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Is there still a gender bias in finance related jobs on Wall Street?

I was just wondering if it is still harder for women to advance in a financial career since I want to work on Wall Street when I'm older. #finance #job #interviews #career

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Amit’s Answer

Yes, there is still a gender bias not only in the finance industry but in all industries. You can see it by the number of women in the industry in general and especially women in leadership. With that being said, it is up to us to break walls, ceilings not just for ourselves but for other women as well.

1. Do not be intimidated by job descriptions, and apply even if you don't have all the qualification. (Men are really good about that)
2. Connect with other like minded women through different associations to find mentorship and sponsorship. Women who joins these organizations are usually open and willing to help other women. (Ellevate is one organization out of many that are out there)
3. There are programs for young women like yourself that can help you on your way to wall street (such as: rock the street wall street)
4. Most importantly, be tenacious, resourceful and always pass it forward.

I hope this helps.
Amit
Thank you comment icon Thank you so much! Rasya
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Daniel P.’s Answer

Agree with all of the above, but there is a HUGE effort underway to reduce gender bias at the best firms. There are lots of programs designed to help underrepresented folks (check out https://wiiin.org) and especially to educate all on the positive impact (increased revenue, profits, market access and investment) to having a well diversified team. Now there are respected roles for leaders who focus on Diversity and Inclusion at most major firms. More and more large investors will not do business with an organization that is not shown to commit to, and be successful at diversifying their workforce. So bottom line (I say as a da of a 17 year old girl) this is the best time in the history of the world to be from an under served community going into the workforce ... and its only going to get better each year!

Daniel P. recommends the following next steps:

check out https://wiiin.org/
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Richard’s Answer

Yes, there is undeniably a gender gap, especially in leadership. But, inclusivity and diversity programs are already having a tangible impact, and the bias is shrinking rapidly at lower levels!
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Kelsey’s Answer

Just because this bias exists (in all industries unfortunately) it doesn't mean you won't be successful! You may notice some behaviors that are frustrating, hopefully nothing truly demeaning or egregious, but you'll find that other women will be your strongest allies!

I wanted to add to Amit's first point, as I think it is so, so important! It took me until I was 30 to realize I was shortchanging myself whenever I wouldn't meet one requirement and decide not to apply. Once I decided to start applying anyways to roles I was interested in I found that the "requirements" are very often just a nice to have, idealized list of an imaginary perfect candidate.

Also, I can't recommend doing your homework on salary enough. Just looking up average salary for that role in the area and across companies will give you invaluable information and help you be confident when it comes time to negotiate!
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Susan’s Answer

Hello,

As a high performance mentor. I teach individuals and students like you to not look at circumstances but look at what you REALLY want. If you believe in your self and believe in your goal and dream, took all the right action steps towards your goal. Then you will be the best regardless any other things.

- Focus on what you want,
- Make action plan.
- Read books and magazines that helps you in this career.

Please take a look in The Gardian, first FEMALE LEADER. You will be one day like her:

https://www.google.com/amp/s/amp.theguardian.com/business/2018/may/25/stacey-cunningham-nyse-first-female-president-wall-street

I hope this info helps you!
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stefan’s Answer

Hi Rasya,

Unfortunately, gender bias still exists not only in finance but in most, if not all fields. Racial, social, and economic biases are also present.

However, don’t let this stop you. Don’t allow other people to define who you are or what you want to become.

We must be mindful of our own actions and behaviors. Biases can be blatant and obvious. They can also be subtle and done subconsciously. We should try to have courage to speak out against them when we can so they don't go unchecked.

We cannot control the behavior of other people, be we can control our own.

Good luck and keep learning!
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Mariana’s Answer

The Financial industry still have a huge gender bias. Woman participation is growing on last year and probably your generation will find out a better place to work than ours.
Try not to be intimidated by that. Keep in mind that your gender should not limit your capability.
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Walt’s Answer

I agree with Amit's answer: bias exists, but so does opportunity - especially for ambitious and dedicated young women like you! Wall Street desperately needs more female leaders and is beginning to wake up to that reality, which means that they are increasingly investing in recruiting and mentoring programs for female financial professionals. Still, finding established female financial mentors, tenaciously pursuing the opportunities that you want, and diligently studying the industry to demonstrate why you'd be such a great asset to any bank are going to be the best ways to get ahead.

Banking is a highly competitive industry, but can be both a rewarding and lucrative career path for those who are passionate about it and invest in their own professional development in the field (through education and mentorship) as Amit advises above. Good luck to you!
Thank you comment icon Thank you so much!! Rasya
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Cecilia’s Answer

Indeed, it's true that bias still exists in finance-related professions, and it's not just limited to that sector. This unfortunate reality extends to many other areas of the economy as well.

However, I encourage you not to let this deter you from chasing your dreams. Be true to who you are. Stand your ground. Carve out your own niche. Seek inspiration from those who have paved the way before you.

I've personally experienced this in my tech career, a field largely dominated by men. I've faced my fair share of bias, but I've managed to thrive through patience and resilience.
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