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Business Record Lift IOWA Weekly | March 9, 2020
Ivy College of Business’ full-time MBA achieves gender equity
By Joe Gardyasz | Senior staff writer, Des Moines Business Record

The incoming class for the full-time Master of Business Administration program at Iowa State University’s Ivy College of Business marks a milestone that a majority of MBA programs nationwide are still aspiring to reach — gender equity.

For the first time in the program’s history, an equal number of female and male students — 14 each — are enrolled in the newest 28-member Ivy Master of Business Administration class at ISU.

The achievement has been seven years in the making, said David Spalding, who set out to raise the level of female enrollment shortly after joining ISU as dean of the business school in 2013.

"We have reached a goal here that some of the highest ranked MBA programs in the country have not yet been able to achieve, including Stanford and Harvard," Spalding said. Female enrollment is at near-equity for the college’s part-time MBA program as well, at 47% female enrollment currently, he noted.

Among the 25 most prestigious MBA programs in the country, only one so far — the University of Southern California-Marshall — reached that goal when it achieved 52% female enrollment in its 2018 class. Last year, 13 of the top 25 schools tracked by the graduate business education newsletter Poets&Quants had female enrollment of 40% or higher.  

Spalding said to his knowledge, no other MBA program of comparable size to ISU’s has achieved 50% or higher female enrollment among a full-time class. The program at the Ivy College of Business is the only full-time MBA degree program offered in Iowa.  

Having gender equity in MBA classes often translates to executive ranks of a company. However, it’s a heavy lift for business schools to reach, given that women are still in the minority of applicants for full-time, two-year MBA programs in the United States.

Nationally, only 39% of applicants to full-time, two-year MBA programs in the U.S. are female, according to the 2019 application trends reported by the Graduate Management Admission Council.

Everyone’s Business, an organization formed by USC students in 2017, led a push to encourage more women to enroll in the California school’s MBA program. According to that group, earning an MBA matters more for women. While only 34.4% of Fortune 500 CEOs have MBAs, a whopping 70.4% of Fortune 500 female CEOs have MBAs, the group said.

Spalding said a key step toward the Ivy College of Business attracting more women to enroll in the full-time MBA has been a focus on recruiting more high-quality female faculty. Consequently, the business school went from having the lowest percentage of female faculty in the Big 12 universities to the highest percentage. "More women in the front of the classroom draws more women into the classroom," he said.

Notably, of the four research awards made by the business school last spring (based on quantity and quality of research produced over the previous two years), three went to female faculty members who had been hired within the past three years, Spalding said.

The dean acknowledged that class enrollment for the full-time MBA program has dipped in the past couple of years — down from 34 last year and 38 the year before that.

However, the latest application numbers year-to-date indicate 32 students have already applied for next year’s class. By comparison, just four applications were in by this time a year ago. Spalding attributes the uptick to the MBA program’s latest national ranking by U.S. News & World Report, which last October placed it in the top 100 program, at No. 47.  

"So that gives me good confidence that we’ll see a good increase in our full-time enrollment this year," he said.
 
Opinion: Tips for salary negotiation for women
By Katherine Harrington | Director of Innovation, Business Publications Corp.

When was the last time you negotiated a salary or raise? It’s a fact: Women are viewed differently than men at the negotiation table. Gender bias enters the room as soon as you do.

According to the Coalition of Labor Union Women, the average college-educated woman earns $713,000 less over the course of her working life than her male counterpart. A Society for Human Resource Management study highlights that in 2018, 68% of men and 45% of women negotiated their salaries. And why is that?

I recently moderated a panel for the West Des Moines Chamber and learned so much from expert panelists including Rowena Crosbie, president and CEO at Tero International; Siobhan Harman, real estate development manager at Kum & Go; Rosemary Parson, senior vice president at EquiTrust; and Therese Wielage, vice president marketing at Merchants Bonding.

