Nancy, a manager of a creative group in a large financial company in the Fortune 500, was facing a dilemma that an estimated 21% of employees in the workplace also face. Soon after joining the company, she had to figure out how to “out” herself as a lesbian to her boss who had “no clue” about her sexual orientation.
“It was very uncomfortable for me to figure out how to say something to him,” she said, “The idea of actually having to tell him was so weird. I hadn’t had to think about it [when I was running my own company] and all of a sudden I was in a position where I had to choose to explain.” She decided to “come out” to her boss in an indirect way, through an offhanded mention of her same-sex partner in casual conversation. And, she added, while her boss was noticeably surprised, it was “no problem.” She continued, “It was just a very interesting sort of experience from that social/work perspective.” To avoid the same awkward situation in the future, she decided to head up the company’s LGBT initiative. “I thought I’d kill two birds with one stone,” she laughed. “I was excited about the opportunity to lead the group. And it was an easy way to “come out.” I just say, ‘Oh, by the way I lead the Pride group.’”
But for lesbian, gay, bisexual, or transgender (LGBT)-identified individuals who have chosen not to “come out” as LGBT in the workplace, simple coffee break conversations represent a potential minefield. While heterosexual couples comfortably discuss their significant others, LGBT employees who choose to remain closeted may not be as comfortable.
Anika K. Warren, co-author of “Building LGBT-Inclusive Workplaces,” the recently-released Catalyst report on LGBT employees in corporate Canada, says that even the simple question of weekend plans, posed to a LGBT co-worker who is not “out” can cause significant added stress: s/he may have to edit activities that might “out” her/him or must be particularly conscious of the pronoun used for her/his significant other.
Warren, a scholar with over 10 years of work on LGBT issues, says that the “hetero-normative assumptions” of heterosexual co-workers is one of the main stumbling blocks. “The everyday assumptions that people make create a hostile work environment for people who don’t have similar experiences or who don’t necessarily want to share their experiences.”
So what stops people from disclosing to co-workers that they are LGBT? Warren said, “Although there are diverse perspectives among the LGBT community in general, we’ve identified for the purposes of our research that employees who were not out in the workplace were not out for one of two reasons: either they have a preference to keep their personal and professional lives separate or they fear potential repercussions. For those employees that are out at work, they cited a range of reasons—personal and professional—including the desire to (1) be authentic (2) form stronger relationships, (3) become role models, and (4) combat homophobia directly.”
Read more
Happy Summer! We’re Off to Watch Some Fireworks…
NewsBut, for those of you not in the States or who are wishing for more of the good reads on The Glass Hammer, we hope that you will take some time to dig into our archives and read some of our more popular articles like these articles on work/life balance, career, professional development, and networking advice, news on women in the Fortune 500 and professional services, the effect of the current economic crisis on women, companies that “get it“, or any of our profiles of top women that we’ve done for our Voices of Experience series.
Ask-A-Recruiter: Discussing Salary Requirements During Job Interviews
NewsI am a trained lawyer who has been laid off from a bank during the economic shake-up. I had been with the bank for 10 years and during this time I have amassed a salary of almost $200k and an additional 10 days of vacation. I would like some advice on how I should handle the salary questions that will be asked at interview, I don’t want to sell myself short but I also don’t want to price myself out of the market. I would also appreciate some guidance on how to negotiate my vacation package.
Read more
Financial Technology Industry Leaders Gather in New York for SIFMA
Pipeline, What's OnBy Pamela Weinsaft (New York City)
Investor transparency, risk management, increased regulation, and “do more with less”: those were the buzz words on everyone’s lips when top executive women and men in financial technology gathered at the SIFMA Technology Management Conference and Exhibit held June 23rd – 25th at the Hilton in Midtown New York.
