Women around the world do extremely well when it comes to their education. They graduate at higher rates than men and have higher average GPAs. But then a strange thing happens: upon entering the workforce, they immediately lose their advantage. When the first promotions come around, the slide continues. For every 100 men promoted to manager, only 81 women overall and 77 women of color get promoted.
This is what McKinsey senior partners Kweilin Ellingrud, Lareina Yee, and María del Mar Martínez call "the broken rung," and its effects compound throughout women's careers. In this groundbreaking book, the authors reveal the problem's underlying cause: while about half of a person's lifetime earnings come from education and half from work experience, men get more value from their experience than women do. It is also here, in one's work experience, that the solution lies: women need to build their "experience capital" to level the playing field and maximize their earning potential.
The book combines over a decade of research, personal conversations with more than fifty remarkable leaders, and the authors' own rich experiences as leaders at McKinsey. They weave data on the potential pitfalls with inspiring and instructive stories of women who have climbed over the broken rung using strategies that increased their experience capital.
