Voice of Experience: Kristi Mitchem, Chief Executive Officer and Head of Wells Fargo Asset Management

Kristi's Mitchem Wells FargoWells Fargo’s Kristi Mitchem believes that women need to visibly support one another. Where a man might readily high five another man for something unremarkable, research shows that women can be more reserved in their praise. Women are naturally aligned with other women and as such, Mitchem stresses the importance of consciously and vocally “friending” one another in corporate settings. “I tell women not to come out of a meeting without commending another woman. You want her to know that it’s important that she shared her opinion,” Mitchem says. “You also want the men in the room to recognize that she has value to add. “

Erasing gender inequality is an issue that Mitchem is passionate about—particularly in Corporate America, where she’s spent her career. “If you’re a young woman coming into finance today, you don’t see a lot of successful women in elevated positions. We need to have women visible in high-level positions so young women can see what’s possible.”

As it relates to advice she gives others, Mitchem cites strong communication skills as an imperative for success. “I consistently see women who could improve their skills in the area of presence and would benefit from seeking guidance on how to talk persuasively and powerfully,” she says. “One of the most wonderful things I have realized is that it is a learned behavior that you can enhance over time.”

Weaving Her Way Around a Successful Career

Mitchem was a Fulbright Fellow in Costa Rica, and her study there ignited her interest in Latin America and her desire to flex her language muscles. One of her first positions was with CS First Boston in the firm’s Latin America Finance Group, where she split her time between New York and Mexico City, working primarily on finance assignments. After completing the analyst program, she went on to earn an M.B.A. from Stanford University and completed a summer program with Goldman Sachs, where she accepted a full-time position in the emerging markets fixed income group as a sales trader in New York City.

As her career took off, love intervened. Mitchem became engaged to someone she’d met at Stanford who was starting his own company, and given the geographic realities, she took a position on the west coast, moving from sales trading in emerging markets to equity derivatives.

It was an auspicious time given the rise of tech hedge funds coinciding with the greater predominance of index fund management, and being part of that rapidly growing business allowed Mitchem to make a name for herself. At Goldman, she was selected for a program within the firm that identified high-profile candidates and gave them specific support needed to move forward in their careers. Mitchem credits this program with helping her achieve the designation of managing director.

As Mitchem was ready to take her next career leap, family again interceded. Pregnant with her third child, she decided she needed to move away from working market hours and perennially waking up at 3:30 a.m., which can take a toll. So while she wasn’t looking to leave Goldman, per se, she knew she needed a schedule that was more sustainable.

She joined one of her chief clients, Barclays Global Investors (BGI), helping them turn around their transition management business.

“I brought in great talent, and we were cooking with gas within a year,” Mitchem says. “One of the things that defines me is that I have a lot of energy and like to move on when something is complete, and the talent is there to support it. My next thought is always ‘What’s next?’”

Her CEO asked her to take on something completely different, leading an initiative around the defined contribution (DC) market in the United States where she says she had the amazing opportunity to build a team from scratch and capitalize on this growing segment of the marketplace.

When BlackRock bought BGI, she decided it was time to move on so she joined State Street Global Advisors (SSGA) to help them grow their DC business. She was subsequently asked to take on various new roles and ended up managing all of the Americas institutional business.

While at SSGA, Mitchem achieved one of the professional accomplishments that she is most proud of, which is an intersection between a personal passion and professional opportunity. That came in the form of an ETF launched in 2016 that invested in companies in the Russell 1000 committed to making progress in terms of gender representation at the most senior levels of management. “We were putting capital behind the companies that were making a difference on gender equality, which is a true win-win — investing in something that will have a positive expected return and also aids in the achievement of gender parity,” Mitchem noted.

In June 2016, she began her new position as CEO of Wells Fargo Asset Management which she calls a “fascinating assignment and an incredible opportunity to deliver value to clients through a large organization with so much reach.”

One of the most interesting and challenging trends she is addressing is the money moving out of active management, as well as the changing regulatory environment. “Now more than any time in my career I feel I’m at the point where I can play a key role in helping an organization pivot, as we build expertise in multi-asset strategies and quantitative investment management to add to our already strong platform in fundamental active management.”

To that end, she has spent much of the last year building out quantitative capabilities at Wells Fargo Asset Management, including the acquisition of Analytic Investors, a leader in factor-based investments based in Los Angeles. Although active management is in the firm’s DNA, she contends that it can co-exist symbiotically with multi-asset and other quantitative strategies under the same roof.

As Mitchem looks back on her career, she says that one thing she wishes she’d known more about is the science on women in the workforce. “I remember getting a review as an associate at Goldman and after a positive performance recap, my boss said that I needed to be more ‘likeable.’ At the time I obsessed about it, but I know now that there are numerous scientific studies showing that as women become more successful, they are typically rated as less ‘likeable,’” she notes. Mitchem feels that if she had had that information, she would have pushed back or perhaps put the feedback more in context. The trick, she says, is to separate the feedback that is unique to you that you can use to improve your performance, compared to what’s related to more broad-based gender issues.

