Note to charities – women give more than men

In sales it’s a common believe and tactic that if you want to make a sale get the woman on your side first. After that it is a pretty short step to getting a signature on a dotted line. Well it would seem that the same idea applies when it comes to giving money to charities. According to a new poll coming out wealthy women give away nearly twice as much of their wealth than men do.

This isn’t just a U.S. centric finding either as it turns out that in the U.K. women give more on an average compared to the men. The survey run by Ledbury Research for Barclay’s Wealth found that of the 500 people with investible assets of $1 million women give an average of 3.5% in contrast to men at 1.8%

It isn’t just the percentages that are different but also the method of giving. The report says women have a greater sense of collaboration and will seek a variety of opinions before making a decision. Men often decide on their own.

Wealthy women donors, therefore, will be more likely to work in partnership with charities, rather than dictating terms. That is in stark contrast to the “My-way-or-highway” tendencies of venture philanthropy.

“The future of philanthropy may ultimately lie in understanding how men and women might work in partnership,” says Matthew Brady, Managing Director, Barclays Wealth in the Americas. “It’s going to be much more collaborative.”

Source: The Wealth Report :: Rich Women Give More to Charity Than Men

image courtesy of Bloomberg News