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Is Aussie banking still a man’s world?

Are Aussie women failing to make their mark in banking because finance is still a man’s world?

A “blokey” or “boys’ club” culture prevails in Australian firms, according to a study based on employee interviews at 13 top companies, including finance giants AMP, CBA, Macquarie, Insurance Australian Group, St George and Westpac.

Women in Management: The Leadership Debate, written by Monash University’s Hannah Pitman, paints a testosterone-fuelled picture of the Aussie workplace.

Pitman rants: “Communication and decision-making styles attributed to women, such as being inclusive and collegial, are seen as incompatible with desired leadership traits of decisiveness and expediency.”

The senior females interviewed, above half of whom work in financial services, complain of exclusion and bullying by male colleagues. The men, meanwhile, are threatened by female success.

Is the glass ceiling closing in on women bankers? Are the best banking jobs still for the boys? Sheilas, speak out below.

Comments (14)

  1. Banking is worst that other sectors. it really, really is. Honestly, tha amount of bullS**t banter that goes on with the boys in my trading team – might as well be back at school

  2. ok, so how did I become an MD then? (I’m a woman – shock, horror)

  3. When will Girls stop whinging about being Girls? Stop hiding behind your skirts, there are plenty of women in senior roles in the Banking community, but they are the ones who back their own ability and don’t whine about “I didn’t get the job because I am a woman”. Banks don’t care what colour or sex you are if you perform you will be rewarded in terms of promotion and remuneration. If you don’t perform you won’t simple!!

  4. It takes a certain kind of woman to make it in the banking world. Men typically exploit the fact that they can get away with sexual harassment because it’s generally accepted. Stereotypically women have a more compassionate side therefore have a lower threshold for the amount of BS they can and are willing to put up with. That being said there are a few teams out there (1/1,000,000,000) that have a healthy impact on your life. To me? There are FAR more important things in life than money and I can happiness and a sense of accomplishment elsewhere (with a pretty paycheck to go with it). Ladies, for the most part you don’t want to put yourself in banking, if you can do it and you love it, and if it’s what makes you purr than good on ya!!!

  5. How long did it take for you to be recognized and promoted as MD ?

  6. Maybe KellyJ you do not enjoy banking because you have no grasp of the English language. Learn to spell before you criticise the banking sector. I do love seeing idiots who have no idea, criticise something they do not like.

  7. As a senior manager in an investment bank in London I see the male culture in my particular firm very hostile and full of Sh*t, the guys arnt the smartest, but they are bulshy and do deals at the pub… My last major investment bank role was with a swiss bank that did value diversity, it made a huge difference… All in all its a very hard place to play in…

  8. @ girlpower – No one said you CAN’T, just that it is ridiculously difficult once you reach the upper levels

    devilsadvocate Reply
  9. If you want to work in a woman’s world, put on your frock and go paint some nails. If you want to make big money in an environment where men have traditionally been in the majority, start growing some cojones. Sorry ladies, that’s just how it is.

  10. The banking sector is better than it was, but the boys’-club culture is still there. however, it’s not really an Australian thing, I mean when I was working in london there were plenty of court cases with women suing the big banks etc. It’s the industry – not the country

  11. If you can’t handle the banking banker, go teach kindergarten

  12. Think firms actually want to hire more women..give it ten years and teh more even gender split will spell the end of the macho culture we have now

  13. “inclusive and colleguial” doesn’t really describe the women i work with. try power b**ches, giving as good as they take – and more

  14. try being gay in banking!! even worse

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