MS. KATZIFF: Well thank you, we do appreciate the feedback and agree that there's a lot of talented women in our organization. But we have had women's programs, women's development programs for years, decades now. One of the things that we did realize though is there was so many around the globe, in the United States and around the globe that last year we realized that there would be some significant power in pulling that all together. So, we have made significant progress but if we came up with a common core mission. And so we formed an umbrella organization, the Investing in Women's Council, at the beginning of 2016 and I am very lucky to be the Executive Sponsor and Leader of that. And we came up with four additional kind of core common goals for us. One is attracting, hiring, retaining women. One is in addition to broad women we realized we really needed to focus on ethnic diversity as it relates to female leadership, and pulling up ethnic diversity in women to higher levels in our organization. Also, just development programs in general. We had tons of them, probably almost too many, and how to depict the few that were extraordinarily impactful, and then track women along the way after they went through the programs. And the last thing we called out as a focus, Margaret mentioned, which was the advocacy, and how do you bring men and women into the fold to being very strong advocates every single day, and how do you bring that to work? So, those are just some new things we have been doing in the last year, year and a half to push it forward.
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Women approach risk differently than men do. Studies show that men are more inclined to behave like baseball sluggers, who swing for the fences, even if it means running the risk of striking out far more often. Women, by contrast, are more like contact hitters, who are satisfied with a string of singles. These tendencies show up in various forms. For example, a 2013 study by Fidelity Investments found that men were much more likely than women to hold 100% of their assets in stocks. Openfolio’s data show that portfolios owned by men are subject to far wider swings in value. The problem is that investors who strike out frequently because they’re always trying to smash home runs can undermine their results.

But it may be more accurate to say that women are more risk-aware and less deluded about their financial competence. A study in 2001 by Brad Barber and Terrance Odean, academics in the field of behavioural finance, showed that women outperformed men in the market by one percentage point a year. The main reason, they argued, was that men were much more likely to be overconfident than women, and hence to carry out unprofitable trades.
So, it was, it was an amazing experience. We went through her business plan. You know, I have a finance background so most of the work we did was on the finance side, helping her focus a little bit more. She was a social entrepreneur who donated a lot of her time and energy to her community. So, for a year we never physically met. We spent time on Skype and on e-mail. You know, as mentors we just assume that we are giving, but we learn so much from each other, and when Zoe, I can't refuse anything to Zoe, when she reached out and said you know what? " Vital Voices is looking for Global Ambassadors, do you want to donate one week of your time?" So, I'm actually on leave. So, I'm not here for UN Women, I'm here for myself. I thought it was important that as women that we share our experience, that we empower others. That's how we move the needle. As you know, women empowerment we've been talking about it for years. You know? Beijing 1995 when Hilary Clinton said women's rights is human rights, and Beijing plus 20 as we call it, and we are still talking about the same issues. And the power of partnership, you know, for us it's critical that as individuals that we give back, that private sector, banks, also participate in this global agenda. The world has set up some objectives that you might want to Google, it's called Sustainable Development Goals that we want to all reach by 2030. There are 17 of those. If you only have to remember two there's number 5 which is gender quality, and number 17 which is partnership. We cannot do it separately. Public sector, private sector, and of course civil society organizations have to partner.
There’s also a concept I think you should be familiar with. It’s called passive investing. The idea is that it’s smarter to invest across the entire market and then not pay attention to it, than it is to pick stocks or pay someone else to pick stocks. It’s easier and less expensive, and historically it’s been more successful. In fact, Warren Buffett made a $1 million wager that passive investing would beat hedge funds—and he was right. It’s why he advises his heirs to invest passively with their money.
