By Aimee Hansen
“Millennials bring new ideas and expectations to the workplace, as did the generations before them,” states a 2016 Thomson-Reuters report on The Generational Shift in Legal Departments. But, as the story goes, senior lawyers are resisting those changes.
By 2025, Millennials will comprise 75% of the workforce. The real question is not if change will happen, but how it will unfold.
What Do Millennials Want?
“Working round the clock for high pay and status is not what motivates many young lawyers today” states the FT, noting, “the partnership track has ruptured.”
Millennials work preferences are characterized as valuing mentorship (vs bossing) and collaboration (vs hierarchy), wishing to be involved in processes and decision-making, receiving regular feedback, having opportunities for growth, working for a firm that aligns to their values, and desiring work/life flexibility.
According to an article in the National Law Review, managing Millennials “means an almost 180-degree change in the way associates have been managed in the past.”
With Millennials, It’s Not About Precedent
Acknowledging the resistance of those who have paid their dues, “Old Lady Lawyer” Jill Switzer notes “The problem with the philosophy of ‘suck it up, this is the way it’s always been’ is that it doesn’t seem to really work with millennials.”
The Thomson-Reuters report agrees, “…in-house leaders must prepare to oversee junior lawyers who will not accept doing things a certain way simply because that’s what has been done before, whether it’s the billable hour or using a more formal tone in communications.”
So what can senior lawyers do to motivate Millennial associates?
Make Mentorship Your Management Style
The first step is to meet the individual in front of you.
“I think we all ought to be sensitive to the concept that stereotypes don’t always play out in individual people, and individual people are where it’s at,” Co-chair of the American Bar Association Business Law Fellows Committee and King & Spalding partner Dixie Johnson told theglasshammer. “I personally don’t ever start out a relationship thinking okay, you’re a millennial – here’s how I should relate to you. And I don’t think it’s healthy to do that.”
A Deloitte study found that Millennials who intended to stay with their current organization were more than twice as likely to have a mentor (68 percent) than not (32 percent), but only six percent of corporate legal departments have a formal mentoring program.
If yours doesn’t yet, then consider making mentorship your management style.
“I don’t think of ‘inclusive mentorship’ as a new thing that is needed by Millennials in a way that was not needed by prior generations,” says Johnson. “I just think that my job is to be a mentor and I should look for opportunities to help people who work with me. Part of my job as a senior lawyer is to train younger lawyers about what they need to do really well as lawyers…in the middle of all the work we do.”
Motivate with Context
As stated in The National Law Review, Millennials “are not content to receive a directive such as, ‘Research a particular point of law and prepare an annotated brief on the subject.’ Instead, they want to know about the case, why the research is important for the case and how it will be used to benefit the case.”
Millennials wish to learn and grow through the experience of doing the work, as opposed to just get the job done. They are “Generation Why.” The value in whatever they are being asked to contribute needs to be explicitly connected to the whole, both to the overall project and their personal growth.
“I do think young lawyers who enter the profession recognize some of the work is tedious and not as exciting, but you can learn from everything that comes your way,“ Johnson says. “It’s on us, the more senior lawyers, to help people understand what they can learn from projects.”
Make Feedback Work For You, Too
Growing up in a digital world where everything is “available at their fingertips”, Millennials desire (and expect) regular feedback (not just performance reviews). Iterative feedback may take more time, but it may also deliver more fluid performance improvements while building more mutual respect.
“I do think that we are more successful as managers when we give more feedback.” says Johnson. “I find that when I label a conversation with ‘I want to give you some feedback’ (eg. on relating to clients, on speech patterns) young lawyers are hungry to hear it, and they do take it well. They want to go back and think about it.”
Lead the One You’re With
Thomson-Reuters found that other generations see Millennials more so as “hoppers” and “disloyal” than they see themselves. 76% of Gen X and Boomers thought Millennials would stay at their current job for less than 5 years. 38% of Millennials intended to leave while 47% intended to stay. Still, a longitudinal study found a third of lawyers had changed jobs once only three years out of law school.
Resisting the assertion that job-jumping is a new trend among associate lawyers, Johnson states, “It’s important for more senior lawyers to recognize that part of the cost structure that is built into their firm is that they will spend a lot of time training somebody who then will go off to do other things. And I think that’s a good thing, frankly. At one point I counted up 40 people (that I helped train) that were in different spots in the federal government, and that makes me feel great.”
“I think approaching a work relationship with the reality that you’re both there by choice, and it may not last forever, is just the reality of it,” says Johnson. ”And it has been for a long time.”
Embrace Change
Millennials bring technology into firms, as a lens through which they’ve always interacted with the world. They are also more globally minded and gender equal in their outlook, and will offer that to the workplace.
“That’s a really exciting thing about having young people who have really not known anything other than technology joining our teams,” says Johnson. ”They will bring to the teams technical advances and a way of thinking about projects that can helps us do a better job.”
