As 100 Women in Finance (‘100WF’) celebrated its 20th anniversary the organization continues working toward the goal of Vision 30/40 – where 30% of senior investment roles and 30% of executive committee roles will be filled by women by 2040. Despite the progress being made it is apparent there is still work to be done in specific areas of the industry regarding Diversity, Equity, and Inclusion (‘DEI’).
As part of a proactive response to this, in 2022, 100WF created the Industry DEI Award (‘Award’), which included an in-depth application process that’s goal was to identify and acknowledge companies that have created and implemented specific and deliberate action to advance DEI in the workplace.
Additionally in 2022, 100WF conducted the Global MidCareer Survey (‘Survey’) to gain insight into the efforts being made by employers. Data was collected from the perspective of the female employee when asked pointed questions. Questions were designed to further understand and address where gaps still exist in attracting and advancing diverse female talent from varying backgrounds.
The Survey, designed and launched by key members of the MidCareer London Committee, Chair Yulia Galasyuk (Citi) and Committee Member Elena Koycheva (Bluebay Asset Management), together with the 100WF staff, is a way to assess and interpret the information gathered from the Survey to explore ideas to bridge existing gaps facing mid-career female employees in the finance industry. It also exposes unique conflicts facing mid-career women that their male peers don’t typically need to address.
The Survey included over 500 women for this specific target group who participated and responded to the global survey, with a concentration in financial centers such as London and New York. The vast majority of respondents represented the asset management, hedge fund and banking sectors, with the balance of roles representing business development, investment analysis, portfolio management, and operations. Sixty percent of the respondents were based in the Americas with 30% in Europe and the remaining in the Asian-Pacific region.
Questions included: ‘Do you think you are compensated for the role you do’?, ‘What should firms do to ensure their cultures are inclusive of women of all backgrounds (ethnicity, class, culture)’?, ‘Have you been considering a professional pivot/career change?’, ‘Does your employer have an internal women’s network’?, ‘Have you considered or participated in a return-to-work program?’ etc.
Analyzing data collected in the Survey provides insight into the essential roles mid-career female employees play in organizations: finding a balance between being accountable to senior management support while also being front-line support managers for their teams. These numbers reveal the areas that mid-career employees express would be useful for financial institutions to implement more clear and specific expectations with consistent follow up. By recognizing the unique challenges in which mid-career female professionals face, such as juggling both family and work responsibilities, help companies implement policies to address these obstacles and avoid losing important roles filled by women in the finance industry. The insightful Survey brings awareness to the perception of mid-career women in the workplace, the steps companies are making to expand DEI within the finance industry, and the target areas that need improvement.
To read the complete MidCareer Survey Summary document click on the link below.
Members can view the webinar discussion relating to Results of MidCareer Global Survey follow the link below.