We overheard male classmates bond with internship interviewers about fantasy football drafts. We were taught that Warren Buffett and Benjamin Graham were the best modern investors. We witnessed senior men sexualize younger women employees. It is no wonder we came to fear our gender would keep us from achieving the same level of success as our male peers in finance.
What Will It Take to Make Finance More Gender-Balanced?
Sweden is considered to be one of the most gender equal countries, but has gender equality in Sweden’s finance industry progressed further than it has in the U.S.? The authors (two finance students and their professor) surveyed 60 finance professionals — ranging from partners in top investment banks and senior members of VC firms, to junior traders and entry-level financial consultants — and interviewed 30 in more detail. They expected to see equal representation of women and men in senior leadership positions in Sweden than in the U.S., but this didn’t turn out to be true in the more masculine fields of finance, such as venture capital, investment banking, and securities. Their findings suggest that the country you work in matters less for gender equality than your field. When they asked interviewees why there is a lack of women in their firms, the most common response in both countries focused on two reasons: a masculine culture and long working hours.