What Percentage of CEOs are Female?

Women have gained more visibility in corporate leadership, yet the number of female CEOs remains low across major U.S. companies. Despite efforts to improve diversity, leadership roles at the highest levels are still largely held by men.

B2B Reviews analyzed the latest data to break down the percentage of female CEOs in the U.S., industry representation, compensation gaps, and the challenges women face in reaching executive leadership.

How Many CEOs Are Women in the U.S.?

Women remain underrepresented in corporate leadership, but their presence in executive roles is gradually increasing.

According to the 2024 report by WBCollective, the number of women in CEO positions is still low, but steady progress is visible across different business sectors.

• Women account for 10.4% of Fortune 500 CEOs, with 52 women in top positions, up from 41 in 2021.
• In the Russell 3000, 9% of CEOs are women, an increase from 6.2% in 2021, marking a 66% rise.
• Women-owned businesses have grown by 41% year-over-year, outpacing the growth of male-owned businesses by 25%.
• Private companies valued at over $1 billion have seen a 118% increase in women CEO positions since last year.
• Joanna Geraghty became the first woman to lead a major U.S. airline as the CEO of JetBlue.

Although the numbers are improving, women continue to hold a small share of executive leadership positions in the country’s largest corporations.

Women’s Leadership Pipeline: Progress and Gaps

Women’s representation in corporate leadership has improved, but advancement along the corporate ladder remains uneven. While entry-level positions approach gender parity, representation declines at each leadership stage.

• Women hold 48% of entry-level positions, maintaining near-equal representation.
• At the manager level, women make up 40% of employees, reflecting a decline from entry-level roles.
• Senior manager and director positions have 35% female representation, indicating further drop-offs in leadership.
• The percentage of women in vice president roles stands at 32%, showing limited progression.
• Senior vice president roles have 28% female representation, narrowing opportunities for executive advancement.
• Women occupy 26% of C-suite positions, highlighting persistent barriers to top executive roles.

Female CEO Compensation and Tenure

Female CEOs earn higher median salaries than their male counterparts but remain underrepresented in executive roles. While compensation has risen across the board, women still make up a small fraction of corporate leaders and tend to have shorter tenures in top positions.

• In the Russell 3000, female CEOs earned a median of $6.7 million, compared to $6.1 million for male CEOs. Despite this pay gap in favor of women at the median level, they account for only 6.9% of CEOs in the index.
• CEO pay has rebounded across major companies, reflecting stronger shareholder returns and economic resilience. In the S&P 500, median total CEO compensation increased to $15.5 million, up from $14.4 million in 2023. In the Russell 3000, median pay rose to $6.1 million, compared to $5.8 million in the previous year.
• Incentive-based pay has been the primary driver of compensation growth. Performance-related stock awards increased by 7.5% year-over-year in the S&P 500, while the Russell 3000 saw a 9.1% increase. The shift toward long-term equity incentives continues to shape executive compensation structures.
• Stock options remain part of CEO pay, but their prevalence has declined. 40% of S&P 500 CEOs have stock options, making up 9.8% of total pay, down from 18.3% in 2011. In the Russell 3000, fewer than 25% of CEOs receive stock options, representing 10.4% of total compensation, compared to 16% in 2011.
• Perks and benefits have also risen, particularly for top executives. The median value of CEO perks in the S&P 500 reached $237,000, increasing more than 60% since 2011. In the Russell 3000, perks are valued at $50,000, a slight increase from $48,000 in 2011.

Despite earning higher median pay, female CEOs tend to have shorter tenures than their male counterparts. Over a nine-year period, male CEOs held their positions for a median of six years, while female CEOs remained in leadership roles for just four years, according to C-suite research.

The shorter tenure reflects ongoing challenges in retention, career advancement, and leadership stability for women at the executive level.

Women in Leadership: Growth of Women-Owned Businesses

The pandemic served as a catalyst for female leadership, accelerating the growth of women-owned businesses.

These businesses now make up a larger share of the U.S. economy, contributing significantly to employment and revenue across industries.

• There are 14.5 million women-owned businesses, representing 40% of all businesses in the U.S.
• These businesses have a combined annual payroll of $508.5 billion, according to the Census Bureau’s November 2024 report.
• Women-owned firms employ 12.2 million workers and generate $2.7 trillion in revenue, as reported in the 2024 Wells Fargo Impact of Women-Owned Business Report.
• The number of female-owned businesses grew by 11.5% between 2019 and 2024, nearly twice the growth rate of male-owned businesses.

The increasing share of women in business ownership reflects broader trends in entrepreneurship. Women-led startups are also on the rise, with more female founders entering industries that were traditionally male-dominated.

Barriers to Female Leadership in the U.S.

Women continue to face obstacles in reaching executive leadership, and progress toward gender equality remains slow. The leadership pipeline lacks sufficient representation, and structural challenges in workplace policies and opportunities persist.

• According to McKinsey & Company’s Women in the Workplace 2024 report, gender parity in senior leadership is still decades away. At the current pace, it will take 22 years for White women to reach equal representation in executive roles and 48 years for Black women and other women of color.

• The absence of strong gender diversity initiatives is a major factor. In DDI’s Global Leadership Forecast 2023, 20% of companies reported having no diversity, equity, and inclusion (DEI) initiatives, an increase from 15% in 2020.

• Companies with well-developed DEI programs show higher female representation in leadership. On average, these companies have 35% women in leadership roles, compared to only 25% in companies with weak or no DEI programs.

Limited access to equal opportunities in mentorship, career advancement, and executive roles continues to restrict women’s progress. Without stronger commitments to inclusive leadership development, workplace policies, and career growth initiatives, the path to gender parity will remain a slow process.

Bottom Line

While more women are taking on CEO roles and becoming women leaders and entrepreneurs, challenges still remain in closing the gender gap in corporate leadership. Women continue to face obstacles when it comes to moving up the leadership ladder and maintaining long-term positions in top roles.

However, the growth of women-owned businesses shows promising progress. With stronger support, better opportunities, and more inclusive policies, we can expect to see an even greater impact from women in leadership, both in corporate settings and as entrepreneurs.

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