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Happy Monday!

I hope to see many of you this week at our upcoming series, “What Keeps Family Office Executives Up at Night?” The program was put together by one of our members who runs an Austin-based family office and has very useful content. You will not want to miss this! Please note that men and women are welcome to attend this event.

From the parenting file, there was a great op ed in the NY Times this weekend. Written by one of the first women to join the San Francisco Fire Department, she asks the question “Why do we teach girls that it’s cute to be scared?”  Childhood is a time to encourage children to try new things and face their fears. The author notes that when girls become women, fear manifests itself in deference and timid decision making – and who needs that? The question reminds me of the Eleanor Roosevelt quote ‘Do one thing every day that scares you.’ So if you were raised with fear conditioning, there is no time like the present to overcome it! Read on: http://www.nytimes.com/2016/02/21/opinion/sunday/why-do-we-teach-girls-that-its-cute-to-be-scared.html?_r=0

As my readers are aware, the high tech industry has been criticized for its lack of diversity. In addition to a focus on their hiring practices, many Silicon Valley firms have also made diversity a priority when hiring their investment banking firms. The full article can be found here:  http://www.bloomberg.com/news/articles/2016-02-18/silicon-valley-pushes-for-diversity-on-wall-street

A study in the journal Science Advances found that buyers on eBay bid more for goods sold by men than women, and this despite the fact that women sellers were higher rated than male sellers. The full article can be found here:http://www.nytimes.com/2016/02/20/science/male-sellers-on-ebay-have-an-edge-over-women-study-finds.html

From the Wall Street Journal, new research shows that when workers wear nicer clothes, they achieve more. Read on:http://www.wsj.com/articles/why-dressing-for-success-leads-to-success-1456110340

And finally, recent research, published in the Journal of Business Ethics, US banks with female CEOs or Chairman had more conservative capital levels and were less likely to fail during the financial crisis than banks run by men. The full article can be found here: http://www.wsj.com/articles/banks-run-by-women-might-be-less-vulnerable-in-a-crisis-1456110317

I hope you will all join us on April 28th for TXWSW 7th annual State of the Markets event – we are thrilled and honored to have an all-star line-up of CIOs who will share their opinions on their market outlook. The panelists this year include Janet Handley, CIO of the Texas A&M Endowment, Katherine Nixon, CIO of Northern Trust, Carol McFate, CIO of Xerox Corporation and Paul Ballard, CIO of Texas Treasury Safekeeping & Trust Company. For our sponsor breakfast on April 29th, we will have secured the Editor of “The Daily Shot” as our keynote speaker.  Tickets are on sale and sponsorships are available. We thank you all for your continued support as we continue to grow and look forward to seeing you all soon!

 

Very kind regards

 

Christine

 

Happy Thursday!

There was a great article in the NY Times detailing a study of over 2200 companies in 90 countries. Of those firms, almost 60% had no female board members, more than 50% had no female executives and just fewer than 3% had a female CEO (it is 2016, right?). The study found that female CEOs did not either outperform or underperform, and it found some indications that having women on boards was correlated with higher profitability. The study found overwhelming evidence  that having women in management had a direct improvement in overall firm profitability. Increasing the number of women in management from 0% to 30% was associated with a 15% increase in profitability – now what rational person would not want that? The full article can be found here: http://www.nytimes.com/2016/02/10/business/women-in-company-leadership-tied-to-stronger-profits.html

ACIO magazine interviewed Gina Miller, founder of SCM Direct, who called out our industry brethren for paying lip service to diversity without really doing anything about it. To quote her “Inequality is a real issue and is hindering competitiveness. The evidence is clear: Diverse teams make better decisions and deliver better results. Clearer employee data, improved recruitment processes, and a reinvigorated focus on business culture will all pay dividends—whatever the size of your company.” The full article can be found here: http://www.ai-cio.com/channel/NEWSMAKERS/Diversity%E2%80%94Let-s-Get-Real/

For the entrepreneurs out there, an article in the Huffington Post highlighted exactly why women don’t get funding from VCs complete with a text exchange that illustrates that even today (still 2016, right?), the majority of men in power think of women as either wives or mothers as opposed to competent human beings.  A quote from the article sums it up: “When you ask me about having it all, or how am I going to manage my kids, I seriously think that you are insane,” writes Nadav, who is about to launch a new financial startup. “Because in my head, I can’t imagine a scenario where you trust someone with millions of dollars to run a business but think that they don’t know how to deal with childcare.” The full article can be found here: http://www.huffingtonpost.com/entry/why-venture-capitalists-dont-fund-womens-businesses_us_56c2265de4b08ffac1260793

