Big gap remains for female managers in finance: report

Women’s roles in finance show a big gap in management positions, reveals an analysis of workplace data by the Financial Times.

Only one in four women who reach a senior role is female, and a majority of women in finance work in junior positions, the FT found.

The news agency collected the data from 50 banks, insurers, asset managers and professional services firms. It reported that 15 companies did not disclose their numbers.

“The data reveal that the share of women plunges dramatically as employees move up through the ranks at their institutions. Despite some improvements in recent years, progress has been painstakingly slow,” the FT report said.

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The FT found that 25.5% of senior positions in 2016 were held by women, up slightly from 23.7% in 2014. Women held 39% of mid-level roles, which was unchanged from 2014. Citi had the highest rate of women in senior roles, at 43.2%, followed by Deloitte at 35%.

“I wish people would stop bringing up parental leave. As a women who has worked in the industry for 20+ years and has no kids, trust me, it doesn’t make that much of a difference,” said one comment on the FT report, posted by user Catee. “There are 33 male MDs [managing directors] on my floor compared with 3 female MDs. The women are expected to be perfect, but the men are allowed to act like 5 year-olds, but then senior management use that same argument to deny women a promotion, as we’re then not viewed as being alpha enough.”

Read the full analysis here.

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Industry must inspire, mentor and sponsor women, say experts

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The staff of Advisor.ca have been covering news for financial advisors since 1998.