What Factors Impact the Career Advancement of Women Managers in Banking

Over the past few decades, great strides have been made by women in the workplace. This increased number in women in the workplace does not mean equality however. Even with equal qualifications and achievements, women are still not given all the opportunities that men have. The chapter in the textbook, “Gender at Work”, shows us more of these inequalities in the workplace. Such inequalities cause gender segregation of jobs and can be linked with the pay inequality in the labor force. Even in jobs that are predominantly filled by women, men earn more than women. Women are often stereotyped as being family focused and not as able to travel, therefore they tend to get passed up for promotions (Garson p.353). This invisible barrier that keeps women from moving up the executive ladder is referred to as the “glass ceiling” (Baxter and Wright p. 346). Women also tend to do more domestic work, or unpaid labor and caregiving. This extra unpaid work is referred to as “the third shift” and is largely rested on the shoulders of women (Gersel p. 352). Consequently, this seems to be one of the biggest things holding women back from taking on jobs that are normally considered male

This case study involves Deborah Westman and her work at the Bank of Montreal (BMO) as a junior employee. Deborah has aspirations of progressing within the bank to higher levels of leadership, but is concerned about possible barriers due to her gender that have prevented other women from advancing. The bank is actively seeking to provide better opportunities for women to attain key leadership positions through the use of a task force and new policies. Deborah is uncertain if she can take advantage of the increased awareness of women in the bank, and if the barriers to higher leadership will actually be removed. Possible strategies will be recommended for Deborah in order to assist in her career.

This myth has been perpetuated throughout history and in result; we have barriers such as the glass ceiling in existence. If we were to pull up a list of the Board of Directors for any given company, the probability of it being a predominately male group is high. This notion alone shows how companies have continued to dwell in olds days where men are considered more capable than women. The Glass ceiling effect has continued to place barriers against women endeavor in achieving success in their careers and participation in their work place. Women have not been able to realize their potential in their work places since they are not offered equal chances as compared to their men counterparts who enjoy great opportunities in organizations. The fact that an organization is ran by men, may cause an adverse effect on the performance of men. Obviously, a man thinks differently than a woman. It is likely that a decision made by men only is likely to ignore the interests of women in the organization. This creates a domino effect because it affects the woman’s performance in business since they only get limited chances to learn, and limited job assignments that will enhance their skills. Hence, low or limited skills and experience will lower their overall

"Women's advancement often stops short of the general management level" as a partial result of discrimination by white men in positions of power, which include the differences of developmental job assignments they are afforded (Ohlott 46). "Developmental job assignments have been found to be one of the most important factors in preparing both men and women for upper-level management positions" (Ohlott 46 - 47).If women do not experience these same job assignments, they may be less prepared than men for handling future upper-level management jobs. These types of job assignments lead to high-level positions, make managers more visible, and prepare them for future jobs. With men being in the top ranks of organizations in most cases, they are less likely to assign these challenging tasks to female subordinates (Ohlott 49). "Organizations more often move women into staff positions and out of functions central to a business" mainly because those making the staffing decisions are more interested in advancing their own careers (Ohlott 49).

While women make up 46.6% of the Fortune 500 workforce and 51.4% of middle management, according to Catalyst, in these companies they represent only 14.1% of executive officers, 7.5% of the highest paid and only 4% of CEO’s Despite the fact that women have a foot in the door with 4% of all CEO positions of the Fortune 500, the rest of their frame is stuck in the entry level, which is 46.6% of the Fortune 500 workforce. The difference is not in men and women; it is in masculine vs. feminine ways of thinking and acting. Both men and women incorporate masculine and feminine approaches (Forbes).

In the business world, being a woman in a male dominated world is not easy. A woman should move away from the virtues that was instilled to them as a young girl. Working in a male-dominated field, especially for a new up and coming female executive, a woman must always have

Thank you for sharing such an excellent post and drawing attention to such a profound and systemic issue in our global culture. Researcher Daniel Levinson in A Conception of Adult Development addresses the issue of the role of gender in adult life development. Levinson and his colleagues believed that women go through the same developmental periods as men, although some of the specific issues might differ between men and women. Based on the study, “the small proportion of women at senior management levels suggests that many women do not move beyond jobs in lower and middle levels of management” (Greenhaus, Callanan and Godshalk 323), indicating the reality of a proverbial glass ceiling.

