Lessons From the Top: Female Economic Development Leaders Share
Last month, I had the pleasure of moderating a panel of female economic development leaders at the International Economic Development Council (IEDC)’s annual conference in Denver. The session “Lessons from the Top” featured Danielle Casey, President & CEO, Albuquerque Regional Economic Alliance; Maureen Donohue Krass, President & CEO, Detroit Regional Partnership; Ashley Mays, Chief Real Estate and Marketing Officer, Newark Alliance; and Mary Ellen Wiederwohl, President & CEO, Accelerator for America.
Why Sponsor a women’s panel?
As a woman working in economic development for nearly 30 years, I’ve personally seen the profession shift from nearly all-male leadership to more of a balance. Yet, like many professions, the highest rungs continue to be hardest for women to climb.
As background, when I started my career in 1995 at the Kansas City Area Development Council (KCADC), women had only recently been “allowed” to wear pants in the office. Most of my female colleagues were secretaries, and the senior team was all male (the CEO referred to them as “a band of brothers”). My first year, my boss told me that I talked too loudly, was aggressive, and needed to learn my place – which, he explained, was at the bottom. However, he seemed pleased that I took charge of our annual meeting planning, set up frequent lunches with reporters, and volunteered to write and edit nearly everything that went out the door.
It was a confusing and challenging environment for an ambitious woman like me to navigate, and I sensed I was at a career disadvantage compared to my male counterparts. To overcome this, I worked more hours than my peers and earned a master’s degree after hours. I dressed “above my pay grade” in secondhand suits that my mom purchased for me from a stylish friend.
Eventually, I was promoted – and over time, taken more seriously. And KCADC has evolved significantly too – with powerful female executives in charge of investor relations, marketing communications, business development and more.
Challenges for Women Continue
Our panel of high-level female economic development leaders shared similar challenges, and generously offered advice for women seeking to grow their careers. The discussion was supported by statistics showing that though women have come a long way, we aren’t equal to men just yet.
According to an IEDC 2023 survey, the average male in economic development makes $113,000 annually, and the average woman makes $93,000 – meaning women make roughly 83 cents for every dollar a man makes in this field.
Another challenge women face is the “self-promotion gap.” This was characterized by a 2019 research study that found 69% of women would rather minimize their successes than tell people about them. In fact, nearly half of women would rather run errands in the rain or clean the bathroom than promote themselves at work. Women are socialized from an early age to be collaborative, so we need to be intentional about sharing our successes.
How Can Women succeed today?
The panelists were open about addressing ways to close the salary gap and become leaders in this field. Here are several important takeaways:
Embrace Your Leadership Style
Women often spend more time listening than speaking in meetings and tend to have a more collaborative leadership style – which has huge benefits. Panelists encouraged women to identify and lean into their individual strengths – whether it be in the areas of emotional intelligence, research and technology skills, or consensus building.
Create a List of Your Awards and Accomplisments
Yes, women have been socialized NOT to talk about themselves, but it’s critical that we create a list of our accomplishments and share it on LinkedIn, as well as on our professional bios and resumes. Know your numbers. For example, how many companies and jobs have you helped to create in your community? How many leads have you brought into your EDO? What awards or designations have you helped your region win? How much funding have you helped raise?
Cultivate Male MentorS
Panelists shared examples highlighting times when they weren’t taken as seriously as their male counterparts. Compounding the issue is the fact that economic development organizations continue to have male-dominated boards and site selection teams. To become more comfortable leading and partnering with men at all levels, panelists encouraged women to build a wide professional network and cultivate male mentors in addition to female advisors. These mentors can provide great insight into their own contract terms and negotiating styles and can help women land better deals for themselves.
Negotiate a Salary That Reflects Your Value
The panelists all experienced times when they’d been offered lower salaries than market rate. To address this, they emphasized the importance of doing extensive research when seeking job opportunities. Forge strong peer and recruiter relationships so you know what your role pays nationally and what perks can be negotiated. Do not accept the first offer you are given without first doing your homework.
While our profession has made positive strides since the mid-1990’s, many women still face a “glass ceiling” as they work their way to the top. I’m proud of the speakers’ candor and willingness to share their experiences and advice with the 100+ women who attended this valuable session!
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April Mason is president and founder of Violet PR, a public relations agency specializing in economic development. She began her career in economic development working for the Kansas City Area Development Council in 1995 and is proud that KCADC continues to be a top Violet PR client today.