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Female business executives thrive in weak economy

Updated: Friday, September 11th, 2009

The majority of women who have had successful business careers and become presidents have managed to steer their companies through the economic downturn in the past year.

A new survey from the Women Presidents' Organization (WPO) reports 55 percent of female presidents or CEOs have maintained or grown their employee base, while 67 percent of these companies have maintained or increased employee salaries in 2009.

Of the 1400 companies surveyed - hailing from the U.S., the UK, Canada, Peru and South Africa - nearly one-third reported financial gains in 2009.

Marshia Firestone, founder and president of the WPO, attributes these numbers to female executives finding "ways to adapt to the changing economic climate" despite the fact that profitability as a small business "is tougher than ever."

Although the direction of the economy remains uncertain, a total of 82 percent of survey participants claimed to be optimistic regarding their performance in 2010.

Women wishing to pursue a business career may consider entering an MBA program to increase their salary potential. The U.S. Census Bureau reports that women without any degree had an average annual income of $35,916 in 2006, while women who completed a bachelors program or more earned an average of $59,052 per year.
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