Career advancements often don’t come easily for women, what with facing gender discrimination on the job, struggling with pay inequality, and even dealing with sexual harrassment. If these obstacles were not enough, several female professionals also must confront the reality of the glass ceiling, the notorious barrier to achievement that often holds women back from reaching executive roles in corporations. Still, even for those high-performers that are able to successfully break the glass ceiling and take on top roles, far too many competent women are faced with yet another massive career challenge: the tricky paradox of the glass cliff.Continue reading
Finance has always been a male-dominated profession, especially when it comes to positions of power. Women in finance face multiple hurdles on their way to the top. They are often underestimated and expected to work harder than male counterparts to prove their worth. Additionally, women are often held to different standard and even simply overlooked when it comes to rising up in a work environment. These facts are supported by statistics, which show that even though women are actually 3 percent more effective than men in terms of leadership, only about 3 percent of top company CEOs are women.
If you want to make it big as a woman in finance, then consider finding a role model or mentor. Here are five women who have shattered traditional perceptions and made a name for themselves in the investment world:
Abigail Johnson, Chairman and CEO, Fidelity Investments
Called “the most influential woman in finance” by Boston Magazine, Abigail Johnson is a force to be reckoned with. Fidelity Investments is a 72-year old firm, but Johnson is “determined to remake her family’s company for a new generation. And she’s willing to shake up the old-boys club to do it.” She has been featured on many Forbes’ lists, including Forbes Most Powerful Women of 2018 with a rank of #5.
After over 30 years of working at Fidelity under her father, she was named CEO in 2014, and Chairman in 2016. Johnson is famous for pivoting away from traditional Fidelity strategies, and in her first year as CEO, Fidelity saw profits of over $5 billion for the first time ever. Apart from being an undoubtedly stellar female businesswoman, Johnson works with youth organizations to promote financial services as a career choice for young women through Fidelity’s Boundless program.
Linda Bradford Raschke, Professional Trader
Professional trading is a difficult field. Al Hill, co-founder of TradingSim writes, “First off, trading is honestly worse than a sales job or entrepreneurship when it comes to steady income. The level of uncertainty can be unbearable if you have never gone without a steady paycheck.” But the level of unpredictability didn’t stop Linda Bradford Raschke, who has made it to the top as a professional trader.
Starting off as a trader in the early 1980s, Raschke worked as a market maker for stock options. After working at the Pacific Coast Stock Exchange and then the Philadelphia Stock Exchange, she became a self-employed day trader. She has written a book on trading strategies that is widely featured in the media and is often called upon to lecture on trading for many renowned organizations like Bloomberg. Even though she is retired today, her legacy included two financial firms that bear her initials LBRGroup, Inc., a commodity trading advisor, and LBR Asset Management, a commodity pool operator.
Lubna S. Olayan, CEO, Olayan Financing Company
Lubna S. Olayan is the CEO of one of Saudi Arabia’s top companies, Olayan Financing Company. Not only is she responsible for 50 manufacturing companies, but she has also been featured on the Forbes’ “Most Powerful Women” list. Olayan is a great example of breaking barriers. As a Saudi woman in the 1980s, working in business was not considered socially acceptable. Even today, it is still rather uncommon for Saudi women to work outside the house.
But Olayan didn’t care much for these societal restrictions and didn’t let cultural perceptions get in her way. Today, she employs over 540 women in her company and is a strong advocate for women in the workforce. Her skill and perseverance led her to become the first female board member of a Saudi public company, Saudi Hollandi Bank in 2004. She has also served as a board member for Egyptian Finance Company and the investment bank Capital Union.
Aileen Lee, Founder and Partner, Cowboy Ventures
Featured on Forbes’ Midas list, Aileen Lee is the cofounder of Cowboy Ventures. According to Forbes, “Lee secured the #97 rank thanks in part to her investments in Bloom Energy, which could list on the public markets as soon as May and was most recently valued at about $3 billion; Dollar Shave Club (acquired by Unilever for $1 billion in 2016); and Rent the Runway, which raised funding this year at an estimated valuation of nearly $800 million.”
