3 ways an MBA can accelerate your career as a woman in business

The MBA classroom has historically been a man’s world—but those days are behind us. According to a 2024 applications survey, 55% of MBA programs saw an increase in female applicants, while 42% of MBA students are currently women. 

This reflects the changing face of business. Women now make up 29% of c-suite positions, according to a recent McKinsey report, compared with just 17% in 2015. Though, there is still work to be done with women comprising just 10% of Fortune 500 CEOs (less than 1% of whom are women of color) and sexist stereotypes surrounding ‘bossy’ women still a regular occurrence. 

Becoming a woman in business therefore comes with its own unique challenges.

To find out how an MBA can help empower successful women in business, we spoke to three female HEC Paris MBA students and asked what they gained. 

1. Gain confidence as a leader

Building confidence as a leader can be a complex journey, especially for women navigating traditionally male-dominated industries such as finance and tech.

For Fabiola Luque Morales (pictured), a former executive at Banco de Credito del Peru and founder of a startup at age 19, pursuing an MBA at HEC Paris was a chance to step outside her comfort zone and grow both personally and professionally.

“Going outside of my comfort zone and living far away from the people I love, as well as my familiar surroundings, gave me plenty of personal growth and self-reflection. I rediscovered myself and learnt from others,” she says.

A strong advocate for innovation and inclusion, Fabiola wasted no time in leaving her mark at HEC. She founded the MBA Fintech Club, now a thriving community of over 140 students, and collaborated with peers to host events, partner with companies, and create new opportunities for dialogue.

Leading a multicultural team from scratch gave her the space to put her leadership skills into practice—bringing ideas to life and uniting others around a shared mission.

These achievements didn’t go unnoticed. Fabiola was awarded the ‘Excellence in Finance Innovator Award’ in recognition of her contributions to the industry, including her work at HEC.

“Founding the Fintech Club is something that makes me feel very grateful and inspired to continue creating valuable initiatives for the world,” she says.

Her advice for other MBA students?

“Savor the journey ahead. These 16 months provide a unique opportunity to break from routine, delve deep into introspection, and uncover your true desires in both personal and professional realms. Embrace this time with an open mind, and you'll find it to be a profoundly rewarding experience.”

2. Network with other women

It's crucial for women in business to support and empower one another. The HEC Paris MBA fosters this spirit of collaboration through various initiatives, including the HEC MBA Women in Leadership Club, which encourages networking, and mentorship. By learning from those ahead in their careers and embracing a sense of allyship, women today can grow, adapt, and thrive in their professional journeys.

When Indian-born Shubhi Khare (pictured right) applied to the HEC Paris MBA, she already had experience leading Amazon’s e-commerce operations in the Middle East. Shubhi pursued the program to gain global exposure and become a more well-rounded leader. 

As such, one of the defining aspects of her HEC experience was becoming president of the Women in Leadership Club.

Within the role she organized numerous events, including debates featuring high-profile leaders such as the French Minister of Diversity and senior executives from companies like Air Liquide. Her role in these discussions enriched her leadership style while also inspiring other women.

“It wasn’t just about job opportunities; it was about gaining wisdom to grow, support others, and give back,” Shubhi says.

“Speaking with women leaders taught me how to handle challenges and thrive in evolving environments,” she adds.

3. Become an entrepreneur

It can be hard to break off and do your own thing in the highly competitive business realm—especially seeing as 40% of female entrepreneurs report facing gender-based discrimination. 

Despite the challenges, Haitian-born Jennifer Elie (pictured right) was driven to pursue a path as an independent business professional alongside her already-established career as a chemist. Her goal was to create products that would help other women feel and look beautiful.

Her main inspiration was her grandmother, she shares: "Seeing my grandmother age so gracefully sparked my interest in understanding the science behind beauty and skincare.” 

However, as someone who was heavily involved in the science side of the industry, Jennifer recognized the need to develop her business skills to realize her ambitions. 

The HEC Paris MBA stood out as it contained an Entrepreneurship specialization, which covered courses such as Meaningful Entrepreneurship and Managing Innovation in Established Firms, designed to instill students with the confidence to make their ideas a reality. 

“It taught me to approach problems with an entrepreneurial mindset. [This is] essential whether I’m in corporate or independent roles,” Jennifer says.

Being a woman in business is far from easy. However, an MBA can be a great cornerstone for developing the confidence and leadership skills needed to achieve your goals.