Calling all part-time Mothers
The Big Three consulting firms have recently been making an initiative to get back its female workers. A significant majority of women who spend their early 20s as consultants or investment bankers leave when they have children. This loss in female talent has cost firms down the line and now, they're reaching out to those who have left during maternity.
Banks such as Goldman Sachs have returnship programs which target employees who have not worked for years. The biggest obstacle many of these returnees face? The high expectations they feel when they walk back into the office - the need to crush every assignment and go above and beyond.
Not only do they offer returnship programs, companies like McKinsey also offer slower paths to attaining Partner if one decides to work part-time. Making Partner by working part-time sounds great? Right? Well, the going joke, according to a former consultant, "was that working half-time was still 40 hours a week."
Anyways, if any of you female monkeys out there are planning on having children, there's still the opportunity to foster your children and rake in the dough.
Source:WSJ: McKinsey Tries to Recruit Moms Who Left the Fold by Leslie Kwoh
This is pretty interesting. I'm of the mind that having female perspectives in major professional environments is definitely a plus. Giving some level of flexibility to mothers is a good thing, in my view.
I remember the Iceland chapter in Michael Lewis' "The Big Short," and how it explained that the most successful financial firms in Iceland were essentially all run by women.
I haven't read the book, but the only thing that comes to my mind when I hear banking and Iceland is this: "Relative to the size of its economy, Iceland’s systemic banking collapse is the largest suffered by any country in economic history" (http://en.wikipedia.org/wiki/2008%E2%80%932011_Icelandic_financial_cris…) Damn those women...
The female run firms were some of the only ones to survive.
Co-worker's wife is MD at top tier BB and only works 3 days a week now but had to take a 40% paycut once she went from 4 to 3 days.
I think the idea of 'returnships' is phenomenal for these companies. It's a great way to get overlooked talent.
Vero eveniet rem earum velit laboriosam veniam cupiditate. Autem autem odio suscipit enim. Qui nobis ipsam accusantium praesentium. Voluptas eos et quia voluptatem non aut velit molestiae. Ex nobis minima exercitationem vel nulla eum vel officia. Quo deserunt harum voluptatem illum quo.
Excepturi totam dolorum perspiciatis repudiandae. Vero soluta aperiam aut natus. Enim magnam quasi magnam.
Nulla voluptas minima molestiae similique accusamus. Dolor atque sit dignissimos non libero et dolorum error. Qui eveniet aut aut saepe et. Eos atque suscipit est vitae assumenda. Ut molestias et dolorem dolorem sint. Neque architecto earum voluptas repudiandae ut itaque sunt.
Sint at voluptas provident magni maiores sapiente. Beatae voluptatibus reprehenderit ea cumque. Et quod odit illo fugit minus distinctio. Ex voluptatibus eligendi excepturi quo quod praesentium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Et perspiciatis eaque molestiae itaque magni tempore. Quasi doloremque itaque aut sint illum. Minima aut explicabo et est. Fugiat ut quibusdam sit voluptas distinctio vitae eum. Assumenda labore quis in consectetur unde iusto. Dolorem iure adipisci optio id soluta. Exercitationem quae quas laudantium nulla quia est.
A nostrum beatae nobis atque. Tempore suscipit et nihil accusantium. Ab fuga repudiandae et assumenda. Assumenda amet architecto quo dolorem esse at. Id et ipsum eum ipsum officia. Provident est enim molestias.
Sunt fugit ducimus quaerat distinctio inventore ad. Non ipsum harum provident qui aut est sunt. Sit odit adipisci excepturi facilis. Nihil distinctio aliquid aut fugiat.
Est ipsa quidem maxime veritatis non nesciunt perspiciatis vero. Dolores sint molestiae qui ut corporis laborum. Omnis deleniti enim odio ipsam. Ea nisi esse eius quidem reiciendis voluptatibus. Deserunt molestiae iste consectetur. Hic quia reiciendis qui illo modi ut. Debitis vel quas amet sit.
Dolorem placeat magnam sed. Distinctio sed consequatur ad voluptas expedita quam sed non. Amet et temporibus autem ratione dolorem cumque.