The danger of conventional wisdom is it doesn’t have to be true to influence reality. New research reveals that the gender gaps in career growth between Harvard MBA graduates are not a result of women prioritizing family over career more so than their male peers. Rather, the unspoken assumption they do seems at play in affecting outcomes in their lives.
The “Life and Leadership After HBS” study surveyed 25,000 graduates of the Harvard Business School, majority MBAs, aged 26-67. Marking fifty years since HBS started admitting women to the MBA program, the researchers Ely, Stone, and Ammerman wanted to find out what graduates trained for leadership had to say about their experiences to date with life, work and family.
The study found that, “(All) Harvard MBAs value fulfilling professional and personal lives — yet their ability to realize them has played out very differently according to gender.”
Both male and female graduates marked success early on by career achievement and then both evolved their definition with age and experience to reflect that both profession and personal life mattered to them. Nearly 100% considered quality family and personal relationships highly important.
The researchers found both sexes also equally valued career fulfilment, stating “Their ratings of key dimensions of professional life, such as ‘work that is meaningful and satisfying’ and ‘professional accomplishments,’ were the same, and the majority said that ‘opportunities for career growth and development’ were important to them.” Women actually rated growth and development slightly more than men.
It’s no surprise that high-aptitude Harvard MBA graduates sought both personal and professional fulfilment, but seeking similar things with similar capabilities did not mean that men and women netted similar outcomes.
The Fulfilment Gap
Harvard MBA women did not step back from their career values, but their career opportunities seemed to stepped back from them.
Across three generations of graduates, 50%-60% of men were “extremely satisfied” or “very satisfied” with their experiences of meaningful work, professional accomplishments, opportunities for career growth, and compatibility of work and personal life. Across the dimensions, only 40% to 50% of women were as satisfied.
As their lives progressed, women reported feeling underchallenged by the work and responsibilities they found waiting for them, and subtly “mommy-tracked” right off the career ladder. The study revealed that only 11% of HBS women were out of the workforce for full-time child care – and then often because they were stuck in unfulfilling roles with weak prospects, so most Harvard MBA women were not “opting out”. Rather those seeking challenging part-time roles or flexibility found themselves being placed to the periphery as though they were only part-in.
Beyond that, HBS women working full-time were significantly less likely than their male peers to have direct reports, profit-and-loss responsibility, and positions in senior management, showing the gender bias reflected no matter what.
The researchers shared, “The message (to women) that they are no longer considered ‘players’ is communicated in various, sometimes subtle ways: They may have been stigmatized for taking advantage of flex options or reduced schedules, passed over for high-profile assignments, or removed from projects they once led.”
Importantly, 77% of all HBS graduates, and more women than men, believed that prioritizing family over career was the number one obstacle for women’s career advancement. But the researchers voiced with exasperation that different “choices” that would objectively reflect that priority could not explain the gap in leadership.
“We considered not only whether graduates had gone part-time or taken a career break to care for children, but also the number of times they had done so. We asked about common career decisions made to accommodate family responsibilities, such as limiting travel, choosing a more flexible job, slowing down the pace of one’s career, making a lateral move, leaving a job, or declining to work toward a promotion. Women were more likely than men to have made such decisions — but again, none of these factors explained the gender gap in senior management.”
In fact, previous research has demonstrated that even when working mothers overcome doubts about their workplace commitment through “heroic” efforts to visibly demonstrate it to their employers, they face a secondary form of “normative discrimination”. Hyper-committed mothers are perceived to violate the gender norm that they should be prioritizing family over work, and this projects negative attributes on their personality (not the same for hyper-committed fathers), which in turn harms career development. Hence, “efforts on the part of mothers to overcome doubts about their workplace competence do not eliminate discrimination; these efforts just change the mechanism of discrimination.”
It may be the persistence of the belief that women prioritize family over career (or should) that’s truly at play in tapering the career trajectory of Harvard women.
The Expectation Gap
The Harvard research reported, “we found not just achievement and satisfaction gaps between men and women, but a real gap between what women expect as they look ahead to their careers and where they ultimately land.”
Men started out with more traditional expectations, and life mostly satisfied them. 60% of male graduates expected their career to take priority, and that’s what happened 70% of the time. A strong majority of men expected their partner to take primary childcare responsibility, and 86% of the time, they did.
Women, however, launched their careers with stronger expectations that their partnerships would be equal, but reality fell short. Fewer than a quarter of female graduates expected their partner’s career would take priority, but 40% of the time it did. And while only half of women expected to take primary responsibility for raising children, two-thirds ended up doing so.