Sound investments aside, it is worth noting that Cowboy Ventures in one of the first VC firms to be launched by a woman. Previously, Lee worked at the prestigious firm Kleiner Perkins Caufield & Byers for 13 years. As a champion for women in the workplace, Lee is also a founding member of All Raise, which runs a one-on-one mentorship series for women in investment called “Female Founder Office Hours.”
Marie Chandoha, President and CEO, Charles Schwab Investment Management
With over 35 years of investment experience, Marie Chandoha was named CEO of Charles Schwab Investment Management (CSIM) in 2010. Chandoha got where she is today by taking risks. For instance, as stated by Forbes, “she once took a role at a company heading an underperforming department. She knew the job could disappear if she didn’t turn the unit around and the parent company collapsed it.” Instead, Chandoha successfully made the department profitable again, allowing her to move on to other roles.
Prior to joining CSIM, Chandoha was the global head of the fixed-income business at BlackRock (formerly Barclays Global Investors). Chandoha is a strong businesswoman, but also has an innate concern for the well-being of others. She acts as a mentor to many women colleagues and encourages them to take career risks and stretch themselves. She is also an advocate of sustainability and owns a ranch with her husband dedicated to sustainable farming practices.
Being a woman in investment is no easy feat. With a multitude of various obstacles along the way to the top, much still needs to be done to even the playing field between men and women in business. That being said, if you’re a woman in finance looking to shatter the glass ceiling, don’t lose hope. After all, as proven by these five titans of the investment world, sheer grit and determination can lead to success.
“Age is not important unless you’re cheese.” – Helen Hayes, an American actress whose career is said to have span 80 years.
When I saw her quote for the first time, it made me think of two things:
- The really good cheese I enjoy that takes time to age.
- The people I know who are doing amazing things and “have aged” according to cultural concepts of aging.
One of those people who stands out to me is someone named Sherry Saterstrom. I met Sherry when I was a college student and she was a dance professor. She has the kind of voice recognizable from across a room. She expresses the energy of what she’s communicating in exclamations and punctuative sound. Similarly, she is nimble and quick, and the most energetic and curious person I have ever met. At the time, she was also almost 70 years of age.
While I was at school, I took several of her dance classes, one of them I even took twice just because it meant more time around Sherry. We learned anatomy, physiology, evolution, somatics, dance, and improvisation, and practiced something we now call “Mindful Movement.” As students, we watched and learned as this limber and spritely woman showed us how with an attention to alignment you can be in the middle of lecture and discover you can do a handstand (this literally happened one day while we were in class).
When I think of someone who doesn’t let anything, like expectations around what someone at age 70 should be doing, I think of Sherry. In fact, her more recent jump from teaching into what most people call retirement also took a more unconventional route.
After spending 30 years (of one year contracts) teaching dance at St. Olaf College, Sherry decided it was time for one great life phase to end. No, she wasn’t retiring. As a St. Olaf alumnus herself, she told everyone, “I’m finally graduating.”
During her time teaching at St. Olaf, she had never gone on sabbatical, so her first year after “graduation” she set aside as “sabbatical.” She gardened, cross country skied, cooked, organized her home office, and probably ate yummy cheese. But she didn’t sit around in the fridge like cheese. In fact, winter, when Minnesota feels the most like a refrigerated world, is when Sherry loves to be outside the most.
This year, she told me she’s looking for a market. She’s ready to start her own venture about mindful moving and fitness.
“This is an idea I had 20 years ago, but when I was thinking about it then, I was 20 years too early!” She says, “Today, even when I go to the Y for my cross fit class I hear the trainers talking about being mindful. Who knows, maybe I’m still wrong and it’s too early, but I think there’s a wider awareness now about what mindfulness is and that makes me look for a market to launch a venture offering new kinds of classes.”