The Right Support Network Makes All the Difference

When Mitchem considers her success, she is quick to give credit to her husband and her caregiver. “It may sound strange, but you have to find the right partner for your life who will support your aspirations. If it’s to be a stay-at-home mom, great; if it’s to work, great. But if you are leaning toward one way or another, the person you choose may be different,” she points out. “My husband has always been tremendously supportive of my career, and I believe it’s important to model a working spouse for our children.”

Secondly she credits her children’s caregiver, whom she calls a “pillar.” “We have had the same caregiver for our children since our first daughter was born and she is truly a co-parent with us, enabling us to have successful careers and a well-adjusted family.”

Mitchem also finds time for camaraderie with other women; having reignited her love of tennis over the past couple of years after playing as a kid. “It allows me to dual task – getting exercise in a way I love while socializing with fantastic women.”

With three girls, ages 16, 13 and 11, she is acutely aware of her position as a role model, and has always integrated her children in her work, even bringing them on business trips when they were younger. “We love to travel as a family, and one of the interesting things about my career is that I’ve had the opportunity to live and work in different countries, which has given me a true appreciation of other cultures. I believe that, as a parent, it’s important to impart a curiosity about the world to your children.”

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The Motherhood Penalty: Overcome this Career Advancement and Wage Blocker

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Guest contributed by Josie Sutcliffe

motherhood

Image via Shutterstock

Despite considerable attention, the gender wage gap has only improved by 8% in the last 20 years — a slow pace of improvement that indicates removing the gap entirely is more than a generation away.

What’s holding up progress?

A Visier Insights report analyzed an aggregated database of over 160,000 US-based employees of over 30 large US enterprises and found that there’s an underrepresentation of women in manager positions — in particular during the key childcare years — directly driving the overall gender wage gap. This finding is known as the Manager Divide and has a strong correlation to motherhood.

The Motherhood Penalty

Simply put, during the key childcare years women are increasingly less likely to hold manager positions, which directly impacts their average earnings compared to men.

At the time the gender wage gap begins to widen (starting with women at age 32 earning on average 90% the wages of men and decreasing to just 82% by age 40), women are increasingly underrepresented in manager positions. This directly drives the gender wage gap as managers earn on average two times the salary of non-managers.

diagram

The Manager Divide occurs during the key childcare years: most women in the US who have children give birth to them between the ages of 25 and 34. And with most children entering school (and, therefore, requiring less childcare) at age 5, women who have children are most likely to experience increased childcare demands up until the age of 39. Despite an increased trend towards equal parenting, in today’s society women still typically take on more of the family care responsibilities. These responsibilities impact their careers.

It’s worth noting that, when reviewing promotion events by age, there is no significant difference in the overall rate of promotions in any age range for women or men. In other words, women are promoted at the same rate as men during the Motherhood years, but men are more likely to be promoted into manager.

If the Manager Divide was removed and, therefore, the same proportion of women held manager positions as men, the gender wage gap across all workers would be reduced by just over one third for those over age 32. If this “augmented” population of female managers were then given the same average salary as male managers, the gap would be cut in half.

diagram

Taking Steps to Finally Close the Gender Wage Gap

If a company pays women and men the same for equal work, but then underrepresents women in the better-compensated manager roles, that company has not achieved gender equity.

Here are some actions leaders can take to promote and ensure gender equity:

  • Get a high-level understanding of the state of gender equity within your organization. Start with simple metrics like “female ratio” (looking at the percent of total headcount that are female) by department, role, and/or location, and in your hiring pipelines.
  • Dig deeper by finding out if pay and performance ratings are unbiased for men and women. Compa-ratio is a classic compensation calculation that indicates how close a person’s base pay is the pay level midpoint for the role they perform. If women have a lower than average compa-ratio, then it is likely that pay decisions are not being made equitably. Similarly, understanding the proportion of employees who receive each level of performance rating and then comparing this to the proportion of each rating for female employees will uncover if performance ratings are handed out in an unbiased manner.
  • Measure not only promotions by gender, but also the nature of the promotions: by role, department, or location, find out if the percent of women promoted to or holding manager positions is lower than the percent of men promoted to or holding manager positions.
  • Take steps to correct gender inequity, starting with your processes for hiring and promotion. Implement the Rooney Rule: for every manager position you have open to fill, consider “at least one woman and one underrepresented minority” in your slate of candidates. Consider blind screening of resumes (removing names or other gender identifiers from resumes) when selecting applicants for interviews. And introduce consistent and gender bias-free performance management processes.
  • Given that the Manager Divide is connected to the years when women are most likely to have increased childcare demands, look into ways your organization can better support paid parental leave. It should be equally available to mothers and fathers, and be socially acceptable not just for mothers, but also for fathers to take. Flexible working time arrangements could be a key part of your solution.

Make the business case for gender equity at your organization. It isn’t just about fairness, avoiding lawsuits, and protecting (or building) your employer brand (check out the InHerSight for an idea of what the future holds — a Glassdoor-type site that focuses on rating companies from the perspective of their support of women). Research by McKinsey shows that companies in the top quartile for gender diversity are 15% more likely to have financial returns above their respective national industry medians. According to a  2016 McKinsey Global Institute report, if full gender equality is attained, $4.3 trillion could also be added to the U.S. economy by 2025.

