There’s A Gender Gap Even In The Metaverse

Susan Armstrong | THIS COLUMN WAS CREATED BY JOBBIO
·4 min read

The metaverse looks set to change the way we work and play. Within it, you can make friends, design fashion, buy real estate, attend events, create and sell digital art, and earn money. Some believe the true metaverse, which is years away, will revolutionize the internet as we now know it, and what was once a mere buzzword is becoming a roar.

Facebook founder Mark Zuckeberg has gone so far as to rename his company after it. Microsoft spent $68.7 billion on its acquisition of Activision Blizzard so it could expand its virtual foothold in the metaverse. And Goldman Sachs believes the metaverse is an “$8 trillion market opportunity”, which is roughly the size of Japan and Germany’s combined GDP.

It’s not so surprising then, that experts say companies, large and small, need to not only better understand what the metaverse is, but should also be developing strategies around it today––strategies that include marketing, product development, customer relations, and diversity and inclusion.

Unfortunately, D&I is decidedly lacking at present. Despite hopes that the metaverse might be a platform that has more parity, research by McKinsey shows discernible gender inequality, especially when it comes to women in leadership roles.

Lack of diversity

In its report, the firm found an already noticeable gender gap, similar to the gap that exists in Fortune 500 companies and start-ups, where less than 10% of Fortune 500 CEOs are women, and female founders receive a mere 17% of all VC funding.

In the past five years, metaverse companies led by men received a higher share of total entrepreneurial funding than metaverse companies led by women––90% to 10%. Men received $107 billion in funding; women got $5 billion. The findings are based on the data of 4,186 founders.

Ironically, the research also found that when women are active in the metaverse they’re more likely to be power users (35% compared to 29%), and they are also spearheading and implementing more metaverse initiatives.

“The metaverse has the potential to bring profound change to the global economy, as well as to create new and more equitable opportunities for all who use it,” the McKinsey report stated. Which is why it’s of paramount importance that the gender gap is addressed and corrected while it’s in its early development stages. Companies planning to participate in the metaverse have an opportunity and responsibility to shape an inclusive space where everyone feels represented, and that they belong.

Speaking of, here are some exceptional companies that have done just that… but IRL. They all appeared on AnitaB.org’s 2022 Top Companies for Women Technologists list. A global non-profit focused on intersectional gender and pay parity in tech, and in 2022, AnitaB.org measured 52 companies, 422,494 technologists, 106,928 women and non-binary technologists and 61,485 women and non-binary technologists of color.

Airbnb, Wells Fargo and Northrop Grumman all appeared on the list, and in even better news; they’re also currently hiring.

Airbnb

Airbnb is united with its community to create a world where anyone can belong anywhere. It is looking for a Lead Experience Designer – Infrastructure in San Francisco. As a design lead you’re a thought-leader in and outside the organization helping to advance the craft. You’ll lead projects and initiatives, inspire and direct teams, and partner with wider teams to define problems and goals. If you have 10 years’ experience with end-to-end product design, preferably with experience in enterprise and/or data products, and excellent visual, interaction and/or service design skills, then find out everything you need to know here.

Wells Fargo & Company

Wells Fargo & Company is a diversified, community-based financial services company with approximately $1.9 trillion in assets. It believes in diversity, equity and inclusion in the workplace and it’s currently looking for a Lead Information Security Engineer in San Leandro. You’ll need a well-rounded understanding of the cloud threat landscape, endpoint/network defenses and detection methodologies, in addition to expertise in how adversarial cyber threat actors think and attack. Regular collaboration with multiple teams will be critical. Read all about it here.

Accounting Manager 1/2, Northrop Grumman, Dulles

Northrop Space Systems is seeking qualified candidates for an Accounting Manager role to provide leadership and guidance to the enterprise and sector specific accounting shared services organization.The position has oversight of general accounting responsibilities including coordinating the month end, quarter and year end accounting close requirements and maintaining the general ledger chart of accounts. You will also manage the account reconciliation process for owned accounts and prepare, review and approve journal entries. Get the full job description here. For more career opportunities and to find a role that you love, visit The Hill Jobs

For the latest news, weather, sports, and streaming video, head to The Hill.