MS. KATZIFF: Well thank you, we do appreciate the feedback and agree that there's a lot of talented women in our organization. But we have had women's programs, women's development programs for years, decades now. One of the things that we did realize though is there was so many around the globe, in the United States and around the globe that last year we realized that there would be some significant power in pulling that all together. So, we have made significant progress but if we came up with a common core mission. And so we formed an umbrella organization, the Investing in Women's Council, at the beginning of 2016 and I am very lucky to be the Executive Sponsor and Leader of that. And we came up with four additional kind of core common goals for us. One is attracting, hiring, retaining women. One is in addition to broad women we realized we really needed to focus on ethnic diversity as it relates to female leadership, and pulling up ethnic diversity in women to higher levels in our organization. Also, just development programs in general. We had tons of them, probably almost too many, and how to depict the few that were extraordinarily impactful, and then track women along the way after they went through the programs. And the last thing we called out as a focus, Margaret mentioned, which was the advocacy, and how do you bring men and women into the fold to being very strong advocates every single day, and how do you bring that to work? So, those are just some new things we have been doing in the last year, year and a half to push it forward.
So, I came home and I reached back out to CARE and I said how, you know, "What can I do? How can I help?" They were like "Oh, that's exactly what we were hoping." But it was hard for me to just engage in maternal health. They do a number of different programs and I was like very specific I want to do something in El Salvador, and I wanted to do it now. And that's really not that easy to do, and so I came back home, had my son, no complications, and started to plan my course. And that really started with going back to school. I worked on a Masters of Public Health at Columbia University, and starting my first documentary film, which was called No Woman, No Cry, and came out in 2010. And that, that experience was almost like a thesis. I mean I went to four countries and spent several weeks in those countries, just really looking at what are the barriers? What are the challenges? And what are the solutions? And really focusing on the what is possible side of that equation.
“Today’s retirees tell us they are experiencing a very different retirement than non-retirees are envisioning,” said Levine. “With continuing savings challenges and potential economic uncertainties ahead, non-retirees should have a plan in place and regularly revisit it to make sure it still aligns with what’s most important to them for their retirement years.”
Janet Cowell’s words mean that the diversity of gender brings us different perspectives. The integration of a large number of women workforces can add fresh blood to the industry. In my opinion, women are conservative in the asset management industry and are not as venturous as men. This more cautionary mindset enables women professionals to manage great assets for the less risky funds, while male professionals may encourager bigger risks. A company without women is like a car without a brake, which will run into risks someday.

Annuities are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York, annuities are issued by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Variable products are distributed by Jackson National Life Distributors LLC. May not be available in all states and state variations may apply. These products have limitations and restrictions. Contact the Company for more information.
Barbara Swenson has several years work experience in the areas of accounting, real estate investing, marketing, financial management, insurance, and independent book publishing. She’s written numerous articles for AllBusiness.com, and is a Contributing Writer for Retailing Insight. She was also a Contributing Editor for the international magazine Magical Blend, and has penned articles for Aquarius and NAPRA Review magazines. She has written and published 25 personal transformation books in the last twenty years. Barbara holds a Bachelor of Arts from California State University Sonoma (with honors), and a Masters Degree in Science from California State University Sacramento (with honors). She lives in the Sierra foothills with her husband and son, two huge white dogs, and four cats.
As you near your retirement, you should start moving some of your risky investments to safer avenues such as Debt Mutual Funds. But don’t give up investing in equities yet. Inflation will have a huge impact on your savings once you retire and equities are the only investments that can save you in the long run. Ensure that you have set up different income sources so that you don’t run the risk of lower returns from one income source. 

First up, a woman in one of the most male-dominated industries of them all: investment banking. Sure, we've heard the horror stories of 100+ hour workweeks, fraternity-esque hazing of entry-level employees, and of course, rampant sexual harassment. But it's probably not all The Wolf of Wall Street. To get the record straight, we're talking to an entry-level investment banking analyst. 
Moreover, I also imagine the finance industry to be intimidating by nature. To me, it requires people to make quick and sound judgments, as well as be competitive and cutthroat. However, these perceptions were based upon myths and Hollywood movies designed to generate revenue and not create awareness of the industry. They, therefore, may not match reality. This is why I believe that Girls who Invest are playing a major role in changing the perception women have towards the asset management industry. They are doing so by tackling the issue by its roots — educating young women about the industry and destroying myths and untrue perceptions. Also, by aiming to transform the finance-industry landscape with the inclusion of women in finance, GWI is working towards benefiting the industry as a whole.