Disclaimer:  The views and opinions of Guest contributors are not necessarily those of theglasshammer.com

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Increasing Accountability in Yourself and Others

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Guest contributed by Linda O’Neill, VP of Strategic Services at Vigilant

accountability

Image via Shutterstock

Almost every executive I talk with desires a more accountable organization. Many of them are running highly effective and profitable companies and it is their goal to keep the bar moving up and to the right.  There is room for improvement. In an accountable organization each employee understands his/her role and each employee can be counted on to do his/her job with no surprises. When a company’s culture embraces accountability, employees are self-motivated to contribute to the success of the organization.  It’s important to remember that accountability is voluntary – you can’t make employees (or anyone else) more accountable. There are, however, steps you can take to increase the likelihood your employees will choose to be accountable.

  1. Define it. It is important that everyone in your organization define accountability in the same way. Spend some time on this as a leadership team. Webster’s dictionary uses words like “answerable” and “explainable” to define accountability. To me, the most important element of accountability is the obligation to answer for our actions. It’s not just completing the actions.  It’s being responsible for the consequences of our actions in addition to completing them. It involves taking ownership of your job. There is no room for blaming others. What’s more important than the way I define accountability, however, is the way you define it for your organization. There is no right or wrong answer.
  2. Communicate it. Communicate the company’s expectations around accountability – broadly, consistently and frequently. You will be the most successful when you communicate accountability in context with the company’s mission, values and goals. When each employee understands that the way his/her job is done affects the company’s performance, you will experience greater individual and collective accountability. Put more control in the hands of employees for how they meet the expectations of their job/role. Employees who feel responsibility will also more willingly embrace accountability.
  3. Reward it. Just as you spent time defining accountability, spend equal time understanding how you will measure and then reward it. As the company makes progress toward its goals, share the information broadly. “The Carrot Principle” by Adrian Gostick and Chester Elton is a great book to gather ideas about rewards. The authors stress that rewards must be deliberate. Create a system for yourself. You won’t just “remember” to reward employees. Tie the rewards to company goals and the employees’ role in meeting those goals. Communicate how the employees’ accountability (obligation to answer for actions) affected the goals.

Wanting more clarity around measuring accountability

It is important for every employee at every level in the organization to have a document articulating his/her accountabilities (similar to a S.M.A.R.T. goal document). I like calling this document simply “<Name> <Year> Accountabilities” (i.e., mine would be “Linda O’Neill’s 2017 Accountabilities”). Identify the categories important to your business, such as financial performance, customer service, team leadership and executive maturity. Clearly articulate the accountabilities in each area. Once you have a complete list of an employee’s accountabilities, define how you will measure success. For example, an employee may be accountable for bringing in $15 million in service billings for the fiscal year. The employee would record the results achieved at the end of the period.

Wanting greater accountability to self

Accountability comes from the inside out; it is a choice. Let me say that again: Accountability comes from the inside out; it is a choice. As a result, it makes sense that learning greater accountability to self enhances accountability on the job. Positive change begins with individuals changing themselves. You can translate the same strategies listed in the “wanting more accountability from others” to yourself. First, define what accountability means to you. Do you take an “owners” mentality to the commitments you make to yourself as well as the commitments you make to others? Next, spend some time noticing how your actions compare to your definition of accountability. You might want to write down every commitment you make to yourself or someone else for a week and then notice what supported or what got in the way of your accountability. What conclusions can you draw about you learned? What small change will you make to increase your satisfaction with your accountability to self? How will this enhance the way you model accountability for others?

Conclusion

Accountability means being doing what you said you would do, and being answerable for all of your actions –those that influence others and those that affect only you. When there is little accountability in an organization, stress levels tend to rise, communication is reduced, and territorialism is pervasive. When accountability is strong, employees are engaged, performance is high and company goals are met. What choice will you make to improve accountability both within your organization and within yourself today?

Disclaimer: Opinions and views of guest contributors are not necessarily those of the glasshammer.com

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Voice of Experience: Efrat Ravid, CMO, ContentSquare

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By Louise Magrathefrat

I’m a great believer that women have what it takes to be great engineers, says ContentSquare’s Efrat Ravid. “It’s imperative that more woman study engineering and technology to ensure that more women enter the field and become technology leaders. Women should be represented at least at a 50% ratio in engineering schools, in engineering companies, and in every aspect of the technology world.”

Encouraging Women to Enter the World of Technology

As an engineering student, Ravid was in a small class with 22 other students and only four of them were women. Many years later when she went for her MBA, she was in a class with 56 students, and still only six of them were women. Fifteen years later, and nothing had changed. Ravid was determined to play her part in changing this. “I wanted to make a difference, to encourage and support women in the world of technology to try and address this imbalance,” she says

She sees the demand in the market for engineers, and she knows that if women get their degree in engineering, they will be able to find great jobs and add value to their companies from day one.

