Equality

The weight of female board members in the Ibex 35 only increased by two tenths in the last year

The Barcelona Chamber of Commerce warns that equality is progressing at "different speeds"

The Ibex 35 is at an all-time high. Pictured is the Madrid Stock Exchange on October 8.
ARA
06/03/2026
2 min

As every year, with March 8th, International Women's Day, approaching, we must remember all that remains to be done. In the case of the Ibex 35, equality is far from being a reality. In this regard, the percentage of female board members in companies listed on the Spanish stock exchange's benchmark index stood at 41.49% in 2025, only two-tenths of a percentage point higher than in 2024, according to data released this Friday by the National Securities Market Commission (CNMV). Looking at the longer term, the CNMV points out that this percentage of female participation in the Ibex 35 has increased from 3.3% in 2005 to 41.49% in 2025, representing an increase of 38.1 percentage points over the last twenty years. Furthermore, the supervisor indicated that the proportion of women in senior management positions reached 27.49% in 2025, a one-point increase compared to the previous year. If all listed companies are analyzed, the percentage of female board members grew to 38.4% in 2025, two points higher than the previous year. However, in terms of senior management positions, the proportion of women fell to 24.33%, half a point less than in 2024. Looking at the last twenty years, the percentage of female board members in listed companies has increased from 5.6% in 2005 to 38.4% in 2025, a figure that represents a 2.2% rise. The glass ceiling "shifts, but doesn't break."

The Barcelona Chamber of Commerce has also found that equality is progressing at "different speeds" and the gender pay gap remains "significant," even though women have higher levels of education, according to a study presented this Friday. The director of the Observatory for Women, Business and the Economy (ODEE), Carme Poveda, pointed out that the results allow for a "long-term view of the evolution" and demonstrate that the glass ceiling "is moving upwards, but not breaking." The study, published every two years, analyzed some thirty indicators to provide a comprehensive view of the situation of women in the economy and society, closely examining sectors such as ICT and healthcare, where inequalities remain "just as high." In the ICT and research fields, the institution expressed concern about the low percentage of women pursuing degrees in computer science or engineering, who represent only 26% of students, in addition to the low rate of female employment, at 27%.

The results also highlight that women have a higher level of education than men, as 58% of university degrees are obtained by women, but a significant hourly wage gap persists (9.3% in 2023). Therefore, the Chamber has warned that, despite being more educated and accumulating more knowledge, this talent is being "wasted."

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