

In light of this, some countries now impose a gender

Although the trend for Chinese female chief ex-

quota on the managing boards of firms. Norway, for

ecutives looks positive, female chief executives in

instance, imposes a legal requirement for at least 40

Chinese-listed firms still receive less remuneration

percent of listed firm board members to be female.

than their male counterparts, according to the re-

Many other countries recommend minimum levels

search. However, the wage gap between female

of participation through codes or rules of best prac-

and male chief executives is a worldwide issue, not

tice. There is currently no nationwide law in China

just a Chinese one. Indeed, women who are among

for setting such a minimum gender quota.

the highest paid executives at S&P 500 companies earned 18 percent less than their male counterparts

Despite this, the future for women in senior lead-

in 2012, according to Bloomberg News.

ership positions in China is hopeful. “As the Chinese economy becomes more balanced in terms of

“Consistent with international evidence, we find a

state-owned and private firms and as state-owned

statistically significant difference in compensation

enterprise reforms deepen, more and more female

levels,” says McGuinness. “Women do suffer a dis-

business leaders are likely to emerge. This is indeed

count in terms of remuneration. This could be due

part-and-parcel of a global movement as well,” con-

to several factors. For example, we notice that age

clude McGuinness and Lam.

and tenure are strongly correlated with executive compensation. Someone older or someone who has

Featured professor: Paul McGuiness is a professor in

greater tenure gets paid more. In general, we find

the department of the Chinese University of Hong

that male chief executives are often older and enjoy

Kong Business School.

greater tenure than their female counterparts.”

Benefits of gender parity When it comes to the benefits of gender equality, McGuinness believes that more equal gender participation helps promote competition and that competition itself reinforces neutral gender-hiring policies in the boardroom.

Women in MBA 2014

24

Opinion

Photo: Tomohiro Ohsumi, Bloomberg

“Nice girls don’t negotiate” and other gender myths Horacio Falcão

to a set of gender-specific social and psychological barriers. Take these away and women can achieve results as good as, if not better than, men’s by leveraging their special strengths, according to research on the topic.

A slanted playing field First, let’s talk stereotypes. Despite the real progress

Horacio Falcão is a senior affiliate professor of deci-

that has been made in recent decades, there’s still

sion sciences at INSEAD.

a social stigma against women who ask for more.

Society hasn’t yet got rid of traditional associations

Women aren’t worse negotiators than men. It’s just

with the truly feminine; never-changing “niceness,”

that their negotiation strengths and weaknesses are

“sweetness,” and “friendliness.” Women who adopt

little understood.

behaviours deemed more “aggressive” or “dominant”, which are taken for granted if not encour-

It is widely believed that the gender pay gap – which

aged in male managers, are often viewed as harsh

the U.S. Census Bureau estimates at 77 cents on the

or unlikeable. While men may also feel confined

dollar – is partly a negotiation-skills gap. In other

by their gender role, the dominant stereotypes are

words, one of the reasons women are paid less than

more likely to disadvantage women by leaving them

men is that they don’t know how to ask for more.

with limited options for seeking redress when they feel unrecognised.

There is some truth in this, but it is hardly the whole story. Rather than an innate incapacity, women’s

Research shows that too often women start to be-

worse negotiation outcomes are largely attributable

lieve these stereotypes themselves, and become

25

accustomed to asking for less and giving away

avoid negotiating twice as often as men do.

more. One study showed that Asian-American women who were asked their gender before taking

Women’s lower expectations are reinforced by the

a science exam scored lower than another group

cross-gender tendency to gather information from

of Asian-American women who weren’t asked

same-sex social networks. In preparation for a ne-

that question. An explanation for the discrepancy

gotiation, women will tend to solicit advice from

might be that bringing up gender reminded female

other women, who are also likely being paid less.

test-takers of the stereotype that women are bad

This helps to keep the pay gap hidden, thus perpet-

at science and may generate performance anxiety

uating it inadvertently.

that in turn reduces their scores. If taken to heart by enough people, stereotypes can become self-fulfill-

How women can win

ing prophecies.

Enough about the problems; let’s get to the solutions. There are three ways to get around the obsta-

Innate differences

cles facing women in negotiations.

