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--
As someone woman have called a "pig"/slapped in the face multiple times in my life, it's pretty easy to fit in/change misogynistic frat type coworkers mind; just do what any good analyst would do: Turn in great work, have a good attitude/easy to be around, lose the chip on the shoulder/get over yourself, be friendly/nice but not mealy, & keep controversial opinions to the bear minimum.
Every time I was in an awarding of an Scientific Olympiad in my country (Brazil), I found strange that there were much more boys than girls, and it was a truth since 6th grade until High School. Well, I could not accept that there were nothing wrong with it because I knew some very intelligent girls. Before I get into High School, I studied in a regular class and some of the best grades were from girls, they potential was tremendous but they simply did not want to dedicate to this side. When I moved from my school to another and entered in a class focused in Sciences (Math, Physics and Chemistry) I realized that the majority of boys were a problem not just in the Olympiads, but in this area (STEM) itself (ant least in my country, but I believe that it unfortunately extends to other places as well). For me, it’s impossible to assume that this situation is due to a kind of “difficult” that girls would have in this subjects, as some supposes, even because some woman that I know are more than excellent at them. I believe that it’s a result of cultural scars left by a past in which girls were destined to stay in home and take care of things, a work that does not necessarily require much study. Than boys mass-dominated the STEM area. And now, due to the lack of representativity, the young girls don’t see themselves in this areas as much boys do. They do not look and imagine they being successful at it because very few were. They basically judge themselves as incapable and the shore as impossible. Of course, it’s not true, but some of them think it is. And so, the lack of women in this area causes a lack of women entering in this area… a loop. A sad loop…
Furthermore, women tend to be more cautious than men. They could be great assets for managing the less risky funds, as well as coming up with solid fixed-income investments. Although it is exciting to risk and watch the stock market volatility, asset management businesses need a “devil’s advocate” on the safer side, which is a great role for a woman to take. That is not to say that women can’t also make risky investments, but that is just the general consensus of psychological and sociological studies that I have read in the past.
“My biggest advice to women who want to save more money is to make more money,” said financial expert Nicole Lapin, the winner of GOBankingRates.com’s 2015 Best Money Expert competition. “When you stop looking at your financial life as something of deprivation and more of something as aspiration, that’s when you actually feel comfortable of taking control of your own finances.”
In some cases, educated, independent, breadwinning women seem to have an aversion to the idea of being an investor. About five years ago the Washington, D.C.-based Women's Institute for a Secure Retirement was running a series of investment seminars to help a group of nurses prepare for retirement. The institute was interested in part for research purposes, because nurses would be highly educated and, presumably, interested in investing.
Top GWI Takeaway: “An important thing to realize is that there are certain types of financial firms and investment strategies focused on doing some sort of social good. We’ve been learning about ESG investing, which is Environmental, Social and Governance Investing [which refers to three central factors in measuring the sustainability and ethical impact of in investment in a business]. That is something directly designed to make things better, but through the use of financial tools. We also found out about foundations and investing for not-for-profits. All of that combined has shown me that there is still a way to be in finance and pursue some form of public service. I was very interested in law and politics from the social-good perspective, and I’m seeing those worlds align with finance.”
Do you need to hear that again? Nothing will make as big a difference in your retirement account balance as the amount you save. Even just adding an additional 1% can tip the scales significantly. A 35-year old earning $60,000 a year who puts an extra 1% (roughly $50 per month) into her retirement account will have an extra $3200 per year to live on in retirement (assuming a 7% rate of return and 1.5% raises.)
Not only are these items expensive, but political currents in many industrialized nations are reducing the contribution government makes toward these items. Decisions in corporate America are going the same way, as employers and insurance providers offer more expensive and less comprehensive coverage. All of these trends can result in higher expenses for the elderly, as they are forced to pay increased copayments, higher premiums and increased out-of-pocket expenses.
For example, take the key values that underpin success at MUFG. Vanessa shed light on them: ‘They are partnership and accountability (working in a team and taking responsibility for your contribution both as an individual and as part of the group), innovation (coming up with and implementing new ideas), integrity (how would you behave if it was your grandmother?), and urgency (taking action in a timely manner).’