There is a double standard when it comes to salary negotiation. As Sheryl Sandburg discusses in her book "Lean In," "adhering to biased rules and expectations is still the clearest path to advancement for most women for the time being."

Below are some tools and resources to equip you with knowledge to help you close the deal on your next job or salary negotiation. And guess what these same principles apply if you are negotiating for a new car or your next vacation.

  1. Do your homework. Research compensation for your position and industry and see if what you are getting paid is in line with others in your industry. Arm yourself with information. A great resource is Payscale.com.
  2. Understand how others perceive you. What is your communication style? How do you come off? Here is a great exercise to find out from Harvard Business Review.
  3. Gender bias and the "backlash effect": A McKinsey & Co. 2016 survey of more than 30,000 employees found that women who negotiated for promotions were 30% more likely than men to be labelled intimidating, bossy or aggressive. You can overcome this by positioning yourself as helping the team, company and organization. Harvard Law School has many resources to help.
  4. Think personally, act communally. During the negotiation, use "we" versus "I" in the conversation. Position the discussion as good for the organization and team. Sheryl Sandburg’s book "Lean In" is a must-read.
  5. Highlight your successes with data. Provide concrete examples of how you are moving the organization forward with specific company goals.
  6. Focus on power and status. Studies show that when women think of specific examples where they felt powerful and successful before going into the salary negotiation conversation, they perform better during the discussion. Click here for more information regarding this research.
  7. Get comfortable with the uncomfortable. Don’t wing it. Practice the negotiation conversation verbally and role-play with friends and family so you know what you are going to say and you are prepared for anything.
  8. Nonverbal cues are just as important as verbal. Fifty-five percent of communication is body language, 38% is the tone of voice, and 7% is the actual words spoken. Here are 10 great tips to consider.
  9. Soft skills are key. Eighty-five percent of career success depends on soft skills. It all matters. Read "Your Invisible Toolbox" to gain an edge.
  10. Know your BATNA. Understand what the best alternative to a negotiated agreement is. Stay open and review options for your next career move.
  11. Look at the entire picture. Salary is just one topic to discuss. Think of additional negotiation details such as PTO, VTO, flexible work schedule, day care reimbursement and more. Here are 33 things you can negotiate.
  12. Look to the future. If you don’t get the raise you were hoping for, ask for specific goals that you need to accomplish to help take you to the next level at your company.

How can your organization also help to close the gender pay gap? Leanin.org is filled with many ways you can be a part of the solution. As Sheryl Sandberg writes, "It's indisputable that there’s a real pay gap. People can argue about how big, but that’s almost beside the point. Every woman, every girl, deserves to get paid what they’re worth."

Katherine Harrington is director of innovation at the Business Record and has a vast career in leadership, sales and marketing. She has held management roles with organizations including Zenith Data Systems, Crain’s Chicago Business, San Diego Business Journal, and her own media startup, The T Sector San Diego. She has led nonprofits including president of the board for Ballet Des Moines, board chair of the South Central Region of the Iowa Governor’s STEM Advisory Council and more. Katherine and Craig Walter host the BackYardBash community event and they are especially proud of the young leaders in their family, Allie, Nick and Kaitlyn. You can learn more about Katherine on her Linkedin profile or at www.katherineharrington.net.

IN THE BUSINESS RECORD
A Closer Look: Kerty Levy

Everywhere that Kerty Levy appears these days, she is talking about Iowa investment.

As an honored speaker at the Technology Association of Iowa’s Catalysts event, Levy noted that only 1.2% of the $117 billion in venture capital for U.S. startups in 2018 was directed at Midwestern startups — and Iowa had to share that slice among the Dakotas, Missouri, Kansas and Nebraska. As an entrepreneur-in-residence and then interim director for the Iowa AgriTech Accelerator, Levy relied on her consultation skills from previous roles to guide agtech startups through the 2019 cohort session.