This will also change how lawyers work, in a way that brings greater gender equality. The number of legal employees working remotely is rising. The FT points out that the firm Mr. Beedle now employs lawyers on a “consultancy basis”, meaning “full control over hours they work in exchange for a fluctuating salary.”
In order to stay, Millennials need to feel as though they are being valued and developed as leaders, and making a difference at work. In order for managers to motivate the next generation of lawyers, it will require a perspective less bent on precedent and more open to possibility.
Voice of Experience: Tiffany Wirth, Vice President of Healthcare Marketing, WEX
People, Voices of ExperienceSuccess is not defined by the company you work for; rather, it is defined by your own personality and the opportunities you create for your team and
yourself, says WEX Health’s Vice President of Healthcare Marketing Tiffany Wirth.
Wirth has a pinnacle of expertise, with a career that started at the “biggest of the big” companies and then pivoted to a startup.
Directly after earning her bachelor’s degree in marketing, Wirth landed a job at Microsoft. “Gaining a background in a several areas at one of the best brands in the world had a huge impact on my career,” she says. Among the areas where she learned the ropes were product marketing, marketing strategy; and segmenting strategy.
Twelve years later, a core team Wirth worked with at Microsoft replicated the brand’s best practices on a much smaller level at a startup. They successfully built a healthcare benefits technology platform organization, which was acquired by WEX, Inc. two years ago. Although there were challenges in moving from one of the world’s biggest companies to a startup, Wirth found that a key component was a focus on partnerships and relationships. “It’s one thing throughout my career path that has been a constant — helping partners grow their businesses and helping teammates grow in their skillsets.”
And that is the professional achievement she is most proud of to date – building a brand and marketing team from the ground up. “I’ve built my team by focusing on each person’s unique skill set and how collectively we can deliver tremendous results and a positive ROI to WEX Health and our partners,” she says.
A Network as One of the Building Blocks to Career Success
When Wirth first started her career, she assumed that working hard was what mattered most, and that if she succeeded, she would stay in one place for her entire career, if she chose. While that can be true for some, Wirth soon found out there were so many other measures of success.
Wirth says that having a mentor has played a significant role in her successful career. “A mentor can help you so much with challenging yourself to do and achieve more for yourself, your team, and ultimately, your company.”
Additionally, she says, a mentor can help you believe in yourself and build your confidence to excel at stretch assignments and ask for promotions and/or pay increases.
Over the years, Wirth has found the significance of an adage to ring true: Don’t burn your bridges.
As a woman, she says that it’s natural to gravitate to other successful women, such as Sheryl Sandberg and Arianna Huffington, two people she follows closely. She has found their views to be crucial in understanding work/life balance, particularly Huffington’s current focus on the importance of adequate sleep.
Always Achieving Lessons in Leadership
As a leader, Wirth says it’s important to make sure you’re doing the share of work that makes you credible to the team, and that you are quick to share what went well and what can be improved on. However, she feels strongly that it’s not a female leader’s job to be “likeable. but that being authentic and worthy of respect are more important. She points out that one of the most critical components of leadership is “EQ,” or emotional intelligence, part of which is to hire people smarter than you, and then give them due credit and celebrat their successes.
Wirth is actively working on a mentorship program at WEX Health and finds that one of the biggest learnings has been to encourage mentors and mentees to do things that make them feel uncomfortable: Although that is naturally hard, showing initiative – even if you’re not 100% prepared – will earn opportunities that could otherwise pass a person by if she didn’t jump in. A huge component is listening, which can be much more valuable than always talking.
She appreciates being part of an organization that invests in her leadership: At WEX Health, she finds that the company invests time and resources to ensure directors are successful in their positions, including offering sessions with an executive coach to build their leadership skills for current and future roles.
Personal Time Means Family Time and Focusing on Health
Married with two children, ages 5 and 11, Wirth finds that the most important thing to do in her free time is to spend it with her family, be present and create memories. When she is not spending time with her family, Wirth enjoys running and working out for both mental and physical health, and she focuses on always getting ample sleep.
Motivating Millennial Lawyers: More About Possibility Than Precedent
Career AdviceBy Aimee Hansen
Image via Shutterstock
“Millennials bring new ideas and expectations to the workplace, as did the generations before them,” states a 2016 Thomson-Reuters report on The Generational Shift in Legal Departments. But, as the story goes, senior lawyers are resisting those changes.
By 2025, Millennials will comprise 75% of the workforce. The real question is not if change will happen, but how it will unfold.
What Do Millennials Want?
Millennials work preferences are characterized as valuing mentorship (vs bossing) and collaboration (vs hierarchy), wishing to be involved in processes and decision-making, receiving regular feedback, having opportunities for growth, working for a firm that aligns to their values, and desiring work/life flexibility.
According to an article in the National Law Review, managing Millennials “means an almost 180-degree change in the way associates have been managed in the past.”
With Millennials, It’s Not About Precedent
Acknowledging the resistance of those who have paid their dues, “Old Lady Lawyer” Jill Switzer notes “The problem with the philosophy of ‘suck it up, this is the way it’s always been’ is that it doesn’t seem to really work with millennials.”