The researchers reported, “The fact that HBS alumnae are finding themselves in relationships in which their careers are subordinate to their partners’ more often than they anticipated strikes us as meaningful. Our findings indicate that ending up in less-egalitarian partnerships is disappointing—perhaps especially so when a career has stalled.”
Women whose careers and child care responsibilities were seen as equal to their partners felt more satisfied with their career growth than those in traditional arrangements. Tellingly, men in more equal relationships reported lower career satisfaction, likely thrown against their own expectations and gender norms too.
The Guardian lamented, “Somewhat depressingly it seems that we are still in something of a time warp, with the reality of working life for mothers falling far below expectations and ambitions.”
Who needs to Lean in?
The researchers concluded that, “Women are leaning in”. At least when it comes to Harvard MBA graduates, “Women want more meaningful work, more challenging assignments, and more opportunities for career growth. It is now time, as Anne-Marie Slaughter has pointed out, for companies to lean in, in part by considering how they can institutionalize a level playing field for all employees, regardless of gender or caregiver status.”
The study suggests we need to get beyond the conventional wisdom that a “woman’s primary career obstacle is herself” – and the premises hiding underneath it that silently justify brushing women’s career ambitions discreetly under the corporate rug.
Theglasshammer has an organizational consulting arm called Evolved Employer that specializes in helping companies do the necessary work to ensure the future progress of all employees.
That Harvard MBA Won’t Be Enough to Close the Gender Gap
Back to School, Career AdviceThe “Life and Leadership After HBS” study surveyed 25,000 graduates of the Harvard Business School, majority MBAs, aged 26-67. Marking fifty years since HBS started admitting women to the MBA program, the researchers Ely, Stone, and Ammerman wanted to find out what graduates trained for leadership had to say about their experiences to date with life, work and family.
The study found that, “(All) Harvard MBAs value fulfilling professional and personal lives — yet their ability to realize them has played out very differently according to gender.”
Both male and female graduates marked success early on by career achievement and then both evolved their definition with age and experience to reflect that both profession and personal life mattered to them. Nearly 100% considered quality family and personal relationships highly important.
The researchers found both sexes also equally valued career fulfilment, stating “Their ratings of key dimensions of professional life, such as ‘work that is meaningful and satisfying’ and ‘professional accomplishments,’ were the same, and the majority said that ‘opportunities for career growth and development’ were important to them.” Women actually rated growth and development slightly more than men.
It’s no surprise that high-aptitude Harvard MBA graduates sought both personal and professional fulfilment, but seeking similar things with similar capabilities did not mean that men and women netted similar outcomes.
The Fulfilment Gap
Harvard MBA women did not step back from their career values, but their career opportunities seemed to stepped back from them.
Across three generations of graduates, 50%-60% of men were “extremely satisfied” or “very satisfied” with their experiences of meaningful work, professional accomplishments, opportunities for career growth, and compatibility of work and personal life. Across the dimensions, only 40% to 50% of women were as satisfied.
As their lives progressed, women reported feeling underchallenged by the work and responsibilities they found waiting for them, and subtly “mommy-tracked” right off the career ladder. The study revealed that only 11% of HBS women were out of the workforce for full-time child care – and then often because they were stuck in unfulfilling roles with weak prospects, so most Harvard MBA women were not “opting out”. Rather those seeking challenging part-time roles or flexibility found themselves being placed to the periphery as though they were only part-in.
Beyond that, HBS women working full-time were significantly less likely than their male peers to have direct reports, profit-and-loss responsibility, and positions in senior management, showing the gender bias reflected no matter what.
The researchers shared, “The message (to women) that they are no longer considered ‘players’ is communicated in various, sometimes subtle ways: They may have been stigmatized for taking advantage of flex options or reduced schedules, passed over for high-profile assignments, or removed from projects they once led.”
Importantly, 77% of all HBS graduates, and more women than men, believed that prioritizing family over career was the number one obstacle for women’s career advancement. But the researchers voiced with exasperation that different “choices” that would objectively reflect that priority could not explain the gap in leadership.
“We considered not only whether graduates had gone part-time or taken a career break to care for children, but also the number of times they had done so. We asked about common career decisions made to accommodate family responsibilities, such as limiting travel, choosing a more flexible job, slowing down the pace of one’s career, making a lateral move, leaving a job, or declining to work toward a promotion. Women were more likely than men to have made such decisions — but again, none of these factors explained the gender gap in senior management.”
In fact, previous research has demonstrated that even when working mothers overcome doubts about their workplace commitment through “heroic” efforts to visibly demonstrate it to their employers, they face a secondary form of “normative discrimination”. Hyper-committed mothers are perceived to violate the gender norm that they should be prioritizing family over work, and this projects negative attributes on their personality (not the same for hyper-committed fathers), which in turn harms career development. Hence, “efforts on the part of mothers to overcome doubts about their workplace competence do not eliminate discrimination; these efforts just change the mechanism of discrimination.”
