Contributed by Vanessa Vallely, Founder of We Are The City
Back in 2008, I was a frustrated career orientated mum of 2. I realised that if I wanted to move on in my career I needed to seek other development opportunities outside of my Corporate environment. It only took me a year or so to work out that developing my career was not at the top of my bosses’ agenda and that my boat wasn’t going to come in, I had to swim out to it.
I had heard of women’s networking groups before, but, to be honest I had bought in to the stereotype that these were feminist gatherings where they burned bras and effigies of men. How wrong could one be?! And who would have thought that my frustration would not only lead me to create a solution to the problem, but through that process I would become such a huge advocate of women’s networks.
Despite my original preconception about their value, researching women’s networks in more detail felt like a sensible place to start. I reverted to the old fashioned Google search, and what appeared was nothing short of information overload. There were multiple groups offering all different kinds of support. Some were industry specific, some were senior Women only, others wanted hard cash for what I could see was little in return. My frustration was the amount of information I would have to wade through in order to make an informed decision about where I invested my time and what I would get in return.
What I actually wanted was a one stop shop that could provide me with a synopsis of all of the City Women’s networks, a centralized place where I could see what events were running in my area, a place where I could read articles written by experts that would contribute to my development or spark my creative juices and if possible (as we are women after all) provide me with a bit of City lifestyle guidance, e.g. where to entertain my clients, where to drink with my colleagues, where to shop in the concrete jungle and perhaps even where to get my nails done!
Despite searching, I quickly found no such website existed. So after a bit of convincing from my husband and friends that this was a good idea, coupled with the results of our market research, www.wearethecity.com was born.
Voice of Experience: Stephanie Ruhle, Managing Director, Relationship Management, Deutsche Bank
Voices of Experience“It’s an interesting time to be a woman in this business – you have the opportunity to be a pioneer and affect change. Women might be on the verge of real change thanks to women supporting women. There is a sense of urgency to promote and empower,” said Stephanie Ruhle, Managing Director in Relationship Management at Deutsche Bank.
Ruhle thinks more women are entering the discussion for senior roles on Wall Street. She spoke enthusiastically about the opportunities afforded by the field, as well as the importance of senior female role models to empower the next generation of women.
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Intrepid Woman: Helping Women Connect and Create Opportunities
Intrepid Women SeriesBack in 2008, I was a frustrated career orientated mum of 2. I realised that if I wanted to move on in my career I needed to seek other development opportunities outside of my Corporate environment. It only took me a year or so to work out that developing my career was not at the top of my bosses’ agenda and that my boat wasn’t going to come in, I had to swim out to it.
I had heard of women’s networking groups before, but, to be honest I had bought in to the stereotype that these were feminist gatherings where they burned bras and effigies of men. How wrong could one be?! And who would have thought that my frustration would not only lead me to create a solution to the problem, but through that process I would become such a huge advocate of women’s networks.
Despite my original preconception about their value, researching women’s networks in more detail felt like a sensible place to start. I reverted to the old fashioned Google search, and what appeared was nothing short of information overload. There were multiple groups offering all different kinds of support. Some were industry specific, some were senior Women only, others wanted hard cash for what I could see was little in return. My frustration was the amount of information I would have to wade through in order to make an informed decision about where I invested my time and what I would get in return.
What I actually wanted was a one stop shop that could provide me with a synopsis of all of the City Women’s networks, a centralized place where I could see what events were running in my area, a place where I could read articles written by experts that would contribute to my development or spark my creative juices and if possible (as we are women after all) provide me with a bit of City lifestyle guidance, e.g. where to entertain my clients, where to drink with my colleagues, where to shop in the concrete jungle and perhaps even where to get my nails done!
Despite searching, I quickly found no such website existed. So after a bit of convincing from my husband and friends that this was a good idea, coupled with the results of our market research, www.wearethecity.com was born.
