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Nearly all women working in finance believe they are paid less than men for the same work, and most don't feel they've made much progress when it comes to issues of parity. A survey by the Financial Women's Association found 96 percent believe they are on an unequal footing when it comes to pay - the same proportion as in 1998. Nearly 66 percent believe being a women puts them at a disadvantage to men in terms of their career the group said. Why? Lack of access to informal networks of decision-makers, mentors and high-profile assignments, the association said.
The FWA couldn't document any cases of actual pay disparity, according to CFO.com, but its president, Lily Klebanoff Blake, told the site, "perception is really important," in that it "may well affect (career) decisions by our members."
More women now believe conditions in areas such as the number of women on Fortune 500 boards, corporate programs addressing women's issues and on-site childcare have not improved since 2002, the trade publication Workforce Management reported. "Among the obstacles perceived to be mitigating women’s career advancement were access to flextime and part-time work, corporate culture, female stereotypes, family obligations and lack of line-management experience."
Blake told the magazine the financial industry has made progress in many area, but had to focus on follow through in order to make its efforts come to fruition. “A lot has been done, but a lot more still needs to be done in these areas,” she said.
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