Over the three days, speakers and attendees alike examined the issues in depth, including:
Perhaps the biggest story at SIFMA, though,was behind the scenes: the buzz about the significant reduction in the size of the event itself, which many saw as a sign of the hard economic times. Several SIFMA veterans took note of certain missing parties from small companies to some of the industry leaders. Said Joanne Kinsella, Managing Director of ITRS, “A lot of the big players aren’t here – Microsoft, Bloomberg, SunGard – and that is a big message. They seem to be having social events rather than having booths. Maybe it brings us back to the talking point– people want to do more with less – and if they can have a drinks party and still get a stack of business cards, that is as good a networking opportunity as any and of much lower cost than the booth. With the increase in social networking upon us, maybe we will see more of this and fewer face-to-face opportunities.” Others noticed that the number of attendees was down as well. One industry leader who has been coming to the event for over 10 years noted that it felt like the number of attendees was down by about a 1/3.
Despite the difference from years past, Annie Morris, Managing Director of Linedata’s North American region, sees the event as having staying power. “It really is all the key players in the financial technology space, so in a way it is like an annual reunion. Even though it is smaller this year, I think it will survive because it is the one event that brings together all the original financial technology players in one place, to talk about what’s going on and what’s new and trendy. The other shows that we go to are very niche. This is the only one that brings all of the different types of organizations together.”
LGBT in the Workplace: One Executive Woman’s Story
Office PoliticsAs women in the workplace trying to break the glass ceiling in Corporate America and professional services, we certainly have our challenges. But, imagine if, on top of those, you felt like your brain was out of sync with your body and you had to hide that fact from co-workers and friends. Today, as our last piece covering LGBT issues in the workplace, we share with you the challenges faced by a now-female executive who transitioned from being a male executive while trying to maintain a high-powered IT career.
The decision to transition from male to female was not a simple one for Meghan, although, as a young boy living a very happy childhood in England, she had always felt trapped in the wrong body. “It was one of those things as a child – I didn’t quite know what it was but I felt there was something different about me. It wasn’t until about 10 or 11 when I saw a newspaper article about a tennis player called Renee Richards [who had transitioned from male to female] when the proverbial light bulb went off over my head.” Puberty was even more difficult for Meghan because she felt that her body was changing in ways her brain was telling her was wrong. “I was going to bed at night praying for three things – I would wake up a girl, that my parents would still love me and that my wardrobe would change. And then I would wake up in the morning in tears because nothing has changed.”
Read more
Voice of Experience: Shannon Schuyler, Managing Director of Corporate Responsibility, PricewaterhouseCoopers LLP
Voices of ExperienceWhile studying at the University of Michigan, Shannon Schuyler, Managing Director of Corporate Responsibility at PricewaterhouseCoopers, had hopes of one day becoming a sportscaster. She would never have predicted that she would end up spearheading the Corporate Responsibility (CR) effort for one of the world’s largest professional services firms. Then again, this is a woman who once taught English to inmates at a maximum security prison in Michigan for college credit in lieu of classes, and who has built a successful career around taking the uncharted path.
Upon graduation, Schuyler headed to southern France, where she intended to pursue a variety of interests, including teaching gymnastics and the further development of her already-formidable horseback riding skills.
Then, tragedy struck. Schuyler’s mother became seriously ill, and she immediately returned to the United States. After her mother passed away, Schuyler decided to stay closer to home and found a job in Chicago working as an executive recruiter placing senior level actuaries in insurance and professional services organizations, including PwC legacy firm Coopers and Lybrand. There she learned of a senior campus recruiting position with the firm. She got the job and is still with PwC, now 13 years later.