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Top priorities of retirees also seem to differ from those of non-retirees. The retirees’ top priorities include maintaining their standard of living (29 percent), followed by spending time with loved ones (27 percent) and maintaining their health (23 percent). Despite that nearly one in five non-retirees hope to make traveling the world their top retirement priority, only 5 percent of retirees have prioritized traveling.
Figuring out how much you should invest vs. set aside in a short-term savings account comes down to how much risk you’re willing to undertake. Year over year, the market has been steadily rising, but that doesn’t mean that a return is guaranteed. The golden rule is to never invest more than you’re willing to lose, especially if you’re going after aggressive or volatile markets.
Like anywhere, you'll form friendships and business relationships with the people you gel with best - a lot of these may be males, as there are more males in FO banking than females. There are downsides to being a female in banking, but there are also upsides (the unfortunate reality is there can be downsides to being female in many professional environments; it's not limited to banking).
First, you need to have a dream; second an idea of what your goal is and third, passion. Obviously having the skill set and working hard are important, but if you don’t have a dream and a goal, then don’t be surprised when you don’t get there. And if you don’t fill your dream with passion, then you can become disheartened about your career choice during the tough times. And there are always tough times in a cyclical business like finance.
thank you again. i am going to copy and paste that post for future reference and may indeed trouble you further for some guidance in the future so thanks in advance for your generousity. intuitively your comments ring to me. it is probably true in many fields that female coworkers are being accepted more and more, ON THE CONDITION that they are proven to be assets to the team and to prove one's worth, one probably has to come in earlier and leave later to be better prepared and ready to help at any moment and possibly rely on some maternal instincts to be mindful of the big picture. still, it won't hurt to know that generally speaking, the work environment in IB is not so hostile to females that it is uphill battle day in and day out even if one's work speaks competently for oneself. thanks for providing the clarity and reassurances.
MS. JOSEFINA URZAIZ: Thank you. First of all, well thank you, I'm very grateful to be here and honored to be part of this as a mentee in this week. Our organizations that lead have the goal to alleviate poverty, and the way we do this is by empowering women in rural communities in Mexico where I'm from. We employ 900 women who hand weave the hammocks from home, so I don't break that family structure. And to give you perspective, each hammock takes about two weeks to weave because they do it in their spare time, and the impact that we have reaches 3,200 people on an everyday basis.
2. In a team work, Woman are are worst performer, They are very good pal , sharing tiffin in canteen , going market along , but in case of official hiererchy, woman always want a man boss. I dont know what is the philosophy, but i seen, I felt- so I am writing. decision is in your hands. The result suffers due to poor co operation between the woman , and ultimately they blame to Glass Ceiling - that is not true.
MS. CRONSTEDT: But it's, it's a field that I'm very, very passionate about, and as we've been talking today, like what does it take for women to be successful or the communities to be prosperous? Well, it takes that you can have a choice. It's all, it's about the choice that you can have, that no mother and no parent/family should be forced to stay at home with their children just because they couldn't afford it. You know? I have three boys in like three years. Like having the money in preschool it would have been so extremely expensive that I maybe and probably wouldn't have been able to take that risk. I wouldn't have the financial means. So, that is a real, it's a very, it's a gap that I'm very interested into looking into very deep, and try to do something about.
"When it comes to thinking about women in powerful positions, we are too often blinded by the daggers of the mind, infected by the malignant mind bugs that mire us in the prejudices of the past," IMF Managing Director Christine Lagarde once famously said. "We need a 21st century mentality for women’s economic participation. We need to flush away the flotsam of ingrained gender inequality."
I tell clients all the time that the most powerful weapon they have when it comes to investing is time. Time even beats out money—relatively speaking—if you have enough of it. Here’s an example: If you invested $10,000 at age twenty, and it grew at 5 percent (a pretty conservative rate, historically), you’d have $70,000 by the time you were sixty years old. The same investment would get you only about $43,000 if you started at thirty, and only $26,000 if you started at forty.
