The alarming findings underline that young women – born between 1980 and 1995 – in the finance space are leaving their jobs due to restricted chances to climb the corporate ladder, while others are deterred from going into finance altogether for the very same reason.
“This should be a wake-up call for those in the financial services sector to bring their diversity policies to life, redefine their definition of what makes a leader, re-evaluate how they develop their people and create a structure where women can thrive and not be stifled,” said Jon Terry, PwC’s financial services HR consulting leader. “Having visible female role models at all levels of an organisation will be an important step to show employees and potential employees that leadership positions are achievable for all.”
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The report from the professional services firm revealed two-thirds of women working in the industry think a senior level post with their employer is unobtainable. Comparatively, just 30 per cent of male counterparts have the same outlook.
Elsewhere, one in five of female millennials said they wouldn’t be interested in working in financial services because of its image. Insurance was the most unpopular sector that women would look to avoid, while asset management secured more favour as a result of senior female role models to look up to. Finance firms aren’t helping the cause either, according to respondents, as 60 per cent of women said the companies aren’t doing enough to encourage diversity. Furthermore, 70 per cent said their employer discusses diversity but the opportunities aren’t equal.Share this story