Ravid began her career as an engineer, where she was sent to inland China to work directly with manufacturers and factories. Although a very young engineer at the time, she wanted to take the next step with her product and interact directly with customers to make better product versions. It was in doing this that she found her passion for the customer experience. She spent her time traveling around China and Korea and developed products that customers appreciated and got value from. “I was determined from the start to be successful, and through hard work, commitment and enthusiasm, I saw the business grow,” she comments.

Sponsorship and Mentoring of Women in Technology

Today, Ravid is the Chief Marketing Officer of an exciting SaaS company, and uses her position to mentor and sponsor other women. “I believe it is up to us as women to empower other women to become leaders in the technology industry,” she says

Ravid is passionate about hiring ambitious women who promise to do a fantastic job for ContentSquare. She believes that if women are capable and engaged that they will be successful no matter what their circumstances are (she employed the first female sales person for the US when she was six months pregnant) and comments, “When you are engaged, you are engaged. A woman can be amazing at many things at a time, and someone who is dedicated in one area can easily be dedicated in another.”

A week after this sales person was hired, she traveled with ContentSquare to a trade show in Las Vegas and she was amazing. She was the first one to show up, the last one to leave. This was a very successful woman who cared about her career, cared about her kids, and cared about her family. “I look for the value and talent in each person I hire, and take this mindset and apply it to everything that ContentSquare and I do,” she says.

Motivation for a Career in Technology Starts at Home

Ravid encourages her own children to enter in to a career in technology. Although she tells them that they can be whatever they want to be, she encourages them to study math and science.

Ravid’s daughter has accompanied her to work and was fascinated by all the successful women in the company (the head of product is a woman, many of the customer success managers are women and there are female operations managers as well). “She was so caught up with all the female role models she saw that she simply said at the end of the day ‘I’m in’,” she comments.

When Janine Tesori won her Tony Award in 2015 for Best Original Score, she told the crowd that as a young woman she didn’t realize she could have a career in music until she saw a woman act on Broadway. Holding up her Tony, she said, “For girls, you have to see it to be it. We stand on the shoulders of other women who have come before us.”

So to all the tech-women out there, Ravid thinks it’s time to bare our shoulders to the world, and give women a positive vision for success in technology.

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The Multitasking Way of Life

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office

Image via Pixabay

 

Guest contributed by Terri R. Kurtzberg and Jennifer L. Gibbs

There’s an old joke that says that if a man wants to know what a woman’s mind feels like, he should imagine having a browser with 2,857 tabs open ALL THE TIME. Indeed, we do, as a society, promote the image of women as multitaskers—balancing the needs not only of our families alongside our careers but also serving in caretaking roles as well as more content-filled ones, even in the workplace. In addition, many have noted of late that women are predominantly the ones who are expected to keep track of information—across domains—in their heads. While there may be some real truth to the fact that expectations for women’s roles and knowledge do cross boundaries more often (in the big picture sense as well as in the minutes-of-the-day sense), there’s also a great fallacy in this line of thought.

Unfortunately, the truth (as we know it from cognitive science research) is that human brains, of any gender, are poorer at multitasking than is generally thought to be the case*. Our brains just weren’t meant to do the amount of parallel-processing that we so often attempt in today’s world. So, for example, trying to answer a text message while still holding onto the thread of a conversation or meeting already in progress is generally not fully successful. It may be successful enough—that is, it may be possible to string together enough of the information in the conversation or presentation even though there are gaps in what you heard or could process while you attended to something else—but there are two problems with this. First, there are indeed gaps, since our brains in fact cannot process two language-based tasks at once, and so we don’t always know what it is that we missed and whether it would have been important to our overall understanding of the topic.** Second, there is the issue of burn-out.*** Simply put, it is exhausting to have multiple streams of unfinished business (or “open tabs”) ongoing in the mind. Most people, but perhaps women especially, underestimate the toll that this takes. We assume that through sheer force of will, we can be successful at keeping all the balls in the air.

Thus, while research on distraction and multitasking has not yielded strong differences in the way it plays out for men and women, there certainly are important lessons for women aiming to make strides into higher positions. These fall into three categories:

  1. Know thyself: Understand that we are doing ourselves a disservice by constantly trying to keep track of too many things simultaneously. Then, do an “audit” for yourself by watching your behaviors and your incoming messages for a week. How many of them actually needed your attention immediately? Find the worst offenders, and make changes. Turn off notifications for blocks of time, set expectations by letting people know (perhaps through an outgoing email note) that you will respond to messages at the end of each day and not continuously, but to do X in case of truly time-sensitive needs, and remove your phone from your line of vision whenever possible.
  2. Know that you are being watched: People see you on the phone when you are in front of them. They can even reliably tell when you’re not listening with your full attention even if you’re not visible (say, on a conference call or one-on-one phone call). And yes, they absolutely do think differently of you for this lack of focus.**** Give the gift of your full attention. If you do need to pull your attention away, own up to it by explaining why to those engaging with you.
  3. Know the power of setting the tone from the top: Leaders have an opportunity to step in and make decisions to help rein in the problems stemming from the over-use of mobile devices. For one thing, there is a strong “monkey see, monkey do” effect that happens with respect to use in the professional setting. This problem is exacerbated since communication technologies have only existed for a tiny sliver of time, relative to human development, and continue to change so rapidly. Therefore, the “rules” are still being established for when and where it is appropriate to be engaged with technology instead of with the surrounding people. Being the social animals that we are, we are thus very tuned in to watching how other people are using their mobile devices, and tend to follow suit. For example, it is common to see one person bring a laptop to a meeting one week, followed by a whole crowd of people with their laptops open the next week. Similarly, seeing your colleagues answer emails at all hours of the night and on weekends put tremendous pressure on you to follow suit—a pattern that results in both lower productivity and higher turnover. These slippery slopes can be avoided by a wise manager attuned to the dangers of too much connection, and who makes explicit policies to the contrary.

