This Week’s Tip Is…“After Action Reviews” or AAR are great ways to unpack a recent project with your team or boss. What went well? What could have been done better/differently?
This is a great way to seek out feedback.
Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.
By Nicki Gilmour, Executive Coach and Organizational Psychologist
Kelli Washington knows the value of understanding an organization inside and out.
She began her post-undergraduate career in the financial services industry, where she spent 10 years at Edward Jones as a due diligence analyst and portfolio manager. She began in a rotational program that gave her an inside view of departments like operations or marketing, and she knows that background knowledge increased her value to the firm. “I would attend meetings where people wouldn’t know where to find answers, but I became a go-to source since I knew different parts of the organization that others didn’t.”
She knew she wanted to stay in the industry but she also wanted to pursue a career path that was more meaningful, and for her that was the field of education.
“I had been fortunate to receive a college scholarship, but at the time I didn’t understand why I still had to take out loans if the college had such an ample endowment,” she says. “As I learned more about the responsibility of the endowment, I realized that I wanted to put my skills to work as an endowment investment manager.”
The Intersection of Finance and Non-Profits
She pursued her MBA at Yale to move into endowment management and has now been at Cambridge Associates for more than seven years.
When she reflects on her career, she is proud of the dedication it took to earn the designations of both CFA and MBA.
She says earning the CFA was not just challenging, but “often heartbreaking.” When she returned to school for her MBA, she already had a decade of experience, making her relatively older, which she says allowed her to focus on taking not only the classes she needed, but also those that were interesting to her. Her younger classmates who were in school for a career switch had a large number of classes they were obligated to take, where she took advantage of her unique opportunity to take more classes related to non-profits than business.
She has parlayed that expertise into her current role, helping non-profits manage their endowment assets. She’s particularly excited about one client she’s recently started working with, in which the nature of their relationship has allowed her to learn more about their mission.
“I talk with them about investment strategies, but the way they work on an integrated model has allowed me to have more interaction with their board members and their non-investment staff where I can learn more about their great work and programming at a deeper level.”
Her work is a perfect combination of exposure to both traditional finance and the non-profit space.
On the finance front, she says that everyone is acutely aware that many of the changes in the regulatory environment will have unintended consequences, even though many were necessary because of the financial crisis. She cites how the new regulatory environment has changed the landscape of the trading markets. The full impact may not be known until the next market correction.
“When the next bear market occurs, how will the markets behave and will we be in a position where we can create liquidity for our clients?” she asks.
And, on the other side of the coin, she draws from her unique space in the non-profit world to wonder how they can make sufficient money to be able to continue to serve their constituents.
She works with many organizations with deep pockets, but knows there are lots of smaller ones that won’t exist in 10 years because their endowments can’t support their missions and they can’t fundraise sufficiently.
“People can’t donate to all the wonderful groups out there, of course, so they have to choose those most closely aligned with their values. However, it’s a little scary to know that there will be people who will fall through some cracks. For example from a personal viewpoint, I fear that someone might not get the education that I am blessed to have because someone gave money to Washington University.”
Paying Attention
Washington has one lament about her earlier years – she wishes she had paid more attention. “It’s often hard to focus in the moment, but there are times I have an epiphany that I know something — but I didn’t know I knew it. It has helped me become more aware of what I’m working on and how it can help either myself or others down the road.” She advises women starting their careers to learn as much as they can and take advantage of opportunities that present themselves.
During her tenure at Cambridge, Washington has spent time in two of the eight offices, and admires its focus on establishing mentoring programs. When she first started, she had several mentors from whom she could ask questions outside of her immediate team. The firm also matches investment directors and analysts.
“I personally try to informally mentor as many of my analyst partners as I can and spend time with them to ensure they are growing and developing as they need to. Of course, I have a special place for the women since I’ve been there and know what it’s like to be one of the few.”
She believes that the lack of women in the industry is a self-fulfilling process — there aren’t enough women or African Americans to act as mentors and role models. “Young women don’t see other women so they don’t see themselves,” she says, adding that for the past 20 years she has actively been involved in recruiting.
She notes that ample numbers of women will attend an informational session, but the numbers dwindle as they matriculate through the interview process. “I don’t have the solution but I know we all need to do as much as we can to encourage diversity.”
Seeing the World
Outside of the office, Washington loves to travel internationally and and recently completed a 10-day European tour with her parents. She has also earned her scuba diving certification and looks forward to planning a dive trip this year.
