When Germany announced in 2015 that it would be introducing a law enshrining a 30 percent minimum quota of women on the boards of big listed companies, the country’s glass ceiling wobbled.
But since the law was enacted in 2016, it seems it’s been as rock solid as ever. According to a new study by the Berlin-based German Institute for Economic Research (DIW), the country still lags behind other top economies when it comes to supporting female entrepreneurs – especially in the financial sector.
The institute analyzed the proportion of women in management and non-executive supervisory boards between 2006 and 2017 and came up with what it called a Female Managers Barometer. Handelsblatt has obtained exclusive excerpts.
The study shows that there’s been virtually no progress. “The 10-percent level still hasn’t been cracked in the financial sector — or put differently, men still occupy more than 90 percent of management board seats,” wrote the authors.