Casualties of the Crisis: Stress, Sexism and Layoffs Thin the Ranks of Women on Wall Street
FINS: Women are disappearing at brokerages, investment banks, and asset management companies, despite new programs designed to recruit and retain them. At the same time, the ranks of men in the industry are continuing to grow, which suggests that Wall Street has a long way to go in combatting sexism and other factors in banks, insurance companies and other firms.
In the past 10 years, 141,000 women, 2.6% of female workers in finance, disappeared from the industry, while the ranks of men in the industry grew by 389,000, or 9.6%, according to a review of data provided by the federal Bureau of Labor Statistics.
The numbers suggest that women bore the brunt of the layoffs in the recent recession and sexism is still a problem in U.S. banks, insurance companies and real estate firms.
Young women, in particular, are becoming a rarity in the country's banks, brokerage houses and insurance companies. Since 2000, the number of women between ages 20 and 35 working in finance has dropped by 315,000, or 16.5%, while the number of men in that age range grew by 93,000, or 7.3%."