It may be the persistence of the belief that women prioritize family over career (or should) that’s truly at play in tapering the career trajectory of Harvard women.
The Expectation Gap
The Harvard research reported, “we found not just achievement and satisfaction gaps between men and women, but a real gap between what women expect as they look ahead to their careers and where they ultimately land.”
Men started out with more traditional expectations, and life mostly satisfied them. 60% of male graduates expected their career to take priority, and that’s what happened 70% of the time. A strong majority of men expected their partner to take primary childcare responsibility, and 86% of the time, they did.
Women, however, launched their careers with stronger expectations that their partnerships would be equal, but reality fell short. Fewer than a quarter of female graduates expected their partner’s career would take priority, but 40% of the time it did. And while only half of women expected to take primary responsibility for raising children, two-thirds ended up doing so.
The researchers reported, “The fact that HBS alumnae are finding themselves in relationships in which their careers are subordinate to their partners’ more often than they anticipated strikes us as meaningful. Our findings indicate that ending up in less-egalitarian partnerships is disappointing—perhaps especially so when a career has stalled.”
Women whose careers and child care responsibilities were seen as equal to their partners felt more satisfied with their career growth than those in traditional arrangements. Tellingly, men in more equal relationships reported lower career satisfaction, likely thrown against their own expectations and gender norms too.
The Guardian lamented, “Somewhat depressingly it seems that we are still in something of a time warp, with the reality of working life for mothers falling far below expectations and ambitions.”
Who needs to Lean in?
The researchers concluded that, “Women are leaning in”. At least when it comes to Harvard MBA graduates, “Women want more meaningful work, more challenging assignments, and more opportunities for career growth. It is now time, as Anne-Marie Slaughter has pointed out, for companies to lean in, in part by considering how they can institutionalize a level playing field for all employees, regardless of gender or caregiver status.”
The study suggests we need to get beyond the conventional wisdom that a “woman’s primary career obstacle is herself” – and the premises hiding underneath it that silently justify brushing women’s career ambitions discreetly under the corporate rug.
Theglasshammer has an organizational consulting arm called Evolved Employer that specializes in helping companies do the necessary work to ensure the future progress of all employees.
7 Ways To Be A Great Mentor for Women
Career Advice, Guest ContributionIn the past, true mentors provided holistic support to their protégés—including instrumental career support, emotional support, and role modeling. Mentors served as sponsors and coaches, protected their protégés politically, and helped them get challenging assignments. All of this is important, but it’s too much for one person to do in today’s demanding workplace.
Reframe the way you think about mentoring and help your protégé do the same. You can and should play an essential part of your protégé’s development, but to succeed she will need a network of mentors, sponsors, coaches, and peers. Instead of helping, you will hurt your protégé if you lead her to believe that you are the only mentor she will need. Explain to her that building relationships is essential for good performance and for getting ahead in the workplace. And the more developmental support she gets the better.
Here are 7 ways to be a great mentor for women:
1. Empower her to lead the conversation.
The best skill you can teach is how to be a good protégé, and a good protégé will take the lead in the relationship. Taking the initiative empowers your protégé to develop leadership skills and take ownership of her career, essential for her long-term success. Thus, as a mentor your role is not to direct the relationship instead your role is to guide your protégé by asking good questions and helping her think through career issues. Discuss goals for the relationship at the outset and be explicit about why you are pushing her to take the lead.
2. Become a sponsor and help her connect with other sponsors.
If you are in a position of influence, think about how to raise your protégé’s visibility. Expose her to the complexities of your role and introduce her to other leaders in positions of power. Raise her name as a high potential candidate for promotion in both formal and informal conversations. It’s notable that women are more willing to ask their managers for stretch assignments with a sponsor behind them.
3. Encourage her to take on challenging assignments.
Succeeding on challenging tasks is how we build self-confidence and self-efficacy, critical for performing in executive roles. Get to know your protégé well enough to help her identify experiences that will grow her skill set. Such high profile projects also serve to build her network, improve her reputation, and prepare her for more responsibility. Help her reflect on these experiences to fully capture the learning and incorporate new skills into her role.
4. Acknowledge gender issues exist.
Your protégé knows that gender may be a factor in her career; it has been a big part of the mainstream media conversation since the publication of Sheryl Sandberg’s Lean In. The issue is to recognize the role of gender and consider how it may or may not impact opportunities at your workplace. A key benefit of women mentoring women is the potential comfort in shared experiences. Be open to this conversation. Ask your protégé if/how gender has influenced her career. As appropriate, share your own experiences and how you coped as examples of resiliency. Help her navigate challenges using your knowledge of the people, processes, and culture of your particular organization.
