A Review on Factors Contributing towards Higher Participation of Women Executives at Senior Management Level in Banking and Non-Banking Sector

Abstract

India, a country with diverse traditions and customs, is known for its huge geographical spread and magnitude of its population. It has a huge working population of around 487 million out of which 62% of population is engaged in unorganized sector, and remaining organized sector is categorized by 11% in Industry and 27% in service sector. Out of this, women contribute to 29% of share in organized sector. The Gender pay wage gap is shrinking in India where women earn 56% of what their male colleagues earn for performing the same work. Women hold only 7.7% of board seats and 2.7% of board chairs in organized corporate sector. The industries with the highest percentage of women on boards are banking, technology, media, and telecommunications. (Women in Leadership, SunithaNatti, The new Indian Express)
Looking at Womens Leadership distribution across sectors highlights as Travel (2%), Retail (4%), Pharma (9%), Media (9%), Manufacturing (7%), IT/ITeS (18%), FMCG (16%), and Consulting (2%). The contribution in terms of Women CEOs is significantly less in other sectors if compared with Banking Sector (24%). The paper will highlight the different studies done on this remarkable fact.