MS. SPELLINGS: Well, and there's been some research on this of course, and you know, I used to say in speeches, you know, women don't feel uncomfortable saying huh, I can't balance my checkbook. You never go around saying huh I can't read, and it's almost okay to, you know, be, you know, phobic about numbers, or check out of those things. And I think we let our girls check out at early ages and have it be okay, but you're not, you're not good at math, or you're not good at science, and that that's kind of socially acceptable, and I think we have to confront those myths because it ends up being, you know, if you're not skilled and facile in math and at the seventh and eighth grade in algebra you're unlikely to be a PhD physicist. And so, we let our young girls check out of math and science at early ages and then we're off the path to those high potential fields going forward. And so, I think we all need to challenge ourselves, and when we say that to ourselves and our daughters check it.
Partly because of this dynamic, she said there's often a career premium for women who are young and beautiful. "You get a lot of beautiful young women in banking who find themselves replaced by a new generation as they get older. - I've seen older women being made to hand their accounts to 22 year-olds. They complain, but they were in that position once - they were the 22 year-old who took another woman's clients. Women don't help each other."
Become a mentor. The study found that 45% of women report not having a financial role model. Closing the wealth gap could deeply benefit from inter-generational collaboration. While Millennials expressed the least amount of confidence in investing, members of the Boomer and Silent Generation cite higher confidence in investing. That knowledge could be a vital resource for Gen-Xers and Millennial women. Being able to learn from other women's experiences around financial planning and planning time out from the workforce can play a key role in creating effective strategies that keep family obligations from reducing earning potential and investment opportunities. The study found that 77% of women see money in terms of what it can do for themselves and their families. Women in the study stated that understanding their finances is key to greater career flexibility (84%). That flexibility, and sharing the wisdom around how to get smart on investing, can be key to closing the wealth and pay gap permanently.
In my experience (MM firm, about 4k in size) there is absolutely no discrimination against women. If you are bright, driven, and add value, you will succeed... regardless of what may or may not be hanging down yunder. There's no question that the C-suites of Wall Street are dominated by men... but look at the generation. Management generally is in their 40-60's, that puts the start of their career in the between the 60's and 80's... during that time, there was definitely a good deal of sexism in the office. I'd argue that's largely gone the way of the wind.
I think the summer curriculum of this nonprofit organization is very helpful. It mentioned that there are much fewer women professionals than men in the financial market. This may be due to the industry’s prejudice against women. The industry tends to consider women have less advantages than men, or women have more commitments not only to work, but also to their families. Some of these thoughts are true, but some are not. Women need more mentorship and empowerment. As the articles mentioned above, these students brought not much understanding before the camps. After the camps, however, they learned about, and mastered financial knowledge and tools. This learning process will benefit and illuminate their own future.The potential of improving women’s financial knowledge is very big. But the existing problem is that women just are not getting the right guidance and empowerment. For example, these teenagers. They didn’t have much financial knowledge. But through this project, they started to be familiar with finance, and understand finance. With a more positive understanding of money, their life may be improved .
In fact, looking at actual data is one of the best ways to counteract the fear of investing. For example, are you afraid to invest in stocks because you remember the painful declines of the financial crisis? Well, in spite of the 36.55 percent plunge in the S&P 500 stock market index in 2008, this index gained an average of 7.25 percent annually between 2006 and 2015.
If you qualify for extra savings on out-of-pocket costs OR want more of your costs covered: Silver plans probably offer the best value. If you qualify for extra savings (“cost-sharing reductions”) your deductible will be lower and you’ll pay less each time you get care. But you get these extra savings ONLY if you enroll in Silver plan. This can save you hundreds or even thousands of dollars a year if you use a lot of care. Even if you don’t qualify for extra savings, Silver plans offer good value — moderate premiums and deductibles, and better coverage of your out-of-pocket costs than a Bronze or Catastrophic plan provide.
From what I've seen as a dude, the women who are most successful are the ones who are competent, confident, and drama-free. The biggest mistake I've seen is women trying to imitate men. It's a mistake, because what a lot of people think "men" act like is usually not how the most successful men act. You've almost certainly got a massively better ability to read people than your male peers, better soft persuasion skills, and you look better. Be pleasant, be professional, and most of the younger guys wont' care. Can't speak for the older ones.