Lessons about Age
Listening to Sherry’s story, I wonder: how did she know this was the idea she wanted to go for? In some ways, it was because it’s something that she has been fascinated by for decades. In other ways, it’s because she has seen other people talking about the concepts she wants to build a business around. Either way, her age has given her the advantage to see her idea in a broader context.
That tells me two things:
- We all have potential skills and value to offer already inside us. Like an expensive cheese, we have so much depth and richness that can create value in the world today. Potentially, even greater value the more we age!
- Hearing about other people thinking the same thing isn’t a bad signal. In fact, it may be a signal the idea you have is even more worth doing. Timing is critical in launching and getting traction around a business, and knowing your idea resonates with people who may be future customers is a great signal you’re onto something good.
While things are still early for Sherry, what I love about her journey into “retirement” so far is that it’s characterized by a clear intention to throw out the window all the things we think “should” happen as we get older. Instead, she plans to continue to be curious about what’s next. No venture is too big or too small when you set your mind to it and begin to see all the possibility. Who knows, maybe Sherry’s career in dance will eventually rival Helen Hayes’ career in acting. If you’re going to have that much life, what are you going to get up to?
If you’re curious about what this world of mindfulness that Sherry has seen come to life looks like, take a peek at the Mindful Movement Intro Series from Aging Courageously.
Enjoy this contributed post and wonderful infographic provided by Trainwest! – Kimberly
“We need women at all levels, including the top, to change the dynamic, reshape the conversation, to make sure women’s voices are heard and heeded, not overlooked and ignored.” – Sheryl Sandberg
Over the past century, women have made huge strides towards achieving gender equality. Following on from decades of hard work and activism, we are now seeing an inspiring number of women taking up powerful and influential leadership roles across the worlds of business, law and politics.
However, while the percentage of female leaders is higher than ever before there is still much work to be done. Despite massive advancements, women still comprise a mere 12% of board members and only 6.3% of national leaders across the world. For every Oprah Winfrey and Angela Merkel, there are millions and millions of women who are still unfairly losing out on leadership opportunities.
(For full infographic, click “Continue Reading”.)Continue reading
When you grow up
You spend your life trying to figure out what you’re going to be when you grow up. Maybe you know from the get-go or maybe, like me, you are just trying to figure out the next step along the journey.
When I was little, I never really had a clear idea of what I wanted to be when I grew up. I thought, “I could be a ballerina, or maybe a teacher, or a doctor, or a secretary.” Every time I picked something, I felt like I was jumping in a category of people and nothing felt just right. What if I started a job when I was 22 and woke up ten, twenty, thirty years later and decided it wasn’t for me? In some ways, I feel like my early career has been dictated by the fear that I will have to choose something and stay with it… for the rest of my life.
When I was 18, my mom (age 48) decided to quit her job and go back to school to become a doctor. Nobody knew how this was going to go.
There was only one school that accepted her, so clearly not many places thought she could do it, right?
How can someone reinvent themselves just like that?
Last year, my friend Aaron lost his job at age 52. He told me, “It’s likely the best years of my career are behind me now, Kirsten.”
When we live to be a 102, how can the best years of our lives be behind us at age 52?
One day while my uncle drove me to the airport, he said he wished he could find work he really loved. “I love antiques, but where are the jobs in antiques? Plus, who would hire a guy in his late fifties anyway? I’m worthless on the job market.”
Do you know the feeling? You have experience, and yet somehow it doesn’t mean anything?
So what’s left for you?
While I was in grad school at UC Berkeley, I studied demography, or population studies. In one class, the professor put up a picture on the screen and said, “The U.S. population is aging. We know it, we can see it, and the only way we are going to be able to survive it is if you go out and make better institutions.”
When I look at these four situations, I think, “There’s got to be a way that we can live that supports us in finding something we care about and can make a living doing, no matter how old we are, no matter what stage in life we are in.”
Now there is.
Whether you’re looking for a new story, sending kids off to school, leaving a long standing career for retirement, or something else entirely, you can reinvent yourself. This is something I believe deeply.