By Cathie Ericson
This Week’s Tip Is…Do you have a sponsor? What do you reciprocate with as part that arrangement?
How useful is this relationship in practical terms? How could this relationship become more useful?
Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.
By Nicki Gilmour, Executive Coach and Organizational Psychologist
Don’t opt out before you ever get a chance to start your career.That’s the advice from Esther Jansen, a Shearman & Sterling partner in Frankfurt who took opportunities as they were presented to grow her career.
Today a well-known and highly-regarded lawyer who advises on German and cross-border finance transactions, Jansen began her legal career the way most professionals begin theirs: with a general direction but lacking any real focus. In fact, thinking back to her time as a law student at University of Heidelberg, Jansen admits she had no specific career path in mind; there were no lawyers in her family but she had always been interested in the field and knew that a general plan of study could open doors to various avenues.
Her career path started rather randomly with her oral examination at the conclusion of her studies. That is when a corporate law professor, from whom she had never even taken a class, complimented her performance and offered her a job.
“I was able to travel and make a lot of connections, and I realized that this area of law was something I wanted to pursue,”
Thus she embarked on a career in corporate law. Jansen recalls finding the field “inspiring” due to a wide variety of projects that encompassed different areas of law, including international projects with professors from other universities. “I was able to travel and make a lot of connections, and I realized that this area of law was something I wanted to pursue,” Jansen says.
For three years she supported the professor on research projects and student training. She was then offered a position at a law firm through another professor with whom she had interfaced while working at the university.
For three years, Jansen concentrated on venture capital, corporate and M&A, and then new doors opened as her German firm merged with one in New York. She was offered the chance to work in New York to get a different perspective and meet people with whom she had worked from Germany.
“I was astounded at how different the environment was,” she says. “German law firms had hierarchy but nowhere near that of a US firm in New York. One day I went to a partner’s office, only to run into a mid-level associate who asked me what I was doing. I quickly found out that there you don’t just go to the partner.”
Soon after returning to Germany she left – along with the partner with whom she had been working — and began her career with Shearman & Sterling in 2001.
“Becoming partner was a defining moment for me because I’m so proud to be part of this inspiring environment,”
Jansen found Shearman & Sterling to be a great fit right from the start, with a team spirit, lots of young partners and a supportive environment. Jansen became a partner in 2005 and had the opportunity to work with many different partners during her time as an associate, which she credits for her rapid development. “The more personalities you work with, the more you can choose the patterns that work best for you to develop your own professional personality,” she says.
“Becoming partner was a defining moment for me because I’m so proud to be part of this inspiring environment,” she adds. “The ability to transition from one area of law to another, and work with so many smart people and become part of the market and a community on a bigger scale, has really been an achievement for me.”
Jansen finds her work challenging and fascinating because of its ever-changing structure. Over the past year she has not only found a rewarding opportunity to retain new relationships with private equity houses in the higher and midmarket segments, but also worked with banks and corporates on financing transactions, insolvency issues and high yield bonds.
Jansen believes that it is also a woman’s responsibility to take charge of her own career. “I have never encountered a barrier from clients or the firm, nor experienced any pushback from anyone in or outside of the firm,” she says.
It’s still an issue she understands well: the year before her partnership process began she became pregnant and endured the ensuing questions from women about whether she could balance her work and family. But there was no issue with the firm; being a mother did not impair her partnership opportunity. She stayed home for five months and there was no delay to her partnership track when she returned.
However, this perceived barrier presents a problem for hiring and retaining women. Jansen says that when she started at Shearman & Sterling, about 50 percent of her fellow associates were women but, as is the case throughout the legal industry, there was a drop-off by the time associates become ready for the partnership.
Jansen encourages young woman to start networking early, both internally and externally
“Maybe it is, maybe it’s not, but you don’t have to overthink it. Take a small step and see if it’s right for you,” she says, adding that women often don’t take the big leap and therefore get stuck in a less ambitious job before they even start. “Gaining experience at a firm like Shearman & Sterling means that all the doors are open. Even when women leave, they have a strong foundation to launch the next phase of their career that they wouldn’t have had if they hadn’t pushed themselves.”
Although Shearman & Sterling is known for its comprehensive women’s networking groups, German culture as a whole isn’t as developed in gender diversity initiatives. Jansen says the German market is starting to adapt, and the firm has introduced its Women’s Initiative for Success, Excellence and Retention (WISER) inclusion network locally. The firm has also expanded its annual global partner meeting an extra day for anyone, male or female, who wants to participate in Women’s Initiative programming. That programming typically includes female speakers and networking with other female partners to mine connections that could help each other.
