Ladies, If you want to climb the corporate ladder then DON’T work for a bank (or the law)

I was staggered to read in my copy of the ILM magazine, that although 55% of the workforce in the financial sector are women (higher than the UK average of 49%), this not reflected at senior levels. Along with the legal profession, banking allows few women to rise to the top.

Why is this?

One reason, cited by 72% of respondents to the ILM research was the attitude of senior managers. Many women also felt that the role could be incompatible with family life as, in reality, there are few genuine opportunities for  flexible working.

70% of women felt that having a high proportion of men in senior roles inhibited their career progress as it appears that they recruit “in their own image”. 

There is more.

In the ILM survey, only 22% of all respondents (both male and female) believed that banking was a meritocracy, while nearly half (48%) believed promotion to be more likely if you know the ‘right’ people and  mix in the ‘right’ circles than if you possess an outstanding ability to do the job.

It was widely considered that there is a lack of female role models at the top of the industry, especially those who displayed a healthy work-life balance and weren’t perceived to have ‘given up everything’ to get to the top.

However, the idea of a quota system to ensure more women were promoted to the top was unpopular with all. It is also widely held that having a stronger female presence at board level would be beneficial to the industry.

Does this sound familiar?

So what can be done?

Well, a shift in culture towards rewarding results would create a more even playing field. More flexible working arrangements were a popular option with both men and women. They do exist already, but most feel that taking advantage of the provision would adversely affect their promotion prospects, so it is not widely used.

Identifying specific stages in the career ladder where women tend to drop out of management would lead to research on measures to remedy the situation. Returning to work after maternity leave is one such ‘choke point’. It isn’t that women want preferential treatment, just an equal opportunity, and in a talent-driven organisation this would be available.

Now, many of these solutions may be beyond the power of the individual to implement. And I do accept that women don’t always present as confident and assured an image of their management capabilities as men.

But this can be easily remedied with coaching, mentoring and styling.

I have developed my unique 3 Step MAP System to address this very issue and enable you to move up the career ladder, as far as you wish, with confidence and style.

For more information please email me at sue@successandimagecoach.co.uk

Or check out my website at www.successandimagecoach.co.uk

For your FREE copy of my book “The Ultimate Guide to Personal Rebranding for Professional Women Climbing the Corporate Ladder” please go to www.freepersonalrebrandingbook.co.uk

Copyright © 2012, Sue Courtney – Success & Image Ltd. All rights reserved.