$("#yourdropdownid option:selected").text();
Try this:
$("#myselect :selected").text();
For an ASP.NET dropdown you can use the following selector:
$("[id*='MyDropDownId'] :selected")
$().ready(function() {
$.ajax({
type: "POST",
url: "Default.aspx/GetGenders",
data: "{}",
contentType: "application/json; charset=utf-8",
dataType: "json",
success: function(msg) {
$("#ddlGender").get(0).options.length = 0;
$("#ddlGender").get(0).options[0] = new Option("Select gender", "-1");
$.each(msg.d, function(index, item) {
$("#ddlGender").get(0).options[$("#ddlGender").get(0).options.length] = new Option(item.Display, item.Value);
});
},
error: function() {
alert("Failed to load genders");
}