Analysing the statistics that show the number of women occupying senior positions in finance, we can draw such a conclusion: from the previous patriarchal society we have gone to patriarchal world of finance. What is more, data shows that men dominate the senior positions in general, not only in financial companies. Many of us probably have this subjective feeling of female absence among the seniors, since it is not difficult to observe. And the situation looks the same from a formal point of view. Catalyst inform that there are as few as 20 female chief executives in the whole Standard & Poor’s group of 500.
According to Harvard Business School, the number of women employed in private- equity, real estate and venture-capital firms is set between 17 and 23 percent, and this does not concern the higher positions only, but employment in general. In the world of finance there is definitely no equal division of sexes. The sad truth is that women directors, managers or any other seniors constitute much less than a half of finance related workers.
Eternally alive stereotypes
An important question arises: why women seem to keep off finances? Or maybe it is the labour market which is continuously shunning female candidates? We can suppose that it is a normal consequence of the former society order in which men dominated this area of market (and not only this one).
Maybe subconsciously, men are still considered as better candidates for finance governing positions, since they are perceived as more authoritative and adamant. Stereotypes aside, after years of women’s successful struggle for equality, as it turns out, there is still place for improvements. Actually, this is probably women’s awareness that needs some refreshment.
Choose better quality – choose women
Interestingly, Credit Suisse Research Institute have studied the problem and their results point out that women on senior positions influence the company’s work positively and contribute to the better financial performance.
It has been shown that women managers in many cases are better than men on the same position and the presence of a woman on management board brings various benefits, like higher average growth or returns on equity. Whereas men tend to incur more risk (and consequently losses) to business with their more impulsive and fiery temperament, women are just “safer”.
The situation has improved – after 10 years the percentage of female senior workers on boards of the biggest companies grew from 15 to 20. Observing this trend, we can suppose that it is going to continue changing for better.
2020 Women on Boards is a nonprofit organization created by 2 women who aim at increasing the number of female members of corporate boards to 20% by the year 2020. They believe that the diversity of thought is the key to successful management and such diversity cannot be realized without female representatives in the governing group.
The creators of the website girlswhoinvest.org go further and their goal is 30% by 2030. All the action which attempt to mobilize women to take action in governing finances bring some optimistic prognosis for the future.