I can only hope to live long enough to see Women receive equal pay for equal work. Yes, I am biased, as the proud Father of two daughters, but c’mon already, especially in this industry, the time has come — or as a survey by Commercial Real Estate Women (CREW), the time is nearing.
Women in Commercial Real Estate 2010, a five-year follow-up to the first ever in-depth look at the issue of men and women in commercial real estate conducted by CREW Network in 2005, revealed:
1) More women are now in the $100,000 per year to $250,000 per year salary category, but still fewer than men. Whereas only 8 percent of women surveyed in 2005 were at the $250,000 level, by 2010 that figure had increased to 11 percent, while the percentage of men in the same compensation category had decreased from 34 to 31 percent.
2) More women are entering the field of commercial real estate and finding opportunity: 36 percent in 2005 as compared to 43 percent today – a seven percent increase. The study found an increase in the number of women with less than five years of experience and women with more than 20 years of experience.
3) Men still report earning a greater portion of their overall compensation from various forms of variable compensation such as bonuses, stock options, etc. but both men and women are beginning to report that a higher percentage of their total compensation is drawn from base salary (58 percent in 2005 to 67 percent in 2010).
4) C-Suite positions continue to be a majority male: In the survey, 9 percent of the female respondents reported holding a C-suite position – President, CEO, CFO, COO – while 22 percent of the male respondents reported holding C-Suite positions. Overall, the number of C-Suite positions was significantly reduced in the 2010 study for both men and women, compared to the 2005 study, in response to the depressed economy in 2010.
Progress, especially as it relates to Women’s rights, equal pay and equal respect in all areas of life, should continue moving forward in a positive manner. It’s a batter World when Women are integrally involved. Perhaps I will live long enough to see ‘equal pay for equal work’ for Women (and, of course, a day when Men stop trying to dictate how they should live, work and play).
Invest well. Peace.