It’s no secret, that there’s a disparity for women in tech. In fact, women make up just about 25% of technology workers, and the quit rate for women in tech jobs is 41%, or more than 2X that of men. Additionally, as a result of the global Covid-19 pandemic, women were disproportionately impacted, many being forced out of the workforce due to childcare needs and burnout.
As we evolve as a society, we continue to move in the right direction. Forbes recommends four strategies to get more women in tech:
In addition to the hiring gap, there’s also a wide pay gap between men's and women’s salaries - the average US woman's earnings are around 80% of the average US man's. Not only do women experience a pay gap compared to men, but different groups of women also have a wide disparity in their salaries. Many factors contribute to this intra-gender salary disparity including race, ethnicity, disability, age, childbirth, sexual orientation, geography, industry, and access to education. Generally, white women worldwide outearn women of color, especially Black women.
Despite these disparities, women show immense resilience and forge paths for themselves in the world:
The achievement gap for women in the entrepreneurial space is even higher. With 80% of founders worldwide being male, female founders are still finding it difficult to get funding or be taken seriously as a founder. There’s also a massive funding gap with only about 2-9% of all funds deployed to technology startups going to founding teams that included at least one woman (female founders of color receiving an even smaller sliver). The rise of alternative finance can significantly alter these figures in the future by making more funding available to women and minority-led businesses.
However, we know that female leadership and entrepreneurship is really important and has many positive impacts:
Even with all the work to be done, there is much to celebrate in the world of female achievement and women in tech. Here at Capchase, we are committed to raising up women in leadership and entrepreneurship. Apply for one of our open roles today.
Celebrate female leadership with us this Women’s History Month by joining our Women in tech event on Weds. March 23, 2022 at 1pm ET. Register here.
To access funding that is helping to #BreakTheBias visit Capchase.com/Grow