Women in Tech Statistics 2023

Hiring Trends & Retention

Survey results have revealed that 65% of tech recruiters believe bias is an ongoing problem in technical recruitment. Talent retention remains a very serious issue for companies, whereas above 38% of interviewed companies want to invest more in it.

A significant majority of the women in STEM roles working at the federal level were White (66.02%). Comparatively, 14.58% were African American or Black, 9.76% Asian, 6.42% Hispanic or Latina, 0.97% Native American/Alaskan Native and 0.28 % Hawaiian or Pacific Islander heritage, respectively.

Research shows that women are 1.6 times more likely to be laid off than men, stemming from their persistent lack of seniority compared with male colleagues in the sector. 

The tech layoffs in 2022 have been devastating, with the research by the WomenTech Network showing that 69.2% of those laid off were women. This figure is deeply concerning and shows the disproportionate impact of layoffs on women in tech.

The data gathered demonstrates the urgent need to take action to ensure that more equitable opportunities are available for women in tech. We must work together to create more inclusive workplaces, where women can have equal access to job opportunities and resources. In addition, initiatives such as mentorship programs, scholarships and other support systems must be put in place to help women build successful careers in tech.

We must also strive towards creating an environment of tolerance and acceptance, one that celebrates diversity and encourages open dialogue within all levels of our organizations. By working towards these goals, we can ensure that everyone has an equal chance at success in the tech industry.WomenTech network analyzed a sample of 4912 profiles from 54 tech companies.

Tech Layoffs by Gender

Women in Tech Employment Gaps

U.S. Census data demonstrates that female workers have made enormous strides in the STEM workforce, growing from an 8% minority in 1970 to 28% of all STEM employees by 2019. Despite the progress made in 2020, there is still a considerable gender gap in the GAFAM (Google, Apple, Facebook, Amazon and Microsoft) workforce with women making up between 28% and 42%. On average only 31% of the GAFAM employees are female.

As workers progress up the corporate ladder, gender discrepancies in employment become more and more pronounced.
Female representation in tech job applicant pools is highest for junior jobs. It drops for mid-level jobs and then drops again for senior-level jobs. 

While software engineering jobs often have 25% fewer female applicants in their applicant pools between junior and mid-level (4 to 10 years of experience), ERP, UI/UX design, and cross-functional roles exhibit an even greater gender disparity with a drop at the senior level.

Women Working at GAFAM

Women in Tech Retention Gaps

Although the number of women earning STEM degrees has increased, the retention rate for female professionals in this field is unfortunately low. NCSES research found that only 38% of women majoring in computer science were employed to work within the sector compared to 53% men, and 24% with an engineering degree continuing their career path versus 30 % males.

Women employed in Computer Science

Workplace Culture Issues

Women executives prioritize flexibility when contemplating joining or remaining with a company, with 48% citing it as one of the top three considerations in a WomenTech Network survey. Men leaders are slightly less likely to include this factor in their decision-making process, at 34%. Women executives are 1.5 times more likely than their male counterparts to have changed jobs because they desired a workplace that was dedicated to DE&I.

While remote and hybrid work may provide a temporary reprieve from bias, it is far from an adequate substitute for real systemic transformation. On the one hand, women are witnessing fewer microaggressions in virtual spaces; however, this should not be a cause to celebrate. Leaning on remote or hybrid models as a sole solution simply won't suffice.

WomenTech Network survey further reveals that women often experience microaggressions at work. About 64% of respondents have been spoken over during meetings, 19% have felt pigeonholed by stereotypes in various situations, and 11% have been asked to “supply the food” during meetings. Amongst other frequent microaggressions, gendered language and taking meeting minutes were referred to as “the usual” from many of the survey participants. 

Microaggressions for women in tech

Pay Gaps for Women in Tech

It is undeniably true that men in STEM professions experience higher annual salaries than women - a difference of nearly $15,000 every year ($85,000 for males versus just $60,828 for females). This disparity is even more pronounced among Latina and Black women who are typically earning only around $52,000 per annum. 

A study in the US showed that there was a gender wage gap of 1.6%. It also demonstrated that while women were paid less than men when working remotely, they seemed pleased to settle for $0.95 for every dollar their male colleagues requested as wages. 

It also found that racial prejudice is a significant factor in the wage gap between female workers of color and white men, with Hispanic women and African-Americans expecting to make only $0.91 for every dollar their counterparts receive.

A study from 2021 foresees that it will take an astonishing 268 years to eradicate the financial gender gap, as reported by the World Economic Forum.

Leadership Position Gaps for Women in Tech

Women face a major roadblock when it comes to attaining senior leadership—their first step up from entry-level. The numbers are shocking; for every 100 men promoted to manager, only 87 women and 82 women of color get the same promotion. This leaves far fewer female candidates available for higher-level positions down the line, making it nearly impossible for them to ever catch up in terms of representation within these roles.
Two-thirds of young women desire to further their careers if they see successful professionals with the desired work-life balance. This would help them recognize and strive for achievable goals, enabling them to move up the corporate ladder.

Venture Capital Funding for Women-led Startups

Women-led startups are having a daunting time obtaining venture capital funding, with only 2.3% of investment in 2020 going towards them. It's been proposed that female founders will experience more success if they approach investors who are also women - and it appears to be true since research shows that female VCs are twice as likely than male counterparts when providing money for businesses owned by women.
Recent studies, however, suggest that even though female-led startups may be more likely to secure funding from women investors, these investments also bring with them the idea of preferential treatment due to gender. This then leads to further complications for female founders when seeking additional investment down the line. In other words, obtaining early funds from a woman investor could potentially make it harder in the long run for an entrepreneur to receive financing elsewhere.

2.3% of women-led startups get funding

How to Create a Future for Women in Technology

Through an in-depth assessment of the latest HR and DEI standards, we have identified three distinct groups of measures to promote and maintain women's progress:

Over three-fourths of companies have already adopted table stakes, which are necessary but not sufficient to make tangible progress.
Companies with a greater representation of female and minority women are more likely to adopt best practices than those that settle for baseline standards.
Despite only being implemented by a fraction of companies, emerging practices have demonstrated remarkable results.

To expedite the progression towards gender equality in our society, it is imperative that organizations examine and embrace more emerging and leading strategies and establish new standards within their own operations.