What’s Keeping Women Out of the C-Suite?

Are women ambitious? How do they define success? What propels them to the top?

We partnered with American Express Canada to answer these questions and more, in a study that explores what is holding women back from advancing into top leadership positions. One of the problems? Few corporate women find the c-suite achievable.

While 51% of women—including entrepreneurs and corporate workers—define themselves as ambitious in their careers, only 32% believe the c-suite is within reach. Even more interesting, less than 28% aspire to it.

Do women not identify themselves as good leaders? The research suggests not. 87% of women believe they have great problem solving skills, 84% believe they are empathetic, and 81% say they are strong decision makers—all skills they have stated make for a successful leader.

Why, then, are we not seeing more corporate women aspire to the c-suite?

Mentorship and sponsorship play an integral role. The study shows that 61% of corporate workers with a sponsor believe the c-suite is achievable—nearly double than those without a sponsor—yet only 8% of female entrepreneurs and corporate workers have a sponsor, and only 27% have a mentor.

Women also mention that their definition of success has changed, with 72% describing it as “loving what they do,” compared to 45% who said it was “meeting their financial goals.”

Gender inequality also follows women home. Nearly three quarters of the women surveyed contribute equally or more to household income, yet there is still lack of balance with household duties. Nearly half of women say they have made sacrifices to benefit their family, where only 24% say their spouse has done the same.