Launched in 2018, Aging Courageously will inspire and strengthen you to make your dreams real at EVERY age. Rather than follow the social momentum of slowing down as you get older, with Aging Courageously it’s never too late to feel engaged and passionate about your life.
Who am I?
I’m Kirsten. I guide people in restoring their sense of self through major life changes.
How did this become my life?
As I said, when I was little, I felt like every time I considered a career for myself I was deciding on something that would stick for the rest of my life. Honestly, being put in a category like that scared me. So, I decided I didn’t have to just do one thing. I researched brain cancer in a genetics laboratory at Mayo Clinic, curated exhibitions at an Austrian ethnographic museum, worked as the head baker in a farm to fork bakery on a fruit orchard, and got a Master’s degree at UC Berkeley where I studied populations and aging. After it all, I was sure there was something more for me.
That something more turned out to be sharing my own story. I wrote a memoir called “In My Own Skin”. It’s memoir about my story of loss, love, and growing up after my dad died when I was 14 and my family was in a car crash. Reflecting on the choices and circumstances that have shaped my life, I want to help you love who you are and make your dreams possible from where you’re standing right now.
Let’s get this started!
That’s why I started Aging Courageously. Because the best way to grow up to a fulfilled life is to believe it’s possible at ANY age.
And that’s why I’m excited to share stories of Aging Courageously with you, my new friends at Scrappy Women. We know what it’s like to create something from nothing – “to take risks and put ourselves out there;” “to care about something more than we care about being comfortable, socially acceptable, or politically correct;” and “to be absolutely, totally committed to extraordinary results.” As we venture on this journey into the world of aging, grab hold of your scrappiness and dive in. Let’s show the world just how far our scrappiness can take us in living long, healthy, and fulfilled lives.
Stay tuned for my next post about my friend Sherry, a 70 year old “graduating” into entrepreneurship.
(In case you’re curious…Above is a picture of my mom speaking at her medical school graduation.)
Navigating the road to your career is not always easy — especially as a woman. Although we have been pointedly fighting for gender equality in the workplace for decades, if not centuries, there is still a long way to go.
Finding a mentor can help alleviate some of the challenges that come along with finding out how to get where you wanna go. However, finding a mentor can be a challenging process itself. Here is what you need to know as a business woman looking for a mentor.
It’s vital to keep workplace discrimination in mind when looking for a mentor, especially if you’re a woman of color. Plenty of bias, prejudice, and stereotyping go on in the workplace, including persistent pay gaps between men and women. In order to avoid, tackle, and overcome discrimination issues, you must learn to recognize sexism in the office. Examples of gender discrimination include:
- Unequal pay
- Biased interview questions (i.e. do you have kids?)
- Confirmation bias
- Diminished responsibility
- Gender roles and stereotypes i.e. men are strong, women are emotionally intelligent
- Pregnancy discrimination
- Unlawful termination
Hopefully, there are no major signs of gender discrimination in your office, but if there are, know your rights and speak up. You can always talk to the Human Resources department to discuss your options.
When thinking about who you want to be your mentor, keep in mind the people who are doing the discriminating, and take note of who is speaking up. Perhaps a male manager checks the person saying something that can be offensive, perhaps a female manager takes action to make sure it doesn’t happen again. Obviously, you don’t want to have a mentor who will discriminate against you or other women, so try to find someone who can guide you in standing up for workplace rights.
Gender and Female Empowerment
In a mentor, you will want to find someone who does more than stand up for others when they need help. You want someone who will not see you as just a woman, but as a strong, skilled employee. Of course, being a woman is also powerful, so you should look for someone who will help empower you.
According to the findings from research on hostile work environments, “a whopping 84 percent of women have been told that they behave too aggressively, while 47 percent report being asked to do lower level tasks not asked of their male counterparts, like taking notes or ordering food.”
Due to this type of gender discrimination, you should consider gender as a factor in who you choose to be a mentor. If you choose a male mentor, they can potentially help you go after what you want more. The Wall Street Journal reports that “men are more likely than women to feel confident they are en route to an executive role.” In their study they found that men win more promotions, challenging assignments, and access to top leaders than their female coworkers.