In addition, the women partners have taken the initiative to become part of smaller personal circles of four to five women who report to each other once or twice a month, offering encouragement and a high degree of accountability. “Since it’s a more intimate group, you’ll be missed if you’re not part of it,” she says.
Jansen encourages young woman to start networking early, both internally and externally, to get to know the peers they’ll grow their careers with. In fact, she says that one of the foundations of Shearman & Sterling’s Women’s Initiative is that, within the business and legal communities, women are increasingly making the legal buy decisions, in their role as general counsel or assistant general counsel, so it’s important to understand their contacts’ business and what they are looking for and to foster relationships with senior women in those organizations.
Through it all, and with a very challenging career, Jansen is aware that she has been fortunate to have the support from her husband and her extended family. With two kids, ages 11 and 8, Jansen says, “On the weekends, family is my hobby.”
It’s all about giving good people chances—not about whether they’re a man or a woman.That’s the philosophy of Dave Meisel, who manages the full lifecycle of transportation needs at PG&E, from vehicle specification to maintenance to disposal. Starting his career as a mechanic, Meisel has worked in corporate America with a series of national utility fleets including Roadway Express, Frito-Lay and Consumers Energy before joining PG&E.
He admits his career has been honed in a male-dominated industry, where for many years, he primarily worked with men—aside from a woman or two in administration roles. And yet, even with that background, diversity has always been important to Meisel from a personal and professional standpoint.
“I grew up in a house full of boys in the 1960s, and you learn a certain set of rules that are different than today,” Meisel says, adding he now has a house full of girls. “I quickly realized I didn’t know much about girls.”
He believes even more passionately that just because they’re girls, they shouldn’t have to work harder or be denied the same opportunities as boys, even though he grew up in a time when gender roles were more defined.
In fact, he says he has been surprised to find his girls had different interests than he had expected.
“My girls are good at lots of things that aren’t traditional,” he says, citing his youngest daughter who loves to hunt. “After seeing their interests, I figured out there wasn’t as big of a difference between boys and girls as I thought or had been taught, and that changed my view.”
He was able to take what he learned with his own girls, and apply it to interacting with the women with whom he works. “And along the way, I’m sure I learned more from them than they learned from me,” Meisel says.
He has increasingly seen smart women coming out of college and conquering the workplace in what has typically been a male-dominated industry.
“Even though they weren’t familiar with our industry, they exhibited a legitimate desire to learn it,” Meisel says. “With that, they brought a different perspective on what “good” looks like—they raise the bar.”
Over the years, Meisel has mentored lots of men and women, helping them learn about other parts of the company and acting as a sounding board.
But he knows the difference between being a mentor and sponsor, where you invest yourself more completely in their success. Meisel says he has helped many women over the years rise from clerical positions into technical or management roles when others hadn’t bothered to see their potential.
“I really believe most people just need a chance. I’ve tried to be vigilant about not stereotyping,” Meisel says. “When I know this person is smart and they can do well in a certain role, I develop a plan to help them reach that goal. And along the way, I make sure to give them support. I would never leave them to sink or swim.”
He says the women he works with perform as well or better than the men, describing them as smart, bright, articulate, and thirsty to learn. “They don’t take anything for granted, whereas some men might believe that since they’re in a men’s business they deserve the growth opportunity.”
PG&E attracts lots of diverse candidates—men and women, different ages and different cultures. And since there are so many different types of jobs at the company, they can start in one area and be moved around. “We’re fortunate in the quality of people we attract and how hard they work when they’re put in those roles,” he says.
Meisel knows the prevailing viewpoint in the company is to be collaborative. “We try to actively engage people other than those we traditionally work with. When we put a diverse group on a project, we get so many views that are different than we would otherwise get and ultimately, a better result. The bottom line is if you always do what you always did, you always get what you always got.”
Meisel says it’s easy to tell if a team is suitably diverse: Look at the people you’re working with to solve problems. If they all look like you, then that’s the problem.
“As a leader, you have to stand up and say, ’I want more opinions. I want more diversity.’ We’re more successful when we have a broader based view than when we don’t. The ultimate goal is to run the business well, and a diverse view of the world helps us run the business better. You can’t keep perpetuating the same old team if you want different opinions.”