The Thomson-Reuters report agrees, “…in-house leaders must prepare to oversee junior lawyers who will not accept doing things a certain way simply because that’s what has been done before, whether it’s the billable hour or using a more formal tone in communications.”
So what can senior lawyers do to motivate Millennial associates?
Make Mentorship Your Management Style
The first step is to meet the individual in front of you.
“I think we all ought to be sensitive to the concept that stereotypes don’t always play out in individual people, and individual people are where it’s at,” Co-chair of the American Bar Association Business Law Fellows Committee and King & Spalding partner Dixie Johnson told theglasshammer. “I personally don’t ever start out a relationship thinking okay, you’re a millennial – here’s how I should relate to you. And I don’t think it’s healthy to do that.”
A Deloitte study found that Millennials who intended to stay with their current organization were more than twice as likely to have a mentor (68 percent) than not (32 percent), but only six percent of corporate legal departments have a formal mentoring program.
If yours doesn’t yet, then consider making mentorship your management style.
“I don’t think of ‘inclusive mentorship’ as a new thing that is needed by Millennials in a way that was not needed by prior generations,” says Johnson. “I just think that my job is to be a mentor and I should look for opportunities to help people who work with me. Part of my job as a senior lawyer is to train younger lawyers about what they need to do really well as lawyers…in the middle of all the work we do.”
Motivate with Context
As stated in The National Law Review, Millennials “are not content to receive a directive such as, ‘Research a particular point of law and prepare an annotated brief on the subject.’ Instead, they want to know about the case, why the research is important for the case and how it will be used to benefit the case.”
Millennials wish to learn and grow through the experience of doing the work, as opposed to just get the job done. They are “Generation Why.” The value in whatever they are being asked to contribute needs to be explicitly connected to the whole, both to the overall project and their personal growth.
Make Feedback Work For You, Too
Growing up in a digital world where everything is “available at their fingertips”, Millennials desire (and expect) regular feedback (not just performance reviews). Iterative feedback may take more time, but it may also deliver more fluid performance improvements while building more mutual respect.
“I do think that we are more successful as managers when we give more feedback.” says Johnson. “I find that when I label a conversation with ‘I want to give you some feedback’ (eg. on relating to clients, on speech patterns) young lawyers are hungry to hear it, and they do take it well. They want to go back and think about it.”
Lead the One You’re With
Thomson-Reuters found that other generations see Millennials more so as “hoppers” and “disloyal” than they see themselves. 76% of Gen X and Boomers thought Millennials would stay at their current job for less than 5 years. 38% of Millennials intended to leave while 47% intended to stay. Still, a longitudinal study found a third of lawyers had changed jobs once only three years out of law school.
Resisting the assertion that job-jumping is a new trend among associate lawyers, Johnson states, “It’s important for more senior lawyers to recognize that part of the cost structure that is built into their firm is that they will spend a lot of time training somebody who then will go off to do other things. And I think that’s a good thing, frankly. At one point I counted up 40 people (that I helped train) that were in different spots in the federal government, and that makes me feel great.”
“I think approaching a work relationship with the reality that you’re both there by choice, and it may not last forever, is just the reality of it,” says Johnson. ”And it has been for a long time.”
Embrace Change
Millennials bring technology into firms, as a lens through which they’ve always interacted with the world. They are also more globally minded and gender equal in their outlook, and will offer that to the workplace.
“That’s a really exciting thing about having young people who have really not known anything other than technology joining our teams,” says Johnson. ”They will bring to the teams technical advances and a way of thinking about projects that can helps us do a better job.”
This will also change how lawyers work, in a way that brings greater gender equality. The number of legal employees working remotely is rising. The FT points out that the firm Mr. Beedle now employs lawyers on a “consultancy basis”, meaning “full control over hours they work in exchange for a fluctuating salary.”
In order to stay, Millennials need to feel as though they are being valued and developed as leaders, and making a difference at work. In order for managers to motivate the next generation of lawyers, it will require a perspective less bent on precedent and more open to possibility.
Are After-Work Drinks Sexist in the UK?
Career Advice, Guest Contribution, Office PoliticsGuest Contributed by Beth Leslie
Jeremy Corbyn, the leader of the UK’s Labour Party, recently sparked outrage by labelling after-work socialising as sexist because it “benefits men who don’t feel the need to be at home looking after their children and it discriminates against women who will want to, obviously, look after the children”.
In one fell swoop, he offended everyone. Single women railed at the anachronistic association of all women with housewifery. Mothers were furious by the stereotyped assumption that they are automatically the primary caregivers. Men were offended by the outdated notion that they don’t want to spend time with their children. The British as a nation became hysterical that this left-winged bearded fellow might be trying to take their Thursday night drink away from them.
