Voice of Experience: Julie Monaco, North America Regional Head of Global Transaction Services, Citi

MonacoBy Pamela Weinsaft (New York City)

In April 2007, about to embark on a business trip, Julie Monaco, then managing director at JP Morgan Chase, was contacted about a position in financial giant Citi’s Global Transaction Services division. That’s when fate intervened and a routine trip turned into anything but.

While waiting in an airport security line for her connecting flight through Tokyo, Monaco struck up a conversation with a fellow business traveler. It just so happened to be the CEO of Citi’s Global Transaction Services.

“I stuck out my hand and introduced myself,” said Monaco. He laughingly responded, “You are about to have the longest job interview you ever had.”

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On Your Bookshelf: The Go-Getter Girl’s Guide

BooksBy Andrea Newell (Grand Rapids, Michigan)

Don’t let the chick-lit cover fool you. The Go-Getter Girl’s Guide: Get What You Want in Work and Life (and Look Great While You’re at It) may look fluffy, but it is full of hard-nosed advice about how to strategize each step of your career. Author Debra Shigley is a Harvard-educated journalist and lawyer whose work has appeared in numerous publications and has been featured as a career/lifestyle expert on The View, CNN, and in The Wall Street Journal, along with other media outlets.

Although the book is primarily geared toward women just starting out, Shigley’s advice holds true for women at any stage in their career – especially women who want to be more polished, more professional, and move ahead. Go-Getter Girl (GGG) is code for Type A personality, and The Go-Getter Girl’s Guide (GGGG) is filled with stories of highly-educated, highly-motivated, and high-achieving women.

Amidst the peach text and call-out boxes, Shigley sets the tone early with a chapter titled, “The Work World Can Be a Cold Hard Place – You Must Learn to Deal with It.” It’s true. Women do encounter issues at work that men do not. The GGGG discusses what to do if you have the occasion to cry at work and why it’s so important to maintain a sunny disposition no matter what (“fake it until you make it”). Other advice is common sense, but bears repeating, like not venting at work, avoiding gossip, and treating your coworkers with respect.

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2010 Gender Equality is Here, and Other Media Myths that Keep Unconscious Bias Alive

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Nicki HeadshotA weekly column by Nicki Gilmour, Founder and CEO of theglasshammer.com.

Welcome to my new weekly column on the latest news, surveys and trends on professional women in the workplace (I’ll sometimes write and sometimes podcast). I aim to keep you updated and to provide deeper insight into positive changes both employers, and women who are breaking the glass ceiling everyday, can make to improve working life. Feel free to comment and continue this discussion on the social network which can be found on our community page.

The Economist kicked off the year with Rosie the Riveter on the cover, proclaiming “We did it.” What exactly did we do?

Well, we became 50% of the workforce, generally, across all industries. We can interpret that in two ways, either as a positive advancement for women as they are able to have economic freedom by earning their own wage or that that women have to work to support themselves and their families; it does not necessary mean that we are actually getting somewhere as leaders and managers in equal numbers to men.

I have to be honest. I had to check that I wasn’t reading an old copy of the Economist from January 1980 when I read the words, “The revolution has been achieved with only a modicum of friction. Men have, by and large welcomed women’s invasion of the workplace.” Invasion of the workplace? Last time I checked, going to work to try and strategically improve your processes, and therefore the company as a whole, by delivering results in whichever area you work isn’t like invading Poland.

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Where U.S. Women Earn the Most, Despite the Gap

MapBy Tina Vasquez (Los Angeles)

In 1979, it was reported that women were making just 62 percent of what their male counterparts were making, despite having the same titles and doing the same amount of work. Though progress has been made over the last 30 years, there is still a disparity when it comes to women being fairly compensated for their work. Forbes Magazine recently compiled a list of the top-earning states for women, based on study released by the Bureau of Labor Statistics in July 2009. According to the report, women are capable of earning respectable salaries in locations such as Washington D.C. where women make an average of $866 a week. But is it really progress if they’re still not earning as much as their male colleagues?