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I'd second hanging out with the guys part. I remember sitting down with an MD during my summer stint on an S&T desk. It was a sell day and I remember him asking me, "Why do you want to be in S&T? Honestly. Are you an idealist who wants the save the world or something?" and I just responded "..I just want to make a shitton of money." Honest? yes. Did I read him correctly? Yep. He subsequently became a great mentor that summer. I never went into S&T but we're still in contact.
It’s called impact investing, and it is designed to deliver competitive investment returns — while also working to effect positive social and economic change. Our Ellevest Impact Portfolios are designed to do this by advancing women; it is our view that what is good for women is good for the economy and society… and what’s good for the economy and society is good for women, too.
Well, I think that it summarizes what I think about this topic. Maybe Wharton’s Investment Competition will have more girls participating if it adopt some measures, like maybe a “runner up prize”, with symbolic values, to the best girls team, or maybe a rule that teams with more than six participants need to have at least one girl (it won’t stop anyone to participate but would make the incentive between students for a higher participation of girls). But as I said, 27% is a number that makes me ate least optimistic, because it reveals that girls are interested in this field and are fighting for it too. Now we have to try to increase this percentage, and movements like Girls Who Invest take a key role on it.
Money Motivation: “I’m really interested in technology, and my interest in finance started with cryptoinvesting. Four years back I read the Bitcoin Whitepaper and I thought it sounded like an amazing technology. This was before everyone started talking about cryptocurrencies. People thought I was crazy buying bitcoin, but it ended up being a great investment because last December it jumped up to $20,000 and I had bought it around $1,000. I sold my bitcoin then and made $7,000. I still have .22 of a bitcoin just in case it goes up again. I started by learning the fundamentals. Right now there are so many different cryptocurrencies people are trying to buy in these initial coin offerings, but if you don’t dive into the fundamentals and understand how the technology works, you could get scammed and lose money. You shouldn’t put money into something that you don’t understand.”

although it sounds great---i am not being argumentative--that more females are getting into fields previously dominated by males, i think it is still an uphill battle thus important to get a feel to the environment and culture. there may be unwarranted traditions, but there may also be some practical considerations, that is, some fields are better suited for one sex vs the other for understandable reasons. say, most top surgeons are males. heck, most top OB GYNs are males!


“It is important to broaden the students’ awareness of the various career paths to help them understand the magnitude of opportunities beyond investment banking,” Scott said. “Ultimately, we hope that all our students build on the skills they learn in the classroom and in their first destination jobs to find their area of interest. We regularly talk to the students about their careers being a marathon, with many pivots, twists and turns. It is not a sprint.”
These factors, coupled with women’s lower average wages and greater longevity, go a long way toward explaining why men’s poverty rate in retirement is half the poverty rate of women. “My real concern is that the retirement-savings crisis is a gender crisis, and we are not talking about it that way,” says Sallie Krawcheck. “Women can save more and invest more. They have to find a way that works for them and just do it.”
Despite the attractiveness of the competitive story pitting men versus women in a contest of investment prowess, the difference in their returns is not dramatic. For example, a study in the The Quarterly Journal of Economics reported that "Trading reduces men's net returns by 2.65 percentage points a year as opposed to 1.72 percentage points for women." Clearly, like beating an index, the difference between success and failure is generally a game of inches, not miles. With that in mind, every penny counts, and pennies paid out in fees are pennies that are not working on your behalf. Over the long-term, lower fees can make the difference between a few extra dollars in your wallet or a few dollars that you do not get to take home.

Today, gender equality is in the spotlight like never before. The #MeToo movement has encouraged countless women to share their stories about being harassed at work—myself included. Powerful men have lost their power, while powerful women (hi, Oprah) are putting their platforms and their money into stopping workplace harassment and abuse. It’s been incredible. And it’s just the beginning.
In recent weeks, Knowledge@Wharton High School began noticing young women on the Wharton campus in Philadelphia, Pa., U.S., who were wearing hats and carrying bags inscribed with three simple words: Girls Who Invest. Since we happen to know lots of girls with this interest – thousands from around the world have participated in our annual KWHS Investment Competition for high school students – we decided to look further into this intriguing GWI sorority. Who were they? Why were they here? And were they truly stock market devotees?