Meisel thinks many companies worry too much about “taking a chance” when they promote someone. “Smart people are smart people, and they don’t have any boundaries. Good people get to where they are because they’re hard workers, so moving them one level higher isn’t really taking a chance. They are where they are because they performed and there’s no reason to expect they won’t continue to perform.”
Meisel has also found it’s in everyone’s interest to mix up roles. If there’s something they traditionally thought men could or would do better, leaders might be surprised when they find women are every bit as willing and successful in the tasks. “If no one gives them a chance,” he says, “how do you expect them to grow?”
And Meisel finds diversity extends to age, and how impressive he finds the electronic savvy of young people. “I don’t consider myself technically illiterate and yet their skill set is so far beyond mine,” he says. “You have to look at that skill set and say it doesn’t matter how old they are. If they can do the task, give them the chance.”
Ultimately, Meisel says there’s truth in the adage that you can’t judge a book by its cover, even though many people still do. “Often the book is so much better than the cover.”
By Cathie Ericson
At a time when some of the world’s largest economies are faltering, and when traditional industries are losing steam, many are turning their eyes to technology as a potential saving grace, in the hope that it will provide the jobs, revenue, and innovation that are so sorely needed.
But technology has its own challenges: namely around attracting and retaining top talent within the industry. And, like other male dominated fields, it faces a particular challenge in the retention of women. Not only are fewer women starting out in this field, but as pointed out by the National Center for Women & Information Technology in the report “Women in IT: The Facts,” of the few who enter, many will leave.
It is my pleasure to publish this piece of research focusing on the experience of LGBT women who work within the UK’s financial and professional services industries. We aim to explore the perceptions, realities, and trends around how women interpret their environment whilst at work.
Our respondents to this UK survey are mainly readers of TheGlassHammer.com, some of whom attended our 2012 event “Managing Multiple Identities: Being Out at Work,” which was held in London. Our methodology was both qualitative and quantitative for this research and we formed questions around the following hypothesis:
“Competence assumed and compensation being equal, LGBT employees feel more engaged at work if they are shown increased organisational and managerial support.”
This approach to our research is very much at the core of the work we do at Evolved Employer. We engage with clients to examine and improve organisational culture and work with leadership to increase competency around diversity and inclusion issues so that talent and business strategies can be successful. After all, if culture can be defined as “the way we do things around here” then it is critical for leaders to understand how to engage and include different types of people. This has been shown to increase performance and engagement and this is the business case for diversity work.
I am delighted to welcome you to our first in the series of reports on Managing Identities at Work. This report focuses on “Being out at Work” and we look at the LGBT experience through a gender lens. By conducting research and hosting career panels exploring career challenges for certain talent groups, such as LGBT employees, we aim to shed light on what companies can do better for diverse high performers.
After all, if culture can be defined by “the way we do things around here” then it is critical for leaders to understand how to engage and include different types of people so that every individual in the firm can bring their best selves to work. This research report is the first of its kind to explore specifically the workplace perceptions and experiences of professional lesbians in financial and professional services.
The Glass Hammer is perfectly placed to examine deeper issues around gender and identity at work and our goal is to empower women of all types to advance in their careers. Our research arm, Evolved Employer, is working hard to benchmark diversity so that the industry as a whole can better understand how to remove and reduce systemic biases. In my opinion, it is only when we work in this manner that we can truly further the dialogue around diversity – to start leveraging diversity as a business driver. Achieving inclusion is a cultural change project; changing culture is only possible when led with a vision and backed by compliance, not the other way around.
The most striking finding from this report is that many women, despite being out to everyone, are still uncomfortable in their immediate environment and would like their company to do more education around LGBT issues. Reassuringly, several companies were recognized as going above and beyond in their efforts to ensure organizational and managerial support, reinforced with strong networks and programmatic solutions.
I hope that you enjoy this whitepaper and share it with leaders, managers, employee networks, straight allies, and LGBT employees alike.
This Week’s Tip Is…Do you have a mentor? Do you need a new one?
Write down what they do for you. What do you reciprocate with as part that arrangement?
How useful is this relationship in practical terms? How could this relationship become more useful?
Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.
By Nicki Gilmour, Executive Coach and Organizational Psychologist
Kiran Kaur has seen the powerful effect that strong women mentors and sponsors have had on advancing her career. “Together we need to help other women be promoted to leadership roles. We grow the chain by passing it on.”
