Key Stats

In Massachusetts, Women and people of color represent 51.5% and nearly 30%, respectively, of the state’s population. We undertook this research to understand the gender and racial representation among the 25 largest companies in the state, a proxy for corporations across the Commonwealth.

Key findings:

  • The corporate ladder appears to be broken at the top rung for both women and people of color. While women account for 25% of executive teams, from which CEOs are chosen, they only comprise 10% of highest paid executives and 4% of CEOs.
  • Women of color are grossly underrepresented on both boards and within executive management, holding only 6% of boards seats and 3% of executive leadership positions.
  • Progress has been made on corporate boards where women count 31% of seats, demonstrating that focus and intentionality yield results.

The data also show:

  • 1 company – Bright Horizons – has reached gender parity across all leadership levels, demonstrating that gender parity is possible now!
  • 5 companies have women Lead Independent Directors (LIDs) – American Tower, Bright Horizons, Hologic, Skyworks, and State Street.
  • 3 companies have reached gender parity among their executive leadership teams – Alexion, Alnylam, and Bright Horizons; Alnylam has also reached fair representation of women of color for this group
  • Insulet is the only company among the 25 with a female CEO.
  • Alnylam is the only company to have reached fair representation of women of color (15+%) on its executive leadership team.
  • 80% of top companies score as “unsatisfactory” or “need urgent attention,” requiring significant change to achieve gender parity, according to the report.
  • Women of color are grossly underrepresented across the board, especially among the CEOs and LIDs, and they comprise only 1% of highest paid executives (HPEs), 3% of the executive leadership teams, and 6% of board members.
  • 14 companies do not have a single woman among their highest paid executives – Akamai, American Tower, Analog Devices, Boston Properties, Boston Scientific, Eversource, Keurig Dr Pepper, PerkinElmer, Raytheon, Skyworks, Teradyne, Thermo Fisher, Vertex, and Wayfair.

 

Read more in the Women’s Power Gap in Corporate Massachusetts 2020 Study and Rankings. See how these companies stack up to each other by using our interactive tool to sort through them.