December 12, 2022 12:00 AM

Graphic: Women’s representation still lagging

Many money management companies have launched formal training and development programs specifically designed to prepare women and minorities for management roles, according to Pensions & Investments’ 11th annual Best Places to Work in Money Management survey. However, most firms surveyed continue to have far fewer than 50% of women at various management levels.

Practices vary: Most firms surveyed had formal programs in place to attract and retain individuals with various ethnic and cultural backgrounds. Among other categories, such as disabled workers, older workers and military veterans, fewer than 50% of firms had such programs.

Percentage of managers with formal recruitment/
retention programs, by worker category

Underrepresented: More than 100 money management firms reported having fewer than 50% of their U.S. employees identifying as women, compared with 16 companies with half or more women. Most firms had between 31% and 44% female workforce representation.

Number of companies by female workforce concentration

Training lags: Fifty-eight firms had specific training and development designed to prepare women and minorities for senior management roles. The specific programs varied widely, however. Forty-five companies reported having no such programs.

Companies with senior management training and development programs

Lonely at the top: As for executive management (generally C-suite), 16 out of 96 firms reporting had no women in those roles. Forty-nine companies had less than 25% filled by women.

Number of companies by female executive concentration