Poster Session 1, 10:30 AM - 11:15 AM: Campus Center Auditorium [A53]

Presenter: Therese Heim

Faculty Sponsor: Brenda K. Bushouse

School: UMass Amherst

Research Area: Finance

ABSTRACT

Gender inequality in the workplace has been an enduring problem for female workers. Despite the slow progress pertaining to gender equality in the workplace, there are still many industries in which men heavily outnumber women.  While many of these industries maintain an equal ratio of early-career hires, the number of women tends to diminish as they climb to the upper echelon of leadership. The financial services sector is emblematic of gender disparity and in major cities across the U.S., women earn substantially less than their male counterparts.

Mentorship in a professional setting has been shown to correlate with positive career outcomes for men and women, including higher compensation, improved career advancement, and overall satisfaction. Existing literature provides thorough data on the benefits of mentorship, both informal and formal, but the studies of women are focused on female-dominated industries–which still see low levels of female leadership. The compelling benefits of mentorship in the workplace combined with the disparities in female leadership in many sectors introduce an important question: how does mentorship impact career outcomes for women in industries disproportionately led by men? 

Utilizing a mixed-methods survey approach, this study examines the experiences of women in the  finance industry, which is disproportionately led by men, to assess the impacts of mentorship on women’s career progression, salary, and career goal satisfaction in the workplace. Specifically focusing on an industry in which additional progress is needed will provide important insights into how women in the finance field can successfully advance into leadership roles and improve the systemic gender imbalances in workplace leadership.