For 21 years, we’ve tracked the ratio of women occupying senior management roles in mid-market firms around the world. In the last five years, we’ve seen sustained growth on this key measure, but the rate of change is still too slow.
At the current pace, a woman starting her career today will be working for more than a quarter of a century before she can expect to work at a mid-market firm with gender parity in top roles. With small and mid-market firms responsible for generating two-thirds of the world's jobs, there’s a growing push for these businesses to accelerate action.
This year's report shares crucial insights and strategies to help mid-market firms make a real impact on parity.
| % women in senior management | |||||||||||||||||||||
| Country Name | Country Code | X Coordinate | Y Coordinate | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2009 | 2007 | 2004 |
| Global | GL | 92.5 | 118 | 34.0% | 33.5% | 32.4% | 31.9% | 31.2% | 28.7% | 28.8% | 24.1% | 24.5% | 23.5% | 22.3% | 24.0% | 24.2% | 20.9% | 20.2% | 23.9% | 24.1% | 19.4% |
| Argentina | AR | 27 | 11 | 34.9% | 30.8% | 29.4% | 30.5% | 30.8% | 23.6% | 19.8% | 22.9% | 15.0% | 17.6% | 15.7% | 25.0% | 18.1% | 19.5% | 18.3% | 17.4% | ||
| Australia | AU | 92 | 15 | 36.5% | 39.6% | 39.5% | 32.0% | 32.4% | 28.4% | 41.9% | 15.1% | 23.3% | 22.9% | 22.0% | 22.0% | 22.5% | 24.2% | 27.1% | 23.0% | 21.9% | 22.1% |
| Brazil | BR | 28.5 | 24.6 | 36.7% | 37.1% | 38.6% | 37.8% | 39.0% | 34.4% | 25.4% | 29.5% | 18.7% | 18.5% | 15.2% | 22.0% | 23.1% | 26.5% | 23.7% | 28.7% | 42.0% | |
| Canada | CA | 16 | 70 | 34.7% | 35.5% | 38.6% | 30.4% | 35.6% | 32.0% | 28.4% | 25.0% | 23.4% | 26.4% | 25.1% | 23.0% | 26.6% | 25.1% | 27.8% | 27.9% | 18.6% | 22.4% |
| China | CN | 80 | 48 | 35.3% | 32.6% | 35.4% | 32.3% | 28.6% | 31.4% | 28.3% | 30.9% | 31.3% | 29.8% | 24.7% | 38.0% | 39.0% | 25.2% | 33.8% | 31.4% | 31.9% | |
| Egypt | EG | 57.1 | 37.7 | 30.3% | |||||||||||||||||
| France | FR | 46 | 53 | 37.7% | 37.9% | 34.8% | 31.1% | 32.9% | 27.9% | 18.5% | 32.8% | 30.9% | 28.0% | 32.6% | 24.0% | 25.7% | 23.8% | 21.2% | 17.8% | 21.2% | 20.7% |
| Germany | DE | 52 | 56 | 30.1% | 30.6% | 29.9% | 34.9% | 38.2% | 29.8% | 35.5% | 23.2% | 18.4% | 15.2% | 14.0% | 14.0% | 31.3% | 12.9% | 11.4% | 17.4% | 11.6% | 16.3% |
| Greece | GR | 54.7 | 46.3 | 30.7% | 31.6% | 36.8% | 28.3% | 32.6% | 24.5% | 21.8% | 26.0% | 19.8% | 26.7% | 27.0% | 29.0% | 29.5% | 21.3% | 29.9% | 23.0% | 20.6% | 22.0% |
| India | IN | 72 | 36 | 36.5% | 33.9% | 36.0% | 38.0% | 39.1% | 29.9% | 28.2% | 19.8% | 16.9% | 16.2% | 15.2% | 14.0% | 18.9% | 14.5% | 9.2% | 15.4% | 13.9% | 11.7% |
| Indonesia | ID | 91 | 28 | 36.3% | 37.4% | 38.7% | 38.1% | 37.7% | 36.6% | 31.9% | 42.6% | 45.6% | 36.2% | 20.2% | 41.0% | ||||||
| Ireland | IE | 41 | 57 | 36.5% | 36.0% | 40.3% | 30.5% | 32.8% | 31.1% | 34.9% | 31.8% | 26.0% | 19.1% | 24.4% | 23.0% | 21.2% | 21.3% | 19.4% | 21.5% | 21.0% | 15.6% |
| Italy | IT | 49.7 | 46.3 | 34.8% | 35.7% | 34.0% | 29.9% | 29.0% | 27.6% | 24.3% | 33.9% | 26.9% | 29.0% | 26.1% | 30.0% | 23.8% | 36.0% | 21.6% | 21.0% | 14.3% | 18.2% |
| Japan | JP | 90 | 50 | 18.4% | 19.5% | 15.9% | 14.9% | 14.7% | 12.1% | 15.4% | 5.4% | 7.1% | 7.3% | 7.8% | 9.0% | 7.4% | 5.3% | 8.1% | 6.6% | 6.6% | 7.6% |
| Kenya | KE | 59.7 | 29.2 | 37.9% | |||||||||||||||||
| Malaysia | MY | 79.6 | 28 | 36.2% | 39.6% | 40.4% | 40.1% | 36.9% | 33.4% | 22.7% | 27.9% | 24.2% | 26.5% | 22.4% | 25.0% | 25.8% | 28.3% | 31.3% | 31.3% | 23.0% | |
| Mexico | MX | 14 | 37 | 38.9% | 36.2% | 38.0% | 32.6% | 35.0% | 36.9% | 25.5% | 33.9% | 23.9% | 18.2% | 22.5% | 28.0% | 22.8% | 18.3% | 18.5% | 30.9% | 20.4% | 26.6% |
| Morocco | MA | 45.7 | 40.9 | 34.2% | |||||||||||||||||
| Nigeria | NG | 48 | 30 | 34.0% | 40.6% | 38.7% | 37.7% | 35.7% | 36.2% | 38.5% | 30.1% | 29.3% | 28.8% | 20.5% | |||||||
| Philippines | PH | 87.8 | 35.8 | 43.0% | 43.1% | 48.8% | 39.2% | 48.0% | 42.9% | 37.5% | 46.6% | 39.5% | 39.0% | 40.0% | 37.1% | 38.6% | 34.8% | 47.5% | 50.3% | 39.4% | |
