MONTVALE, N.J., May 23 /PRNewswire/ -- African-American, Hispanic-American
and Native American MBA's in corporate America say they still lag far behind
non-minorities in getting hired, promoted, and reaching their companies' upper
levels, a survey by The PhD Project reveals. But looking five years ahead,
most of the group expect opportunities for new MBAs to improve or hold steady.
The survey offers insights into the attitudes and beliefs of today's
minority executives, at a time when corporations are increasingly aiming to do
more to attract and keep minority executives. The survey found:
-- 73% say minority MBAs lag "somewhat" or "far" behind non-minorities in
getting hired for corporate positions; only 12% say minorities have the
-- 86% say minorities lag somewhat or far behind non-minorities in earning
promotions and raises; just 2% say minorities do better.
-- 97% say minorities fare worse in reaching the corporate "inner circle";
zero % thought minorities fare better than non-minorities.
-- based on all they see and experience, 34% think life in corporate
America is worse than it was five years ago, and 27% think it is
better, (38% say it is about the same).
-- But looking ahead five years, 38% think opportunities for new minority
MBAs to land good jobs and advance will improve -- with 22% predicting
opportunities will worsen (40% expect no change).
The survey was conducted among 109 African-Americans, Hispanic-Americans
and Native Americans, all of whom have MBAs, who work in corporate or
professional positions in the US.
The PhD Project is a comprehensive, long-range effort to substantially
increase minority faculty and, ultimately, minority student representation in
the nation's business schools. The PhD Project aims to advance this goal by
acting as a catalyst for more minorities to pursue Ph.D.s in business and
become professors. The presence of minority professors as mentors and role
models has been shown in research to be a determining factor in leading more
minority undergraduates to enroll in business schools.
"This survey contains sobering news for corporate America," said Bernard
J. Milano of KPMG, who heads The PhD Project." Minority MBAs plainly believe
that African-Americans, Hispanic-Americans and Native Americans have not yet
earned their fair place in the business world. This is a message that
corporations must hear and respond to if they want to hire and keep minority
executive talent. The one bit of encouraging news is that more minorities
think opportunities will improve over the next five years than think
conditions will worsen."
In the survey, 93% of the respondents disagreed with the statement, "All
in all, the playing field for minority and non-minority executives in
corporate America is pretty much level."
Also, 76% said they expect minority executives will be more likely than
non-minorities to lose jobs or income in the next recession.
The coalition of corporations and academic institutions that support The
PhD Project include: The KPMG Foundation, Graduate Management Admission
Council, The Citigroup Foundation, AACSB, Chrysler Corporation Fund, Ford
Motor Company, James S. Kemper Foundation, Abbott Laboratories, Fannie Mae
Foundation, Institute of Management Accountants, Texaco, AICPA, Joseph E.
Seagram & Sons, Inc., Merrill Lynch & Co. Foundation, Inc., Mobil Corporation,
State Street Corporation, Union Carbide Foundation. In addition, more than
80 colleges and universities contribute $1,000 each year to the Project, and
send representatives to its annual conference to recruit prospective Ph.D.
students. Total contributions approximate 1.6 million per year.
SOURCE The PhD Project