But then someone pointed out that Carolyn Fairbairn, the first female head of the Confederation of British Industry, had made similar criticisms about after-work culture. Female journalists at the New Yorker and The Independent voiced their agreement too. So is Corbyn actually correct? Are after-work events discriminatory against women?
The Activity vs. The Hour
The debate is particularly problematic because “after-work socialising” means different things to different people. It could be a formal networking event. It could be a casual cocktail with colleagues. Or, as the corporate packages offered by 41% of lap-dancing clubs attest; it could be a client meeting in a strip club.
So while Corbyn’s comments focused on the discriminatory timing of after-work events, many feminist campaigners are more concerned with the nature of these activities. Donald Trump’s recently leaked boasts about sexually harassing women indicates how heartbreakingly common workplace harassment is. 52% of women in the UK say they’ve experienced it, and such harassment is often exacerbated by after-work socialising because it usually involves alcohol and a blurring of the lines between professional and personal life. This problem can exist even within formal networking events, where women complain that many men respond to their networking with flirtation, and where even companies as prominent as Microsoft are curating an environment of objectification by hiring ‘booth babes’.
At the same time, opting out of after-work sessions comes at a cost. Clients are discovered and deals are made at networking events. Bosses give praise and promotions to subordinates they’ve become pally with after a few pints. And co-workers who socialise together build bonds and friendships that drop-outs can feel excluded from.
So yes, there are many aspects of after-work socialising that can be seen as inherently sexist. But the answer cannot be banning all after-work events. Not only would it be impossible to enforce, it is worryingly illiberal. Women-only networking events, meanwhile, seem to partition off the problem more than they solve it.
Businesses Need to Lead a Culture Change
Eliminating sexism from business requires the elevation of the idea that it is not only immoral, but unprofitable. The spate of lawsuits by female professionals who consider a corporate insistence on conducting business in strip clubs detrimental to their career prospects should be encouraged. Companies which engage in sexist practices should be named and shamed on regular and social media. Managers should take complaints of sexual harassment seriously and punish offenders severely. Individuals should be encouraged to speak up when they witness or experience misogyny in the workplace.
It may seem quixotic at first glance, but each hardened opinion contributes to the snowball of social change. After all, most businesses can’t afford to turn off female talent, and even fewer can afford to lose female customers.
The After-Hours Element
Corbyn and his backers, however, appeared to suggest that even the most progressive event is discriminatory if it takes place outside of work hours because of childcare commitments. The problem with this is that it muddles two distinct concepts. Holding an event after hours is not anti-women but anti-parent. However, because of gender stereotypes, working mothers do end up carrying more of the burden than working fathers.
It is the second concept which society and businesses have a duty to eliminate. For companies, this should take the form of implementing and encouraging parental equality policies, such as shared parental leave. Similarly, more work should be done on a social level to equalise the attitudes towards working fathers and working mothers.
Yet turning the plight of an ambitious parent who also wants to spend the evening with their kids into a feminist issue is a mistake, because it further entrenches gender stereotypes about women as homemakers. Ultimately, having children is a choice in the way your gender is not, and exclusion from after-work events because you choose to spend time with your children, however frustrating, is morally distinct from being excluded from after-work events because of sexist perceptions or actions against you.
Advocating for a workplace that is more parent-friendly is a worthy fight and it should not be a sexist one.
Beth Leslie writes graduate careers advice for Inspiring Interns, a recruitment agency which specialises in matching candidates to their dream internship. Check out their graduate jobs London listings for roles, or if you’re looking to hire an intern, have a look at their innovative Video CVs.
Disclaimer: The opinions and views of Guest contributors are not necessarily those of theglasshammer
What Are Your Mental Models and How Do They Hold You Back?
Career Advice, Career Tip of the Week!By Nicki Gilmour, Executive Coach and Organizational Psychologist
Image via Shutterstock
When I am coaching within the first 30 mins, I hear mental models and worldviews come out of every client’s mouth. I also hear it in friends and social situations whether I try to or not. Mental models are the paradigms that we walk around with, the inner voice and inner theater that plays inside our heads and is the biggest enhancer or constrainer of our careers and of our lives. This inner voice is built by what we were told as kids by our families, our observations on what we could and could not get away, as well as what society messages us overtly and implicitly.
The point is, if you can understand the phrases that control you and can override the “way it is” and ask yourself why do i believe x, y, z is how it has to be, then great progress can be made.
A typical example of a common mental models that might be standing in your way is:
– Trust is earned. This is obviously a righteous sentence that many of us agree with but at what point are you not trusting your bosses and team and how is that preventing optimal results?
So, how do you begin to change this? It is engrained and hard to shift but entirely possible to do so. Surface it with a coach, understand how it serves you and how it perhaps gets in your way. Does it get you to where you want to go?
I also personally have found reading articles that i agree and entirely disagree with, are entirely helpful to me personally on issues that I know I am drawn to and that are my kryptonite. By opening my mind to seeing things from other people’s angles and viewpoints, I can add to my knowledge on the subject (I tend to go for academic rather than opinion based reading) but also ensure that i am not in an echo chamber of people who believe the same thing as I do.