These days, Levy is guiding the launch of Techstars Iowa, a partnership between the international Techstars network of accelerators and venture capital, and local partner Grinnell College. Techstars Iowa will accept up to 10 startups for the first cohort, which will run from September to December 2020 and award $20,000 in initial investment to each startup. Read more
BRIEF LIFTS

Des Moines named top city for women in STEM: Des Moines can add a new ranking to its list of accolades. The city recently was ranked third on a new list of top cities for women in STEM. Des Moines made the top 10 among other Midwestern cities, according to the ranking released by commercial real estate website CommercialCafe. The website determined a city’s overall ranking by taking into account the number of female employees in STEM careers and how it’s changed over time. It also considered the average salaries of women in STEM and how their median earnings have evolved. Read more about the ranking.

Keynote speakers announced for WLC conference: Caroline Criado Perez, Emily Nagoski and Amelia Nagoski will be featured keynote speakers at the 2020 Women Lead Change Central Iowa Conference on Oct. 28-29 at the Iowa Events Center. Journalist Caroline Criado Perez is the author of "Invisible Women: Exposing Data Bias in a World Designed for Men." Sisters Emily and Amelia Nagoski co-authored "Burnout: The Secret to Unlocking the Stress Cycle." Tickets and more information are available online.

Aversing named to architect editorial board: Anna Aversing, an architect with Neumann Monson Architects in Iowa City, recently joined the Iowa Architect Editorial Board. After graduating from Iowa State University, Aversing spent five years working on international projects in London before she relocated to New York and Chicago. Aversing also serves on the Iowa City Downtown District First Round Committee and the Outreach and Communications Committee for Iowa Women in Architecture.

Tommelein selected for STEP Award: Sarah Tommelein, production manager at Whirlpool’s manufacturing facility in Amana, recently received the Women in Manufacturing STEP Ahead Award in the Emerging Leader category. Started in 2012, the STEP (Science, Technology, Engineering and Production) Ahead Awards honor women who have demonstrated excellence and leadership in their careers and represent all levels of the manufacturing industry, from the factory floor to the C-suite.

NewBoCo creating support groups for entrepreneurs: Eastern Iowa's business community isn't always prepared for the emotional and psychological side of starting and running a business, which is why Corridor-area entrepreneurial support organizations NewBoCo and MERGE are partnering with Rina Jensen, a business resiliency coach, to offer coaching and peer group support for area entrepreneurs. The services are available to any business owner or founder in Eastern Iowa, though NewBoCo and MERGE are subsidizing a portion of the cost of the program for their members. Learn more
NEWLY ANNOUNCED EVENTS

March 11: Metro Women Connect
Holly Hoffman, motivational speaker, author and last woman standing on season 21 of "Survivor," will host a half-day workshop presented by Metro Women Connect, a program of Women Lead Change. Tickets are $75 per person and includes continental breakfast and the workshop.
Where: Des Moines Marriott Downtown, Des Moines. 8-11:30 a.m.
Learn more

March 24: WOW March - 100+ Women Who Care
This month’s Women of Worth Des Moines luncheon will focus on the power of philanthropy, and feature speakers Leslie Malcom with Mediacom and Jessie Phillips with Girl Scouts of Greater Iowa. The luncheon also includes two networking sessions.
Where: Holiday Inn, 4800 Merle Hay Road, Urbandale. 11:30 a.m. to 1 p.m.
Learn more


View our full calendar to see the latest curated business and community events, or suggest an event.
IN CASE YOU MISSED IT
WOMEN IN THE NEWS

IOWA

Lisa Covington recently received the Martin Luther King Jr. Achievement Award for her advocacy and work for equity and liberation of African Americans and people of color in Iowa City.

Shannon O’Shaughnessy has always worked in restaurants, and last June she bought Riley’s Cafe in Cedar Rapids and in November officially changed the name to Bea’s Cafe.

Michelle Morse will become the superintendent of Bettendorf Schools beginning July 1.

Jaimen Pangborn helps Cedar Rapids’ at-risk youth find their path to success. In 2011, Pangborn was one of the first employees hired by the Zach Johnson Foundation for its Kids on Course program.

