From the pinnacles of power by Fortune editor at large Patricia Sellers
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October 26, 2009, 12:46 pm

40 Under 40: Where are the women?

Just look at Fortune’s annual Most Powerful Women list to see the strides of women in business: Today an executive, to make the cut, generally needs to oversee some $6 billion in revenue, vs. about $1 billion 11 years ago when we launched the list. Still, the debate rages about why women aren’t moving up the ranks faster. My theory: Women tend to view power horizontally and live their lives in chapters–and so, even if all the glass ceilings across the world shatter, women will not catch up with men in terms of power. Still, we were surprised to discover how few women made Fortune’s just-released 40 Under 40 list of the most influential young people in business. So we asked Senior Editor Leigh Gallagher, who commandeered the project, to share her insights–which are fresh, smart and eye-opening. Here’s Leigh on the dearth of female rising stars:

In putting together Fortune’s 2009 list of the 40 Under 40, here’s the trend that stood out: Men outnumber women in our rankings by a ratio of 7 to 1.

Yes, there are only five women on the list. We can express indignation at this because it wasn’t our intention or our choice. In fact, we shook the trees pretty hard to make sure we weren’t missing anyone.

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Make no mistake: The women who made our list–financial analyst Meredith Whitney, Google VP Marissa Mayer, Ning CEO Gina Bianchini, CNBC (GE) anchor Erin Burnett and Coca-Cola (KO) marketing’s Wendy Clark–have all zoomed past men in their respective fields. But there are no women listed who, say, founded a Google (GOOG) or a Facebook or a Twitter. None who are self-made hedge fund billionaires. None who made it to the top 10. So, while the accomplishments of those five women are tremendously impressive, they still, for the most part, trail those of most of the men on our list.

What gives? I asked Sheryl Sandberg, COO of Facebook and one of the most prominent leaders in Silicon Valley, to weigh in. She cited some interesting numbers: Just 15 of Fortune 500 CEOs are women. Yet at the college level, more women are getting degrees than men–and even some professional schools are graduating more women than men. “So the question is,” Sandberg says, “what happens between leaving school and age 40 to make this list predominantly male?”

Sandberg (who, by the way, would have made the 40 Under 40 list if she hadn’t turned 40 this year) says she suspects that “disequilibrium of household responsibilities,” as she calls it, is a key reason women slip behind. Even when both men and women in a household work fulltime, she notes, studies have shown that women do the majority of the childcare and housework. Perhaps that’s not so surprising, but Sandberg’s point is that advancements on the domestic front seriously lag the gains women have made in the workforce.

“Over the past 40 years, we have made more progress in the workplace than in the home,” Sandberg says. “I believe the No. 1 thing we could do to change the numbers in the professional world is to find a way to balance responsibilities in the home.”

McKinsey director Joanna Barsh, who pioneered the firm’s Centered Leadership Project to help develop women leaders, thinks along the same lines. She points to the practical limitations that child rearing can put on women’s careers. “Not everybody slows down,” Barsh says. “But an awful lot of women choose to slow down and enjoy those years.” And for many women, she notes, the slowdown comes at the precise time when career opportunities tend to surge. “Your hormones are causing you to want to take care of everyone in your family at the very moment when you’re building your goal lines.”

Many women “zig and zag” rather than pursue one goal in a straight line, as most men are programmed to do. Women can still accomplish a great deal career-wise, but it might happen when they’re well past 40. Barsh’s idea for fixing the gender imbalance on the 40 Under 40 list? “Give women a ten-year handicap!”

Well, we can’t do that. But we can hope to see more women in the 40 Under 40 rankings in coming years. To be sure, half the people on our “Ones to Watch” list of fast risers are women. I asked Sandberg how long she thinks it will be until a woman co-founds a $100 billion company. Her answer: “Who says she hasn’t already?” She makes a good point. And we’ll be watching.

P.S. Tune into Postcards tomorrow for further discussion. And for more of Sandberg’s insights about navigating a successful career, read her first-personer, “Don’t Leave Before You Leave.”

