Abstract:<p><i>Fewer women than men become executive managers. They earn less, hold more
junior positions, and attrit faster. We compiled a large panel data set on executives
and formed a career hierarchy to analyze promotion and compensation rates. Given
executive rank and background, women are paid more than men, experience less income
uncertainty, and are promoted as quickly. Amongst survivors, being female increases
the chance of becoming CEO. Hence the gender pay gap and job rank differences are
primarily attributable to female executives attriting at higher rates than males in an
occupation where survival is rewarded with promotion and higher compensation.</i>