Thank you. I have this thread on my favorite bar and I am a frequent visitor to this thread, i may not comment most of the times but i am reading all the posts in this thread. Simply love reading them. Yes i did see PipnRoll, she is classy.
Just as we all thought that ***ism in society and in the financial sector was a thing of the past, a case like this reminds us that we have a long and difficult road ahead, even in our ‘equal’ society, even in 2015:
women could have such a tonic influence on the markets, why are there so few women traders? Why are women not pushing their way onto the trading floors, and why are banks and hedge funds not waving them in? Women make up at most 5 percent of the traders in the financial world, and even that low number includes the results of diversity pushes at many of the large banks. The most common explanations ventured for these numbers are that women do not want to work in such a macho environment, or that they are too risk averse for the job.
It is a difficult question that you answer; as a discussion point, I am going to change some of your answer, and represent it as follows:
[I]“why are there so few [B]black[/B] traders? Why are [B]black traders[/B] not pushing their way onto the trading floors, and why are banks and hedge funds not waving them in?”[/I]
And again, with a further change:
[I]“why are there so few [B]gay[/B] traders? Why are [B]gay traders[/B] not pushing their way onto the trading floors, and why are banks and hedge funds not waving them in?”[/I]
The point of re-writing these statements is that for every one of those groups (women, ethnic minorities, LGBT) you could ask the same questions, and indeed get a huge variety of answers: some feminists are
against ‘pink quotas’ in companies, for example, while others agree that without tangible targets by
companies it will all be too vague and companies will not commit to change.
Certainly, ‘women’ have not stopped pushing, just like ‘black’ and ‘gay’ individuals: what is often the
problem here, is that the worst examples of marginalisation from certain positions in companies show
how groups who enjoy privileged status will use subtle tactics to undermine people who are outside that
group, so it is not the fault of the individuals who try to get into the ‘inner circle’, but rather it is the fault
of the ‘inner circle’ who fear change and loss of control over keeping the circle closed.
In other words: there is no shortage of women talent in the financial sector, but until they will be seen as
second best or ‘not fitting in’, then even the best women will go unnoticed: the glass ceiling will continue
to exist for them, as for the other groups that I mentioned.
That is just one view, of course, but I strongly believe that positive action (e.g. quotas) would force
companies to change, as the egalitarian idea that it is ‘up to women’ has not really worked, thus far.
Yes - lots of national motoring organisations, some insurance companies and some clinical psychologists have noticed, analysed and acted on the fact that we’re statistically much lower-risk drivers for both fatal and minor accidents. But thanks for asking. :34:
I was following up on Dalal Belghitti’s lawsuit against her former employer, and I saw that she has now dropped it; whatever her reason (my guess is that the mental strain that she was already under meant that she could not face the added stress of what may have been a long fight with no guarantees of success), the problem at the firm she was at (Jefferies) will now probably remain unresolved, or risks going unchallenged anyway… These people who stand up for dignified treatment, who raise their hand when they are clearly being penalised for being women, are very much needed if the City wants a culture shift.
In this article from just three days ago, Rachel Savage looks at the issue of ***ism in financial sectors, quoting also some good practice to eradicate it (like at Deutsche Bank):