A godly woman puts her husband and children at the forefront of her life. The Proverbs 31 woman was an entrepreneur ( as well as a king’s wife), but the home took precedence. Whatever happened to “the hand that rocks the cradle rules the world.” What higher calling is there than homemaking?

Posted By C. J. Flesher : December 11, 2009 10:31 am

There’s a dirty little secret no one talks about in corporate America. For women to rise to the upper ranks they still have to work twice as much as their male counterparts to prove they are credible and committed to the company. I’ve seen men in my mid management layer advance a lot sooner and make more money than some female counterparts who are more qualified and have put in the effort, but still have to “prove themselves”.

Posted By Kristine T. Austin, TX : November 20, 2009 1:04 pm

My sisters and I were Raised by my father, an engineer with the Federal government. We saw him go to work at 6 am so he could be home by 3 when we got out of school; back in the 70’s we were a ‘rare’ family. He cooked, cleaned, did laundry, and kept our home organized.
As girls and young women we were taught to be independent, excercise our minds and to believe our future was ours for the making.
Granted, none of us made a 40 under 40 list, but I have a sister with career in finance, and nothing has stopped her, she has a couple of wonderful sons to credit as well. Another sister went on to become an ironwoker, then a welder, then a site foreman…and a family. I worked my way up in the food industry, which at the time was male dominated, I worked hard and saved money to stay home to raise my kids, my choice.
I cannot judge anyone, but I wonder home many great dads are out there who wouldn’t mind raising their kids, but are rarely given the chance due to society’s views of male roles?
Huge financial ’success’, it seems to me, is a double edged sword for all. Many people, men and women, are boxed into accepted status, and who determines that status? – Anyone who accepts it, or it doesn’t exist.
My sisters and I have all faced great negativity in the work place, we had to work twice as hard, not carry a chip on our shoulder, and earn our due respect. We’ve won many battles, but not the war. As it is, sodietal attitudes towards men and women don’t always adress the Needs of them as people.

Posted By MLB Keene NH : October 29, 2009 7:05 am

While this article (too briefly!) explores an interesting topic, I admit I was taken aback by Joanna Barsh’s comment that where the 40 under 40 list is concerned, women should be given a “a ten-year handicap”. Even as a fanciful postulation it is patently absurd. Although many women are indeed faced with balancing the desire for motherhood as well as a satisfying career, I think it’s a discredit to women to leave the issue at that. Despite the many significant inroads women have made in the last thirty years to attain cultural, political, and economic equality, women in America today STILL struggle with inequality – in religion, media, education, public policy, cultural norms and views… Misogyny is still alive and rampant, and many women are still taught from a young age to consider themselves primarily as care-givers, subservient to their families, husbands, and children. Citing only biology and hormones as “handicaps” completely disregards the cultural inequality women are still fighting against.

Not to mention my deep disagreement with “money” = “success”… But beyond my personal gripes with this kind of measurement of success (what about happiness and personal fullfillment?…), I strongly believe that women have just as much motivation and drive as men to succeed in the financial arena. We still have a ways to go in leveling the playing field and getting a fighting chance at equal opportunity…

Posted By Laura H, Seattle, WA : October 28, 2009 2:48 pm

I disagree with comments stating that women are less motivated or less intelligent. It is also sad that so many think that being a good mother means a lack of intelligence or motivation. Being a good mother is much harder than being a successful business man or woman. Their reward will endure. That said, I work with many brilliant women that are good examples. Also, Our economy was toppled by the greed of some “successful” individuals who only thought of themselves. This reward could better be based on success in the monetary way and in the giving back to society. Not just the crowning of one’s self. The money reward is lonely in and of itself.

Posted By DJ Reynolds Seattle, Wa : October 27, 2009 3:31 pm

David- you might find it useful to educate yourself. Women have invented:
- the use of radioactive materials to enhance negatives for use in space and in X-rays
- Scotchguard
- white out
and windshield wipers. Next time you don’t die driving home in the rain, thank that woman that you just trashed.

