Rise Up Program – Money 20/20 : Gender Equality Has A Long Way To Go

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  • Money 20/20, sponsored by Visa recently announced the results of an industry-wide survey at the Money 20/20 event in Las Vegas

 

  • The survey is part of an annual initiative under the newly formed Rise Up program, that will analyse whether the industry’s talk of change in the Financial Services is actually resulting in a more inclusive environment for both men and women

 

  • The survey polled 751 professionals, mid-to senior-level, in the Financial Services industry in the United States, and showed the following results:
  1. 76% of people (men and women) agreed that there are more men than women at senior levels in their organization (VP level and higher). 68% of men believe the number of women at senior levels will increase in the next 2-3 years, but only 45% of women feel as positive
  2. Women believe that, for more women to reach top leadership positions, more needs to be done to diversify the talent pipeline. More than half of male respondents believe that not enough women are applying to the top leadership positions
  3. 69% of men said they feel that women and men are paid equally for the same job within their organization, only 28% of women felt this way
  4. Only 62% of women said they feel confident they will be welcomed back following maternity leave, and 88% believe a woman’s career path is more negatively impacted by family obligations than their male colleagues’
  5. When asked what it will take to change the status quo, both men and women said they feel strongly that men should play a role in promoting gender equality in the workplace; men are significantly more comfortable than women in raising issues or concerns related to gender inequality, with many women not wanting to be labeled as complainers or potentially facing negative consequences
  6. Despite half of respondents saying that they are aware of diversity and inclusion initiatives within their organizations, 36% of women said they do not feel promotion and advancement of women is a priority for their employer.

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