There is no denying that gender discrimination exists in many industries,
but nowhere is it more prevalent than on Wall Street. The past 10 years
have seen more gender discrimination lawsuits brought by women against
financial institutions than any other type of employment discrimination
suit. And yet the problem persists.
The high power and high paying jobs on Wall Street are still filled predominately
by men. Oftentimes women find it challenging to break into the next level
because of the glass ceiling that exists and the inaccurate stereotypes
about women that have been perpetuated for many years.
The U.S. Equal Employment Opportunity Commission (EEOC) has reported that
the percentage of women in senior positions is lowest in the securities
industry. The EEOC further indicated that it is more difficult for women
to gain entry into management positions than their male counterparts.
Despite the lawsuits and the statistics reported by the EEOC, the demographics
of Wall Street firms have not changed much with respect to women. Women
continue to be relegated to lower level, more administrative oriented
jobs and are denied the opportunities that men are afforded simply because
of their gender.