WOMEN IN FINANCE MUST ASK FOR PROMOTION, UNLIKE MEN

23 Nov 2020 3:33 PM | Jean Murray (Administrator)

A survey by Australian National University and Ardea Investment Management of 2,000 finance industry professionals showed 76% of men were offered a promotion at least once without requesting it, compared with 57% of women.

Bloomberg  reports the study found that women asked for pay increases and promotions at the same rate as men, and there was no difference between their success rates in these situations. However, financial corporations offered men promotions they didn’t ask for more often than such offers were made to women. 

ANU researcher Bronwen Whiting said the findings offer evidence of a culture whereby promotions are offered to men without asking, and underscores institutional gender bias which has historically disfavoured women in the world of finance. The findings show continuous gaps and trends within the workforce, including male fund managers on average earning more than twice as much as female managers and men in compliance roles earning 76% more than women.

If this is happening in the finance sector, where else is this bias evident?  And is anyone measuring the gaps?

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