Finding a male mentor can help you adopt a strong, confident attitude in the office that can help you further progress in your career. On the other hand, there are definitely major benefits to having a female mentor.
A female mentor is more likely to understand your perspective. They are likely to have experienced workplace discrimination at at least one point or another, and they can help you find ways to conquer it; having a female mentor can help you become the strong career woman you are striving to be.
Regardless of gender, you should look for a mentor who encourages employee development. This can be someone who pushes you and others to look for new opportunities in the office, such as applying for other positions within the company and helping you advance your career. They will be the ones to give you the push you need to get where you want to go, even if it means exploring paths you hadn’t really considered, such as getting a Master’s of Business Administration or another degree relevant to your career.
Being a Good Leader for Other Women
There is no question that the business world needs more women in it, especially in positions of authority. Hopefully, your mentor will help you rise to meet and surpass your goals in your career. This way, you can become a leader, and eventually a mentor, for other employees looking for guidance.
Of course, you should do everything you can to use your position of leadership and power in the workplace to be a good boss to other women and lift up female employees in particular. Washington State University states that being a good leader to other women means fostering “a business environment that invites and involves women in business to gain respect and to feel valued for their contributions, leaders and managers can work to overcome the roadblocks on the way toward building fulfilling careers.”
On your path to finding a mentor and learning where you want to go in your career, make sure to learn from women leaders other than your mentor. Look for inspirational readings from other women, like Inna Rosputnia and Mariellie Rodriguez Mundy. With consideration, patience, and confidence, you can find the right mentor to help you be your best self in the workplace.
Thanks to Avery Taylor Phillips for this fabulous post! Enjoy! – Kimberly
There are many reasons that the realm of skilled trade jobs has become particularly alluring to the female demographic. Aside from the need to fill an increasing gap of viable trade workers, it is a mutually beneficial work environment for women. Here are the biggest reasons to consider a skilled trade position if you are a female going to college:
Benefits of Skilled Trades
Skilled trade jobs offer high job security. The majority of blue collar workers have grown into older adults reaching closer to their retirement age. This means that as they age out and leave their positions, more and more job opportunities are going to continue to come available.
Making sure that young workers are prepared to replace retiring baby boomers is a crucial component to filling the shortage gap of skilled trade employees. Since women have not historically made up a large portion of skilled trades, integrating them into these jobs is essential to the future of trade industries. These types of positions also provide an opportunity for women to grow in a company.
Phones and laptops make us constantly available to work. This makes it easy to lose the clock-off time of 5 p.m. and find yourself working long into the nights and weekends. When your work-life balance gets off-kilter, you lose many valuable things, including your time, attention, and maybe even your health.
Overworking is known to lead to mistakes, stress, and overall deterioration of your wellness. In this article, we’re going to talk about the struggles to maintain a healthy work-life balance while balancing family and personal needs. We’ll also cover what you can do about it.Continue reading
I stood in front of hundreds of people, worrying that the microphone would slip out of my sweaty hands. Suddenly, my throat swelled up, and my chest became heavy. I took a moment to reflect on how I’d ended up on this stage. This was different from anything I had done before.
For years, I had entertained my parents with stories from school and accents I picked up. My parents would hang on every word, laughing hard. Then they would invite me to perform in front of their friends. Embarrassed at first, I became more comfortable the more my audience laughed. Soon, I was making up stories on the spot, coming up with new ways to embellish and exaggerate to get people howling with laughter. Almost every week, I’d find a new family to entertain.Continue reading
When was the last time you checked your credit status? If it’s been more than six months to a year, you may want to make this a priority. Though it may not seem like a big deal at the moment, as companies begin to become increasingly dependent upon credit to determine eligibility for products and services, a poor credit history could mean the inability to get even some of the most basic things.
Don’t believe it? Here’s how a negative credit rating can impact your life.Continue reading