Following a meeting at the White House on Wednesday August 5, 46 of the US’s leading business schools have signed a pact outlining how they intend to perform better with respect to international inclusion and gender diversity.
Signatories, which include HBS, Wharton, Stanford, Kellogg, NYU Stern and Columbia Business School, have all committed to a set of best practices that, according to the White House, offer “concrete strategies for business schools to help women succeed throughout school and their careers and to build a business school experience that prepares students for the workforce of tomorrow”.
One of the business school deans in attendance at the White House was Soumitra Dutta of Cornell’s Johnson Graduate School of Management:
“It is imperative that we provide educational experiences that effectively encourage and promote women in business,” Dutta said.
In support of the White House meeting, the Council of Economic Advisers – which hosted the event along with the Council on Women and Girls – issued a brief that outlined some the most damning statistics concerning women in business. For example, the fact that women made up just 5% of Fortune 500 CEOs in 2014, or the fact that female MBA graduates were found to earn 30% less than their male counterparts five years after leaving business school and 60% less 10 or more years on from graduation, in research from 2010.
Another signatory, the University of Maryland's Smith School of Business - which has pledged to reach 50/50 enrollment in all its graduate programs by the year 2020 – emphasized the purpose behind enrolling more female MBAs:
“Drawing more women into the pipelines of business schools can change our companies and get more women into higher levels in our firms," said the Smith School’s vice dean, Joyce Russell.
So, what have US schools agreed to? Well, the terms are divided up into categories on matters of access, the experiences of both underrepresented minorities and women in business school, careers services and organizational culture. Here’s a quick selection from each of these:
Women in business school – improving access
Measures here concentrate on making program options at business school more amenable to what researchers believe prospective female students are looking for. This means recognizing "life-cycle challenges" and looking at their capacity to accommodate greater flexibility in their learning programs. Another measure is more specific, and promises the development of programs – developed in conjunction with companies – that encourage women who have taken time out of the labor market to pursue EMBA qualifications as well as what is termed “robust relaunch programs”. Alternatives to the MBA, such as the master’s in management (MIM) are also mentioned as being programs that should be offered in order to “attract a wider range of students".


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