Data from the National Longitudinal Survey of Youth 1979 indicate that, between 1996 and 2010, women, on average, lost some of the promotion momentum they had achieved at the beginning of midcareer, although they outperformed men in this regard. For both genders, the economic downturn of 2001 and the Great Recession of 2007–2009 contributed to reduced promotion probabilities. In the case of women, however, cohort effects, rather than the business cycle, seem to explain the promotion experience during the Great Recession. Promotions translate into higher real-wage increases, especially when coupled with growth in job responsibilities. Crowding effects, if not necessarily a thing of the past, are no longer manifested in reduced female promotion rates or earnings
