Women in Business 2025: Impacting the Missed Generation

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Over 25 years of missed opportunities

Our latest Women in Business report reveals the pace towards parity in mid-market firms isn’t moving fast enough. A young woman starting her career today will be working for more than a quarter of a century before she can expect to work at a mid-market firm with gender parity in top senior roles. Our research explores how gender balanced teams can bring better business performance – and with small and mid-market firms making up the largest part of the global economy, now is the time to keep up the pressure.

Avoid another missed generation [ 22666 kb ]

KEY INSIGHTS

Women in leadership

Although some economies are close to reaching parity in senior leadership positions, the global rate of change is concerningly slow – advancing at a rate that would raise concerns if discussing the rate of economic growth. And yet both scenarios have similar, far-reaching consequences for the global economy.

The regional picture over time

Percentage of senior leadership roles held by women, shown by region and country over the last 21 years

List view

Pause movement

Source: Grant Thornton International Business Report (IBR) research into the views and expectations of senior leaders within the mid-market for 21 years

				% women in senior management
Country Name	Country Code	X Coordinate	Y Coordinate	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2009	2007	2004
Global	GL	92.5	118	34.0%	33.5%	32.4%	31.9%	31.2%	28.7%	28.8%	24.1%	24.5%	23.5%	22.3%	24.0%	24.2%	20.9%	20.2%	23.9%	24.1%	19.4%
Argentina	AR	27	11	34.9%	30.8%	29.4%	30.5%	30.8%	23.6%	19.8%	22.9%	15.0%	17.6%	15.7%	25.0%	18.1%	19.5%	18.3%	17.4%
Australia	AU	92	15	36.5%	39.6%	39.5%	32.0%	32.4%	28.4%	41.9%	15.1%	23.3%	22.9%	22.0%	22.0%	22.5%	24.2%	27.1%	23.0%	21.9%	22.1%
Brazil	BR	28.5	24.6	36.7%	37.1%	38.6%	37.8%	39.0%	34.4%	25.4%	29.5%	18.7%	18.5%	15.2%	22.0%	23.1%	26.5%	23.7%	28.7%	42.0%
Canada	CA	16	70	34.7%	35.5%	38.6%	30.4%	35.6%	32.0%	28.4%	25.0%	23.4%	26.4%	25.1%	23.0%	26.6%	25.1%	27.8%	27.9%	18.6%	22.4%
China	CN	80	48	35.3%	32.6%	35.4%	32.3%	28.6%	31.4%	28.3%	30.9%	31.3%	29.8%	24.7%	38.0%	39.0%	25.2%	33.8%	31.4%	31.9%
Egypt	EG	57.1	37.7	30.3%
France	FR	46	53	37.7%	37.9%	34.8%	31.1%	32.9%	27.9%	18.5%	32.8%	30.9%	28.0%	32.6%	24.0%	25.7%	23.8%	21.2%	17.8%	21.2%	20.7%
Germany	DE	52	56	30.1%	30.6%	29.9%	34.9%	38.2%	29.8%	35.5%	23.2%	18.4%	15.2%	14.0%	14.0%	31.3%	12.9%	11.4%	17.4%	11.6%	16.3%