U.S. Rep. Abby Finkenauer opened up to USA Today about her battle with endometriosis, and how she’s using her position to push to raise awareness.

NATION

Chances aren’t looking good for the United States to see a female on the 2020 presidential ballot. Last week, both Massachusetts Sen. Elizabeth Warren and Minnesota Sen. Amy Klobuchar dropped out of the race, leaving one remaining female candidate Hawaii Rep. Tulsi Gabbard in a race that started with the most women candidates in history.

California’s grand experiment to add women to corporate boards is well underway and the first signs of how effective it is are in. The results are mixed at best.

In recent years, Yelp has seen an increase in requests from users for ways to search for women-owned businesses, and the business listing site is ready to honor those requests.

Every year, Fortune studies the portion of venture capital funding that went to companies founded solely by women. Female-founded companies in 2019 got 2.7% of venture capital funding, for a total of $3.54 billion.

A FEW GOOD READS
Why successful women pretend their lives are in shambles

By Megan VerHelst, Lift IOWA contributing editor: Last year, I saw a meme on Facebook with a quote I felt was created specifically for me on my average day: "I’m not a hot mess. I’m just a mess — room temp." I still laugh when I say it to myself, but why is it I slap this label on myself? There’s a term for that — it’s called "Liz Lemoning," a concept named after the popular "30 Rock" character played by Tina Fey. More commonly, you simply dub yourself a "hot mess," which ultimately is more of a persona than a personality, writes Kelli Korducki for Forge. The one who calls herself by that name? Her achievements aren’t accidents, but she doesn’t want you to see how much she cares.

Read more

The truth about microaggressions in the workplace

Thrive Global: Derald Wing Sue, a psychologist who studies microaggressions, defines them as "brief and commonplace daily verbal, behavioral, and environmental indignities, whether intentional or unintentional, that communicate hostile, derogatory or negative racial, gender, sexual orientation and religious slights and insults to the target person or group" — and a reported 64% of women claim to have experienced microaggression in the workplace, according to a report by Thrive Global. Microaggressions are most often directed toward those who have less power, women in particular, and are powerful because they allow ugly biases to manifest in a subtle yet powerful way.

Read more

ON THE RISE
Billi Brahn (pictured)
Promoted to senior vice president, director of trust and wealth management
Iowa State Bank
Des Moines

Tam Lines
American Enterprise Group Inc.
Joined as a commercial real estate investment manager
Des Moines

Mollie Ross
Technology Association of Iowa
Promoted to director of operations
Des Moines

Kristi Hanke
Midwest Heritage
Hired as vice president, human resources
Ames

Christine Bachrach
University of Iowa Health Care
Hired as chief compliance office
Iowa City


SUBMIT AN ON THE RISE: Know an Iowa woman who recently started a new management or executive-level job? Send her name, position and company, along with a photo, to liftiowa@bpcdm.com.
A LIGHT LIFT
'If I was a man, then I’d be The Man'

On Feb. 27, Taylor Swift dropped a new video for "The Man," the latest single from her most recent album, "Lover." The song, for those who haven’t heard it, might be her most explicitly feminist, laying out all the ways Swift believes she’s faced a sexist double standard as a famous — and occasionally infamous — woman.
EVENTS

LEAP 2020 Kickoff
MAR 13 | 11:30 AM
Holiday Inn Downtown
Des Moines

Monthly Luncheon with Karen Schumacher
MAR 24 | 11:30 AM
Hotel Julien
Dubuque

Power Ladies Lunch
MAR 25 | 11:30 AM
Cedar Rapids Metro Economic Alliance
Cedar Rapids

The Power of Persistence
MAR 25 | 11:30 AM
Wakonda Club
Des Moines

Tippie Women Summit
MAR 28 | 8:30 AM
The Graduate Hotel
Iowa City


Learn more about these events or submit an event here.


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