Posted By Michelle, Ann Arbor MI : October 27, 2009 1:57 pm

It’s all about women making personal choices and people’s perception of them. The number of women leading business empires is slowing rising, however, nature and nuture will remain obstacles for the longest time. Getting pregnant or mothering children alone, regardless of household chores is a huge setback. Almost any woman will agree, that society frowns upon a woman who ‘abandons’ her motherhood instincts to persue her dreams or career.
Society needs to be more supportive to women tring to make in the business worls, but the women as well will need to take that first step to persue their dreams regardless of what the stereotypes think.

Posted By Lusaka, Zambia : October 27, 2009 2:40 am

If family and responsibilities at home are the reasons fewer women make the list, it seems that our society needs to take steps to change the perception that only the mother stays home with the kids, or does the majority of cooking and cleaning. More fathers need to step up and start doing more at home, or even staying home entirely while Mom is out working. Women are not weaker or stupider or have less initiative than men biologically, it is society (not to mention several idiotic commenters here) that is constantly telling women and girls that they are less than men. Correct this patriarchy and things will even out.

Posted By jb lansing mi : October 26, 2009 9:25 pm

If your survey included raising successful children, developing and managing schools, devoting time to charitable activities, dedication to professions such as medicine, politics, philanthropy, and teaching, you would have a plethora of candidates. It really depends on how you define success.

Posted By Donna Burlingame , CA : October 26, 2009 5:16 pm

Interesting article and I do agree with the points about women being torn between the house and workplace. That said, you cannot have both. Stop blaming children and families for not achieving. Many men make a conscious decision to put work first, as it’s our “biological nature” to be providers and, after all, that’s how we’re judged right? Bottom line if you want this list to show more women then more women have to chose to sacrifice family time for time behind the desk.

Posted By Eugene, Tampa, Florida : October 26, 2009 4:50 pm

Excellent article. I think the reason is obviously the responsibilities at home. However, women do not have strong role models, and are not nurtuted at a young age to be entrepreneurial or business minded.

That being said, has anyone tracked the success of these men (and women) who make these lists such as top 40 under 40 and see where they end up? Success under 40 doesn’t mean anything. It’s impressive for sure, however longevity and endurance should account for something.

Posted By Michelle, Toronto : October 26, 2009 4:48 pm

I think the reason women are under represented is their own lack of motivation. They have all the brains and tools but lack the drive. Most are loath to innovate and would rather lead than follow. So many smart women I know with advanced degrees end up either marrying and retiring very early (stereotypically the most attractive)or spend a few yrs in the banking or engineering trenches only to later enter the far less consequential marketing or fashion industries. Just try to name something that was ever created / invented by a woman outside of the art, literary, marketing or fashion fields.

Posted By David, NY, NY : October 26, 2009 4:08 pm

A simpler answer is that woman are good at riding the coattails successful men and are rarely have the vision, capability, and intuition of ground breaking ideas. It will be a cold day hell when a woman is the founder of a start up that breaks through. Latching on to men is all they know how to do.

Posted By MCP, NY, NY : October 26, 2009 2:33 pm

i travel aboard many years ,even goals also many long term capacity building ,invest projects many its that company rich ,about me nothing get ,

Posted By mann ng chee leong : October 26, 2009 2:26 pm

Why don’t you have a list entitled “40 who Made It Over 40″. You must admit, the “40 Under 40″ list is male-biased since men do not bear children. The “40 Under 40″ list is just another tool to give women anxiety about their lives.

Posted By M. Capossela, Baldwin Harbor, NY : October 26, 2009 2:13 pm
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Pattie SellersPatricia Sellers has written some of Fortune's most talked-about cover stories, including "Can Meg Whitman Save California?", Melinda Gates ("The $100 Billion Woman"), "MySpace Cowboys," Martha Stewart ("I cannot be destroyed"), Ted Turner ("Gone with the Wind") and Oprah Winfrey ("Oprah Inc."). And she has broken ground with insightful pieces on career management issues such as ego ("Get Over Yourself!"), and "Charisma: Do You Need It? Can You Get It?" Pattie chairs the annual Fortune Most Powerful Women Summit, the preeminent gathering of women leaders in business, philanthropy, government, academia, and the arts. And she has helped oversee Fortune's "Most Powerful Women in Business" cover package since its launch in 1998. She started at Fortune in 1984, covering the big consumer brand companies.
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