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I think most STEM fields are still male dominated, and finance has a lot of math, etc. involved.
There is research that traces this bias back to the toys you buy for your infant/toddler — girls are given lots of dolls and thus develop more emotional intelligence (an area many adult men struggle) and boys are given blocks and cars which leads to more exposure to mechanical/engineer concepts which can lead to better outcomes in STEM subjects. Obviously there are women in STEM (I am one), but when looking at our society as whole there is still a lot of catching up to do and a lot of unconscious (or not) bias placed on girls throughout their schooling that steers them away from STEM.
Yes. We also had the ‘gendering’ of computers and video games as a toy for men/boys in the 80s which was a huge set back for women in sciences and technology. We are just seeing some slight growth now that computers are so wide spread, and technology is so readily available (as we all access this app on our little handheld computers)… but damage was definitely done and will take time to overcome.
Then mom’s who had limited support and exposure to STEM in play as kids in the 80s/90s tell their school age child to ask their dad the technology or math question because “I’m just not good with that stuff”… and then we have another set back, another unconscious bias starting to form for the child, both male and female, that men are just ‘innately’ better at STEM than women. It’s really interesting (but somewhat depressing) to dig into the research.
As a young woman who's struggling to get hired at my ideal high finance jobs, I will say it's probably just the type of personality they look for in hires that are much more commonly found in men. It just doesn't cut it when I'm being interviewed by two white men from Florida and Minnesota as a woman of color from a completely different background. There's a certain vibe and lingo they expect and its bs. Or just could be my own incompetence but oh well
As a female in banking for 34 years I’m not necessarily agreeing with the comment that hiring managers are looking for a certain vibe or lingo. I think any hiring manager is simply looking for someone that can do the job well and knows how to play well with others in the sandbox. Maybe this is an oversimplification but I’ve always been hired for jobs by just convincing the hiring manager of those two things. My experience has been that, these days, hiring managers might lean more towards creating ethnic diversity in their teams as a badge of honor. That’s what I’ve noticed. Personally, I would just try and maximize every advantage that I have as long as it’s ethical.
Because upper management doesn’t create a comfortable or even professional working environment for women at most banks and financial firms.
Women that go into these professions (like myself) get really burnt out by the cultural and the constant micro aggressions. Add that to the sheer amount of work and mental effort and it’s not surprising women choose to leave or do something different.
Nailed it. I was in IB for 12 years and this is absolutely it. Add on top of it there’s a pretty big gap between the senior women who are top execs now — the “you call me a bitch like it’s a bad thing” / power suit act like a man generation — and my generation which is the “lift as we climb” / Lean In type of philosophy.
And guess what, the older women sometimes perpetuate the exclusivity of male culture as if they earned their way in and now want you to pass your initiation too. Pretty wild.
Because women don’t wanna do it. My girlfriend always stresses that she doesn’t want to be a “businessman” and prefers marketing because it’s softer or something. Sometimes that’s just the way it is
I’m a woman who doesn’t work in high finance but I wish I did. There’s a huge barrier to entry, especially for WOC.
I hear women complain about two things: 1) the more senior women being “mean” (could be the younger ones are sensitive or maybe the older ones are trying to groom them the way they were groomed) and 2) they dream of being housewives (not kidding) and have little interest in working like this for long.
I’m agreeing with you — I’m saying that factoring out the time that a woman spends away from the workforce having kids, or partially employed / underemployed during that time, should be included in the formula and I believe would show an even greater disparity in pay.
As a woman in finance I do not believe there is anything other than the fact that more men would rather get into finance type roles. If you think there are sexist reasons you will see sexist outcomes. Sometimes it just is the way it is without any problems.
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Tbh, I see A LOT of women at MS. Even maintaining higher positions. Can’t speak for other firms though.
I work with a lot of women, not sure there’s any lacking here.
I think there’s a lot of different factors that impacts each person in a different way. As an African-American male, I can say a similar thing from an ethnicity standpoint. (Ethnically) my counter-parts dominate the industry wayy more, male and female, but I feel things have grown and are growing in the right direction. Ie. If Jaime Dimon retires, I hear Mary Erdoes is up next. And opportunities have become more diverse over time
My wife says a lot of the women who make it to the higher levels pull up the ladder so to speak. She’s always felt that women are much harsher in their delivery when it comes to feedback and leadership.
I can’t speak for all women, but I certainly go out of my way to mentor any women who have decided to go into finance.
In corporate finance and treasury, in the last 10 years, I’ve mostly worked with women and had female bosses🤷♂️
I guess thee author talks about IB or commercial banking business side.
It’s work life balance. It’s hard to run the show in finance and manage household responsibilities as a woman unless you’re single or older with no young kids.
I am in finance, front office - female. Always wanted to be here, but after 1 year in the role I’m starting to feel it’s not for me.
People are unnecessarily mean and combative when they could instead be collaborative and kind. I’m fine with the actual work, I love it and am very good at it bc of it. The stress of navigating an org with so many insecure people is not something I want to put up with anymore.
Looking for an exit that makes sense financially too, please let me know if you have any suggestions.
I am starting to find this too! - buyside role with big AUM. The unnecessarily mean/combative/take others down to make yourself look better in comparison dynamic is tiresome and I don’t want to have to be a bad person to succeed.
I’m not in IB and would have loved to be the barrier to entry with the network required was wild… ended up in people analytics and business intelligence instead.
As a side note, I find female that strives in a male-dominated industry tend to become more aggressive (i.e. alpha female) - self defense mechanism I guess? What do people think
I work almost exclusively with male colleagues - and I see this in myself growing. Never wanted it. I think my environment is shaping me. Thinking of leaving now because of it. This is not me, but I need to be like this to survive here.
Because many women tend to have tendencies towards the “soft” sciences. Women are caretakers naturally which is why they tend toward careers as teachers, nurses, psychologists, etc. And while I am not one of them, that is okay.
Not really. You need that in any people oriented job. Sales especially…. The number one winning characteristic in any job is kindness/relationships. It’s a misconception that this strength is only useful for teacher jobs.
I prefer risk mgmt-don’t like finance
I think decades of male hires in the field, gender ratios, and interests in finance has played a role. The subject matters are complex and requires a certain grit to endure the pressures in the field. Though male dominated, there may an attrition on the rise. By population growth and other equality factors, mandated agendas, expect a shift.
not in high finance, but honestly it was because i didn’t consider it an option or interest when i was younger! i sorta fell into it and enjoy the enabling decision making portion of it. so maybe awareness plays a part? i’m a F in my mid to late 20’s and did the consulting route
I’m just going to read comments I’m curious to know why too