5. Coach on executive presence.
Appearing and sounding professional are important components of impression management. You can help your protégé understand the unwritten rules, those implicit assumptions that underlie behavioral expectations and what is considered suitable for executives in your workplace. Observations on the wardrobes of high profile women are rampant, and good public speaking skills are crucial for aspiring leaders. Give thoughtful feedback on appropriate attire and presentation style to help women put their best foot forward.
6. Help her identify role models.
With women comprising less than 5% of Fortune 500 CEOs, clearly it is a challenge to identify female role models. Try having your protégé think about what she admires about different executives she’s observed. Consider what her goals are and who you know has strengths in areas she needs to develop. Instead of searching for one perfect role model, people can serve as role models for specific skillsets or managerial styles. Building relationships with both male and female mentors will be essential for her success.
7. Urge her to develop mentoring relationships outside your organization.
Everyone needs an objective sounding board outside of their workplace. Encourage your protégé to discuss her career with people from different companies and from different parts of her life (e.g., industry groups, community). External mentors give perspective and can offer fresh approaches to obstacles because they are not embedded in the organization. Women benefit particularly when they connect with mentors who support their goals both inside and outside of work.
To be a great mentor today requires creativity and the flexibility to adapt your approach to your protégé’s needs. In the process, great mentors learn a lot too.
About the author:
Wendy Marcinkus Murphy is an Associate Professor of Management at Babson College and author of Strategic Relationships at Work: Creating Your Circle of Mentors, Sponsors, and Peers for Success in Business and Life.
by Wendy Marcinkus Murphy
Career Tip of the Week
Career Tip of the Week!, Thought Leaders“You, according to you” and “You, according to them” can sometimes differ for various reasons- social identity such as being a woman being one example. How do you close the gap between what you know you are capable of and your perceived skills by others? Design a plan to show and tell.
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
Voice of Experience: Frances Ni, Partner, Perella Weinberg Partners
People, Voices of ExperienceThroughout her career, mentoring others has been an important goal for Ni, given the support she herself has always received.
When Ni arrived in the United States from China, she didn’t have a clear focus for what she wanted to do so she did what many in a similar situation do: went back to school. Based on her exceptional scores, a professor recommended she enter an honors program, and she earned a full-time job in public accounting at PwC after an internship.
While she enjoyed her work auditing and conducting due diligence for M&A deals and partnering with clients, she decided that her public accounting career would benefit from a stint in the private sector to get an idea of that side of the business, which is how she began her career in asset management. She joined Perella Weinberg the year it launched in 2006, as one of its first employees, and in 2014 was named a partner.
A Talented Team
While she is proud of becoming a partner, she knows that her success has come in large part from a talented, cohesive team. “It’snot a one-man show, and I am proud that I have been able to recruit and retain such exceptional talent over the years,” she said.
Ni appreciates that the firm puts as much value on the back office as the front office, where revenue is generated and which is often the sole focus of many firms. In fact, the partner who nominated her said that when he raised her name, there were no objections. “Being named partner really made me feel all the hard work was worth it,” she says. “It’s the recognition and acknowledgement that I have achieved something important.”
Currently, one of Ni’s focus is working with the compliance team on understanding the industry’s changing regulatory environment and related reporting. She believes the industry is going through a fundamental transition. She finds her firm to be well positioned to weather what can be perceived as a costly and challenging change because they have been solid in the areas of regularly reporting. “I have heard others struggling with implementation but we have always run a tight ship,” she says. “While I believe that there will be challenges, higher entrance barrier and even consolidation in this business, it will ultimately come down to the strength of the organization.”
Advice from the Top
Ni knows that every step along her career path has made her a better professional. “While there are some things that I wish I had known earlier, looking back I am glad I didn’t do anything differently despite all the ups and downs. If I hadn’t made the mistakes, I wouldn’t have learned the lessons,” she says.
A lesson she thinks is vitally important for women to take to heart is to understand that they shouldn’t take criticism personally. “You can’t appear to be emotional,” she says. “Early on in my career I received valuable advice to always walk around with your head and chin up.”
Even with the strides that have been made, Ni sees thatwomen are underrepresented in the industry. Some are put off by what they perceive as a “boy’s club,” and others find that the intensity of the work, travel and hours take their toll.
She did not feel the effect of a “glass ceiling” at the beginning of her career. “I heard stories and warnings when I started in the industry, but at that time, I didn’t feel its impact. Maybe was a little bit ignorant and just jumped in,” she says. However, as she advanced, she started to see the pressure but believed the general environment, awareness and willingness to advance women in the industry “has improved compared to a decade ago.” She believes that if she focuses on the good, then she will find the good.
