Elevator Up: Advancing Women in CRE

On average, in Indiana, a woman would need to work an additional 72 days in the year to offset the gender pay gap. At present, for every dollar a man makes, women only earn $0.84—a 16% gap for every dollar earned—and the findings are even more grim in the commercial real estate (CRE) industry. Though the tide is turning as organizations proactively work to combat gender bias, research indicates that a gender pay gap persists in CRE, with women earning less than their male counterparts. The 2020 CREW Network Benchmark Study found that women in commercial real estate earn, on average, $0.77 for every dollar—23.3% less than men in similar roles.

The advancement of women in the CRE industry is important for fostering diversity and inclusion, driving economic growth, building a strong talent pipeline, fulfilling social responsibility obligations, and enhancing industry reputation. By creating a more equitable and supportive environment for women professionals, the CRE industry can unlock its full potential and thrive in the years ahead—but it requires bold, collective action.

One of the most crucial aspects of addressing gender bias in CRE is raising awareness and fostering education around the issue. By openly discussing the prevalence of gender bias and its detrimental effects on women's advancement in the industry, stakeholders can begin to challenge outdated attitudes and norms. Workshops, seminars, and training sessions focused on unconscious bias and gender sensitivity can help CRE professionals recognize and mitigate biased behaviors in their interactions and decision-making processes.

Additionally, promoting diversity and inclusion initiatives within CRE organizations is paramount to combating gender bias. Companies can implement policies and practices that prioritize gender equality in hiring, promotion, and leadership development. Creating diverse hiring panels, establishing mentorship programs for women, and setting clear diversity goals are effective strategies for fostering an inclusive workplace culture where women feel valued and supported in their careers.

Furthermore, providing equal access to opportunities and resources is essential for reducing gender bias in CRE. Women professionals should have the same access to networking events, project assignments, and professional development opportunities as their male counterparts. Transparent and merit-based processes for promotions and career advancement can help ensure that gender bias does not impede women's progress in the industry.

At IndyCREW, we’re committed to helping Central Indiana’s women, CRE leaders elevate in their networks, companies, and community—and we do this through the combined strength of the local IndyCREW chapter and support of the global CREW Network organization. We work to make our members more visible through speaking engagements, panel discussions, leadership roles, and networking events that showcase their expertise and talents. In doing so, we’re challenging stereotypes and biases about women’s capabilities in the industry while simultaneously elevating their confidence and ensuring representation for a younger generation of women entering the industry.

Ultimately, fighting gender bias in the CRE industry requires a concerted effort from all stakeholders, including companies, industry associations, and individual professionals—and IndyCREW is here to support each of those stakeholders as they look to meaningful advancement of women within their organizations. If you’re interested in exploring IndyCREW membership for yourself or women within your organization, we invite you to learn more on our website.