Ah yes. Always the problem. Wall Street executives trying to figure out to "retain" the "top-flight" women "they spend bundles to attract."
Wall Street is cutting edge when it comes to innovating and monetizing new ideas related to finance. Not so when it comes to women. The rough-and-tumble world of high finance remains among the handful of industries that have not figured out how to retain the top-flight talent they spend bundles to attract.
According to data provided by nine leading Wall Street banks to The New York Times this year, women, on average, made up 33 percent of analysts, a job filled mostly by those just out of college. Women represent 25 percent of associates (those with M.B.A.’s) and 14 percent of managing directors.
The reasons are, of course, complicated. Wall Street is among those industries not conducive to a balance between work and life, a critical factor for many women in their 30s and 40s. (Men complain, too, but more women say they leave as a result of it.) Midlevel talent gets lost in a sea of mediocre management. Younger women cite different priorities — changing the world rather than servicing it at its top levels.
And, of course, no discussion of women on Wall Street is complete without the mandatory mention of the expensing strippers issue.
Wall Street is starting to respond to these changes, but at the glacial pace one might expect of an industry that has to explain to its employees in explicit terms that outings to strip clubs cannot be expensed.
This Time the Wheeling and Dealing Wasn’t in the Men’s Room [New York Times]