Greece	GR	54.7	46.3	30.7%	31.6%	36.8%	28.3%	32.6%	24.5%	21.8%	26.0%	19.8%	26.7%	27.0%	29.0%	29.5%	21.3%	29.9%	23.0%	20.6%	22.0%
India	IN	72	36	36.5%	33.9%	36.0%	38.0%	39.1%	29.9%	28.2%	19.8%	16.9%	16.2%	15.2%	14.0%	18.9%	14.5%	9.2%	15.4%	13.9%	11.7%
Indonesia	ID	91	28	36.3%	37.4%	38.7%	38.1%	37.7%	36.6%	31.9%	42.6%	45.6%	36.2%	20.2%	41.0%
Ireland	IE	41	57	36.5%	36.0%	40.3%	30.5%	32.8%	31.1%	34.9%	31.8%	26.0%	19.1%	24.4%	23.0%	21.2%	21.3%	19.4%	21.5%	21.0%	15.6%
Italy	IT	49.7	46.3	34.8%	35.7%	34.0%	29.9%	29.0%	27.6%	24.3%	33.9%	26.9%	29.0%	26.1%	30.0%	23.8%	36.0%	21.6%	21.0%	14.3%	18.2%
Japan	JP	90	50	18.4%	19.5%	15.9%	14.9%	14.7%	12.1%	15.4%	5.4%	7.1%	7.3%	7.8%	9.0%	7.4%	5.3%	8.1%	6.6%	6.6%	7.6%
Kenya	KE	59.7	29.2	37.9%
Malaysia	MY	79.6	28	36.2%	39.6%	40.4%	40.1%	36.9%	33.4%	22.7%	27.9%	24.2%	26.5%	22.4%	25.0%	25.8%	28.3%	31.3%	31.3%	23.0%
Mexico	MX	14	37	38.9%	36.2%	38.0%	32.6%	35.0%	36.9%	25.5%	33.9%	23.9%	18.2%	22.5%	28.0%	22.8%	18.3%	18.5%	30.9%	20.4%	26.6%
Morocco	MA	45.7	40.9	34.2%
Nigeria	NG	48	30	34.0%	40.6%	38.7%	37.7%	35.7%	36.2%	38.5%	30.1%	29.3%	28.8%	20.5%
Philippines	PH	87.8	35.8	43.0%	43.1%	48.8%	39.2%	48.0%	42.9%	37.5%	46.6%	39.5%	39.0%		40.0%	37.1%	38.6%	34.8%	47.5%	50.3%	39.4%
Singapore	SG	84.5	28	36.3%	31.3%	49.3%	33.8%	32.8%	30.7%	33.0%	29.7%	29.8%	25.8%	22.9%	23.0%	27.4%	23.1%	29.9%	27.9%	20.8%	23.0%
South Africa	ZA	53	13	47.2%	42.0%	41.0%	42.5%	43.4%	40.1%	24.2%	29.0%	28.2%	22.7%	27.3%	26.0%	28.2%	28.1%	27.4%	27.9%	29.3%	26.5%
South Korea	KR	94	62	21.7%	19.6%	23.5%	21.1%	18.3%	16.5%	29.9%
Spain	ES	42	47.2	40.4%	40.3%	37.6%	35.9%	33.5%	33.8%	29.7%	27.2%	27.2%	25.8%	25.6%	22.0%	21.4%	24.1%	22.2%	20.6%	17.3%	14.1%
Sweden	SE	51	68	35.3%	34.3%	30.5%	32.0%	30.1%	26.9%	21.6%	29.5%	28.5%	25.8%	28.0%	26.0%	26.8%	22.9%	26.7%	21.5%	22.5%	17.7%
Thailand	TH	79.7	37.8	43.1%	41.0%	36.6%	38.0%	34.2%	33.5%	19.4%	42.1%	31.4%	37.1%	27.2%	38.0%	35.8%	39.3%	45.0%	37.8%	39.2%
Turkey	TR	59.6	46.2	41.3%	41.0%	36.9%	40.3%	34.9%	35.9%	33.9%	27.2%	23.2%	20.5%	25.7%	25.0%	30.0%	31.0%	25.0%	28.7%	17.2%	20.4%
United Arab Emirates	AE	62.9	39	26.1%	22.9%	27.1%	27.5%	26.3%	22.7%	24.2%
United Kingdom	GB	45	62.6	36.3%	33.5%	32.5%	32.3%	33.5%	29.3%	25.6%	22.5%	18.7%	21.0%	22.2%	20.0%	19.0%	20.2%	23.1%	20.7%	19.3%	17.6%
United States	US	12	55	34.0%	34.8%	30.8%	33.3%	32.3%	28.3%	31.1%	21.2%	22.7%	23.2%	21.1%	22.0%	20.3%	16.9%	15.0%	20.3%	23.3%	19.8%
Vietnam	VN	84.8	44	37.4%	33.4%	33.5%	33.3%	38.9%	32.9%	36.9%