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A Brave New Regulatory Environment: The Glass Hammer’s Women on the Buy-Side Breakfast Panel
Industry Leaders, Leadership, Women on the Buy-SideModerated by Donna Parisi, Partner, Shearman & Sterling, the panel included Viva Hammer, Principal, KPMG Washington National Tax; Sarah Lee, Managing Director, Global Head of Fixed Income Derivatives Legal, Bank of America Merrill Lynch; Cynthia Meyn, Executive Vice President Operations, Pimco; and Barbara Novick, Vice Chairman, BlackRock.
Parisi commented, “It’s a brave new regulatory environment, and it will take a lot more resources going forward.”
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Dare to Ask – Learn the Right Tools to Negotiate Today
Expert AnswersThe ‘inconvenient’ truth is that to fully prosper as both a class and – perhaps more importantly – as individuals, women must get better at asserting themselves. Policy and statute are certainly critical to stop flagrant, documentable abuses. Context is important. But women themselves must, in a phrase, become considerably more comfortable about asking for what they want and be adept in getting it.
It was to that end – empowering individual women with skills that couldn’t be marginalized – that I set out to write Dare to Ask! A Woman’s Guidebook to Successful Negotiation. Good negotiating texts available, but few directly show women how to negotiate as women!
There are many reasons women often avoid negotiating – some are part cultural, some are part social, and some are part biological.
One more factor needs to be mentioned: women have typically not been mentored in negotiating. Most fathers don’t teach daughters how to ‘dare to ask’ for what they want. At work, men will often be exposed early in their careers to situations that call for negotiating; women generally will not be (although this is starting to change as more women penetrate the glass ceiling).
Examples of women suffering from their well-documented reluctance to negotiate are legion. We cite in Dare to Ask! a classic study of the starting salaries of graduates from prestige business schools: those of men were 6% higher than those of women (even more when bonuses are included, with initial differentials compounding over time) because, unlike their female counterparts, they didn’t accept the first deal offered. Even women lawyers, working in a field that focuses on negotiations, are underpaid; at the highest level of elite firms, female partners are paid on average $66,000 less than their male counterparts (this according to Professor Joan Williams of the University of California Hastings Law School).
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5 Questions Professional Women Should Ask During a Job Interview
Next LevelEveryone with any interviewing experience knows that before an interview you must do some research. Look into the company or organization you are interviewing with. Learn their mission and their interests. Read about the position that is available. Study as much as you can about the bosses and supervisors. While most everyone knows to prepare for an interview, many still fail to prepare for one crucial part. At any interview an interviewer is going to ask if you have any questions. You should always have some prepared and educated questions to ask your employer. Looking for a job is a stressful time in any individual’s life.
But with the pressure to land the position and get the paycheck, many interviewees fail to remember that an interview is a two way process. You are interviewing your potential employer just as much as that potential employer is interviewing you. The following are five essential questions every interviewee should ask during an interview.
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35 Under 35: Stephanie Niven, Portfolio Manager, Javelin Capital
35 Under 35Twenty-seven year old Stephanie Niven is aiming high. As sole Portfolio Manager of the Fundamental Strategy of the Global Equity Strategies Fund at specialist equity boutique Javelin Capital LLP, she has already been named both the Young Professional of the Year at the Women in Banking and Finance (WIBF) 2011 Awards and as one of Management Today’s 35 Women Under 35.
The list, published annually, showcases the UK’s highest achieving young women, acknowledging female talent in a variety of industries and disciplines. Nearly half of this year’s list includes women involved in the successful start-up of new corporations, with Stephanie’s inclusion reflecting her role as part of a three person team from Goldman Sachs who established Javelin Capital in 2009.
A self-described “geek”, albeit one who also competes in triathlons, Niven’s career indicates how it’s possible to find success in the City without the typical background of an economics or finance degree. She has a double first in History from Oxford University and describes history as her “passion, rather than a vocation – but the skills that I bring from an arts degree, such as assessment and the ability to constantly be learning, are very useful in a stimulating environment such as the City.”
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Working Fathers Struggle to Balance It All: What That Means for Women
Work-LifeA recent report by A Better Balance: The Work and Family Legal Center, a national legal advocacy organization, revealed that nearly 85 percent of fathers feel pressure to be both a financial provider and an engaged parent, and three out of four fathers worry that their jobs do not allow them to be the kind of dads that want to be.
