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You are here: DiversityInc | 2006 Top 50 | The Top 10 Companies . . .
The Top 10 Companies for Asian Americans
By the Editors of DiversityInc

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October 18, 2006

While Asian Americans long have had strong representation in technical fields, their rise in U.S. management ranks has been slower. The Top 10 Companies for Asian Americans demonstrate a long-term commitment to this community and to recognizing, developing and promoting top Asian-American talent.

 

Consider these statistics about this Top 10:

 

• Asian Americans are 8.9 percent of the work force in this Top 10, compared with 7 percent of the Top 50, 4.7 percent of the bottom quarter of survey respondents (there were 256 participants) and 4.4 percent of the U.S. work force. (Source: U.S. Department of Labor)

• Asian Americans are 12.2 percent of new hires in this Top 10, compared with 9.8 percent of the Top 50 and 6.3 percent of the bottom quarter of survey respondents.

• Asian Americans are 10.3 percent of managers in this Top 10, compared with 7.2 percent of the Top 50, 4.2 percent of bottom-quarter respondents and 5.9 percent of U.S. managers. (Source: U.S. Department of Labor)

• Asian Americans are 5.7 percent of CEOs and direct reports in this Top 10, compared with 4.8 percent of the Top 50 and 1.7 percent of bottom-quarter respondents.

• Asian Americans receive 11.2 percent of managers' promotions in this Top 10, compared with 8.3 percent of the Top 50 and 5.6 percent of bottom-quarter respondents.

• Asian Americans are 10.2 percent of the top 10 highest-paid employees in this Top 10, compared with 7.8 percent of the Top 50 and 4.3 percent of bottom-quarter respondents.

• Retention of Asian Americans at companies in this Top 10 averages 93.7 percent, compared with 89 percent for the Top 50 and 84.6 percent for bottom-quarter respondents.

 

Here are the Top 10 Companies for Asian Americans:

 

No. 1: Hewlett-Packard

 

Also No. 9 on the Top 10 Companies for Supplier Diversity list, No. 4 in the Top 10 Companies for GLBT Employees, and No. 31 on The DiversityInc Top 50 Companies for Diversity list.

 

Twelve percent of managers and 9 percent of CEOs and direct reports are Asian American at this company. Of female managers, 13.5 percent are Asian American.

 

No. 2:  Abbott

 

Also No. 8 on The DiversityInc Top 50 Companies for Diversity list.

 

Asian Americans are only 6.3 percent of all managers at this pharmaceutical company but receive 9 percent of management promotions and are 9 percent of the top 10 percent highest-paid employees.

 

No. 3: New York Life Insurance Co.

 

Also one of the 25 Noteworthy Companies.

 

This company has almost twice as many Asian-American women in mid-management as the Top 50 (8 percent vs. 5 percent) and a retention rate for Asian Americans of 92 percent. The company is launching an employee-resource group for Asian Americans

 

No. 4: Merrill Lynch & Co.

 

Also No. 44 on The DiversityInc Top 50 Companies for Diversity list and No. 1 on the Top 10 Companies for People With Disabilities list.

 

Ten percent of all managers are Asian American at the financial-services giant, but 13 percent of management promotions go to Asian Americans and 9 percent of the top 10 percent highest-paid employees are Asian Americans.

 

No. 5: Southern California Edison Co.

 

Also one of the 25 Noteworthy Companies.

 

Seventeen percent of all women managers—and 13.5 percent of all managers—are Asian American. Asian Americans also receive 13 percent of management promotions.

 

No. 6: Sempra Energy

 

Also No. 19 on The DiversityInc Top 50 Companies for Diversity list and No. 1 on the Top 10 Companies for Supplier Diversity list.

 

Twenty percent of women managers are Asian American, including 13 percent of women at the CEO and direct-report level. Of all managers, 13 percent are Asian American.

 

No. 7: Novartis Pharmaceutical

 

Also No. 42 on The DiversityInc Top 50 Companies for Diversity list.

 

With a 96 percent retention rate for Asian Americans, the drug company reports that 12 percent of all managers and 9 percent of the top 10 percent highest-paid employees are Asian American.

 

No. 8: Merck & Co.

 

Also No. 4 on the Top 10 Companies for People With Disabilities list and No. 34 on The DiversityInc Top 50 Companies for Diversity list.

 

Asian Americans are 9 percent of all managers (and 10 percent of all women managers) and receive 10 percent of all management promotions.

 

No. 9: HBO

 

Also No. 5 on The DiversityInc Top 50 Companies for Diversity list, No. 6 in the Top 10 Companies for Recruitment & Retention and No. 8 in the Top 10 Companies for Executive Women.

 

Asian Americans are only 6 percent of managers but receive 12 percent of management promotions at the media company, part of Time Warner.

 

No. 10: Depository Trust & Clearing Corp.

 

Asian-American women are 11 percent of all managers but receive 14 percent of management promotions. Asian Americans are 10.8 percent of all managers but receive 11.8 percent of all promotions.





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