The financial services industry has one of the hardest glass ceilings for women to break through according to a recent survey from Edward Jones.
Almost two-thirds, 65%, of men and women who responded felt that women in all careers faced more significant barriers to advancement, and one-in-five said that the financial services industry was the worst sector for women looking for leadership roles. Those results were not surprising, but they do highlight a relevant concern for many women entering the advisor space, Edward Jones director of financial advisor diversity and female performance, Elizabeth Schehl, said.
I dont think it was anything where we found some revolutionary results so to speak, she said. But what it did was really confirm a lot of the conversations that were having with women interested in pursuing a career in financial services, but theyre hesitant for fear of a glass ceiling.
In the survey, which polled 1,010 men and women, 83% of those who said that women faced career barriers cited a male-dominated environment as the main impediment. The juggle of family and corporate responsibilities, inadequate policies for women in the workplace and a lack of adequate mentoring or a defined career path in reaching the executive board level were also cited.
Still, 49% of women surveyed reported that an entrepreneurial work environment was the most important job consideration beyond compensation and 67% of all respondents said women were the more ambitious of the sexes when it came to seeking out leadership positions.