The report, entitled Beyond the Breadwinner: Professional Dads Speak Out on Work and Family, also found that more than half of the 250 working fathers surveyed identify work-family balance as a source of frequent stress. A larger study by The Boston College Center for Work & Family surveyed 1,000 white collar fathers from large corporations and came to similar findings: Dads are struggling to juggle their dual roles as caregiver and breadwinner.
Now we must ask ourselves: will companies be more receptive to offering flexible work options now that working fathers are struggling to balance it all? And if so, why did it take men feeling the pinch to get the attention of corporate America when women have been struggling with the same issue for years?
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Voice of Experience: Karen Ho, Chief Operating Officer, Broadway Technology
Voices of ExperienceKaren Ho, chief operating officer of Broadway Technology, a trading technology solutions provider for top-tier banks and hedge funds, is an avid Mets fan. She recalls a game they played at Wrigley Field when she was living in Chicago and working at O’Connor and Associates.
“I went to the game with some of my colleagues and no one would sit next to me because I was wearing a Mets cap,” she said. “The Mets were leading all the way into the 9th inning but the Cubs won in the end.”
Ho’s integrity and enthusiasm have helped her excel as a leader in her career from an early age. For example, having becoming Managing Director at Bank of America at the age of 30, Ho has taken her skills to Broadway Technology to help turn it expand internationally.
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Schmooze Like a Pro: 5 Expert Tips on Networking
NetworkingFor many people, networking is on par with dental extractions when it comes to their list of favorite activities. For example, a friend of mine confided in me her horror about an upcoming corporate retreat for new hires, including an team-building adventure course and “trust falls.” Networking is often a painful experience, and the prospect of having to “fall” into the arms of a stranger – and then make small talk with him – only compounded her apprehension.
Perhaps this dread helps explain why so many people at networking events suddenly turn into pitch-men (and women), attempting to sell, sell, sell to anyone who will listen – and why an equal number suddenly sprint to the bar for a refreshment in response to a particularly unctuous pitch. But the uncertainty doesn’t stop there. At a panel event, for example, the question of whether or not to approach the speaker afterward gnaws at your brain. Common wisdom says to do these things often, yet so few people know how to do them well.
But then, of course, there are those confident types who seem to work a room effortlessly. Gold dust falls from their eyelashes as they confidently shake hands with strangers without even a hint of sweat in the pits of their perfectly starched shirts. She will come home with C-level business cards and action plans. She will get buckets of referrals. What is the secret to such networking prowess?
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Four Innovative Initiatives to Attract and Retain Diverse Women
Industry Leaders, LeadershipRecently, Working Mother Magazine released its 2011 list of the best places to work for multicultural women – essentially, a survey of the availability and usage of diversity programs, as well as the accountability of the managers who oversee them at top corporations. For the fifth year in a row, Pepsico has been named number one, along with with 23 other companies, all of which are committed to supporting women of color with strong diversity, leadership, and education programs. Here are four of the most innovative initiatives included on 2011 list, that help advance and retain diverse women.
IBM
IBM’s cutting edge Reverse Mentoring pilot program turned mentoring on its head. Ten senior executives were given the opportunity to choose a culture they wanted to learn more about and for 10 months, and multicultural women (who were primarily non-executives) from these cultures acted as their mentors, helping them better understand cultural differences. The need for the program was identified as a key initiative of the Multicultural Women’s Group at the company, whose mission it is to attract, retain, and develop women through mentoring, networking, fostering a sense of community, and exchanging information.
According to Angela Archon, IBM’s VP of systems and technology, the program promoted cultural sensitivity and adaptability and demonstrated the impact of globalization and why culture matters.
“The hallmark of the program was to increase knowledge and sensitivity around cultural differences and continuously improve global collaboration. It helped dispel myths; it provided clarity to issues related to stereotyping; and it increased cultural awareness,” Archon said. “Executive mentees gained knowledge about their mentor’s culture and how business is done in that culture and the multicultural women who served as mentors had the opportunity to build a relationship with an IBM executive and enhance their leadership capabilities.”
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