21 years of progress

Global percentage senior management roles held by women

2007 Global financial crisis
2015 Eurozone debt crisis
2018 #MeToo went viral for survivors across the world
2020 Global pandemic

Source: Grant Thornton International Business Report (IBR) research into the views and expectations of senior leaders within the mid-market for 21 years

				% women in senior management
Country Name	Country Code	X Coordinate	Y Coordinate	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2009	2007	2004
Global	GL	92.5	118	34.0%	33.5%	32.4%	31.9%	31.2%	28.7%	28.8%	24.1%	24.5%	23.5%	22.3%	24.0%	24.2%	20.9%	20.2%	23.9%	24.1%	19.4%
Argentina	AR	27	11	34.9%	30.8%	29.4%	30.5%	30.8%	23.6%	19.8%	22.9%	15.0%	17.6%	15.7%	25.0%	18.1%	19.5%	18.3%	17.4%
Australia	AU	92	15	36.5%	39.6%	39.5%	32.0%	32.4%	28.4%	41.9%	15.1%	23.3%	22.9%	22.0%	22.0%	22.5%	24.2%	27.1%	23.0%	21.9%	22.1%
Brazil	BR	28.5	24.6	36.7%	37.1%	38.6%	37.8%	39.0%	34.4%	25.4%	29.5%	18.7%	18.5%	15.2%	22.0%	23.1%	26.5%	23.7%	28.7%	42.0%
Canada	CA	16	70	34.7%	35.5%	38.6%	30.4%	35.6%	32.0%	28.4%	25.0%	23.4%	26.4%	25.1%	23.0%	26.6%	25.1%	27.8%	27.9%	18.6%	22.4%
China	CN	80	48	35.3%	32.6%	35.4%	32.3%	28.6%	31.4%	28.3%	30.9%	31.3%	29.8%	24.7%	38.0%	39.0%	25.2%	33.8%	31.4%	31.9%
Egypt	EG	57.1	37.7	30.3%
France	FR	46	53	37.7%	37.9%	34.8%	31.1%	32.9%	27.9%	18.5%	32.8%	30.9%	28.0%	32.6%	24.0%	25.7%	23.8%	21.2%	17.8%	21.2%	20.7%
Germany	DE	52	56	30.1%	30.6%	29.9%	34.9%	38.2%	29.8%	35.5%	23.2%	18.4%	15.2%	14.0%	14.0%	31.3%	12.9%	11.4%	17.4%	11.6%	16.3%
Greece	GR	54.7	46.3	30.7%	31.6%	36.8%	28.3%	32.6%	24.5%	21.8%	26.0%	19.8%	26.7%	27.0%	29.0%	29.5%	21.3%	29.9%	23.0%	20.6%	22.0%
India	IN	72	36	36.5%	33.9%	36.0%	38.0%	39.1%	29.9%	28.2%	19.8%	16.9%	16.2%	15.2%	14.0%	18.9%	14.5%	9.2%	15.4%	13.9%	11.7%
Indonesia	ID	91	28	36.3%	37.4%	38.7%	38.1%	37.7%	36.6%	31.9%	42.6%	45.6%	36.2%	20.2%	41.0%
Ireland	IE	41	57	36.5%	36.0%	40.3%	30.5%	32.8%	31.1%	34.9%	31.8%	26.0%	19.1%	24.4%	23.0%	21.2%	21.3%	19.4%	21.5%	21.0%	15.6%