The Facts: High Salaries but the Gap Persists

According to data collected by the Bureau of Labor Statistics for 2008, women generally make just 80 cents for every one dollar earned by their male colleagues. In Washington D.C., however, this percentage jumps to about 92 cents because of the multitude of high-paying government jobs with a regulated pay system, which makes the wage gap much tighter than in the rest of the country.

While the Forbes list highlights the states that pay women well, in none of these states do women earn as much as men. For example, Maryland, Connecticut and Massachusetts came in second, third, and fourth on Forbes list, meaning the Northeast is the ideal location for women to secure large salaries. Working female professionals in these three states reportedly make between $762 and $774 each week, though men in the same professions in those same areas make more than these high-earning women—20 percent more, on average. Except for Connecticut and Maryland, that is, where women are making just 73 cents and 76 cents, respectively, for every one dollar made by their male counterparts.

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DirectWomen: Opening the Door to the Board Room for Women Lawyers

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lawyerBy Tina Vasquez (Los Angeles)

DirectWomen, a three-year-old organization based in New York City, believes it has discovered an untapped resource capable of greatly benefiting the boards of U.S. companies: accomplished female attorneys. After all, for the first time in the country’s history more women are graduating from law school than men, and not only that, but 2008 findings from Catalyst found that companies with the highest representation of women board directors and women corporate officers actually experience more financial success than boards with little to no female representation. Obviously, DirectWomen and organizations like it are on to something.

According to the 2009 Catalyst Census, the percentage of women board directors has hovered at around 15 percent for the past five years. Getting women into these positions has proven to be difficult, but Dominique Schulte, Executive Director of DirectWomen, believes that female lawyers are more than capable of not only serving in these positions, but succeeding in them. “Despite all the awareness of the positive attributes of diversity, there has still not been a major breakthrough in the number of women directors,” Schulte said. “We feel that women lawyers are uniquely qualified and an experienced source of board diversity that has gone unnoticed.” Until now…

In early 2006 a group of women who met through their participation in Bar activities began to discuss their concern over the small number of women serving on boards, even though the first generation of women to attend law school in meaningful numbers was reaching the age where they might consider board service. In response to this problem, these women decided to form DirectWomen in order to promote women lawyers with business experience for board service.

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The UK’s Top 12 Women to Watch

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women watchBy Elizabeth Harrin (London)

It’s been ten years since Cranfield School of Management first produced a report benchmarking the number of female executive directors on the corporate boards of the UK’s top 100 companies. This time the authors of the Female FTSE report has gone a step further – perhaps to celebrate a decade of highlighting the paucity of women at the top – and put together a list of women to watch.

There are 2,281 women (which is 404 more than last year) on the corporate boards, executive committees and senior teams in the FTSE 250. The ‘Women to Watch’ report identifies 100 women in that group, chosen from the largest organisations, whom the authors believe should be seriously considered for the most senior positions.

The Glass Hammer has picked out the financial services high fliers – women you should be watching out for in 2010. Is anyone at your company on the list?

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Voice of Experience: Sarah Lamar, Partner, Hunter, Maclean, Exley & Dunn, P.C. and President of legal network, ALFA International

By Pamela Weinsaft (New York City)

“I decided to become a lawyer when I was ten. We went on a family trip to Washington, D.C. and visited the United States Supreme Court,” said Sarah Lamar, a partner at Hunter, Maclean, Exley & Dunn, P.C.. “The tour guide must have done a really good job,” Lamar joked, adding, “Although it was a simplistic idea, I just followed it.”

Lamar grew up in the suburbs of New Haven, Connecticut. After obtaining her Bachelors from Yale, Lamar says she was “done with New England weather” and headed south. She attended Emory University Law School in Georgia, and spent the summer between her second and third year of law school in the DC office of Morgan Lewis Bockius, a well-known labor and employment law firm.

That experience gave her “a really broad and interesting view on that area of the law” so when she was deciding what law path to take, she “checked off what things I did not like in the law: tax, corporate law, bankruptcy…employment law remained fascinating because it is the study of human relationships and how they can go right and wrong. Also,” Lamar said, “it is very people-oriented and I am a ‘people person.’ It gives me the chance to get to know the leadership in different industries and what makes people tick. I’ve always been interested in the social issues surrounding employment law like harassment and discrimination and civil rights.”

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