Investment banking-still male dominant?

With unemployment becoming a lingering grey cloud above the intellectual minds of many, the most noble step for students is to carefully carry out research into the careers options out there, but more importantly, decide which ones are best for each of them. With investment banking being amongst the popular career paths, the widely spread stereotypical view of its male dominance is becoming increasingly disputed.

Many go as far as questioning whether the financial crisis would have even occurred if there had been greater dominance of women within key roles of the financial services sector. Research by the Financial News in March 2011 showed that of the 200 most senior or executive bankers, at a sample of 20 renowned investment banks and corporate and investment banking divisions, just 17 were women, which equates to less than 8 percent or, on average, fewer than one women in executive positions at each bank.

Given such startling information banks have expanded agendas for equal opportunities and gender diversity to level the playing field. Banks such as Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, UBS and other competing rivals got together to host two ‘Footpath to Finance’ days in Sydney in the aim to target all high school students, particularly females, into this field of work by providing a greater insight into the available careers within investment banking.

Karen Butterworth, careers consultant at the University of Manchester’s Careers Service, said: “Generally, there are more males than females enquiring about investment banking, however over the past two years I have worked as a careers consultant, this has changed with a greater interest from females.”

The Careers Service offers plenty of help to all students in many specific fields of interest: “I have seen an increased number of females taking part in the group sessions we hold for students interested in investment banking maybe suggesting the spread is becoming more even,” Karen added.

Hence, it appears all is not doomed for the courageous business-women out there. Marjorie Scardino, the CEO of Pearson, an international media conglomerate based in London, is a great example of a talented business-women excelling in the field and is the first woman to head a top 100 firm on the London Stock Exchange. Investment Banking may be a tough path for women, but it is a possible one.