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Promoting Women to MD in Investment Banking: Multi-level Influences

Pryce, P. and Sealy, R. (2013). Promoting Women to MD in Investment Banking: Multi-level Influences. Gender in Management: An International Journal, 28(8), pp. 448-467. doi: 10.1108/GM-11-2012-0095

Abstract

Purpose: Women remain underrepresented at senior levels in global investment banks. By investigating promotion processes in this sector, and using the concept of a multi-level, relational framework, this paper seeks to examine macro, micro, and meso-level influences, and the interplay between them, as explanations for why more progress is not being made.

Design/Approach: Data is taken from two projects with a total of 50 semi-structured interviews with male and female directors and managing directors, across six investment banks discussing careers and promotions. An inductive approach was taken to data analysis.

Findings: Women’s lack of representation at the top of investment banks is not simply an individual level problem but is the result of the dynamic interplay between macro and meso-level influences which impact individual agency, identity and perception of fit.

Research Limitations/Implications: Public debate should be refocused around the meso-level influences of what organizations can do to promote more inclusive cultures and structures thereby enabling more women to achieve Managing Director positions in investment banking.

Originality/Value: The paper considers challenges women face in their promotion to Managing Director using a multi-level framework demonstrating the impact of each level and their interconnectedness. It contributes to the limited qualitative research exploring the career experiences of senior level individuals in global financial services firms.

Publication Type: Article
Additional Information: This article is (c) Emerald Group Publishing and permission has been granted for this version to appear here http://www.emeraldinsight.com/doi/abs/10.1108/GM-11-2012-0095?journalCode=gm. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited
Publisher Keywords: Meso-level influences, women in banking, relational processes, work identity, career success, organizational culture, financial services, professional service firms, promotion processes
Subjects: B Philosophy. Psychology. Religion > BF Psychology
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Departments: School of Arts & Social Sciences > Psychology
URI: http://openaccess.city.ac.uk/id/eprint/4755
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