According to Aeran (2014), another indicator of the “glass ceiling” is that women's career growth is hampered by the corporate culture, for instance, corporate policies and practices can maintain the status quo by keeping men in positions of corporate power, stating that women outperform in 'taking care' while men in outperform in ' taking charge'. These assessments are formulated based on opinions and the comfort level of employer or supervisor, not the academic qualifications of the eligible candidates or their level of experience. For instance, companies will often list the guidelines for promotion in standard operating procedures manual or the company handbook, when a female employee completes the requirements, the supervisors will generate additional prerequisites to hinder that employee’s upward mobility. These beliefs and practices hinder the growth of the company and makes it less marketable to the global community. In addition, to unclear promotional policies, companies also have to revamp their training manuals and outreach programs, so they can diversify the material to ensure staff

Over the last ninety years, women have battled to become equal with men in all aspects of life and work (Parcheta, 2013). Male domination and power has become the social assumption as gendered occupations and beliefs have been projected throughout society as the status quo. Though challenging, this status quo is still present. Women have manufactured huge developments in career and education training, but equal treatment to a man, pay, and promotions in the workplace still escape them. Sociologists have documented that gender is not mainly a role or identity. It is an institutionalized system of social practices for constituting people as two different categories; male and female, and organizing relations of inequality around that difference (Ridgeway & Correll, 2000). In categorizing gender as a social construction, differentiations between males and females help to develop gender difference.

Equal Employment Opportunity Commission (2011) found that 98 % of Fortune 500 CEOs are men, and 97 % of them are White. Women are not able to enter the career fields such as science, politics and business. “Although America has opened its doors to the 50% population women college graduates entering the working world, it has locked its gates on promotions above the first management tier, except for the few that were able to knock the gates down”(Lana 1). Lana reveals that it is difficult for women to earn higher positions even both genders have similar opportunities to get jobs nowadays. Women have gained their independence from a male dominated society and are rising to become less dependent on their husbands for financial support. Feminism movements not only have helped to raise the confidence and self-esteem of women but also helped them to get a better life from advocating gender equality. Thus, this shows that gender equality have been improved over the years but there are still gender Inequality due to the gender stereotype in our society.

For my research question I will be asking: “How is America making progress on gender equity?” Fundamentally, I believe that women are still misrepresented, and are still facing many challenges in the workplace, especially in the business world. The gender stereotypes play a considerable role in the way the society sees women as leaders. However, it will be judicious to consider the small but noticeable changes that have been made over the past years concerning gender equality in the American workplace.

The business world today is competitive. It's full of fierce, educated, and motivated people. For some people it's tough to rise to the top and for some people it comes much easier. It's not always about hard work! One might ask for a map to the yellow brick road, but few people are ever provided with it. Most people are stuck in an ocean making calculated guesses as to how they can reach land. Which route is the best? How much school is enough? How many certificates of accreditation is enough? How much work experience is enough? All of us ask these questions attempting to navigate our ships in a competitive world were only a few individuals ever get to their targeted career position. How many of those in leadership positions are women?

Gender and leadership? Leadership and gender? A journey through the landscape of theories start off by giving a statistical summary of percentages of women in higher echelon position in the workforce. With this information in the intro, the article quickly highlights the limited representation of women in exclusive positions in Fortune 500 companies. Next, the paper examines multiple theories why this problem exists in the workforce. The four theories examined are biology and sex; gender role; causal factors; and attitudinal drivers (Appelbaum et al, 2003, p. 44).

Exploring women’s career advancement in organisations: A case study of the banking sector in Cyprus

Gender in Management: An International Journal Vol. 26 No. 3, 2011 pp. 220-233 q Emerald Group Publishing Limited 1754-2413 DOI 10.1108/17542411111130981