Level of female City workers rises during year
27 October 2014
The proportion of female workers recruited for jobs in the City has increased over the past 12 months from 20% to 29%, according to research by specialist recruitment firm Astbury Marsden.
Mon, 27 Oct, 2014The proportion of female workers recruited for jobs in the City has increased over the past 12 months from 20% to 29%, according to research by specialist recruitment firm Astbury Marsden.
The surge in the number of women working in the City is evidence that the gender diversity programmes, put in place to attract and support female workers, are beginning to have an impact on the make-up of the City’s workforce, says the recruiter.
Astbury says the composition of the City’s workforce is changing as it hires more and more of the output of the best international business schools and universities, and “leaves its image as an old boy’s club further and further behind”.
For example, several investment banks have recruitment initiatives targeted at female undergraduate and graduate students, or ‘return to work’ schemes to attract women with previous City experience back to the industry after taking career breaks for family reasons.
‘Back office’ functions, such as fund services, saw an increase in the proportion of female workers, with women accounting for 64% of the workforce this year.
Ratings agencies were the most balanced employers in terms of gender, with an equal proportion of male and female workers.
Similarly, the improvement in the proportion of women has been faster at less senior levels within the City, with a 15% increase in the proportion of female staff at analyst and associate level. Women now make up 40% of staff in these more junior roles.
In senior roles, there have been smaller increases in the percentage of women, as the vast majority of positions at the level of director and managing director continue to be occupied by men.
Astbury Marsden suggests that this may be, at least in part, because of a higher drop-out rate among women, as just 10% of female staff in the City are aged over 50, compared with 21% of male workers.
The surge in the number of women working in the City is evidence that the gender diversity programmes, put in place to attract and support female workers, are beginning to have an impact on the make-up of the City’s workforce, says the recruiter.
Astbury says the composition of the City’s workforce is changing as it hires more and more of the output of the best international business schools and universities, and “leaves its image as an old boy’s club further and further behind”.
For example, several investment banks have recruitment initiatives targeted at female undergraduate and graduate students, or ‘return to work’ schemes to attract women with previous City experience back to the industry after taking career breaks for family reasons.
‘Back office’ functions, such as fund services, saw an increase in the proportion of female workers, with women accounting for 64% of the workforce this year.
Ratings agencies were the most balanced employers in terms of gender, with an equal proportion of male and female workers.
Similarly, the improvement in the proportion of women has been faster at less senior levels within the City, with a 15% increase in the proportion of female staff at analyst and associate level. Women now make up 40% of staff in these more junior roles.
In senior roles, there have been smaller increases in the percentage of women, as the vast majority of positions at the level of director and managing director continue to be occupied by men.
Astbury Marsden suggests that this may be, at least in part, because of a higher drop-out rate among women, as just 10% of female staff in the City are aged over 50, compared with 21% of male workers.