I was partially being sarcastic. However, I think the comment probably holds some merit, as unfair as it may be. In addition, I don't think that it relates only to finance, but in business in general. I think from a hiring standpoint, for whatever reason, appearance absolutely can play a role in the decision-making process. I also think that, again for whatever reason, it probably plays a bigger role when the hiring decision pertains to a female.
MS. TURLINGTON BURNS: If I could be so bold in front of a room of fellow entrepreneurs and business people, but I would say, because I'm probably grappling with this a little bit now, so much of this organization really just happened. You know, like I had an experience, I was motivated to learn more, I made a film. Like all of these things were things that I didn't really stop and think like, "Big picture, long term, what is the impact I want to make?" And so, I'm trying to create that time as we're growing and as we want to continue the work what we're doing to create that time for ourselves as a team, but also just an individual who's leading the organization to like, you know, to what end? You know? I'm always asking because when I started it I really didn't want to replicate other efforts, I didn't want, you know, there's a lot of organizations, and a lot of even organizations working on this issue. How could we be of value, and how could we be a different voice, and how could we engage more people? So, I would just say to ask yourselves those questions too as much as you can, and not to like just let life go. Obviously hard work too, but really to, you know, check in and see like, "Is this the vision that I had? Is this the right vision for now?" You know, be flexible, be open-minded, and follow your heart.
As a female, I've been recruiting for IB this year and have been overwhelmingly pleased with the support and steps that firms are taking to improve the workplace for women and attract top talent. GS, MS, JP, BAML, Barclays, RBC, and Evercore each hosted all-day women's events where you can speak to bankers at all levels that have balanced families and banking long-term. Many of my male colleagues have perceived being a female as an advantage in the recruiting process, however, there is definitely a minimum threshold to cross to get an offer. Banking is inherently less appealing to females that are considering families where long hours are difficult to balance, but all of the women I met communicated the culture of respect and equality at their institutions. Feel free to PM me if you want to talk!
MS. CRONSTEDT: So, I, a year after participating in the program, sold my first business and simultaneously, I started a new one based on the knowledge and the tools that were given to me in the Global Ambassadors Program, which was a more successful company, just in short. Which was an online catering company that exists to this day, and that has--
MS. TURLINGTON BURNS: Yeah, I mean I feel into my first career. I was very young. I think I started modeling when I was about the age of my daughter now, which is shocking in a different way. But because my mother is from Central America and I spent my early years traveling a lot around the world, but particularly to Central America I just was really aware of disparities. And coming back and forth from communities abroad and then communities back home because there are also populations with a lot of need here in the U.S. And I think as a young person being able to travel a lot and take that information in I think, you know, it's sort of led me on a path of not knowing exactly what but wanting to be a purpose of use. And so, it took time and I wouldn't have thought my career would take me there, but I certainly got to see a lot of the world through that industry in my work as a model. And then, you know, as soon as I was only a model and I wasn't a student and a model I wanted to go back to school. I knew that like okay this is great and I'm getting a lot of freedom and I have a lot of opportunity but I want to go back to school. So, I think I— things didn't really slow down for me in my career but I made a conscious effort to go back to undergrad in my mid-20s.
“It is important to broaden the students’ awareness of the various career paths to help them understand the magnitude of opportunities beyond investment banking,” Scott said. “Ultimately, we hope that all our students build on the skills they learn in the classroom and in their first destination jobs to find their area of interest. We regularly talk to the students about their careers being a marathon, with many pivots, twists and turns. It is not a sprint.”

In their 20s, women choose their career path which sets the tone for their future. Equities can be a good investment choice in your 20s, as you can take more risk when you are young. You can choose to invest in Equity Mutual Funds for your long-term goals as Mutual Funds give you the benefit of professionals managing your money. You also need to take a suitable Health Insurance plan at this age. This will take care of your medical emergencies. You must also make sure that you have sufficient Money Market Funds or Liquid Funds to help you during emergencies. This should be the right stage to decide your long-term goals. Plan in such a way that the long-term investments that you make, give you good returns at the right time.
