Business School Education and Women’s Career Success in the Financial Services Industry

Business schools create the talent pool of future corporate leaders, among whom women are underrepresented, particularly in the financial services industry. Research shows that women report lower financial self-efficacy and less inclination to pursue risky financial services careers compared to men. However, it remains unknown if business schools challenge patriarchal practices that uphold male career advantages. This study measures the effects of a lecture intervention designed to challenge gender stereotypes. Surveying business school students before and after the lecture reveals that certain attitudes to financial decision-making and careers follow limiting, gender stereotypical, patterns. Female students have lower financial risk tolerance and both genders associate financial careers and investing more with the male than the female gender. Reassuringly, these attitudes are somewhat responsive to the lecture intervention. These findings are relevant to the development of effective education strategies at business schools. Strategies that foster a more gender balanced workforce, a workforce that can encourage inclusive practices in the financial services industry.