US Top Tier Banks stand one step ahead in terms of male-female parity
Emolument.com has examined 2014/2013 salary and bonus data from 2,780 professionals working in Origination, Advisory, Trading, Sales and Research in London.
- In the early years, men and women are paid the same: but while compensation is the same, the female population is already vastly under-represented, especially in Top Tiers US banks where women make up 10% of their analyst class.
- In the late 20s and early 30s, women not only keep up but outperform men: women overtake their male peers both in terms of base salary and bonus!
- And then maternity leave hits! Female bankers in their early 30s are impacted by maternity leave: base salaries decrease by 11% between the age of 32-37 while total compensation decreases by 15% over the same period.
- Are US Top tier banks much more sensitive to male-female parity? While women find it more challenging to enter banks such as JPM, Morgan Stanley, Goldman Sachs, they have better career prospects: at VP level, women represent 13% staff vs. 6% at European banks
Robert Benson, CEO at Emolument.com, said "Clearly the banking industry still has a long way to go when it comes to gender parity. Most concerning are not necessarily salary figures but rather female/male population ratios from the very early stages of a career in finance."
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