For over a decade, this report has tracked slow, incremental progress. Women now make up nearly 30% of the C-suite, up from 17%. But the underlying systems? Largely unchanged.

And now, a new shift: women’s ambition is declining.

What We’re Seeing (Again)

Some findings won’t surprise you—but they should still frustrate you:

• The “broken rung” persists: for every 100 men promoted to manager, only 93 women are—dropping to 82 for Asian women and Latinas, and just 60 for Black women.
• Representation shrinks at every level: from ~48% at entry level to ~28% in the C-suite.
• Microaggressions remain common: 30–40% of women report daily bias.
• The double burden is real: women continue to carry more unpaid labor at home.
• Flexibility helps—but comes with penalties: remote women are less likely to be promoted.
• Performance systems still favor men: women are less likely to be rated “excellent.”
• Most companies still aren’t doing the full set of things that actually work.

What’s New (and Concerning)

This year’s report introduces a real shift:

• The ambition gap is growing: women are now less likely than men to want promotions (80% vs. 86%), with sharper gaps at entry and senior levels.
• Corporate commitment is slipping: only 50% of companies prioritize women’s advancement—and many are rolling back programs.
• Burnout is peaking for senior women: 60% report burnout, higher than men at the same level.
• Flexibility stigma is measurable: remote women are advancing less, while companies reduce hybrid options.

So… What Gives?

If the system hasn’t meaningfully changed—and in some cases is backsliding—opting out starts to look less like a personal choice and more like a rational response.

What Needs to Happen

For companies and managers:

• Fix promotion pipelines with real data and accountability.
• Invest in sponsorship (not just mentorship).
• Address microaggressions in real time, not just in training decks.
• Support managers so they can actually develop people.
• Normalize flexibility without career penalties.
• Stop quietly backing away from diversity commitments.

For individual women:

• Track your impact and advocate clearly for advancement.
• Build networks and sponsorship relationships.
• Make bold career moves—even before you feel “100% ready.”
• Push for equity at home as well as at work.

The Bottom Line

The issue isn’t that women lack ambition—it’s that the cost of ambition remains too high.