Women are indeed pulled in many directions at once, and do keep track of many, many different “open tabs” each and every day, especially as they rise to higher levels at work. However, it is important to understand the natural limitations on human cognition as new technologies stretch the amount we ask of ourselves and our minds. Only then can you best out of yourself and those who count on your leadership.

 

*Ophir, E., Nass, C., and Wagner, A. D. (2009). Cognitive control in media multitaskers. Proceedings of the National Academy of Sciences USA, 106, 15583-15587.

**Bowman, L. L., Levine, L. E., Waite, B. M., and Gendron, M. (2010). Can students really multitask? An experimental study of instant messaging while reading. Computers & Education, 54, 927-931.

***Wajcman, J., & Rose, E. (2011). Constant connectivity: Rethinking interruptions at work. Organization Studies, 32, 941-961.

****Kurtzberg, T.R, Naquin, C. E., and Krishnan, A. (2014). The curse of the blackberry: Multitasking and negotiation success. Negotiation Journal, 30.

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Why Does Being Recognized in Our Job Matter?

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 By Nicki Gilmour, Executive Coach and Organizational PyschologistNicki Gilmour

 

We all have different personalities and we all have different needs, some based on personality and some based on the constructs and paradigms that we have become attached to over time.  Some people care about status and title and others care about responsibility or money regardless of title. No one is right and no one is wrong as it is just who we are and how we have been formed via socio-norms, our own experiences and also our interpretation of those experiences.

While need for recognition scores on psychometric tests vary person to person, we all have in common a basic need to feel that people see us  in the most primal human sense and that it matters that we are there.

So, what happens if you feel that you aren’t making a difference? That if you left tomorrow, if wouldn’t matter? If it’s at work only* then its time to review what can you do to feel better about your visibility. Or it is possible that you are experiencing burnout and just need some renewal from the grind. So, how do you get that renewal in a busy world with situations that seem to need resolution as quickly as they appear on your radar?

I read an interesting piece yesterday about coming at a hard project with renewed vigor yesterday with  “Rest and Return” being one strategy when feeling stuck. Equally, having a learner mindset, by that I mean, knowing you are there to learn and not judge yourself harshly but rather learn from what happened. This can really help with longevity in any career and in life generally.

If you are in the mood for post Thanksgiving read, there is an easy book that can make you reflect a little of how you frame things to yourself. “Change your questions, change your life”  by Marilee Adams. Or an exploration of your mindset and how a fixed mindset can hinder you will take you to Carol Dweck’s mindset work. 

As a coach, I firmly believe that growth and renewal can only be achieved when you look at past patterns and current mental models and see how they are affecting your future plans.

Sign up for a five session coaching package with me for $2000 to get you off to a good start for 2018. Book an exploratory call here to see if I can help you thrive not just survive, advance, change jobs or figure out the next 12-24 months at work.

 

**If you are  feeling blue about other areas of your life its probably best to see a therapist or clinical psychologist as well as a coach.

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Voice of Experience: Kerone Vatel, Managing Director, Risk Division, Goldman Sachs

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KeroneBy Cathie Ericson

“When you have a seat at the table, use it,” advises Goldman Sachs’ Kerone Vatel. “In my 20s I often had an opportunity to interact with executives as part of strategic conversations, but I was reluctant to share my point of view. I know now that in each of those moments I missed an opportunity to influence the organization. I was more focused on my neuroses rather than on the value I could add, but recognizing this has helped to sharpen my focus and my approach in the workplace.”

Adventures in Careers: From Engineering to Business Success

Kerone studied chemical engineering at MIT, a field she pursued and was interested in as her father had been an engineer. While she was drawn to the way engineers are trained to review, evaluate and solve problems, she ultimately realized that rather than publishing research in academic journals – a career many of her classmates were pursuing – she was motivated to use her skills to disrupt existing processes.

She parlayed that interest into a career in business, initially seeking a private equity role. However, just three days before she was supposed to begin her new position, came “Career Stumbling Block Number One,” as the firm let go her entire analyst group.

Undaunted, Kerone sought the counsel of MIT’s career department, which directed her towards Capital One. The company was pioneering a novel approach to leveraging analytics and data, which interested her. Kerone joined as an analyst in the business development group, where she leveraged her math and coding skills to help grow the portfolio of low-risk credit card assets. She also attributes her six and a half years at Capital One with providing her the platform to understand strategy and analyze consumer needs.

