The 6th annual, 2024 Definitive State of Women in Revenue report once again reveals the challenges and priorities faced by women in revenue-generating roles. This year’s findings underscore a growing focus on job security and work-life balance, a significant shift from performance-centric concerns to more personal needs.
In our report, “Career Success vs. Quality of Life: Balancing Professional and Personal Goals for Women in Revenue,” three key themes emerged from over 800 respondents:
(1) A desire for more flexible work arrangements
(2) Compensation equity
(3) A need for more women in leadership roles
These themes demonstrate a fairly significant change from previous years. The tilt towards a more balanced life has come to the forefront, over business and personal performance. However this desire for work/life balance is also outweighed by the stress of professional challenges. Women feel increased pressure from both personal and professional sides, leading to high levels of burnout.
More Work Flexibility
Work-life balance and job security tied for the number-one challenge as the option to work from home remained respondents’ most important benefit this year. While 65% of respondents are 100% remote, some employers continue to pressure workers with return-to-office mandates, knowing some will quit.
The combination of work-life balance concerns with flexible work as a top benefit presents a high propensity for burnout. Remote workers may feel the need to work harder and longer to preserve their job.
Compensation Equity
Compensation and the battle for equal pay remains a top
concern. Women in revenue roles are often well compensated, however, pay disparity still ranges from 57% to 84% of what men make for the same role.
While 50% of women know they are being paid less, 39% of respondents report that compensation, salary transparency, and negotiating are top challenges. Women in revenue continue to lack confidence (and information) when negotiating salary.
More Women in Leadership
Along with the desire for mentors, women also cited the need for more women in leadership roles. Mentors serve as advisors to help talk through, evaluate, and build plans for work and life opportunities. For respondents with mentors, 74% say the mentor helped them navigate a challenging workplace situation.
Despite the many benefits of mentorship, only 28% of women in revenue have mentors. The lack of women in leadership roles could be a factor in the low mentorship activity. Leaders have limited bandwidth and can only manage a few mentees.
Fortunately, resources do exist. Women in Revenue has an inclusive mentorship program designed to uplift, support, and inspire today and tomorrow’s female revenue leaders.
Dive into the full 2024 Definitive State of Women in Revenue Report HERE!
Join Us
The Women in Revenue organization of 7,000-plus members aims to achieve gender equity in the workplace. We give back to women through education, mentorship, visibility, and career development opportunities; and, ultimate, moving our members’ careers forward.
Joining this community will not only amplify your voice, but also help create more equitable opportunities for you and your peers.