An Additional Layer for Networking Success
According to Ni, the professional women who preceded her and her peers pioneered a more female-friendly work place, and they owe it to them to continue.
“These women paved 2/3 of the way, but we need to do the rest,” Ni says. She believes that women can make a big difference by being more actively involved in networking with others, and to her that means going beyond inspirational speakers to something more actionable. While she knows that women can benefit from hearing about the path women took to achieve success, she thinks women need to go the extra step: how can women help each other beyond just sharing their stories.
Ni sees in her own company a focus on recruiting, retaining and developing women.
The firm started a Women’s Initiative a few years ago that is unique in its structure of inviting all the partners – male and female – to participate, which allows junior women to get to know the partners with whom they might not always interact in the course of a busy work day.
“This allows for more informal networking and a better working relationship in a situation where younger women might be intimidated by the partners,” Ni said.
Another way that Ni helps with retention of younger professionals is to allow them to take a course related to their position. “They appreciate that the firm wants to invest in them,” she said, adding that she is always dedicated to supporting her team with their professional and personal goals.
Outside the Office
With a husband who works in Boston, Ni focuses on quality time with her family whenever she can, which often includes travel. She is also very focused on education, having worked with Junior Achievement and other educational endeavors and is formulating plans to bridge the needs of schools in China and her current community to ensure that all children receive the education that will propel them to success.
Office Housework: Lean In, But Don’t Be Leaned On
Career Advice, Office PoliticsIn a recent New York Times article, Sheryl Sandberg and Adam Grant write, “This is the sad reality in workplaces around the world: Women help more but benefit less from it.” After all, there’s a difference between leaning in and being leaned on.
Why We Help
Sandberg and Grant are quick to note that gender stereotypes are at play in creating expectations for women to “pitch in” thanklessly for the team: “When a man offers to help, we shower him with praise and rewards. But when a woman helps, we feel less indebted. She’s communal, right? She wants to be a team player. The reverse is also true. When a woman declines to help a colleague, people like her less and her career suffers. But when a man says no, he faces no backlash. A man who doesn’t help is ‘busy’; a woman is ‘selfish.’”
So it’s no surprise that Law Professor Joan C. Williams, author of What Works for Women at Work: Four Patterns Working Women Need to Know, says that for women, “Saying no without seeming touchy, humorless or supremely selfish is a particularly tricky balancing act.” Women continue to be left “holding the mop”, in the words of Senator Elizabeth Warren, for men in the office. Blogging on leadership, Williams defines office housework as:
“the administrative tasks, menial jobs, and undervalued assignments women are disproportionately given at their jobs.”
“Someone has to take notes, serve on committees and plan meetings — and just as happens with housework at home, that someone is usually a woman,” says Sandberg and Grant.
What happens when a woman says no? A study on altruistic behavior led by NYU’s Heilman tested how male and female employees would be evaluated based on choosing whether to stay late for an important meeting. A man was rated 14% more favourably than a woman for staying and helping. A woman was 12% more negatively than a man for declining.
It’s the equivalent of the “awww” factor daddy gets but not mom when he carries around the baby, and it’s unequally rewarded. Sandberg and Grant state, “Over and over, after giving identical help, a man was significantly more likely to be recommended for promotions, important projects, raises and bonuses. A woman had to help just to get the same rating as a man who didn’t help.”
If you’re finding yourself disproportionately engaged in leading mentor programs, coordinating the interns, taking notes, heading up thankless committees and special side initiatives, ordering the sandwiches, volunteering to stay late, and spending time behind the scenes coaching, you are helping organizational success according to many studies noted in the NYT article.
But the question is at what price to your career and to yourself?
Hindering Your Career
The NYT article stated, “Studies demonstrate that men are more likely to contribute with visible behaviors — like showing up at optional meetings — while women engage more privately in time-consuming activities like assisting others and mentoring colleagues.”
Behind the scenes help is valuable, but when it’s mostly women who are carrying the time and effort commitment on low-valued, low-visibility work, who is free to step up to the high-value, high-visibility opportunities?
“The person taking diligent notes in the meeting almost never makes the killer point,” Sandberg and Grant write in the NYT. And Williams asserts in the Washington Post, “We have to get women out of office housework and onto more projects that really matter, both to them and to their companies, if we want more women to be successful in reaching positions of influence.”
Sacrificing Yourself
Williams writes, “Women are often asked to play the selfless good citizen…by taking on assignments that men don’t want or that the organization doesn’t highly reward.” But what happens when women act selfless, or out of our need to be dutiful or helpful, is we too often neglect ourselves.
