Few women make it to the top in financial services
Only one woman CEO has been recorded among the top 40 JSE listed companies — and she has just retired, writes Soria Hay
It is not easy for a young woman to make her mark in the investment banking industry. Globally, the domain of investment banking remains a fortress of male domination. This is evidenced in the UK, where a government initiative requiring organisations to publish figures for the different amounts they pay men and women (the gender pay gap) has revealed a highly skewed employee base in leading British and some international banks. The figures, published in 2018, show that men earn almost 60% more than women on average at some of the UK’s top financial institutions, for the same jobs. It includes international firms such as Goldman Sachs and JPMorgan, which have large operations in Britain. Citigroup disclosed in January that its female employees around the world are paid just 71% of what men earn. Citigroup employs more than 200,000 people in more than 100 countries, and more than half of those employees are female. A Citigroup shareholder group that sought data on the pay gap said the...
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