A study conducted by McKinsey & Co. last fall said women account for more than half of the entry-level financial services work force in North America, but only about 20% of C-suite roles. For the root of the issue, it’s necessary to go back to school.
Jonathan A. Scott, chairman of the Finance Department at Temple University’sFox School of Business, helps students manage an investment fund, called the William C. Dunkelberg Owl Fund, and in the process gain experience for careers in investment finance. The two-semester class consists of 25 predominantly male students, something the Temple Board of Trustees’ investment committee questioned in April 2018.
At that point, Scott and Owl Fund Director Cynthia Axelrod made it a top priority for the last academic year and to develop strategies to improve gender diversity. Some progress has been made, as about 15% of the Owl Fund students now are women but Scott acknowledges it’s still not good enough. Part of the problem is that only about 30% of finance majors are women.