Women are more likely to feel burned out at work when it comes to emotional exhaustion, according to an analysis of 183 different studies across 15 countries. According to another study, women’s focus on and involvement with others to the exclusion of taking care of their own self can cause stress and depression underneath.
Being helpful can create personally rewarding interactions, but women need to be careful that they’re not exhausting their own energy and resources while colluding with multiplying expectations upon themselves.
If your identity becomes locked up in being the helpful one, which your gender already infers, then it becomes an expectation you serve and reaffirm. When out of balance, being of service to others at the workplace can mean being of dis-service to yourself.
A Mindset Change
Sandberg and Grant suggest that organizations should chose to value, track, and recognize acts of helping, as well as address the imbalance in assigning this work. They also suggest men could step up to contribute their share and help vocalize the unsung contributions.
In the meantime, they suggest breaking free of the cycle of mop-holding comes down to women, to you: “For women, the most important change starts with a shift in mind-set: If we want to care for others, we also need to take care of ourselves. One of us, Adam, has conducted and reviewed numerous studies showing that women (and men) achieve the highest performance and experience the lowest burnout when they prioritize their own needs along with the needs of others. By putting self-concern on par with concern for others, women may feel less altruistic, but they’re able to gain more influence and sustain more energy. Ultimately, they can actually give more.”
The NYT article pointed out an exec who found more efficient ways – such as a FAQ manual – to address requests for help, as well as caring ways to decline over-stretching. Only then did she make partner. You can be as giving, caring, and considerate in how you say no to others while recognizing your needs and limits as you can be in saying yes.
Women are quick at helping, and it’s part of the path to success, but that doesn’t mean we have to shoulder all the under-valued work at a cost to ourselves.
Perhaps we need to qualify Sandberg’s call-to-action: Lean in, but don’t be leaned on.
By Aimee Hansen
Mover & Shaker: Josephine Shin, Senior Vice President and High Yield Portfolio Manager, Senior Research Analyst, Alcentra, a BNY Mellon Investment Management boutique
Movers and Shakers, PeopleShin’s curiosity is what led her to a somewhat alternative path in the finance industry. At the University of Pennsylvania she pursued a Bachelor of Arts degree in Women’s Studies and Sociology, rather than the finance degree that was so prevalent.
But then upon graduation, she found herself surrounded by people asking how she was going to parlay that course of study into a career.
“There were doubts from peers about my choices, but I think it was the best path I could have taken. I got to spend those four years studying something of interest, communicating and formulating my own views even if they were out of consensus, being challenged by others and at the same time staying open to new ideas. Now I am putting those skillsets to work every day professionally and pursuing a profession that I truly enjoy. Shin said. She believes that spending those early years questioning and debating with an open mind allows her to bring a different perspective and to find value in places that may be overlooked.
With an interest in both quantitative and qualitative aspects, Shin joined an investment management company as a fixed income credit analyst. She describes it as an intense time to jump in as everyone was dealing with the effects of the “tech bubble” and 9/11, but a time where she learned valuable skills especially because bottoms-up fundamental analysis of credit was in such high demand. Though the firm she was working for was one where most people tended to stay “for life,” she yearned to be in the heart of New York and, ultimately, moved to work for another firm in a more senior role.
After several years, Shin went to work with a former colleague, but a year later, Lehman Brothers imploded and a majority of her team was dismantled within two weeks. That experience had a profound effect on her. “My comfort zone was shaken. That made me realize that I had gotten too comfortable and started to identify myself with where I work and what I do professionally,” she said. “That’s when I realized that I love what I do but that shouldn’t define who I am,” a lesson that has helped her throughout her career and personal life.
At that point, she decided to return to her roots in investment management and joined Alcentra, part of BNY Mellon, where she’s been for more than six years.
Paving Her Own Path
Shin says the career achievement she’s proudest of is her overall resilience in the face of naysayers and forging her own path even if it meant not following the most conventional options. From the major she pursued, to her desire to move from a comfortable job to New York, she has questioned taking at face value what the majority told her was “the right thing,” in favor of what was the right thing for her. “I listened to myself, and then spoke up to negotiate what I wanted.”
And throughout her career, she has appreciated the path she chose. “I’m in the perfect job for me; you have to be quick and nimble to act, yet have a strong fundamental view because every day there is something new about companies that I’m investing in.” She relishes her new role of portfolio management and the global platform the firm offers because it gives her a strong vantage point to integrate micro and macro data into innovative ideas for her clients.
Shin naturally gravitates toward mentors who share her affinity for making their voice heard, and her professional role models embody that quality at the highest level. She says, “If you find a mentor or sponsor in your workplace who takes time to give you honest feedback on how you can continue to grow in your career without plateauing, appreciate that gift because it is rare. It’s how we grow. Also, stay humble and ask for honest feedback. I have that in my current job and it’s been hugely inspirational for me.”