It is a journey and it does take time, but investigating and exploring what you think and why you think it, can be not only career enhancing as you become a better leader but if you allow it, it can be a gift.
To explore how your mental models are holding you back, book an exploratory coaching call with Nicki at 646 6882318
Voice of Experience: Suzzanne Yao, Managing Director and Associate General Counsel, Goldman Sachs
Asian American Heritage Month, Voices of ExperienceMany people talk about the importance of being a good mentor, but Goldman Sachs’ Suzzanne Yao knows you also have to be a good mentee: “You have to be open to sharing your goals, asking for honest feedback and listening to those who are providing constructive advice. Tough love is just as important as words of encouragement, and you have to be willing to give consideration to the advice of those who have gone through what you’re going through,” she says.
Yao understands that some junior employees may shy away from soliciting such constructive criticism because it’s natural to seek out a pat on the back. “In some ways you’re afraid of hearing what you can improve on, but looking back I can see that the progress I’ve made has been the result of candid feedback from my mentors.”
She recommends that young women consider a mentor who will give “homework assignments” and help them proactively identify career goals.
An Exciting Time To Be An ERISA Lawyer
Yao started her career in private practice at a major New York law firm, specializing in employee benefits and ERISA (Employee Retirement Income Security Act of 1974), a federal statute that covers every aspect of employee benefits, from how to set up an employee benefit plan to how to manage its assets and pay out benefits.
After four years, she jumped at the opportunity to work at Goldman Sachs after having positive experiences advising the firm while working as a law firm associate. As an ERISA attorney at Goldman, Yao works with both internal and external stakeholders, whether it’s supporting the team that covers Goldman’s benefit plans, helping clients understand the services Goldman provides to benefit plan investors or advising on the rules that govern plan investments.
Currently, she’s focused on new regulatory initiatives in the space, including potentially evolving fiduciary rules that could fundamentally change the way products and services are provided to retirement savers.
“It’s an exciting time to be an ERISA lawyer,” she says, highlighting the interesting intersection of law and politics. “It’s rare to have the opportunity to work on something so large and important to the industry and to people saving for retirement. While most people agree on the importance of Americans saving and investing for retirement, the conversations about the fiduciary rules show how incredibly complex it is to facilitate that goal, particularly since decisions about these rules could affect people across the spectrum.”
Don’t Be Your Own Worst Critic
Yao cautions against women feeling they have to fundamentally change aspects of their personality to succeed in their careers. She says that while being self-aware is important and making adjustments to your presentation or communication styles can be very helpful, fundamentally altering your personality isn’t necessary or healthy.
She also advises against judging yourself too harshly. “We tend to be our own worst critic and sometimes we need to give ourselves a break,” she says. “Realize that even if you didn’t have a week that went as you would have hoped, the following week is your opportunity to start with a clean slate.”
Serving As a Mentor To Others
Yao has been involved in the Firmwide Asian Professionals Network for several years and currently serves as co-head of the Network. She has also served on the mentoring sub-committee of the firm’s Legal, Compliance, Internal Audit and Executive Office Women’s Network and says she met many of her mentors through these affinity networks.
“There is a good deal of overlap on issues women and Asian professionals face in terms of countering stereotypes and maximizing leadership opportunities. Over the years I’ve been able to take my experiences in the Women’s Network and apply them to the Asian Professionals Network, and vice versa,” she says.
Yao also enjoys spending time with those just beginning their career as part of the Sponsors for Educational Opportunity program, which helps underrepresented students maximize opportunities for career success. As an alumna of the program, she considers it a way to pay it forward after interning at a law firm through the program prior to starting law school. Reflecting upon the experience, Yao recognizes that this initial exposure to the legal world gave her a huge boost of confidence as she entered law school, and connected her with mentors who supported her while she was earning her law degree. “Advising junior people involved in the program gives me energy and serves as a reminder of what it’s like to be just starting out.”
Yao notes that it takes resilience and focus to achieve a long-term career and continue to feel engaged and curious after hitting the 10-year mark with the same company. “Looking back at my career thus far is rewarding because I can see all the great relationships I made along the way and how much I’ve learned and matured as a professional. People invest in you and it’s important to recognize that and do the same for others.”
Voice of Experience: Jitania Kandhari, Head of Global Macroeconomic Research and Portfolio Manager, Morgan Stanley
Voices of ExperienceIn the male-dominated world of finance, Morgan Stanley’s Jitania Kandhari finds that women’s voices can often get muffled in their constant quest for perfection. “Women tend to speak up less as they search for the ideal solution or just the right words, but it’s something they can and should overcome,” she says. “It’s important to have faith in yourself — just join the conversation and own what you say.” An encouraging environment with the right leadership and colleagues can be a big factor in the success of women, and in her case, she says that she is very fortunate to be part of a wonderful team at Morgan Stanley that has a strong culture of open expression.
