The numbers come first. Women hold nearly half of America’s workforce, yet they hold just 31% of senior leadership positions.
The gap is even wider at the capital table. Of roughly $265 billion in U.S. venture capital invested in 2025, just 1.2% went to companies with all-female founding teams. Women also hold nearly half of entry-level jobs in America and earn nearly 60% of bachelor’s degrees, but participation has not translated into equal power.
That is the core tension in the commentary by Jennifer Openshaw, who writes that Gloria Steinem’s generation opened doors that had been closed for decades. Openshaw says the next challenge is helping the next generation walk through them with confidence and into leadership.
Her piece centers on one example: David Grinberg’s 22-year-old daughter, Ily, who started her career in wealth management in Chicago this summer. Grinberg, an M&A attorney at Sidley Austin, noticed she was usually the only woman in the room. When she was asked to present part of a proposed wealth plan to a real client, he said she nailed it and received terrific feedback from her team.
Openshaw also cites Lorraine Hariton, former CEO of Catalyst, who said, 'We’re at the end of an era of unprecedented progress for women,' and added that 'these are fragile times and we still have an unfinished agenda.'
The piece says the United States ranks 42nd globally, and that the World Economic Forum estimates global gender parity remains more than a century away. It also says girls begin questioning their abilities at age 6, and by 14 their confidence has dropped 30%.
Openshaw argues that women need more than access. They need the confidence that comes from doing something successfully and realizing, 'I can do that.'
For markets, the lesson is straightforward. Capital rewards clear rules, merit, and the widest possible talent pool. When half the workforce is not reaching half the leadership or capital, productivity suffers and free enterprise leaves value on the table.
The market has already voted for competition. The question is whether institutions will stop treating women’s advancement as symbolism and start treating it as an economic advantage.