“If you look at China and India, there’s a vast majority of people that are moving from one class to the next class, and that’s happening here in the United States as it relates to minorities as well,” Abercrombie said. “People are investing more; they’re wanting to save more, and they’re wanting to get more involved with financial planning outside of just a general savings account.

Men were also significantly more likely to take more risk than the platform’s algorithms advises for them. Interestingly, the moves didn’t come as a reaction to one particular headline but the markets themselves. “We see people in general move toward stocks when stocks have been up the last 7 days – and toward bonds when stocks have been down the past 7 days,” Swift says, acknowledging that this is the antithesis of what investors should be doing. The key is to try to understand who you are and how you’ll react to market moves. Making an appointment to check your portfolio once a month rather than when the spirit strikes may be the better idea. “The more active you are, the more inclined you are to participate.”
“The more women manage funds, the more funds get channeled into issues women care about,” says Nathalie Molina Niño, CEO of Brava Investments. “When someone brings on one female fund manager, we’re talking about potentially billions of dollars that get moved in a different direction.” She says that questions like “How many of your fund managers are women?” used to be rare in the industry, but now that more and more people are asking, large institutions are getting nervous—mostly because the answer is often “none” or “few.”
1. Get in the game. Women are participating in their employers’ retirement plans at the same rate as men. The problem is, they typically save less—an average of 6.9 percent of pay compared to 7.6 percent for men, according to 2013 a report by Aon Hewitt. Many also don’t contribute enough to take advantage of any company match. This makes it harder for women to build sufficient savings to fund retirement. In fact, according to the Aon Hewitt report, women have average plan balances that are significantly less than men’s, consistently across all salary ranges ($59,300 for women vs. $100,000 for men). The solution? Bast urges women to take full advantage of their retirement plans as soon as possible. “The key to building wealth is to start early, set aside as much as possible and always contribute at least as much to get any employer match that may be available.”
Textbooks and school supplies. Course materials could eat up a large chunk of your budget. The average estimated cost of books and supplies for in-state students living on campus at public four-year institutions in 2016-2017 was $1,250, according to the College Board. Also plan for purchases like notebooks, a laptop, a printer and a backpack, and read the do’s and don’ts of back-to-school shopping for money-saving tips.
With all of these factors working against them, women have very different outlooks on retirement than men. Indeed, Jackson's recent investor survey revealed some significant disparities. In addition to the gender pay gap, there also appears to be an investing confidence gap between men and women. While 46.2% of men reported that they "have plenty of investing confidence," only 30.3% of women said the same. When asked about their current level of financial knowledge, less than 10% of female respondents stated that they "have all the financial knowledge [they] need to make appropriate investing decisions," compared to more than 17% of male respondents. Lastly, the gender pay gap could be at least part of the reason women are more concerned than men when it comes to saving for retirement. 52.4% of women cited "saving enough for retirement" as a top financial concern, compared to only 42.7% of men.5
“The Reserve Banks are vital contributors to our nation’s economic and financial success. I’m excited about the opportunity to work with the Bank’s well-respected staff in advancing the excellent reputation this organization has built over many years,” Bostic said. “In my role as president of the Atlanta Reserve Bank, I also look forward to confronting the challenges the Federal Reserve faces in today’s increasingly global and rapidly changing economy.”
I was partially being sarcastic. However, I think the comment probably holds some merit, as unfair as it may be. In addition, I don't think that it relates only to finance, but in business in general. I think from a hiring standpoint, for whatever reason, appearance absolutely can play a role in the decision-making process. I also think that, again for whatever reason, it probably plays a bigger role when the hiring decision pertains to a female.
2. Make “friends” with risk. Women prefer to preserve wealth even if it means giving up higher returns. Take a 51-year-old attorney (who preferred not to give her name) as an example; she has consistently contributed the maximum allowed by her law firm’s retirement plan. “I know I should be investing in stocks, but I don’t want a repeat of 2008. My money is parked in a money market fund, where I know it’s safe.”
J.P. Morgan runs a recruitment programme called Winning Women, which gives female students the opportunity to discover the different areas of investment banking and learn about internships and the roles open to graduates. I recently participated in a networking event for the Winning Women programme, where I shared my experiences with students, and they also had the chance to meet female leaders from the bank and ask them questions about their careers.
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