As a follow-on to the article demonstrating that when female economists collaborate on a group project, their contributions are overlooked, the Harvard Business Review did its own study and found that women definitely experience a ‘collaboration penalty’ when working in groups. Read on:https://hbr.org/2016/02/proof-that-women-get-less-credit-for-teamwork

For those of you in the job market, there is a new website that allows female employees to leave anonymous reviews for other women about how female friendly a company really is. The full article can be found here: http://www.theatlantic.com/business/archive/2016/02/women-benefits-fairygodboss/460275/

And as if being overlooked and underappreciated was not enough, an article from Bloomberg, your gender can have a negative impact on your credit score. In spite of the women have lower overall debt and credit card balances, men edge out women when it comes to that all important rating:http://www.bloomberg.com/news/articles/2016-02-10/does-your-gender-affect-your-credit-score

We have just an outstanding line up of events coming for you in 2016. We thank you all for your continued support as we continue to grow and look forward to seeing you all soon!

Very kind regards

 

Christine

Happy Monday!

Bloomberg reviewed the new film ‘Equity’ that is making its debut at Sundance – the film looks at the modern world of investment banking and the challenges confronting women working in the industry. It sounds like this will be a must see when it makes wide release: http://www.bloomberg.com/news/articles/2016-01-21/-equity-brings-dark-side-of-ipo-world-to-sundance-film-festival

Fortune reported that Intel achieved gender pay parity in 2015 which goes to show that it does not take wasting millions of dollars on diversity programs to achieve concrete results. Huge kudos to Intel! Read on: http://fortune.com/2016/02/03/intel-gender-pay-parity/

In spite of allocations set aside for women and minorities, women owned businesses were  less likely to be awarded contracts by the US because of bias. The full article can be found here: http://www.nytimes.com/2016/02/03/business/smallbusiness/businesses-owned-by-women-less-likely-to-win-us-contracts-study-shows.html

And if there was any doubt that there was bias in the media, a new study by researchers in the UK vacuumed up 2.3 million articles from 950 sources from the NY Times to the BBC from October 2014 to April 2015. The results showed that women are more likely to appear in photographs than in the text of articles. The full article can be found here: http://www.bloomberg.com/news/articles/2016-02-04/women-are-eye-candy-not-news-sources-online

We have just an outstanding line up of events coming for you in 2016. We thank you all for your continued support as we continue to grow and look forward to seeing you all soon!

Very kind regards

 

Christine

Happy Monday!

A recent Newsweek article explores the disconnect between the outperformance of women-run funds and the dearth of assets allocated to those funds. As of 2015, only 2% of hedge funds were run by women and the majority of those managed less than $100 million – so not only is there discrimination in the allocation process, the funds targeted to women and minority managers are not making their way to women. The full article can be found here: http://www.newsweek.com/2016/02/05/hedge-fund-women-419481.html

Former Bear Stearns trader Maureen Sherry has published a novel sharing her Wall Street experiences in a farcical tone. The story details a lot of the frat boy antics she experienced on the trading desk, and that she and the other women at Bear were part of the “Glass Ceiling Club.’ The full article can be found here – the novel should make for good Spring Break reading: http://www.nytimes.com/2016/02/01/business/media/a-comic-take-on-wall-street-by-an-ex-bear-stearns-executive.html?_r=0

From the world outside of Wall Street, CNN took note of the fact that after the huge East Coast blizzard, the Senate was back open for business last Tuesday and only the women showed up for work. Read on:  http://www.cnn.com/2016/01/27/politics/senate-floor-women/index.html

Advertising executive Madonna Badger has started a powerful campaign against the objectification of women that is routine in her industry. Her short video is powerful and a must watch:  http://money.cnn.com/2016/01/26/media/womennotobjects-ad-campaign/index.html

And finally to remind us just how fortunate we are, there was a great article this weekend on the struggles that women in India face as they seek employment. Even though their Constitution guarantees equality under the law, the reality these women face in 2016 is a dangerous one:http://www.nytimes.com/2016/01/31/world/asia/indian-women-labor-work-force.html

We have just an outstanding line up of events coming for you in 2016. We thank you all for your continued support as we continue to grow and look forward to seeing you all soon!

