The Women of Wall Street: Wait, where are they?

In response to my fellow classmate Braxton Ryback’s post on the female influence in business, I would like to draw further discussion on women in financial services and the gender disparity in the business workplace. To start with the facts:

• Only 3% of Fortune 500 CEOs are women
• Men are paid approximately 25% more than women for the same work
• The 50 highest-paid executives in the U.S. are all men

As Anne-Marie Salughter points out the crucial issues many women face of seeking balance and advancement, many women—despite consistently performing at the highest level—are turned down at times for promotion. Women often face gender-based stereotypes particularly in intense and fast-paced job industries, such as in finance. Yet a Catalyst study reveals that companies who have at least three women on their board of directors have 16% higher financial results.

Braxton mentions how “women bring a unique perspective, adding spice and variation.” John Keyser, Founder of Common Sense Leadership, believes women are simply “more dutiful and thoughtful in preparing their work” and then draws a comparison between how the women he works with tend to start work early and turn it in on time as opposed to the men who pulls it together, “turning in an inferior product.”  While these beliefs may be true in certain circumstances, I do not believe differences between the female and male gender should be the focus of the debate. It is not about demeaning the male gender and enforce stereotypes on the male work ethic (if there even is one) and promoting a female-dominated world but rather, about equality and implementing gender-balanced ratios in the boardroom, eliminating discrimination against and stigmatization behind the female force and ultimately providing equal opportunity in a more just society.

The women of Wall Street: Currently lacking in numbers, but a definite driving force for success.

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