15 Comments
 

Is water wet? There’s programs specifically designed for women. It’s bullshit.

 

Orders of magnitude easier to get in but sticking around by choice and retention on the part of the firms is less likely. It turns out most women smart enough to get into the industry also realize the tradeoff required to grind long-term and would prefer to have families / live their lives. And good for them, I sometimes wish I had that option.

"If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

Welcome to the real world. All the propaganda you've had shoved down your gullet in college and from the media that being a woman is oh so hard and being a man is easy street turned out to be complete BS - whoa look at that

There are advantages and disadvantages both sexes face. In terms of who has it better or easier completely depends on the goals of ones life. But if your goals are anything short of being a C-suite executive, it probably is advantageous to be a woman.

When it comes to recruiting, if you are a borderline attractive woman it is absolutely easy street. 

 

You're asking this on WSO

I mean it's not like they get an auto free pass, it's only easier in the sense that there are fixed, reserved seats for women (let's say many banks commit to hiring 50% of women in the analyst class). Because there are less women APPLYING, it's easier as a woman, ex ante

Edit: I find it interesting how there are still less women applicants altho women outnumber men on college campuses. What does that say about things? Maybe that will change

 

Easier to recruit, harder to stay hands down.

Speaking as a woman here, was doing L/S equity and was on track to become PM, but quit for lifestyle reasons. First of all nobody gives you a "female" discount once you're done interviewing, if anything they assume you must not be working as hard because everyone's got 24 hrs a day and aye you've got a husband + kids? So flexibility doesn't exist, if anything you need to show some extra dedication to relieve their "OMG she's a woman" anxiety.

Furthermore, to make it at a large institutional investor you need a stay at home spouse. How do I know? Because all the women who climbed did. My husband works in PE so scheduling was sometimes impossible. And at some point after my maternity leave I figured why am I bending over backwards, playing the politics game, putting up with crazy earnings seasons, travel, when I have a beautiful family at home?

Finally, networking as a woman for top jobs internally is much harder unless you're at a firm where women in investment functions are not a small minority (do they even exist?). Especially if you're pretty! Why? Because there are men who are either predators (bad news) or men who are not idiots so will play it safe. I.e. they don't want their wife or office colleagues pin them for helping the hot blonde.. because we all know what that might imply ;)

To add insult to the injury, a couple times I saw complete id*ots with a track record to back that up get promoted because they knew how to play golf and they were white, tall male and reminded the big boss so much of themselves when they were young. Funny how that works!

Anyways, I am happy now, investing family money and raising a small fund myself. Let's see if raising as a female is easier ;)

 

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