Read more
In Case You Missed It: Business News Round-up
NewsContributed by Martin Mitchell of the Corporate Training Group
In case you were too busy to have kept up with all the news, contributor Martin Mitchell has gathered some important market events from last week to help you start this week well informed:
Mergers and Acquisitions
Pride Month: Top 5 Ways NOT to Tell Your Co-Workers You are a Lesbian
NewsYou are a professional woman in finance, law, or business. You probably went to a great university, have paid your dues, and are making way up the career ladder as we speak. Yet, you feel incomplete. You are likely either:
(a) a straight woman reading this thinking its hard to find a decent man to live with/marry/have a baby with (delete as appropriate, ladies); or
(b)a lesbian reading this thinking its hard to find a decent woman to live with/get married to in Vermont (or some other same sex marriage friendly jurisdiction)/ have a baby with (including the endless conversations with your partner about who can father the child) (delete as appropriate, ladies).
But, if you fall into category (b), your challenges are different, especially if you are not yet “out” at work.
Read more
Pride Month: Making it Easier for Professional Women to “Come Out” in Corporate America
Office Politics“It was very uncomfortable for me to figure out how to say something to him,” she said, “The idea of actually having to tell him was so weird. I hadn’t had to think about it [when I was running my own company] and all of a sudden I was in a position where I had to choose to explain.” She decided to “come out” to her boss in an indirect way, through an offhanded mention of her same-sex partner in casual conversation. And, she added, while her boss was noticeably surprised, it was “no problem.” She continued, “It was just a very interesting sort of experience from that social/work perspective.” To avoid the same awkward situation in the future, she decided to head up the company’s LGBT initiative. “I thought I’d kill two birds with one stone,” she laughed. “I was excited about the opportunity to lead the group. And it was an easy way to “come out.” I just say, ‘Oh, by the way I lead the Pride group.’”
But for lesbian, gay, bisexual, or transgender (LGBT)-identified individuals who have chosen not to “come out” as LGBT in the workplace, simple coffee break conversations represent a potential minefield. While heterosexual couples comfortably discuss their significant others, LGBT employees who choose to remain closeted may not be as comfortable.
Anika K. Warren, co-author of “Building LGBT-Inclusive Workplaces,” the recently-released Catalyst report on LGBT employees in corporate Canada, says that even the simple question of weekend plans, posed to a LGBT co-worker who is not “out” can cause significant added stress: s/he may have to edit activities that might “out” her/him or must be particularly conscious of the pronoun used for her/his significant other.
Warren, a scholar with over 10 years of work on LGBT issues, says that the “hetero-normative assumptions” of heterosexual co-workers is one of the main stumbling blocks. “The everyday assumptions that people make create a hostile work environment for people who don’t have similar experiences or who don’t necessarily want to share their experiences.”
So what stops people from disclosing to co-workers that they are LGBT? Warren said, “Although there are diverse perspectives among the LGBT community in general, we’ve identified for the purposes of our research that employees who were not out in the workplace were not out for one of two reasons: either they have a preference to keep their personal and professional lives separate or they fear potential repercussions. For those employees that are out at work, they cited a range of reasons—personal and professional—including the desire to (1) be authentic (2) form stronger relationships, (3) become role models, and (4) combat homophobia directly.”
Read more
From Big to Boutique: The Changing Face of Investment Banking
NewsFrom UBS to Aladdin Capital; Merrill Lynch to Evercore Partners, Lazard, and Greenhill; Morgan Stanley to Perella Weinberg – one-time Wall Streeters continue their defection from large investment banks to boutique banks following the sub-prime mortgage crisis.
Boutique banks, which typically focus on smaller deals than the traditional big firms, garnered a lot of positive attention last year in the midst of the country’s financial crisis and the negative attention focused on Wall Street. Today, these smaller, specialized firms show no sign of slowing down. They are enjoying preferred status as the workplace of choice for some of the top talent in the financial services industry. There are several reasons for the attraction:
Read more
New York vs. London: Which is the Best City for Executive Women?
Top 10Both London and New York are, without question, bustling cultural centers with amazing diversity and a lack of cheap parking. And, because both are considered the world’s predominant financial centers, home to the largest corporations and professional service firms in the world, an epic battle continues to rage on as to which is really the best, the most welcoming, and the easiest to live and work for professional women.
Read more