One of Shin’s early influences is Betty Friedan, whose work helped shape her belief in the importance of challenging the consensus view. “To be an outperformer in this business, it’s vital to have your own voice and thoughts,” Shin said.
She also named Judith Rodin, the first women president of an Ivy League university. Rodin was president while Shin attended Penn. “She is an inspiration to me because she not only relishes in her success, but does not shy away from mistakes or moments of failure in her career and life. I respect that humble dichotomy. She’s a great role model.”
Building Bonds
Shin has been involved in WIN (Women’s Initiative Network), a resource for the professional development and advancement of women at BNY Mellon. She also participates in the Penn Alumnae Women’s group. Her participation with both organizations underscores her belief in the importance of continuing to cultivate a robust network. She has experienced firsthand how the industry can change fast and that it’s vital to have a network already set up.
At the same time, she is cognizant of the fact that when you are employed, it’s compassionate to take a moment to help out others since you never know when you will need support. She especially believes in giving opportunities to women who might not have cookie cutter backgrounds, because they bring a different perspective that can enhance any organization or team.
Shin says she is grateful for her family’s support system. Naming her husband as her biggest supporter, she is also very close to her brother, mother and extended family. On the home front, Shin has a two-and-a-half year old daughter, whom she says is not only the apple of her eye, but makes her a more compassionate and well-rounded person. “I used to take for granted those days I could work into the wee hours at night, but now I have a better understanding of other working mothers. On the other hand, my efficiency has become incredible.”
By Cathie Ericson
The Formula for Selling Anybody, Anything, Anytime
Career Advice, Guest ContributionFirst: Yale University did a study of the 12 most persuasive words in the English language. What they discovered is that the most persuasive word in the English language is “you.” Consequently, I recommend throwing it around a lot: “As I’m sure you know,” “As I’m sure you’ve heard,” “I wanted to talk to you today,” etc.
Second: California-based Social Psychologist Ellen Langer revealed that there is one word in the English language that increases the possibility of cooperation from 60 to 94%. No, that is not a typo. I will repeat: 60 to 94%. This word is “Because.”
Lastly: “The Duncan Hines Cake Mix Marketing Theory.” When Duncan Hines first began making cake mix, the decision to have you at home add the egg was made in the marketing department. Why is this effective? Because they realized that when we add the egg we feel proud because we contributed; we can say, “I baked!” How does this work in a business scenario? You need to articulate how you can contribute to the other person’s success and/or how they can contribute to yours so that what is created becomes your shared success.
So that’s your formula: you + because + the egg = success.
Following are three different ways you can apply this formula for success
Talking to an Interviewer:
Too often we spend our interviewing time talking about why we are right for the job. This sounds a lot like, “And I just think this company would be perfect for me/would help me meet my goals.” No. What you need to be talking about is how you are going to contribute to your future boss’s/the company’s success once you are hired.
What might this sound like?
“I wanted to talk to you today because your job description/your company’s mission statement/your bestselling product is X, and my skill set/my personal passion/my sales experience is in Y. Applying the full force of my expertise to this job will enable us both to reach our goals.”
Talking to Your Boss about a Brewing “Situation”:
The use of the word “situation” here is quite deliberate. The White House doesn’t have a “Crisis Room,” they have a “Situation Room.” Likewise, you don’t have a crisis– you have a situation that needs to be resolved.
So, what would the formula for success sound like here?
“I wanted to bring a potential situation to your attention immediately because it requires expert attention. X has occurred and I have come up with the following two, possible solutions. Is there one that you prefer?”
In this instance, their egg is not as much the mention of their expert attention, but the opportunity you are giving them to apply that expertise to two possible resolution strategies. Having them to choose which they prefer (and tell you why it’s far better) not only allows them to add their egg, but to choose the temperature at which the solution is “baked.”
Talking to a Potential Target at a Networking event
Too many networking events are about what others can do for us, rather than what we can do for them. In my experience, however, the most successful networkers aren’t asking, “What can you do for me?” but “What can I do for you?” In this scenario, then, the formula would likely sound like this:
“Hello, I’m X,” (if your target is standing with another person, or in a group, introduce yourself to everyone present.) “I wanted to introduce myself because I know you are the visionary behind X idea/product/company, and I wanted to introduce you to Y/write about you in my newsletter/ask if I could help you organize your next charity event.”
As you can see, the offer doesn’t need to be huge — the fact that you made it at all is what helps you stand out. Leaving room for them to add the egg of their choice is what will ensure your successful connection.
Happy baking!
