Reaching the top isn’t enough if the path remains blocked for everyone else. This effectively describes the reality for women at the top of U.S. economic power structures. In 2025, for the first time, the number of female CEOs among Fortune 500 companies, the prestigious ranking published by the magazine of the same name, reached a record high: 55 women in charge, accounting for 11% of the total. It’s a symbolic milestone that breaks the 10% threshold, but one that raises an inevitable question: is this truly substantial progress?
On the surface, the growth appears encouraging. Prominent figures like Mary Barra (General Motors), Jane Fraser (Citigroup), and Lisa Su (AMD) lead global giants, embodying a new generation of female leadership. However, the broader context tells a different story. The figure remains disproportionate when compared to the female share of the U.S. workforce, where women represent about 47%, and also to their increasing dominance in higher education levels. Women in the U.S. now outnumber men among college graduates as well as holders of master’s and doctoral degrees.
Moreover, a large part of the recent female CEO appointments has come through internal promotions. This detail, seemingly minor, actually reveals how difficult it still is for women to access power from outside the company. The job market continues to operate on dynamics that penalize female leadership, especially in external recruitment and fast-tracked paths to executive roles.
Contradictory signs abound. On one hand, nine new women reached CEO positions in 2025; on the other, six companies including CVS Health and Duke Energy replaced theirs with men. This suggests that progress is anything but linear.
Jennifer McCollum, President and Chief Executive of Catalyst, an international organization promoting workplace gender equity, told Fortune that the current retreat from diversity, equity, and inclusion policies is a concrete threat to recent progress. The advances made risk being slowed, or even reversed, by a corporate culture that no longer treats gender equality as a strategic priority.
Leadership is just one side of the coin. The other, perhaps even more concerning, is the gender pay gap. On average, women still earn less than men across nearly all sectors and career levels. In the U.S., the average salary of a woman is still only about 82% of that of a man, even when roles and qualifications are equal. The gap widens even further for Black and Hispanic women.
Even at executive levels, disparities persist. According to data from the Bureau of Labor Statistics, the U.S. federal statistics agency, female executives earn on average 75–80% of what their male counterparts do, even when holding similar roles in comparable companies. The so-called “gender pay gap” also creeps into benefits, bonuses, and stock option components that are increasingly important in overall compensation.
It’s clear that the path to equality is far from over. The milestone just reached is symbolic at best and should be viewed cautiously as a sign of change, rather than proof of a fair system. The real issue remains structural: a lack of mentors and sponsors, and a shortage of policies that support work-life balance.
Yet, solutions do exist. Experts emphasize the importance of transparent representation targets, inclusive training programs, and systematic reviews of promotion and pay practices. Equality will not happen on its own, it must be built through awareness and accountability.
