Aite, so back a few years ago when I graduated from college, I seriously considered going into the investment banking field, (most likely in hedge fund). I’ve asked around and came up with an informal consensus that it is uncommon as a woman to “make it” in the investment banking / finance field. The woman that do make it are either exceedingly beautiful (nice way of putting it), and/or very manly. Would you agree / disagree? [I pretty much ruled out investment banking considering all the things involved, especially because my current job is cush in comparison.] I think in one sense, woman could have a slight advantage if the firm is looking for diversification, but in another sense, many investment banking firms are still the old boys club. It’s pretty well-known that it’s slightly easier for a woman to get into MBA programs, and I guess it holds true to a certain extent in the workplace. I can say from my experience that I do think that my gender and ethnicity played a major role in getting hired, especially because I met the minimum requirements. I can also say that I’m the combination of the perfect storm, and most likely will have an easier time getting into MBA programs should I decide to pursue it. (I’ve seen this happening to a few female friends I knew that had decent credentials, but not superb.) Any thoughts?
I know a lot of business schools want to get more women in their ranks, but my experience at any of the top schools is that the women, by and large, are pretty competitive and accomplished in their fields. My girlfriend works in investment banking – of course I think she’s quite beautiful. However, most of the time, I think she worries less about trying to fit in with the “boys club” there (which, even in spite of human resources initiatives and the pressures of non-discrimination, still exists to some extent), and more about just not getting buried under work. I can definitely tell you that when work needs to get done, people couldn’t care less whether you were male or female or black/white/yellow/purple or whatever; they just want you to get your work done and not make any mistakes. That’s the perspective that I have of the more junior-level employees, at least of the several dozen investment banking analysts/associates that I know. At the more senior level, most of the women that I know in investment banking or private equity tend to be real gunners or career-oriented, and a number of them are single and/or don’t have children. Most of the girls I know that have aspirations of starting a family in the foreseeable future leave IB/PE after 4-5 years at most in pursuit of a job with better work/life balance.
I think it is easier for girls to go the MBA route and go into IB that way in the current environment. I met Darla Moore (one of the top women bankers in the early 90s) and talked to her about breaking into the field - - she said she was just super driven and motivated. We had a lot of cocktails though at that point - was a funny convo. I know a handful of girls in the IB field . . . but I live in a major urban area. They are all very driven, smart, motivated, and willing to go the extra mile. edit: Darla was named the 50 Most Powerful Women In Business in 1998 and 1999 by Fortune Magazine . . . and it was not because of her billionaire husband - - it was in her own right. She established her own niche.
‘and it was not because of her billionaire husband’… ha ha ha. That’s like the question, so what attracted you to your small, ugly dwarish billionaire husband Mrs Ecclestone? So her links in with wealth weren’t a factor. Um… right. How about the successful non-connected females in finance? Problem is and will always be the children factor, but this can be overcome. Having mental skills is one - google Leda Brega. Otherwise, working in a demanding environment with 6 kids is another google Nicola Horlicks (Think she is also well connected byt have to hand it to her for doing that and running a family. Big props)
http://www.theaustralian.com.au/news/features/a-fund-of-ones-own/story-e6frgabx-1225842712415 Mandy Mannix is a cool lady. One of my good guy friends has said that he just never gets any female applicants for the roles that he advertises (FI research/broking).
http://www.efinancialnews.com/story/2010-04-08/the-investment-banking-beauty-myth "If you are an investment banker, take a long look around your office. Anything in particular catch your eye? Notice that your female colleagues are blonde, statuesque and gorgeous, may not be so good with numbers but have eye-poppingly good legs? No? And nor should you, according to this comment aiming to bust the myth that investment banks only hire beautiful women. "
As a woman with two kids, I really don’t understand the high-powered women who work a bajillion hours and are content to have their kids raised by nannies. (Yes, I’ve met many of them.) Their values simply differ from mine. I remember one woman saying that she doesn’t see her kids M-F and often has to travel for work on the weekends (internationally). But she was fine with that because it’s “quality over quantity” and she has 2 good nannies for her 2 kids. And yes, I think the child factor will always be an issue. My husband is home with our kids, but I feel guilty/lousy when I don’t see them “enough.” And my version of “enough” appears to be quite different from that of my male colleagues. Perhaps this is in moms’ DNA, even when they have the same spousal support/setup their male colleagues have. Or maybe I’m just odd.
