The recession has not been kind to women on Wall Street. Consider these recent reports in the financial press: Even though women hold a minority of financial sector jobs, five times as many women as men were laid off after the start of the recession, according to Bloomberg News. Meanwhile, the pay gap between men and women in the industry, Bloomberg adds, actually widened between 2000 and 2007. The result is that while women in the broader work force have made significant progress toward pay and opportunity parity, they have actually lost ground on Wall Street.According to The Wall Street Journal, 9.6% more men are working in finance now than 10 years ago, but 2.6% fewer women. Among young workers, the numbers are even starker: 16.5% fewer women aged 20 to 35 and 21.8% fewer women aged 20 to 24.
In short, the number of women even choosing to work on Wall Street has dropped, and many of those who do start out there are deciding to leave or are being pushed out.
Source: Knowledge@Wharton
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