Is Buyside Culture Horrible Everywhere?
I'm a few years out of college and starting to feel like there's no shop on the buyside with good culture (based on my experiences and peers' experiences, particularly in the private credit space). I'm a woman and I knew that working in finance would be very male dominated, but the behavior I've witnessed to date has been absolutely atrocious. Every single day my male colleagues make a variety of misogynistic, racist, and homophobic comments, tease me for what I'm wearing, and only discuss other women in the industry in the context of whether she's hot or a bitch. It genuinely makes me question if I'm even going to be evaluated fairly when it comes time for performance reviews because I've never once heard them talk about a woman's actual ability at her job. Other shops seem to be just as bad in terms of men trying to divert deals away from their female colleagues / excluding them from team events / bosses not letting them go to networking events while a guy can take a whole day off to golf with the sell-side.
It's frustrating because I actually enjoy the work I'm doing (when I get the look on deals), and the lifestyle at my current shop is pretty good. Does my experience sound particularly bad, or is this just par for the course in the industry? Don't necessarily want to give up the lifestyle if it's just as bad everywhere else, but for the right culture I'd certainly consider it.
Based on the most helpful WSO content, your experience, unfortunately, aligns with many of the challenges women have reported in buyside roles, particularly in male-dominated environments like private credit and private equity. While not every shop has a toxic culture, there are recurring themes across the industry that make it difficult for women to thrive. Here are some key insights:
Toxic Behavior and Misogyny: Many women in the buyside have shared experiences of being subjected to inappropriate comments, exclusion from key opportunities, and a lack of respect for their professional abilities. For example, one woman recounted senior men discussing her private life instead of her investment views, making it clear she wasn’t being taken seriously in a professional capacity.
Cultural Red Flags: Some funds have glaring issues that are often visible even before joining. For instance, if a fund has no women in its investment staff or a history of poor treatment of female employees, it’s often a sign of deeper cultural problems. One contributor noted that such red flags are usually "pretty damn out in the open."
Lifestyle vs. Culture Trade-Off: While some shops may offer a better lifestyle, the cultural issues can still persist. Women have reported being excluded from networking events, having deals diverted away from them, or being pigeonholed into roles that don’t align with their career goals.
Finding the Right Fit: There are funds with better cultures, but they may require more diligence during the recruiting process. Suggestions include:
Supportive Networks: Some women have found success by seeking out mentors or allies within their firms. However, this isn’t always easy to replicate, and the lack of systemic support can make it challenging.
While your experience sounds particularly bad, it’s not unique. There are shops with better cultures, but finding them requires careful diligence. If you enjoy the work and lifestyle, it might be worth exploring other firms while keeping an eye out for red flags during the interview process.
Sources: Q&A: Buyside women, Q&A: Buyside women, Why don't more women go into PE?
Particularly bad. This is horrible this is happening to you.
Aside from legal avenues, the most important thing is that you extricate yourself from that situation. Let me know how I can be helpful.
And name and shame
Sorry to hear, absolutely not normal. Feel free to dm, happy to help strategize.
(Though I’ve never revealed, also a female, and we need more of us in this career. Don’t give up!)
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