Monday, 20 November, 2017
The University of Newcastle’s Faculty of Business and Law is working with local businesses to support and prepare aspirational women for management roles.
The Women in Master of Business Administration (WiMBA) Scholarship initiative provides co-funded scholarships for local women to complete an MBA. The program aims to redress management gender imbalance in Australia.
“The latest statistics tell Australia’s story of inequality,” Dr Doyle said. “The percentage of women on ASX 200 boards is around 25 per cent, and there are still 11 ASX 200boards without any female representation.”
The average weekly full time wage for a female is 18 per cent lower than a male wage and female CEOs earn almost $1 million less than male.
Completing an MBA has proven to have significant impact on career pathways, particularly for advancing middle-managers to executive roles.
The WiMBA program offers scholarships to female students, in partnership with organisations. It encourages them to develop the leadership skills and strategic perspective to move into senior management and executive positions.
Dr Doyle, an angel investor and author who sits on three ASX 50 corporate boards and is a member of the HRF Centre Advisory Board, said that programs such as WiMBA are important to assist Hunter-based women to move into executive positions.
“Achieving equity for women in senior business roles is not only the right thing to do, it is also good for business,” Dr Doyle said. “It is no coincidence that the Australian companies with the largest market capitalisations also have the highest proportion of female board members.”
“In future, we hope that programs like WiMBA are widespread and ensure that there is no glass ceiling to break in Australia and no gender pay gap.”
Five Australian universities, all accredited by the Australian Business Deans Council, currently offer the WiMBA program. Companies who are partners in the WiMBA Scholarship program are fostering positive regional economic growth by addressing gender diversity in leadership.
If you would like to help grow the female talent pipeline in your organisation, find out more about becoming a WiMBA partner.