Kerone soon relocated to New York, where her husband worked on Wall Street. They were starting a family, which made her commute to Virginia difficult. While on maternity leave, her husband was supportive and encouraged her to consider every option. She soon realized that she couldn’t leave her baby and commute up and down the East Coast, and subsequently made the difficult decision to leave Capital One.

Soon the time was right to investigate new options, and she applied for a role in Derivatives Operations Risk at Goldman Sachs, which she assumed would be a 9- to-5 type job. While her new position proved to be far more immersive, she enjoyed the challenge of a new role, and then decided to pivot her career even further, leveraging her experience in writing code. She found analytics projects to “tinker with,” as she describes it. Under the leadership of a female managing director, she helped to improve efficiencies and highlight high-risk issues in the Operations Division.

From there she moved into a new role, where her team partnered with the Strategist group, many of whom had quantum math and science backgrounds. She eventually transferred to the Operational Risk group in a firmwide role, where she was brought in to support strategy and help develop a more centralized construct when thinking about the full range of operational risk exposure, from technology issues to natural disasters. It’s a position she finds particularly fascinating as she has helped grow the team significantly and developed strong partnerships and collaborations as the firm reframed its approach to Operational Risk management.

Looking ahead, Kerone is excited about Goldman Sachs’ launch into the consumer market, and the opportunity to increase purchasing power and bring the firm’s best-in-class fiduciary services to Main Street.

Words of Wisdom Gleaned Along the Way – And Passed Along

Kerone has learned a number of valuable lessons during her journey; chief among them is to bring your whole self to work. “I felt relatively unsure of myself until I hit my mid-30s and always tried to morph myself into the styles of the people around me,” she says. “Today, I just focus on being my best self and no longer feel pressure to adapt a style that is foreign to me.”

For example, she recently had a colleague comment that she looked particularly serious one morning. “I’d had a tough morning with the kids, which I shared with my colleague. It’s ok to bring yourself to work and to show vulnerability, but it’s very important to provide team members with the context for what’s happening and why.”

In a similar vein, Kerone recommends that women never worry alone. She believes that it is important to leverage the collective ideas and history of the organization to ensure success. When she’s asked to take on a difficult new project, she will always say “yes,” but now realizes the importance of soliciting advice upfront to tease out pitfalls and key enablers and to collect diverse points of view to shape the solution. “Earlier in my career, I kept my head down and worked extremely long hours – in retrospect, I wish that I had harnessed the power of the broader group or advocated for more resources.”

And finally, her work at Goldman Sachs has cemented the important lesson of, “If you want to go fast, go alone; if you want to go far, bring others with you.” Being named managing director was a defining moment as she reflected on the people who had mentored and sponsored her, in addition to junior colleagues from whom she’d learned along the way. “In that moment when I learned I was being named a managing director, it was so clear that everything is due to the effort of a group, all of us pushing things through together by working toward common goals.”

Kerone currently serves as the Risk Division sponsor for Goldman Sachs’ Women’s Career Strategies Initiative (WCSI), a group whose emphasis is on advocating for women who are on the cusp of being promoted to vice president. The purpose is to help women form connections throughout the firm and in their divisions, as well as learn the rules of the road from senior professionals.

“It’s important to me to help younger people get a head start as they begin their careers,” she says.

Taking Time For Herself and Her Family

Last year, Kerone committed to taking at least one short vacation each month to recharge, which she has enjoyed. She also recently took up snowboarding, a big step after a skiing accident early in her 20s.

But most importantly, Kerone savors the time she spends with her husband and her children, ages 11 and 7, gardening with others on their block in Bedford Stuyvesant. They have replanted trees that had been ravaged by storms and brightened the neighborhood with flowers, efforts that paid off after recently being named “The Greenest Block in Brooklyn.”

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Is it a Concrete Ceiling for Women of Color?

Guest contributed by Funmi Ogunlusi

When it comes to improving women’s access to professional opportunities, there is an elephant in the room. It is intersectionality: the appreciation of the various ways in which different aspects of our identity intersect to create different experiences of privilege and discrimination. A white woman fighting to break through an old boys’ club certainly faces an uphill battle but how does it differ for women of color? Jasmine Babers calls this a concrete ceiling – one even more difficult to break through than glass – and arguably this set of circumstances can make it easier to find common ground along racial lines.

Well, as a woman of color I can only tell you about my experiences. One in particular stands out. I was meeting two senior members of a company for a chat about a job I was qualified for, based on my experience as a writer and PR account manager. One of them, through several thinly veiled attempts, had been questioning me about my proficiency in English. It made me feel uneasy but I told myself that it made sense for him to want evidence that I could be a good editor, given the job description. However, he wasn’t asking about attention to detail, or my ability to draft the required documents. He was struggling to understand how I could speak English in the first place.

The questions kept coming, in spite of the fact that the interview was being conducted in English and I had two essay-based degrees from British universities – one of which is a First Class. There they were, still wondering if I could string a sentence together. His colleague then tried a more direct approach and asked me if English is spoken in Nigeria, my home country. Before I could respond, this question seemed to jog the other man’s memory. He exclaimed,

“Oh but of course… It was once part of the Great Empire, wasn’t it? They must speak English there!”

