BARRIERS REMAIN FOR WOMEN IN THE FINANCIAL INDUSTRY

This post is written on behalf of Girard Bengali, APC.

BARRIERS REMAIN FOR WOMEN IN THE FINANCIAL INDUSTRY

On behalf of Girard Bengali, APC posted in employment law litigation on Thursday, January 17, 2019.

While there have been improvements in gender equity in the financial field, the industry still has a long way to go. For one, while there have been increases in women in higher level positions in finance, the very top remains highly male-dominated.

Also, women continue to face a lot of challenges within the industry that their male colleagues generally do not. An article on Financial Advisor’s website noted some of the biases that women still commonly face in finance workplaces. These include:

  • Pressure to conform with gender stereotypes and social norms
  • A higher likelihood of having their competency questioned and tested
  • Being subjected to “motherhood penalties” when they have kids

Sadly, women in finances also sometimes face sexual harassment or direct discrimination from bosses or colleagues.

These difficulties and challenges may be driving women out of the finance field. Rates of women exiting the field in the middle of their careers tend to be higher in financial services than is the case in other industries. So, in addition to causing problems for the women who face them, the current barriers to gender equity in finance could be significantly hurting the industry as a whole by driving away talent.

What would you like to see done to eliminate the roadblocks that women continue to come across in the finance industry?

No one should have to face discrimination or harassment at work because of their gender. When workers in the financial industry or other fields encounter such misconduct, skilled employment law attorneys can advise them on their legal options for fighting against it.

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