289: Navigating the Broken Rung and Building Your Own Path to Success with Lareina Yee

The broken rung. It's that invisible hurdle, that subtle yet persistent barrier that keeps so many talented women from climbing the ladder. Think of it like trying to run a race with a shoelace tied to your ankle – you can still move, but you're definitely not at your full speed. Today, we're diving deep with Lareina Yee, a powerhouse from McKinsey Global Institute, and co-author of "The Broken Rung. Wrong. When the career ladder breaks for women and how they can succeed in spite of it." Lareina's is here to shed light on the strategies that can help us navigate this tricky terrain, reminding us that we're not alone in this journey. Let’s unravel the hidden ingredients, the superhero tactics, and the research-backed strategies that can help us all succeed, even when the ladder feels a little… wobbly.

Key Themes:

• The Persistent Broken Rung: The core issue starts at the entry-level promotion, where women are significantly less likely to advance than men, creating a ripple effect throughout their careers.
• Experience Capital: 50% of a woman's lifetime earnings come from on-the-job learning, highlighting the importance of strategic career moves and seeking out roles that build valuable experience.
• The Power Alley (P&L Roles): Securing profit and loss roles is crucial for career advancement, as they provide essential business acumen and are often a stepping stone to leadership positions.
• Strategic Risk-Taking (Big, Bold Moves): Embracing opportunities with significant skill distance can lead to substantial career growth and personal development.
• The Importance of Allies: Men and women both play critical roles in dismantling systemic barriers. Men in power can be particularly effective allies by providing mentorship, sponsorship, and active support.

Actionable Takeaway: Be your own advocate and seek out experience capital. Don't wait for opportunities to come to you. Actively pursue roles that challenge you and build your skills, especially in areas like P&L and technology. Take the initiative to learn new technologies like AI and refashion your role.

Learn more about Lareina Yee at McKinsey and Julie Kratz at nextpivotpoint.com