And so, colonialism – not my experience, not my aptitude, not my performance during the interview – immediately became the confirmation that I could do a job I had done in the past. Proximity to whiteness, not my actual lived experience.

Many black women I know have similarly ridiculous stories about blatant, unapologetic and casual racism at work. One friend was told, after complaining about a faulty toilet in her building, that she should be used to foul smells because of where she’s from. Another friend was denied an improved job title which appropriately reflected her role and forced to remain in an “internship”, only for that title to be given to a less qualified and experienced white woman who replaced her. I have too many more foul anecdotes like this to mention, and they all have one thing in common: black women on the receiving end of the perfect storm of sexism and racism.

White women continue to be paid and promoted less, but they wouldn’t have had to answer questions about knowing how to speak, read and write English in an interview. A white woman wouldn’t have had to sit across a casual reference to imperialism as a justification for her eligibility for a role. She wouldn’t have her hair tugged by clients for its “intriguing” and “wild” appearance. She wouldn’t be called “sassy”, unofficially appointed as the spokesperson for all black people and always called upon to comment on rap and/or any famous black person in the news. These are real experiences many women face at work today. Not fifty years ago. Today. Issues like this create an additional layer of obstacles women of color have to surmount in order to progress.

This interplay between race and gender is simply not discussed enough, but things are slowly changing. This issue is a subtle theme in the latest season of the HBO smash hit series Insecure, which has been lauded for its portrayal of the experiences of young black women in Los Angeles, California. Molly – a brilliant lawyer – discovers that she is paid significantly less than her white male counterpart despite comparable achievements. It is quite telling that she then turns to a black male colleague at another firm instead of another woman at her own firm.

Many black women might recognize the subtext here. Perhaps Molly could not turn to another woman of color because there simply weren’t any to turn to. Being “the only one in the room” is not an infrequent experience for black women climbing the career ladder. Perhaps she could not turn to her white female colleagues, either because they wouldn’t understand or because they weren’t doing that much better anyway. Whatever the reason, we as viewers are left to fill in these blanks. In a situation where Molly could have aligned with other women in order to face this problem, she didn’t.

I know too many Mollies, forced to navigate worlds of unfamiliar pop culture references, alienating inside jokes, and sometimes frankly inappropriate behavior, all while accepting that they are not being paid what they are worth. In almost all cases, I see them leaning more on other black women or networks built around ethnicity – rarely do they congregate around gender. Why is that?

I think there is one simple reason.

Failure to address this is a major blind spot in most efforts geared towards women empowerment, and much more needs to be done.

These conversations need to stop happening in silos, but we all have to be willing to listen. We have to recognize that these differences exist, and they persist till this day. Acknowledging this does not downplay the common battles all women face in male-dominated spaces. It simply highlights the fact that women do not all experience these battles in the same way – and some have fewer tools in their arsenal than others. Discussing how to move forward, without appreciating that we’re not all starting from the same point, will get us nowhere.

 

Disclaimer: Opinions and views of Guest Contributors are not necessarily those of theglasshammer.com

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Square Zero: Hidden Habits Females Need For A Successful Career in Tech

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Working In Tech - Space Station

 Guest contributed by Andrea Goulet

Quick question. Let’s say your friend gave you a list of fruit: apples, oranges, bananas, and strawberries. She asks you to bring her the item that’s labeled as number three on the list, which one would you pick?

Bananas? That’s the logical one, right? When we count items in most spoken languages, we list things out starting at one: first, apples. Second, oranges. Third, bananas. Ah! Grab a bunch and off you go. To your surprise though, when you bring her your bright yellow fruit, she looks disappointed. You clearly didn’t bring her what she was expecting. So, where did you go wrong?

Here’s what we didn’t tell you. Like many programming languages, your friend uses what’s called zero-based indexing. That means she starts her counting at zero, not one. So she was expecting you to bring her strawberries. In her world, apples = 0, oranges = 1, bananas = 2, and strawberries = 3. She was operating under a different framework from what you’d learned your entire life. Knowing this unwritten rule would have been incredibly useful, right?

Building a career in technology is much the same way. While there is a tried and true path to success, it’s often quite different than what many of us learned in school.

There are invisible forces at play that are obvious once uncovered. However, if you navigate your career without understanding this hidden framework, you’ll usually come up with the wrong answer, just like in the above situation.

Let’s take a peek at some of these hidden habits that are likely holding you back. It took me YEARS to uncover some of these. Hopefully, by seeing them now, you’ll save yourself a lot of aggravation and frustration.

Stop Calling Yourself “Non-Technical”

“Are you technical or non-technical?” Me? I’m both. And I went on a long journey of soul searching to figure that out. Saying you’re “non-technical” means you have absolutely no clue on how to interact with technology. That’s not really the case, right? Chances are, your technical skills are relative, not binary.

You can also get incredibly technical about a wide range of topics. On a recent podcast, the host was surprised at how much technical knowledge I had about cognitive empathy. What’s a topic where you have a deep understanding? This single language hack was the most profound for me on my journey to developing a career in tech.