But not all the constraints on women negotiators come from the outside world. Genuine facets of

1. Reduce uncertainty

female psychology – based in science, not bias –

Women achieve worse outcomes when the bounda-

are also likely to play a role. They boil down to two

ries of negotiation are unclear. When women come

major challenges: negotiation as an exception and

to the table armed with the pertinent facts about pre-

lower expectations. While these aren’t true of all

vious outcomes and standards they can fare just as

women they are fair generalisations we can extrap-

well as men. Women should do thorough research

olate from the body of gender research conducted

(including venturing outside their social circles) to

to date.

get a complete picture. They should also ask for outside input in shaping more ambitious yet still real-

Women, on the whole, tend to expect a certain lev-

istic goals. Setting up mock negotiations can also

el of fairness in life that doesn’t always play out in

help women anticipate possible anxiety-producing

the workplace. Too often, they assume that options

scenarios and strategically shape questions to ask

presented to them have already met standards of

during real sit-downs.

fairness approximate to their own. When entering a negotiation this leaves them vulnerable to manip-

2. Play to your strengths

ulation in a way that men aren’t. This perhaps can

The gender-psychology news for female negotiators

help explain why 20 percent of women never nego-

is not all bad by any means. In a famous study by

tiate their careers, and why women, taken together,

Hannah Riley Bowles, Linda Babcock and Kathleen Women in MBA 2014

Opinion

McGinn, women handily outperformed men when negotiating on someone else’s behalf. It’s when their own circumstances are at stake that the barriers tend to surface. There are several strengths women can bring to the table without openly transgressing gender roles. For example, women are generally more curious than men, which can be a great asset in forming an open and diagnostic line of questioning.

This is an excellent and less confrontational tool for building advantageous relationships.

3. Manage all your labels Gender isn’t the only label that matters in a negotiation. Indeed, in the study I mentioned earlier involv-

“

To sum up, women are better able to create value in a negotiation, but often struggle to benefit from that value themselves.

ing Asian-American women, the subjects’ scores were higher when they were asked about race in-

“

26

stead of gender. And a group of women scored better on an English exam when asked about gender than when asked about race. While it’s unfortunate society still seems mired in stereotypes, at least women, who are aware of all their labels, can use positive stereotypes to counteract the negative ones.

When Aisha (an executive I once interviewed) was

and risk breaking down the negotiation altogether.

called in to rescue her firm’s relationship with an

Women are not worse negotiators, but stereotypes

unhappy client, she drew upon her gender role

help to create an environment that emphasises their

to re-establish trust and communication with the

weaknesses.

client. On a different occasion, as the only woman participating in a tense negotiation, she found

But this may be changing. As more women learn

herself constantly interrupted and ignored. She per-

to overcome gender negotiation obstacles they may

suaded her counterparties to take a break to cool

become better negotiators than men, who have nev-

down, during which she brought up the topic of

er had to reckon with the role gender plays in this

previous experience. Staying within her permitted

area. In addition, female-associated behaviours,

gender role, she listened to the others recount their

such as supporting others, curiosity, cooperation,

experiences then described her decade of experi-

and convincing, are increasingly being regarded as

ence in investment banking. When the negotiation

important negotiation techniques for both genders.

resumed, Aisha’s contributions to the discussion were taken with the seriousness they deserved.

This article is republished courtesy of INSEAD Knowledge. Copyright INSEAD 2014

The future of negotiation To sum up, women are better able to create value in a negotiation but often struggle to benefit from that value themselves, while men are better at capturing value, but may do so at a higher social cost

27

What MBA MBA women women are doingdoing are with with theirtheir degrees degrees Jeannie Mark

Now more than ever, women are obtaining MBA

ments like this: ones that are dynamic and intellec-

degrees in droves. A report released the U.S. De-

tually challenging.

partment of Education found that in 2007, 44 per cent of women received an MBA, a 75 per cent in-

Finance and consulting

crease from a decade earlier. It’s also interesting to

Even though female MBAs do seek out positions that

see what industries attract MBA women.

are personally fulfilling, some take on challenging positions at major banking institutions or in man-

The most popular industries that MBA women grad-

agement consulting for global companies in the ar-

uates gravitate towards are:

eas of manufacturing, IT, biotechnology, and pharmaceuticals.

Non-profit and public sector Female MBAs tend to seek out non-profit or public

For MBA female graduates, what matters most in a

sector jobs because they want to contribute to the

career is working for employers that practice ethical

world and make a more positive impact. Not that

standards, have a high degree of social responsibil-

men don’t, but male MBA graduates tend to take

ity, and harbour a sound industry reputation. These

positions that will lead to management or want to

examples of career choices for female MBAs some-

be part of innovative product development.

times don’t factor in very long for a female graduate once the call of family arrives. With career and fam-

Marketing

ily pressures, some female MBAs decide to forgo a

Some MBA female graduates don’t necessarily want

demanding career and raise their children instead.

a technical job, but crave creativity. Senior positions

This has caused many business schools to imple-

in marketing allow them to watch products grow

ment programmes and utilise alumnae networks to

from the innovative side of a project, instead of

encourage women to consider advancing personal-

merely the technical end.

ly and professionally with their MBA degree.

Public relations Public relations involve a lot of coordination, writing, event planning and a burst of creative ideas that require good leaders. MBA women seek environWomen in MBA 2014

28

Opinion Photo: XXX

Is an MBA worth it for women?

Cayleigh-May Forbes Has the glass ceiling been shattered in recent years?

