Why Women Leave the "Fast Lane"

Harvard Business Review featured an interesting article on what keeps talented women on the road to success in its March 2005 issue. In a survey of highly qualified professionals, these statistics emerged:
Top five reasons women leave the fast lane:

• Family time – 44%
• Earn a degree, other training – 23%
• Work not enjoyable/satisfying – 17%
• Moved away – 17%
• Change careers – 16%
  

Top five reasons men leave the fast lane:

• Change careers – 29%
• Earn a degree, other training – 25%
• Work not enjoyable/satisfying – 24%
• Not interested in field – 18%
• Family time – 12%
  

Though the average amount of time that women take off from their careers is surprisingly short (less than three years), the salary penalty for doing so is severe. Women who return to the workforce after time out earn significantly less than their peers who remained in their jobs.

Salary Implications for Time Out:

• Salary of those who took no time out – 100% earning potential
• Salary of those who took less than one year out – 89% (or an 11% reduction)
• Salary of those who took three years or more out – 63% (or a 37% reduction)

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