Three Women Accuse Goldman Sachs of Gender Bias
Has anyone read this article yet this morning? Taken directly from CNBC:
“The number of women in management positions at Goldman dwindles as the level of management rises,” the complaint said, citing Goldman data that showed that women made up 29 percent of the firm’s vice presidents, 17 percent of its managing directors and 14 percent of its partners."
What do you guys think? Is this actually a problem in finance, or is it just the nature of the beast? I can honestly say that at my bank, in my department, there are probably 150 - 200 people total, and of those, MAYBE 15 are women...but here's where it gets really good -- of those 15 women, only about 8 have what I would consider "proffessional jobs" and the rest are administrative assistants/receptionists/operations.
Is this a problem on Wall Street? Is it a symptom of gender bias or is simply the nature of the industry? If you ask me, women (in general) do not necessarily have the desire or drive necessary to pursue a career in finance. Most of us in the industry would agree that it requires huge sacrifices, both in terms of your personal life as well as your career. For those of you out there with families who work 80-100 hour weeks consistently, how big of a purden does it take on your life?
I think that this suit will either a) get thrown out by the judge. As I mentioned above, the world of finance simply isn't equally represented by men and women, for various reasons. Thus, you can't expect the number of men/women in management positions to be equal, and if the number of men/women in these positions aren't equal, you can't expect pay to be either; or b) Goldman will settle and throw a fat stack of cash at these complaining housewives to get them to shut up.