World of Work Outlook for Women in 2024 | 5
McKinsey's 2023 Women in the Workplace research found
growing ambition among women at every level of the
workforce. Roughly 80% of women want to be promoted
to the next level, compared with 70% in 2019. Women of
color and younger women are especially ambitious in their
careers. Today, 88% of women of color desire a promotion to
the next level. Nine in 10 women under the age of 30 want to
be promoted, and 3 in 4 aspire to become senior leaders.
Global and Regional Insights
Women have long been considered an underrepresented
minority group in the workforce. In 2023, the situation looked
dramatically different, and it started with the economy.
In May, the kickoff of Beyonce's Renaissance tour led to a rise
in inflation in Sweden, as attendees scrambled for housing
and food. A single lyric in Taylor Swift's song, "You're on Your
Own, Kid," encouraged fans to make friendship bracelets for
The Eras Tour, which sent bead sales skyrocketing by 500%
in some cities. According to economists at Duke University,
the total economic impact of Swift's tour is an astonishing $75
billion — by far the most profitable in music history.
The workforce is experiencing changes, too, albeit more
subtle ones. In 2023, Pew Research found that, among U.S.
workers ages 25 to 64, 49% of women have a four-year
college degree, compared to 41% of men. Women now make
up 47% of employed U.S. adults ages 25 to 64, up from
44% in 1987 and 33% in 1964. Global importance is also
growing, with women now representing more than 46% of the
workforce in Europe and nearly 40% worldwide.
The Global State of Women at Work
49% of U.S. women have a four-year college degree
compared with 41% of men.
women men
49% 41%
Source: Pew Research
02 The Global State of Women at Work
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