Italy	IT	49.7	46.3	34.8%	35.7%	34.0%	29.9%	29.0%	27.6%	24.3%	33.9%	26.9%	29.0%	26.1%	30.0%	23.8%	36.0%	21.6%	21.0%	14.3%	18.2%
Japan	JP	90	50	18.4%	19.5%	15.9%	14.9%	14.7%	12.1%	15.4%	5.4%	7.1%	7.3%	7.8%	9.0%	7.4%	5.3%	8.1%	6.6%	6.6%	7.6%
Kenya	KE	59.7	29.2	37.9%
Malaysia	MY	79.6	28	36.2%	39.6%	40.4%	40.1%	36.9%	33.4%	22.7%	27.9%	24.2%	26.5%	22.4%	25.0%	25.8%	28.3%	31.3%	31.3%	23.0%
Mexico	MX	14	37	38.9%	36.2%	38.0%	32.6%	35.0%	36.9%	25.5%	33.9%	23.9%	18.2%	22.5%	28.0%	22.8%	18.3%	18.5%	30.9%	20.4%	26.6%
Morocco	MA	45.7	40.9	34.2%
Nigeria	NG	48	30	34.0%	40.6%	38.7%	37.7%	35.7%	36.2%	38.5%	30.1%	29.3%	28.8%	20.5%
Philippines	PH	87.8	35.8	43.0%	43.1%	48.8%	39.2%	48.0%	42.9%	37.5%	46.6%	39.5%	39.0%		40.0%	37.1%	38.6%	34.8%	47.5%	50.3%	39.4%
Singapore	SG	84.5	28	36.3%	31.3%	49.3%	33.8%	32.8%	30.7%	33.0%	29.7%	29.8%	25.8%	22.9%	23.0%	27.4%	23.1%	29.9%	27.9%	20.8%	23.0%
South Africa	ZA	53	13	47.2%	42.0%	41.0%	42.5%	43.4%	40.1%	24.2%	29.0%	28.2%	22.7%	27.3%	26.0%	28.2%	28.1%	27.4%	27.9%	29.3%	26.5%
South Korea	KR	94	62	21.7%	19.6%	23.5%	21.1%	18.3%	16.5%	29.9%
Spain	ES	42	47.2	40.4%	40.3%	37.6%	35.9%	33.5%	33.8%	29.7%	27.2%	27.2%	25.8%	25.6%	22.0%	21.4%	24.1%	22.2%	20.6%	17.3%	14.1%
Sweden	SE	51	68	35.3%	34.3%	30.5%	32.0%	30.1%	26.9%	21.6%	29.5%	28.5%	25.8%	28.0%	26.0%	26.8%	22.9%	26.7%	21.5%	22.5%	17.7%
Thailand	TH	79.7	37.8	43.1%	41.0%	36.6%	38.0%	34.2%	33.5%	19.4%	42.1%	31.4%	37.1%	27.2%	38.0%	35.8%	39.3%	45.0%	37.8%	39.2%
Turkey	TR	59.6	46.2	41.3%	41.0%	36.9%	40.3%	34.9%	35.9%	33.9%	27.2%	23.2%	20.5%	25.7%	25.0%	30.0%	31.0%	25.0%	28.7%	17.2%	20.4%
United Arab Emirates	AE	62.9	39	26.1%	22.9%	27.1%	27.5%	26.3%	22.7%	24.2%
United Kingdom	GB	45	62.6	36.3%	33.5%	32.5%	32.3%	33.5%	29.3%	25.6%	22.5%	18.7%	21.0%	22.2%	20.0%	19.0%	20.2%	23.1%	20.7%	19.3%	17.6%
United States	US	12	55	34.0%	34.8%	30.8%	33.3%	32.3%	28.3%	31.1%	21.2%	22.7%	23.2%	21.1%	22.0%	20.3%	16.9%	15.0%	20.3%	23.3%	19.8%
Vietnam	VN	84.8	44	37.4%	33.4%	33.5%	33.3%	38.9%	32.9%	36.9%

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Women in Business 2025