Women are graduating from college and professional degree programs at record levels, but continue to be underrepresented in science, technology, engineering and math fields. However, when comparing the compensation of male and female CEOs in biotech, using the Thelander 2016 Private Company Compensation Report, we found that there is no disparity between median base pay. So, what makes the compensation playing field more level in biotech than other industries?
The answer is education. While there are nine male CEOs for every female CEO in biotech, according to the PitchBook Platform, 51% of female biotech CEOs hold a PhD degree or higher, compared to 36% for male biotech CEOs.
Despite the progress women have made in entering traditionally male-dominated industries, women need more education to be able to compete with their male counterparts. As companies struggle with gender discrimination and hiring practices, it will be interesting to see how soon the gender pay gap begins to close in other industries.