Catalyst for Women in Financial Services

1268 words 6 pages
The Catalyst for Women in Financial Services

May 9, 2012

University of the Incarnate Word

Table of Contents

Executive Summary……………………………………………………..__

Project Description………………………………………………………__

Literature Review………………………………………………………..__

Research Questions……………………………………………………..__

Methodology….………………………………….………………………..__

Sample…………………………………………………………………………__

Main Findings….…………………………….….………………………..__

Expected Outcomes….………………………………………………….__

References……….………………………………………………………….__

Executive Summary

In 1996, Pamela K. Martens, Judith P. Mione, Roberta O’Brien, and 22 others filed a class action suit in U.S. District Court, New York, against Smith
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Nine focus groups of women and men in the industry were conducted. Six of these groups included only women participants, two included only men, and one mixed gender group. To reflect the experiences of industry employees across the country, Catalyst conducted focus groups in New York, Chicago, and San Francisco. In addition to the focus groups, Catalyst conducted in-depth interviews with six women who left investment banks and/or brokerage house to start their own firms. Catalyst mailed a survey to approximately 2,200 potential respondents, men and women employed within the seven leading firms. 838 members of the sample responded (38%), 482 women (57.5%), and 356 men (42.5%) To measure job satisfaction, Catalyst used a multiple-item evaluation including current position satisfaction, satisfaction with employer, work schedule control, career advancement opportunities, opportunities for networking and mentoring, and compensations fairness. To assess barriers to advancement, Catalyst used a multiple item 5-point scale exercise. Women’s perceptions were significantly different compared to men’s for almost all of these items. Four elements were used to assess fairness: • Assignment of clients • Opportunities for Promotion. • Pay for Performance • Rewards for Performance

Sample

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