Carving Out a Valuable Role
Jitania hit the ground running, beginning her career as a trainee at the peak of the Asian crisis at Morgan Stanley in India. With jobs in short supply, she moved to another firm that covered Indian equities and subsequently became a private wealth manager for ultra-high net worth individuals, where the seed of her interest in global economics — the linkages between global macro and asset classes — was sown. She worked at another firm in the United States, consulting on Latin American markets, and then came back to Morgan Stanley where the person with whom she’d done her first-year rotation was head of a team.
She joined them as the sole analyst in an emerging market fund and has since carved out a role and built a team doing what she is most passionate about — heading global macro-economic research and recently co-managing the Breakout Nations fund, which is a highly active country allocation fund that invests in both emerging and frontier markets
“Being named as head of macro-economic research for the team was a huge lift in my career and has produced a steep learning curve, which I love,” she says. “I have learned more than I have ever learned in any role in my career.” For her, one of the most important lessons has been the value of good leadership which goes hand-in-hand with building a high-quality team, along with the more strategic functions of her position.
While active management versus passive management is currently getting a lot of attention, Jitania is confident that active management will reassert its importance. “In my group, we pay a lot of attention to country allocation, as well as stock allocation,” she says, adding that their philosophy is that in the developing world, getting the country call right matters as much as the stocks. “We first identify the best countries and then the portfolio managers buy stocks to reflect that country view,” she explains.
While she has a mentor, Jitania wishes she had had the benefit of one from the start of her career, having seen the valuable role it has played in shaping her career and helping her identify strengths and weaknesses. She also advises women to keep an eye out for a sponsor, noting that women are adept at working horizontally but shouldn’t overlook the need for someone higher up to be guiding and watching out for them.
Advice That Resonates
Jitania has three pieces of advice that ring true at any career stage.
The first is to be a voracious reader, which she says will help you connect the dots in your investment career and better understand the world as one macro environment.
Second, she advises others further along in their career to keep reinventing themselves, as the only constant is change.
And finally she says, “I tell my kids to work harder than anyone else around you, and the rest will follow.”
Through internal workshops and networking, she continues seeking advice on her own career, including a recent series on communication training, which has further bolstered her interactions with clients and peers, as well as her own team.
Threading Her Global Interests To All Areas of her Life
Complementing her work with global and emerging markets at Morgan Stanley, Jitania extends that focus throughout the other facets of her life. In her spare time, she enjoys Indian classical singing and dancing, activities she has pursued since she was a child.
Her husband is on the board of the Afya Foundation, a medical supply recovery organization that collects supplies that would otherwise be wasted in the U.S., and ships them to less-developed countries that are experiencing calamities. She would like to take her children, ages 7 and 5, to their warehouse to participate, as a way to bridge her work and philanthropic interests. “I want to make a difference and extend my knowledge and reach to these countries and help a bigger cause,” she says.
And the thread continues in her travel with her family, whom she takes to one emerging market each year. They started with India and will visit Egypt next. She is gratified that her kids have inherited her interest in thinking globally. Recently her daughter’s class completed a New York neighborhood study, and Jitania was delighted that her daughter selected Greenpoint specifically because it was a Polish neighborhood, where her daughter knew she invested and visited.
“My goal is to give them those experiences that I live and breathe,” she says.
Does Hollywood’s failure to pass the Bechdel test have a negative effect on the workplace?
Career Advice, Guest ContributionWhen critiquing the feminist credentials of a film, a good place to start is the Bechdel Test. To pass, a movie must fulfil three simple criteria: It has two named female characters, who talk to each other about something other than a man. Just under half of all films fail.
For comparison, when IMD compiled a list of films that botched the “Reverse-Bechdel Test” they managed to think of four.
Of course, blatant sexism in any aspect of life is distressing in and of itself. But media is influential. How much of an impact does a lack of female investment bankers, superheroes and whip-wielding archaeologists have on the career aspirations of real-life women?
Movies Influence Us
Movies matter. Study after study shows how the film industry can shape and influence politics, constructions of cultural identity and social change. How on-screen women are portrayed, therefore, affects real-life ideas about real-life women.
The Bechdel Test highlights the industry’s shortcomings in this regard: on-screen, women appear half as much as men and speak significantly less than them. They are rarely the lead or even co-lead, and they are over-sexualised and disproportionately young.
Over and over again, therefore, we watch men being dominant and women being marginalised. The idea becomes cemented in our mind, so that when we actually experience men disproportionately directing discussions or taking on positions of responsibility we accept it the norm.
We learn to associate masculinity with leadership and women with “sexy lamps”. When it comes to hiring and promotion decisions, we are already primed to see men as influencers, winners and go-getters. We want our high-fliers to be heroes, so we compare candidates against our established notions of what a hero looks like.
We see quintessential ‘good guys’ – the James Bonds, the Tony Starks – repeatedly sexualise the women they work with and think that such behaviour is acceptable. We search for examples of heroines who are over thirty-five or intellectually superior and, finding none, disparage experience and intellect as valid indicators of a women’s worth.
