Women in Financial Services
BAML hires more female interns as banks battle gender disparity
Mark.Freed / 18 Jul 2018
A recent report in Financial News congratulated a number of Investment Banks for nearly reaching a 50/50 graduate intake. But why? None of the Banks actually have a major problem at junior level. Bank of America for example has broadly 50% gender split among its lower quartile earners but less than 20% in its highest quartile earners (Gender Pay Gap Reporting). Goldman Sachs International actually already employs significantly more women than men in the bottom half of its earners. Shouldn’t we be asking and reporting on what ‘positive action’ these Banks are doing to promote and recruit more women into top half earning roles? The industry does not have a shortage of females!
Whilst graduate intake is important unless the industry can retain and enable these young women to reach their full potential then we will not see progress... More action needed at senior levels.
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