Kaur came to the United States from Sydney, parlaying her master’s degree in computer science into a position at a small Wall Street consulting firm. As the only women in the IT department, she found herself rolling up her sleeves to install big machines – doing everything her male counterparts were doing.
That can-do attitude caught the eye and impressed one of her clients, a hedge fund company, whose CTO paid a finder’s fee to her consulting company and offered her a job. It was a critical milestone in her career progression, giving her entrée into the financial industry.
Two years later, when the fund manager decided to retire and downsize, he invited two major Wall Street firms in to interview and place the remaining employees. Kaur decided that Morgan Stanley was most suited to her career progression at the time and joined the firm. For 13 years, she held a wide variety of roles, becoming a vice president and then an executive director and overseeing a global team of more than 100 in Asia, Hong Kong, London, Australia and India.
In 2012, a former boss who had gone to TIAA-CREF reached out, inviting her to visit the Charlotte, N.C., headquarters, assuring Kaur she would be well-suited to the culture and there were plenty of opportunities to leverage her experience.
Kaur eventually joined TIAA-CREF in 2013 and was recently promoted to managing director, overseeing technology. She says she is looking forward to being part of some upcoming transitions in the company and industry. TIAA-CREF’s current CIO has advanced to become COO, opening up the position for someone from the outside. “It will be interesting to see their perspective and how we will adapt and deliver on any directional changes they make,” Kaur said. In addition her team has been actively pursuing an initiative designed to drive accountability and shine light on enhancing the exchange management process.
Brand Presence as a Driver of Success
Through her transition to TIAA-CREF, Kaur became acutely aware of the differences in company culture and the importance of adapting. “Morgan Stanley was a very aggressive environment, very competitive, where you had to prove yourself to even be considered to have a seat at the table,” she says. “When I first started at TIAA-CREF I would march in with a solution to a problem, but it wasn’t long before I realized that I needed to tweak my style – they weren’t just about speed but execution.”
That’s when she began to focus on the importance of personal brand. “You have to be constantly conscious of what people are saying about you and how you are being perceived by those around you because it sets the tone for what others think about you, even if they might not have worked directly with you,” she says, adding that brand encompasses everything from how you walk into the room to what you have to deliver.
Even though she acknowledges that her brand spoke for itself when she was first tapped by the hedge fund firm, she says that had she been more consciously aware of its importance, she would have been more intentional about using it to build stronger relationships.
“Had I gotten a career sponsor earlier on, perhaps I would have had quicker ascensions. Finding career sponsors and mentors, people who will recognize and champion your talent, will push your career forward,” Kaur said. “You can be the best person, but if no one knows about it, especially as you get more senior, you won’t get the opportunities you want. Success is reliant on negotiating and influencing skills.”
Although the industry has advanced in gender diversity, Kaur still sees that there is a long way to go to achieve parity. Not only is the financial services industry still largely male dominated, but it is even more pronounced when you layer the technology function on top, which can cause challenges for networking opportunities.
For example, men frequently participate in golf or sports outings, and that can seem alienating to women. “Women know the importance of gaining insights by participating in events outside of work for relationship building, but it can be harder for women to insert themselves into these scenarios. We typically have to go home to our families, where men don’t have to adapt their schedules as much.”
Additionally, some traits that are acceptable coming from a man are still perceived as overly aggressive in women leaders. One area where Kaur urges women to take control is in speaking up for themselves. She points out that men have no qualms about asking for a raise or promotion and women need to do the same.
Despite the gender differences Kaur believes women shouldn’t alter themselves to try to fit in. “Some women try to act like men, which is fine if that’s your choice, but we should be proud of our femininity and stop pretending. Women can drive the agenda just as effectively.”
And that extends to emulating managers too. “Sometimes we get into the shadow of our leaders and start imitating their behaviors which can be positive, but it also means you can lose your individual personality. It’s important to stay true to your own brand.”
Kaur personally stays involved in a number of women-oriented councils and encourages other women in the industry to help increase the percentage of women in IT. “I am an example of someone who got chosen by a woman leader, who put me in a position where I was exposed so that my talent was recognized.”
World Traveler
A multi-national citizen — born in Africa, and then moving to Sydney and ultimately the United States — Kaur has been traveling since birth, and she has passed that love on to her family, which includes her husband and four- and 11-year old children. On a regular basis, she counts fitness, especially yoga, and cooking as her stress busters. For her it’s about being with her family doing something they all love, together.
By Cathie Ericson