- Try new things

The high profile of chief executives like Marissa

- Challenge themselves intellectually

Mayer and Oprah Winfrey make it look like wom-

- Discover special talents

en have as much opportunity to reach their career

- Pull in higher salaries

potential as men, but the reality isn’t so straight-forward. Women and men don’t earn equal salaries,

In spite of this healthy list of reasons, there are a few

(women’s salaries are 28 per cent to 4.8 per cent

caveats when it comes to women making the choice

lower in the US, depending who you ask). There

to pursue an MBA.

have been reports of women being overlooked for promotions and studies into unconscious biases

One of the first things women wonder about is the

suggest men, who do most of the hiring, tend to pick

ratio of men to women on the course. Most classes

men over women, even when all other qualifica-

will be made up of 60 per cent to 70 per cent male,

tions are the same. In this grey area of equality and

and the school’s male alumni population will likely

women in the workplace, how do women consider-

reach at least 70 per cent . While application com-

ing an MBA decide if it’s the right move?

mittees and institutions like the Forte Foundation try to get more women into business, the numbers re-

Irrespective of gender, one of the universal advan-

main imbalanced. If you’re asking whether an MBA

tages of an MBA is the networking opportunities.

is right for you, you have to ask whether you’re will-

Through individual courses, business lunches, in-

ing to be in this male-dominated class. It’s worth

ternships and conferences an MBA student makes

noting of course, that most companies and manage-

many interesting and useful contacts. MBAs across

ment teams will also be male-dominated.

the board also have the opportunity to:

29

have children, there are a few ways to time things: study soon and hope to gain enough experience upon graduation to make a career you can return to, or use the MBA as a way of reigniting your career after a break for children. For women who don’t plan to have children, the issue is not moot. Even

“

“

Timing is the other factor. For women who plan to

The cost of an MBA in both time and money means making the right choice is important.

if it’s subconscious, many employers still look at a woman’s age when trying to decide their value to the company: Will they work for two years then disappear or suddenly wish to work fewer hours?

The cost of an MBA in both time and money means making the right choice is important. There are other ways women can gain experience and learn on the job, although none comes with the official seal of approval of an MBA. Perhaps, the easiest way of thinking about it is to consider whether you’re up for standing up to a still male-dominated world of business and stride to reach higher and further to get ahead.

Women in MBA 2014

30

Opinion

Female MBA students ‌get out of your own way!

Heather McKenzie

Photo: iStockphoto

31

For centuries, leadership around the globe has

you will come across. If this is an area of difficulty

been largely male-dominated. As they have made

for you, hone that skill in social settings or in low-

more and more advancements in politics, busi-

er-risk dynamics, such as group projects or student

ness, society and in the home, women continue to

clubs. Trust your instincts that you are on the right

be their own worst enemy to breaking stereotypes

track. Remember that you were admitted on the

and boundaries. Business programmes at Harvard,

same criteria as your male counterparts and you are

Wharton, and Stanford are all approaching the 50

equally as capable of expressing important ideas.

per cent ratio for female admissions. The admissions office isn’t where women are being thwarted. If you

Don’t expect for things to happen for you if you

want to pull ahead in your MBA classes, heed the

don’t ask. One study found that of recent master’s

following guidelines.

graduates, 57 per cent of men negotiated their starting salary, while only 7 per cent of women did the

Don’t qualify every statement out of your mouth

same. Women tend to allow self-doubt and fear

with a disclaimer about its merit. Eliminate your

hold them back. Yes, some bold women are still

tendency to start an idea with “I don’t know, but …”

viewed as selfish or bitchy when they speak up and

or “I’m probably off track here, but …” or “I don’t

ask for what they feel they deserve, but this is a dy-

mean to interrupt, but …” This also includes ending

ing stereotype. There is only one way to change this

statements with “…. but I’m not really sure,” or “…

perception: prove them wrong.

could I be right?”

Do assert yourself and insert yourself. Join the conDo express your ideas with certainty and clarity.

versations and express what you want and what you

Avoid using words and phrases such as “maybe,”

have to offer. This means being vocal about your de-

“sort of,” and “I guess.” Refrain from ending your

sired role in group projects, challenging professors

statement on a question or with a lifted vocal tone

and classmates when you have an alternate theory,

that expresses uncertainty. Mimic the certainty of

and turning off the doubting voice in your head that

the admissions officers who selected you because

says your idea is probably not worthy.

of what you had to offer.

Women absolutely still have barriers to overcome Don’t spend a lot of time contemplating your ideas

and a tougher road than their male counterparts.

or feedback before speaking up. Women often wor-

They have greater opportunities for success and

ry how they will be perceived and pause to create a

equality, but women need to stop holding them-

“perfect” statement. In the space of that pause, the

selves back from getting ahead. Get out of your own

opportunity has passed; often to a more vocal male.

way! Assertiveness, confrontation, and boldly expressing ideas or wants are all crucial skills for job

Do practise finding the balance between blurting

success. Start polishing them now.

out ill-formed thoughts and worrying about how Women in MBA 2014