Gender segregation, gender differences in payment and the scarcity of female leaders in the upper level management are still great issues despite the slow but apparent improvement of the career opportunities of females. Reviewing relevant research and theory, the study aims to reveal possible explanations for gender inequalities in the job market and to evaluate strategies for change. Actual or alleged gender differences, gender stereotypes and gender role expectations as well as structural, organizational factors and their interactions are considered. Together, these factors can lead to gender segregation, the glass ceiling and glass wall phenomena. Emphasis is put on those challenges women leaders have to face at a greater extent than men: they have to find the delicate balance between family and workplace as well as the contradicting requirements of the female gender role on one hand and the leader role on the other hand. The relation of gender and status and power has a significant role in this analysis.