Women Don’t Work in Films
Work and the workplace is often represented in films, and it is usually depicted as an unrealistically masculine space. Male characters are notably more likely to have an identifiable job than female characters. They are also substantially more likely to occupy senior roles – women make up just 3% of fictional C-Suite executives. Of the 129 influential family films identified by the above study, not one showed a female character at the top of the financial, legal, journalism or political sector. (In contrast, there were 45 depictions of powerful male politicians alone.)
Gender stereotypes are endemic in film. In the hospital wards of Hollywood, 89% of nurses are women but only 10% of doctors are. The number of female engineers, soldiers, and officials is so low as to almost be negligible. The suggestion is therefore that women aren’t workers, and they certainly aren’t successful workers. By associating career progression so strongly with men, the movie industry depicts working itself is a “masculine” trait. Considering we learn about the world through media, this is disturbing.
Of course, women are underrepresented in senior positions and masculine professions, but not to the extent they are on-screen. This suggests that Hollywood is not so much reflecting reality as reflecting a conception of reality where different genders conform to markedly different life paths. By exaggerating existing stereotypes, it amplifies the pressure to conform to said stereotypes.
We Are Limited by Our Expectations
We grow up watching TV, and it influences our dreams and ambitions. Little girls seem particularly susceptible to emulating the actresses they see on screen – one study found that admiring a star whose characters’ smoke vastly increases the risk of becoming a smoker. Such admiration is particularly problematic if many of the characters we identify with are deficient in ambition and career success.
We cannot be what we cannot see, and the lack of professional representations of women, particularly in the boardroom or STEM industries, makes it harder for young women to conceptualise themselves as such figures. Movies show girls a version of happiness which involves playing the sidekick of a successful man, so women who want to be happy learn to copy this formula. Movies show young girls visions of themselves as pretty PAs or charming caregivers, and suggest that this is what women should be.
There is a solution: put more women in the film industry. When women create films, they invariably pass the Bechdel Test (and other measures of gender equality) with flying colours. Unfortunately, sexism has worked its wrecking hand here too: just 7% of directors, 20% of writers and 23% of producers are women.
Beth Leslie writes graduate careers advice for Inspiring Interns, a recruitment agency which specialises in matching candidates to their dream internship. Check out their graduate jobs London listings for roles, or if you’re looking to hire an intern, have a look at their innovative Video CVs.
Disclaimer: The opinions and views of Guest contributors are not necessarily those of theglasshammer.com
Being a Role Model Isn’t Enough, Stop Being Sexist!
Career Advice, Career Tip of the Week!My consistent discovery in my ten years of this work is that women are often serious perpetrators when it comes to sexism against women, albeit quite unconsciously by buying into stereotypes and deferring all authority to any male on most subjects.
Bell Hooks says it best in her excerpt of a book called The Will to Change about why the system of patriarchy is an ugly one that if reinforced by whoever, we will never make progress.
She makes the point which escapes most people which is until we stop denying that we live in an underlying system that stacks the cards against gentle boys in favor of endorsing a tougher, rougher version which as its worst is ‘toxic masculinity’ then we can do whatever we want, but it will be a lose/lose for all concerned.
So what are 3 things you can do today to walk the talk of “Being the change that you want to see in the world?”
What are 3 things that you have to stop doing?
Not everyone has the same appetite to be a change agent and that’s ok. But, please know that if you are colluding then you are part of the problem. Something to think about today!
Voice of Experience: Shaiza Rizavi, Partner, Gilder, Gagnon, Howe, & Co.
Voices of Experience“If you’re open and don’t construct borders and boundaries between different parts of your life, you can discover learning everywhere,” says Shaiza Rizavi, partner at Gilder, Gagnon, Howe, & Co. This philosophy allows Rizavi to blend the different aspects of her life.
Early in her career, Rizavi worked as an investigator in the public defender service and as a legal assistant before moving to Thailand where she worked on child development projects. Upon her return, she entered Columbia Business School where her life took a new trajectory thanks to her securities analysis professor. As part of the class, students researched a stock to pitch to Wall Street professionals who would come to Columbia’s campus and grill the students on the particulars. Rizavi met the founder of Gilder, Gagnon, Howe, & Co. during the class and directly after graduation joined the firm, where she has worked for over two decades.
Identify a Firm’s Culture to Find a Great Fit
She appreciates that the firm centers on giving small investors who possess long-term patience and fortitude the opportunity to create wealth. The firm’s founder had been working in the institutional investment business when he realized that working professionals, such as teachers, doctors and lawyers, would benefit from actively managed accounts in order to compound their capital. The firm focuses on high-growth opportunities rather than capital conservation. Rizavi uses the research skills developed at business school and through her early work experiences to identify companies engaged in transformational change to help investors reap the potential benefits of high-risk, high-return opportunities.