cfa2grunt Wrote: ------------------------------------------------------- > As a woman with two kids, I really don’t > understand the high-powered women who work a > bajillion hours and are content to have their kids > raised by nannies. (Yes, I’ve met many of them.) > Their values simply differ from mine. I remember > one woman saying that she doesn’t see her kids M-F > and often has to travel for work on the weekends > (internationally). But she was fine with that > because it’s “quality over quantity” and she has 2 > good nannies for her 2 kids. > > And yes, I think the child factor will always be > an issue. My husband is home with our kids, but I > feel guilty/lousy when I don’t see them “enough.” > And my version of “enough” appears to be quite > different from that of my male colleagues. > Perhaps this is in moms’ DNA, even when they have > the same spousal support/setup their male > colleagues have. Or maybe I’m just odd. you said it yourself… Their values simply differ from mine.
I’ve met plenty of women who “want to have children” more than they “want to be a mom.” It’s a peculiar type of woman who sees children as “something on their checklist to have accomplished,” and not real human beings that need care and love an attention. To them, it’s fine to have the children raised by nannies, because the whole point of having children in the first place is to hit their life targets and prove how successful they are. It’s ok not to be there for their kids, because it’s about the mother’s own ego, not the kids’ development. I’m not saying in any way that *most* women are like that, but there are a fair number of them out there, and a lot of them are attracted to finance because it fits with the other things on their checklists of accomplishments. A fair number of them do pretty well in finance, and only have trouble when the neglected kids turn to drinking and drugs, because they at least get some attention from their other friends who do it, and might even get some parental attention (hey, my mom and dad actually DO care if something bad happens to me; sadly they may care, but again, for the wrong reasons - they’re worried about a family embarrassment more than the kid’s well-being). There’s obviously a role for a father here too, which I haven’t mentioned, and historically, it has been socially acceptable for a father to behave more or less like this. The challenge is that there are many children growing up this way in which both parents pretty much end up being “visitors,” while a third party nanny actually does the child-raising.
Exactly, bchadwick. I don’t get that traditional absent father concept either, and I don’t understand dads having kids only to not see them. I have heard that, for a man in finance, having kids is a benefit perception-wise. It shows you’re “normal.”
cfa2grunt Wrote: ------------------------------------------------------- > Exactly, bchadwick. I don’t get that traditional > absent father concept either, and I don’t > understand dads having kids only to not see them. > I have heard that, for a man in finance, having > kids is a benefit perception-wise. It shows > you’re “normal.” I dont see my wife much so am I am “absent” husband? I mean everyone is different…
I work at a boutique IB, and even in the boutique realm, women are hard to come by. Luckily, I found a firm that could care less what my gender is, though I know they had concerns when I was interviewing, because they asked one of my references how I would handle an all-male environment. I experienced the good ol’ boys club more in the corporate finance world that here, but every firm is different. As for managing the work-life balance, it’s definitely an issue. This field doesn’t exactly encourage good parenting. Luckily, I don’t have to worry about that just yet, but it is a concern.
My wife left his career (non finance) after our first kid was born. She tried to go back to work a few weeks later but she felt she was being a bad mom. A number of her friends subtly criticized her choice but she didn’t care. She hired a nanny anyway and after our second kid we had two nannies AND she didn’t work, so I don’t actually understand how she was being a good mother, but anyway, I always lose that discussion. Now she’s trying to come back but will try to do some easy work, just to feel she’s back doing something else.
I don’t even acknowledge women in my department, like walking on egg shells. (sexual harassment)
^ I’m sure they all must think that you’re just playing hard to get!
Do you have kids, goldenboy? If not, then you’re not the “absent father” type I referenced. You can do whatever you like. As I said, everyone is different. I simply don’t share the same values as someone who produces offspring to raise them by nannies. If you’re not a father, then we’re not even talking about the same thing here.
I am a father and want the best for my family. Nanny or no nanny I dont put them before much but when duty calls… well duty calls.
is this thread a joke? a businesswoman…isnt that an oxymoron???
martha stewart started out in finance…
mar350 Wrote: ------------------------------------------------------- > martha stewart started out in finance… she ended in jail. see what happens when a women ventures into something she shouldnt?