Guest Contribution by Frances Cole Jones
Guest advice and opinions are not necessarily those of theglasshammer.com
Career Tip of the Week
Career Advice, Career Tip of the Week!, Guest ContributionSuccessful narrative
Think about how all business leaders tend to have an “arc” to their story. What is your arc? How does the tasks you do, and the projects completed, add up to a narrative for your career?
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
Happy Memorial Day!
Career Advice, NewsWe will be taking a short publishing break, but we will return tomorrow with the latest career advice, news, and inspiring women to help you advance your career.
Please join our LinkedIn community here in the meantime!
Intrepid Woman: Patricia Kozu, Executive Director, Ascend
Intrepid Women Series, PeopleAfter studying math and quantitative analysis, Kozu pursued a job in technology, which she followed up with stints covering a diverse landscape of functions — operations, finance, marketing, product management and business development. And not only were the functions diverse, so were the industries — from telecommunications to consumer packaged goods to financial service. Now she is in the world of nonprofits, which had been her ultimate goal, joining Ascend November 2014.
“I wanted to have the most well-rounded background possible when I entered the nonprofit world where generally we need to wear many different hats,” Kozu says, describing her path.
Ascend’s goal is to help Pan Asians at all phases of their career develop and achieve their leadership potential. According to Kozu, “From students looking for their first job to executives who want to be on corporate boards, we make it easier for them to get involved and benefit from our programs and give back to the community.”
Having just joined the organization, Kozu has a plan in place. “I’ve always been proud when I implement new ideas or find new ways to do things,” she says, adding that her technique is to find the low-hanging fruit to start off with immediate results, then look for opportunities farther out. So, for example, she knows that Ascend, which is celebrating its 10th anniversary, wants to grow its reach but first they have to make sure the infrastructure is up to speed, that the databases and what they use to support members are in place and are strong.
Culture and Gender are Not Invisible
As a third-generation Japanese Asian American, Kozu began her career assuming her gender and ethnicity weren’t relevant, because of her education and experience. “Since I’d worked at brand name companies and had always been focused on professional development, I saw myself as a competent executive. But I soon learned that others bring their own narrative to my story and might see me first as Asian or as a woman. Now, I see that my Asian heritage is an important part of who I am and others can benefit when I share my experience.”
Right now, she’s proud to be releasing results of Ascend’s latest research project called Hidden in Plain Sight, which sheds light on culture and gender. The results are derived from data from six Silicon Valley companies that made their data public. The final analysis was that race has an even bigger impact than gender. She says they found that white men and women have a higher ratio of leadership roles than Asian men, and Asian women have the fewest. She also notes that less than 2 percent of Fortune 100 board seats are held by Pan Asians, and less than ½ of 1 percent of philanthropic dollars go to Asian organizations, even though Asians are the fastest-growing segment of the United States.
“Ascend is shining a light on important issues and providing recommendations,” Kozu says. “We want to continue to move the needle and demonstrate the value of embracing diversity and inclusion. When there’s diversity at the decision-making table, both in gender and culture, the decisions are better.”
Celebrate the Differences
For women beginning their careers, Kozu advises that they make an effort not to blend in; but rather to leverage their differences. She cites Madeleine Albright and her penchant for colorful pins that would spark conversation. “I’ll see a group of young women all dressed in their black suits and I want them to know it’s ok to celebrate your own individuality.” And, of course, she adds, it’s not just about appearances. Speaking up with that different voice is beneficial for the individual and the organization.
Along with Ascend, women-focused organizations can help. Kozu joined the well-established Financial Women’s Association in the 1980s but believes that an organization like Ascend is very relevant and knows it would have been beneficial earlier in her career.
She urges women to consider using volunteer work at nonprofits as an excellent way to develop their skills and leadership techniques.
Each Ascend chapter has officers and committees so there are myriad ways to try something new, whether it’s learning more about marketing or fundraising. “There is always something to learn, and you never know how your volunteer work can help in your business life,” she says.
Kozu notes that she was able to make the move from the corporate to the nonprofit world by honing her skills as a volunteer providing mentoring, tutoring and then as a board member at a variety of nonprofits.
Mentoring also helped make her a better manager, since the questions her mentees ask offer insight into their perspective as young people entering the work force.
“The message I like to give is that it’s not a one-way street. I’ve learned so much from the women I have mentored, and stay in touch as they move on in their careers.”
Diversity includes age, of course, as well. “I am inspired when I see men and women reaching across generations to share their stories.”
Currently, Kozu continues her volunteer work as a member of the steering committee for the Asian Women Giving Circle, where they fund art projects devoted to social justice issues, such as violence and bias.
“We can talk about these issues all day, but that only appeals to the head. Having an arts project that shines light on these issues and appeals to the heart as well can be so powerful.”
By Cathie Ericson