When interviewing with Gilder, Gagnon, Howe & Co., Rizavi was struck by the stories she heard that articulated the firm’s legends and values. She was particularly drawn to the firm’s orientation toward serving and partnering with clients, as well as its commitment to taking risk based on well-researched, well-thought out ideas. The firm is interested in human creativity and innovation and invests in companies looking to change people’s lives while building capital – an approach Rizavi finds as appealing today as she did over twenty years ago. The legends of achievement within the firm also convinced Rizavi of its uniqueness, especially the story of one woman who began as a typist and rose to become a portfolio manager based on her excellent ideas. “I could tell that this firm judged people on merit, allowing anyone to rise if they deserve it,” she says.
Rizavi advises women to take the time to reflect and look for a role where they can shine. “See how people march through their daily lives within the places you are most attracted to and make sure that that march coincides with values you respect,” she says, adding that analysis must be part of the job search process.
“You might not think you have the luxury of considering all these components because you need to take what is offered, but it will serve you better to take your time and be sure about your potential opportunity.”
She says that it is vital to trust instincts and listen to see if it is a place you want to be, not just for the next year or two but for the long term. “You may not want to stay in one place forever, but it is nice to know there is alignment and therefore staying for the long term is an option,” she points out.
Incorporating Life Holistically
Over the years, Rizavi has learned that it is a myth to believe there is a perfect balance between all aspects of your life.
“You have to give yourself permission to be the best you can be in a certain moment,” she says. “There are phases and seasons where you have the opportunity to focus on different priorities. You may rise in certain areas but you cannot expect all aspects to rise at the same time.”
Rizavi says she has served and learned from many incredible leaders. Chief among them arethe founding members of her firm and the individuals who steward the organizations she respects most including Columbia Business School’s Tamer Center for Social Enterprise, the American Museum of Natural History, Acumen, the Gilder Lehrman Institute and The Calhoun School.
Rizavi now hopes to prolong the benefits of mentoring and apprenticeship by working with entrepreneurs and students at Columbia Business School and other places to share the skills and lessons learned.
She recently returned from Acumen’s global gathering in Kenya where she met 400 of Acumen’s entrepreneurs, fellows and partners from 28 countries and six continents, and learned about initiatives as wide ranging as advancing agricultural practices for small holder farmers to lighting previously unlit regions of the world with solar power. “In working with these entrepreneurs, I gained knowledge of trends, technologies and emerging products and services around the world that I can bring back to my life in New York City,” she says.
Voice of Experience: Marwa Elborai, Partner in the Capital Markets Group, London, Shearman & Sterling
Voices of Experience“Be confident in your own skills and experience and don’t be shy about speaking up,” Shearman & Sterling’s Marwa Elborai advises.
She notes that it’s a skill that comes with experience and adds that to advance your career it’s important not to be intimidated, but rather to share your views on a matter in order to become the advisor that a client wants to turn to.
Proud of Her Tenure at Shearman
Elborai is what they call a “lifer,” having started as a summer associate at Shearman and progressed up the ladder to become partner in January 2016 – an achievement she regards as a “pinnacle moment,” given her tenure with the firm.
She began her career in New York in the capital markets practice and moved to the London office in 2011, where she took on a more specialized role in high yield debt and restructuring.
Elborai appreciated the challenge of adapting to something new and expanding her practice to become more involved with complex restructuring, working closely with clients who were doing capital market work for the first time as well as various internal teams, including finance.
Given that Shearman is one of the leading high yield practices in London, she is proud of being part of a team that’s highly regarded in the industry and has touch points on most of the deals in the market. To that end, Elborai says it’s vital to stay ahead of the latest developments in covenants as it allows her to offer clients the benefit of the most recent thinking and up-to-date best practices.
Mentors Can Help Ease the Path
In this demanding career, Elborai says that those who succeed definitely make investments with their time, but it’s not specific to women. However, in a field still heavily dominated by men, it can be more challenging for women to stay true to the path because they don’t have as many mentors who have previously reached the top goal of partner.
She says that while it’s still common for women to walk into a room and find themselves in the minority, that dynamic is changing with time.
“If you can identify someone you can look up to as a female that’s helpful, but don’t limit yourself to female mentors,” she notes.
One way that mentors helped Elborai along the way was in seeing the big picture: As a young lawyer, she finds you tend to be detail-oriented and don’t always take a step back. “You have to realize that your role is not just to pore over documents, but to facilitate an objective and reach a conclusion to achieve a common goal,” she says. “Working closely with mentors helped me develop the skills to look at and focus on the overall transaction and the main material issues.”
Active in Shearman’s WISER (Women’s Initiative for Success, Excellence and Retention) program, she has appreciated the opportunities to mentor female associates, as well as acting as a mentor in a robust cross-mentorship program with a client company.
Finding Balance to Perform Better
Given the demands of the job, Elborai notes that it’s vital to carve out time for yourself to be with friends and family, and find a diversion that appeals to you. For Elborai, a recent passion has become horseback riding, “It’s a peaceful way to enjoy the outdoors, untethered from email,” she says.