Get Comfortable with Discomfort

Speaking of getting stumped, get used to it. It’s impossible to understand everything. The industry is so big and moves so fast that it’s tough to keep up, but that’s the fun part. Learn to enjoy the process and see challenges as a way to stretch the brain and grow. Dr. Carol Dweck, a researcher on the topic, suggests the following:

“The passion for stretching yourself and sticking to it, even (or especially) when it’s not going well, is the hallmark of the growth mindset. This is the mindset that allows people to thrive during some of the most challenging times in their lives.”

The fixed mindset says, “I’m not technical. I’ll never learn this.” Then they shut off their computers and stop trying. A growth mindset says, “Wow! This is such an interesting challenge. How can I find resources to help me?”

Mind the Confidence Gap

A few years ago I was at a luncheon for women in business and learned about a study that found women wouldn’t apply for a job unless they met 100% of the criteria on the description. Yep. That felt about right, I thought. Then I learned that the average man would have applied if they met 60% of the criteria.

Katty Kay and Claire Shipman have tackled this topic at length. “Success, it turns out, correlates just as closely with confidence as it does with competence: underqualified and underprepared men don’t think twice about leaning in. Overqualified and over prepared, too many women still hold back. Women feel confident only when they are perfect. Or practically perfect.”

Knowing that men are taking risks without having all the information has made a huge difference in how I approach my work. I may not know everything about a specific technology right now, but I trust my skills, attitude, and abilities. I know that I can learn whatever I set my mind to. That trust in myself has boosted my confidence and led to some amazing opportunities.

Acknowledge Your Biases

At one of my very first software conferences, I was one of two women in the room out of nearly three hundred attendees. It’s really tough to stand confidently when you feel like you so clearly don’t belong. Luckily, I knew from my marketing days that the brain relies on hacks and shortcuts to make decisions. Learning about these biases has helped me not take things so personally.

That person who assumed I was a recruiter when they first met me? That didn’t have as much to do with me as it did with confirmation bias. That person held the belief that women aren’t technical, so when they were met with a new input, they sought to confirm their existing world-view.

Familiarity with the Dunning-Kruger effect, where people believe “the incompetent are often blessed with an inappropriate confidence, buoyed by something that feels to them like knowledge,” is also helpful. In software, when people would scoff or use lots of jargon to make themselves look smarter, I initially wondered if it was me who wasn’t smart enough and didn’t belong. I stopped asking questions and noticed that I felt intimidated by how “technical” other people were. I stopped trying. Turns out, that ended up being another bias that crept in — imposter syndrome. Being aware of these unintentional posturing techniques makes a huge difference when it comes to committing to the long and difficult path of learning to code.

Andrea Goulet is the CEO & Co-Founder of Corgibytes in Richmond, Virginia. She was named a LinkedIn Top 10 Professional Under 35 in Software.

Disclaimer: Views and opinions of Guest contributors are not necessarily those of theglasshammer.com

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Women in Tech- Just Do It

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By Nicki Gilmour, Executive Coach and Organizational PyschologistNicki Gilmour

We know that there are barriers for women in technology, from hiring and promotional bias to pretty awful cultural issues, making the day to day environment hard going. I could go on and on about the ugly underbelly and about the fact the system is stacked but I am not going to do that because it isn’t going to help you at your desk today.  Firms must fix the systemic elements but in the meantime, and whether you like it or not women have to pioneer and keep going.
But, we can reward the good firms by going to work for them. Give your business and your talent to people who deserve it.
Get out if your firm’s culture is totally toxic. If that seems like not the right choice for you, realise nothing is perfect and that you can find ways to be the change leader or work with the change agents if you can identify them. Easier said than done and this is dependent on three things that you need to look at.
Firstly, your desire to be the person who created the change (history tells us it is rarely at no personal or emotional cost). Dig deep and see if it’s in your personality to do this work. It will involve all sorts of things including smart power, conflict and conflict resolution. I was often the hammer in the the glass hammer and I have learned that there are other ways of tackling problems and the hammer is held for special occasions only as I am all too ready to pick it up and whack a mole (what rhymes with mole?). Look at what is natural for you and then do a 180 and look at what is not naturally within your skill set and understand you will need both for change leadership.
Secondly, on the context of the situation, how change ready is the environment? There are ways to test this and a simple question to a leader will tell you as much as you need to know. A question such as, “How would you explain how we do what we do here to a new person?”  Listen to their response carefully, as it is in their digestion of the ‘how’ and  ‘by whom’ work gets done and what gets rewarded behaviorally that you will know where they are at in their own diversity journey. Ask them, what do they think their vision is for the team?
Thirdly, what systems or policies and procedures are in place to make the culture a good place to work for all humans regardless of your biological status?
There are some amazing women in technology out there – some in big firms and some in firms that they have started. Women who code just announced their winners this past week.
We have held many career events for women in technology  round navigating the terrain. Like any career planning advice,  or in fact coaching advice i can give you, you need to know what you want, understand what is consciously and unconsciously stopping you, then go for it. Be the change you want to see in the world!
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