Women in senior leadership: current landscape, barriers, and key insights

Studies show that Spain has the highest percentage of women in leadership positions in Europe. That’s undoubtedly positive news, but the reality is that this figure has declined over the past three years. What’s more, women remain significantly underrepresented in the most senior executive roles.

If you’re a woman studying for a business degree, understanding where we stand today, why the gender gap persists, and how to prepare for a leadership position can be a strategic advantage for your career.

In this article, we’ll review the latest data, analyze the main barriers, and see how studying one of Esade’s Master of Science in Management programs can be a first step toward advancing your career and promoting greater gender equity in senior leadership.

What percentage of women hold senior leadership positions in Spain and around the world?

To understand how many women hold senior leadership positions today, we need to look at the latest economic reports. Spain currently ranks first in Europe and sixth worldwide for women’s representation in business leadership.

According toGrant Thornton’s Women in Business 2026 report, women hold 37.3% of leadership positions in large and medium-sized companies in Spain, down from 38.4% in 2025 and the record high of 40% reached in 2024.

Across Europe, the figure stands at 34.9%, while the global average is 32.9%, according to the same report.

However, at the very top of the corporate hierarchy, women remain underrepresented: only 6.6% of CEOs at the world’s 500 largest companies are women, according to the Fortune Global 500 2025. In other words, just 33 of the 500 companies on the list were led by women.

The gap between men and women in senior leadership: the disparity that persists

The pattern of women’s underrepresentation at the top of the corporate hierarchy has a name. The Esade Gender Monitor 2025 calls it “the climb to the top”: as professionals move up the organizational ladder, the percentage of women declines systematically.

According to the report, in 2025, women accounted for 67% of new hires in sectors such as healthcare and services, but only 36.7% reached the executive leadership level. In the financial sector, the drop was even steeper, falling from 48% of new hires tojust 21% in the most senior executive positions.

Overall, although women make up more than 50% of new hires across companies, only 22% hold the highest executive position, such as CEO or Managing Director.

This structural barrier is only reinforced by Grant Thornton’s 2026 data: the proportion of women CEOs in Spain has already fallen to 18.5%, marking a decline of ten percentage points over the past three years. The gap, therefore, isn’t in entering the workforce. It’s in reaching the final stage of the leadership pipeline.

Why are there fewer women in senior leadership? Barriers and challenges

#1. The glass ceiling and unconscious bias

The glass ceiling is the invisible barrier that prevents women from advancing to the most senior leadership positions, even when their qualifications and performance are equivalent to or greater than those of their male colleagues. It’s not a written rule. It’s the cumulative effect of unconscious biases that influence hiring and promotion processes.

Among the most well-documented are affinity bias, the tendency to choose candidates who resemble those already in the role, who have historically been men, and attribution bias, which associates men’s achievements with personal merit and women’s achievements with external factors such as luck or teamwork.

#2. Work-life balance and the motherhood penalty

According to the Esade Gender Monitor 2025, 82% of women executives have sacrificed leisure time, well-being, or their health to advance their careers. And one in five women has turned down senior leadership positions because they couldn’t maintain a healthy work-life balance.

The motherhood penalty is another of the most widespread unconscious biases in executive environments: it’s assumed that women of childbearing age will be less available or less committed, putting them at a disadvantage compared with equally qualified men. The consequences are tangible: 11% of the women executives surveyed in the study have postponed or decided against having children to protect their careers.

The issue of part-time work for women also presents a dilemma: it’s a measure intended to support work-life balance, but it can slow access to positions with greater responsibility.

#3. Lack of networking and mentoring opportunities for women

Twenty-eight percent of women executives identify the lack of formal and informal support networks as the main obstacle to reaching senior leadership. Access to mentors, sponsors, and professional communities isn’t an “extra”: it’s a critical driver of visibility and career advancement.

The organizations leading the way in inclusive leadership already include mentoring and sponsoring programs as part of their gender equity strategy.

Women in senior leadership: inspiring examples

The international financial sector has outstanding role models who demonstrate the impact of female talent on strategic financial decision-making.

• Susan Li (Chief Financial Officer – CFO of Meta):After beginning her career as a financial analyst on Wall Street, she now leads the finances of one of the world’s most influential technology companies (Facebook, Instagram, and WhatsApp).
• Ruth Porat (President & Chief Investment Officer of Alphabet/Google): Considered one of the most powerful women in global finance, she led Alphabet’s finance function as CFO for years following a distinguished career in investment banking.
• Amy Hood (Executive Vice President & CFO of Microsoft): Responsible for the software giant’s global financial strategy, she has played a key role in many of the company’s biggest acquisitions and investment decisions over the past decade.

Climbing the ladder through finance: from CFO to CEO

Profiles like these support the data showing that corporate finance is one of the strongest pathways to senior leadership. In fact, according to Spencer Stuart’s leadership transition reports, the CFO role has become one of the most common and direct routes to the CEO position through internal promotion in recent years.

Studying a globally recognized program in this field, such as Esade’s Master’s in Finance, gives you the advanced technical expertise, the international ecosystem, and the global network you need to start charting your path toward senior leadership.

How to prepare for a senior leadership position

The Esade Gender Monitor 2025 and the profiles of today’s most inspiring women leaders point to four key drivers for building a path toward senior leadership:

1. Specialized education: Pursuing a Master’s degree in management and leadership allows you to develop the knowledge and skills required for today’s leadership positions.

2. Visibility and networking: Don’t wait until you’ve gained professional experience to build your network and personal brand. Start while you’re still studying or taking your first steps in the job market.

3. Mentoring and sponsoring: Fifteen percent of women executives say this has been the most transformative factor in their careers. At Esade, there are multiple initiatives designed to support female talent, from mentoring programs to associations and initiatives such as Women at Esade.

4. Understanding the biases you’ll encounter:Knowledge is the best tool for navigating environments that have yet to achieve full gender equity.

Esade’s Master’s programs are designed for talented women who want to start building a leadership career after completing their undergraduate degree. The school is part of the Forté Foundation, a global network dedicated to empowering women in business, and offers scholarships specifically for women aspiring to international leadership positions.

Find the Esade Master’s that’s right for you by taking Esade’s program matching quiz.

Frequently asked questions

What percentage of senior leadership positions in Spain are currently held by women?

According to Grant Thornton’s Women in Business 2026 report, women hold 37.3% of leadership positions in large and medium-sized companies in Spain. However, this represents a decline compared with the previous two years.

Why are there fewer women than men in senior leadership positions?

Las causas son estructurales y culturales: el techo de cristal, los sesgos inconscientes en los procesos de selección y promoción, la penalización por maternidad y la falta de redes de mentoring femenino son algunas de ellas.

What education do I need to pursue a senior leadership position as a woman?

Master’s programs in business management, such as Esade’s, combine technical expertise, leadership skills, an international network, and greater visibility to help prepare you for a future leadership position. Among them, the Master’s in Finance provides access to one of the functional areas with the highest proportion of women in leadership roles.

Which sectors have the highest proportion of women in leadership positions?

NGOs (61.2%), the consumer goods and FMCG sector (45.7%), and banking (42.9%) have the highest representation of women in leadership positions. Human Resources (43.0%) and Finance (38.5%) are the functional areas with the highest proportion of women in leadership roles.

Are you a woman with your sights set on senior leadership? Explore Esade’s Master’s in Management programs and build the foundations for your future.