Women in MBA programs: The global context

Globally, women remain underrepresented in MBA programs. However, significant progress has been made in recent years. In 2021, the number of women in MBA programs reached an all-time high. That year, the Forté Foundation, a nonprofit organization dedicated to gender equity in business, reported that women constituted 40% of students among member schools. Beating the average, NUS Business School reported having 43% women in its 2022 full-time MBA cohort. Accelerating the upward trend is crucial as women bring unique perspectives and leadership qualities that can enhance the business landscape.

So why have women consistently (and historically) been underrepresented in MBA programs? Research shows that the main barriers women face in pursuing an MBA include the following:

  • Lack of female role models,
  • Incompatibility of careers in business with work-life balance,
  • Lack of confidence in math skills, and
  • Lack of encouragement by employers.
 

Stella Ma Yuhan, from the NUS MBA Class of 2022, is among the increasing number of women not letting barriers hold her back. She is a commercial lawyer and, like many of her classmates, is a mother. Most women decide to do an MBA to enhance their professional credibility, increase their income, change careers, or advance their existing careers. Stella had an additional motivation to pursue an MBA, to be a role model for her daughter: “I want to show her that I can work as well as take care of kids. I can bring what I learned at school to share with her.”

One of the most rewarding aspects of business school is interacting with other students and following a dynamic curriculum. 

Those experiences are enhanced when classmates have shared characteristics, especially gender.

“There’s a large amount of female representation in the student body, and I think it’s enriched my learning experience,” says Francesca Katrina Tankiang from the NUS MBA Class of 2023. “I’ve been able to meet other females from professional backgrounds completely different from mine. … I got to interact with a lot of part-time students, and a lot of them are actually mothers. Raising children and still attending to a full-time job while attending business school. So that’s been very inspirational for me.” (00:02)

The business case for women in leadership

Beyond MBA programs, women are also underrepresented in leadership positions. In 2021, the Fortune Global 500 reported an all-time high of 23 women CEOs, including six women of color. In the same year, women comprised only 26% of all CEOs and managing directors globally. 

Despite these disappointing statistics, the business case for women in leadership is strong. Companies with women leaders are more likely to outperform companies without women leaders financially. 

Research from NUS found that, on average, adding one woman director can improve financial performance by 11.8%. Their findings also show a positive relationship between gender diversity in the boardroom and financial performance.

Female leadership has also been positively linked to promoting environmental and social practices. This is because women exhibit more prosocial traits, such as holistic thinking, managing complexity, and inclusive leadership. 

Joanna Zhou Yuqiao, the NUS MBA Class of 2023, adds, “Actually when you have a child, you will have more interest in sustainability. … Everyone who, after they become a dad or mom, they’re very interested in sustainability because they want this world to be a better place for their children to live. So, that is also why I’m so interested in sustainability.” (01:32)

What can MBA programs do to empower women?

To attract more women into MBA programs and set them up for success during (and after) their studies, business schools can implement a number of measures. A top measure is to increase the number of female faculty members. Notably, in the recent Financial Times Global MBA Rankings, NUS Business School’s ratio of female faculty, at 35%, was the second highest among top MBA programs in Asia.

Empowering women can also involve providing non-material support, such as increasing the program’s flexibility to accommodate MBA students who are balancing school, work, and family responsibilities.”

For Stella, the flexibility of the NUS MBA program made all the difference. She shares, “When I was applying for the NUS MBA, they told me that, ‘Our curriculum program is very flexible.’ It means that as a mother, if I really need help, I need to spend more time with my family, I can adjust my modules.” (00:44)

Another effective way to empower women in MBA programs is to lower the financial barriers to entry. NUS Business School, for instance, offers the NUS MBA Scholarship for Women, for exceptional female candidates who have shown remarkable leadership and dedication to promoting women’s advancement. In addition, scholarship recipients collaborate with the program team to encourage more female MBA hopefuls to pursue their ambitions.

Building community & dreaming big in the NUS MBA

Next to flexibility and financing, building community is also a powerful tool to empower women in their MBA journeys. The NUS MBA Diversity and Inclusion Club is a student-led committee fostering a community for young female leaders along with those from the LGBTQI+ and disabled communities.

Increasing the visibility of women in business education and the wider business world makes a difference. 

Whether you’re a mother or a working woman (or both!), pursuing an MBA should not remain an unrealistic fantasy. As NUS MBA student Lina Ichiki says, “Even if you become a mother… it’s always good to pursue your dream. It’s always good to be honest about what you really want and what you’re really passionate about.” (03:12)

NUS Business School is dedicated to providing its female students an inclusive and supportive environment. By offering financial assistance, fostering a sense of community, and promoting diversity and inclusion, the school aims to create an environment where women can thrive in their MBA journey.

Curious about what it’s like to study at NUS Business School? Reach out directly to a current or past NUS MBA student to find out!