| Singapore | SG | 84.5 | 28 | 36.3% | 31.3% | 49.3% | 33.8% | 32.8% | 30.7% | 33.0% | 29.7% | 29.8% | 25.8% | 22.9% | 23.0% | 27.4% | 23.1% | 29.9% | 27.9% | 20.8% | 23.0% |
| South Africa | ZA | 53 | 13 | 47.2% | 42.0% | 41.0% | 42.5% | 43.4% | 40.1% | 24.2% | 29.0% | 28.2% | 22.7% | 27.3% | 26.0% | 28.2% | 28.1% | 27.4% | 27.9% | 29.3% | 26.5% |
| South Korea | KR | 94 | 62 | 21.7% | 19.6% | 23.5% | 21.1% | 18.3% | 16.5% | 29.9% | |||||||||||
| Spain | ES | 42 | 47.2 | 40.4% | 40.3% | 37.6% | 35.9% | 33.5% | 33.8% | 29.7% | 27.2% | 27.2% | 25.8% | 25.6% | 22.0% | 21.4% | 24.1% | 22.2% | 20.6% | 17.3% | 14.1% |
| Sweden | SE | 51 | 68 | 35.3% | 34.3% | 30.5% | 32.0% | 30.1% | 26.9% | 21.6% | 29.5% | 28.5% | 25.8% | 28.0% | 26.0% | 26.8% | 22.9% | 26.7% | 21.5% | 22.5% | 17.7% |
| Thailand | TH | 79.7 | 37.8 | 43.1% | 41.0% | 36.6% | 38.0% | 34.2% | 33.5% | 19.4% | 42.1% | 31.4% | 37.1% | 27.2% | 38.0% | 35.8% | 39.3% | 45.0% | 37.8% | 39.2% | |
| Turkey | TR | 59.6 | 46.2 | 41.3% | 41.0% | 36.9% | 40.3% | 34.9% | 35.9% | 33.9% | 27.2% | 23.2% | 20.5% | 25.7% | 25.0% | 30.0% | 31.0% | 25.0% | 28.7% | 17.2% | 20.4% |
| United Arab Emirates | AE | 62.9 | 39 | 26.1% | 22.9% | 27.1% | 27.5% | 26.3% | 22.7% | 24.2% | |||||||||||
| United Kingdom | GB | 45 | 62.6 | 36.3% | 33.5% | 32.5% | 32.3% | 33.5% | 29.3% | 25.6% | 22.5% | 18.7% | 21.0% | 22.2% | 20.0% | 19.0% | 20.2% | 23.1% | 20.7% | 19.3% | 17.6% |
| United States | US | 12 | 55 | 34.0% | 34.8% | 30.8% | 33.3% | 32.3% | 28.3% | 31.1% | 21.2% | 22.7% | 23.2% | 21.1% | 22.0% | 20.3% | 16.9% | 15.0% | 20.3% | 23.3% | 19.8% |
| Vietnam | VN | 84.8 | 44 | 37.4% | 33.4% | 33.5% | 33.3% | 38.9% | 32.9% | 36.9% | |||||||||||
The number of women in senior management positions has risen to 36.3%, increasing by 2.8pp since 2024 – and placing the UK ahead of the global average.
Only 1.7% of businesses now have no women in senior management roles, a 2.5pp reduction since 2024.
45% of businesses have increased the number of women in their senior management teams. 0.7% have decreased.
External pressure has been key to spurring momentum on gender diversity over the last 12 months. 77.6% of global mid-market businesses have received requests from clients, investors, regulators, or other external entities to show the gender balance of their senior management team, or commitment to gender diversity initiatives.
Promisingly, over half (56.3%) of businesses that have experienced this kind of pressure report an increase in the proportion of women in their senior management positions.
UK business leaders often focus on improving gender equality in recruitment (47.4%) and increasing the representation of women in senior leadership positions (43.4%). These efforts are paying off, as 46.4% of businesses with these targets now have more women in senior management roles.
Additionally, nearly half of UK businesses have set a gender equality strategy for employee pay, likely in response to government pressure in this area. While this is positive, if we want to reach parity before 2051, more businesses need to act.
Aside from making their business more attractive to clients, investors, and regulators, UK mid-market leaders identified other positive impacts of their gender equality strategies:
Nearly a quarter of global business leaders say equality initiatives have made them more innovative, too. Given most businesses are expecting to increase investment in research and development over the next 12 months (Grant Thornton International Business Report), it’s crucial to have the right people on board to drive innovation.
Capturing and measuring all the business benefits on the bottom line is complex, but crucial to building sustainable, long-term commitment to gender diversity.
Explore three actions mid-market businesses can take today to drive momentum.