 

Very kind regards

 

Christine

Happy Monday!

The big news last week was the focus on getting more gender diversity at the Davos Word Economic Forum. No surprise that the gender makeup of the attendees mirrors the paltry numbers of women in positions of influence around the world. Read on: http://www.nytimes.com/2016/01/20/business/dealbook/a-push-for-gender-equality-at-the-world-economic-forum-and-beyond.html?_r=0

One institution taking real action to improve diversity is the Academy of Motion Picture Arts and Sciences – in response to the outcry for yet another slate of all white actors, its board announced substantial changes which will make its voting members significantly more diverse. Part of the problem was that its voting members are 95% white, 76% men and their average age was 63. Kudos to the Academy for taking steps to achieve real change: http://www.rollingstone.com/movies/news/academy-promises-historic-changes-to-diversify-membership-20160123

From Bloomberg this week, the title of the article says it all “At Biotech Party, Gender Diversity Means Cocktail Waitresses.” Investors in the space need to take a page from the Academy’s book to address this lopsided situation:http://www.bloomberg.com/news/articles/2016-01-13/at-biotech-party-gender-diversity-means-cocktail-waitresses

Which brings me to an opinion piece from the NY Times this week that asks the question, “Why Aren’t Women Doing Better on Wall Street?” The author shares stories of a young banker who was groped publicly to settle a bet about whether her breasts were real and another woman who had a colleague take a shot of her breast milk that was in the company refrigerator on a dare. The author notes that this behavior goes largely unpunished because of the arbitration system that Wall Street uses to settle employee disputes. The upshot? The offenders go unpunished and women end up leaving the industry which contributes to the talent gap at the top. The full article can be found here: http://www.nytimes.com/2016/01/24/opinion/a-colleague-drank-my-breast-milk-and-other-wall-street-tales.html?_r=0

Another interesting opinion piece came from the Huffington Post exploring why a white woman is suing to disable affirmative action. The article goes on to note that white women have benefited from affirmative action more than any other class, however, my readers will note that most young women don’t realize that the glass ceiling will hit them firmly on the head when they reach about 30 so they have the illusion of equal opportunity until then: http://www.huffingtonpost.com/entry/affirmative-action-white-women_us_56a0ef6ae4b0d8cc1098d3a5

And if you think my math is off, note the following statistics about Barclays Bank which is making gender diversity a priority – in the news this week, Barclays  noted that the bank has 51% female and 59% male employees, however men occupy 80% of top jobs and board positions, so still a very long way to go: http://money.cnn.com/2016/01/22/news/companies/barclays-bank-women-gender-workers/

Since January is prime job hunting season, I wanted to share this article on how the hiring process timeframe has been extended and the best way to manage it: http://www.wsj.com/articles/how-to-deal-with-a-long-hiring-process-1453231053

Lastly, the 80’s began the move away from offices and to cubicles with the thought of both saving money and increasing collaboration. The downside is that new research shows that those cube farms also make it very difficult to concentrate thereby lowering productivity: http://www.wsj.com/articles/will-you-please-be-quiet-please-1453247167

We have just an outstanding line up of events coming for you in 2016. We thank you all for your continued support as we continue to grow and look forward to seeing you all soon!

Very kind regards

 

Christine

Happy Tuesday!

I hope you all enjoyed the holiday weekend. It is sad that as we commemorated what would have been Martin Luther King’s 87thbirthday, the Academy chose this week to announce an all-white line up of nominees in the acting category. As a society, we have to ask ourselves why we allow discrimination to continue to exist in 2016. At a minimum, we can certainly vote with our wallets and choose not to tune into the broadcast. The full article can be found here:http://www.huffingtonpost.com/entry/the-academy-proves-that-oscars-are-only-for-white-people-again_5697b067e4b0ce4964235693

From the world of private equity, CVC is sued by their only female managing director for firing her after she filed a complaint with the firm’s HR department charging sexism: Read on: http://www.bloomberg.com/news/articles/2016-01-16/cvc-capital-executive-says-she-lost-job-over-complaint-of-sexism

On the topic of the gender pay gap, Claire Cain Miller makes great suggestions for the best way to bridge that stubborn gap. Her suggestions include building more flexible workplaces, making work easier for mothers, coaching women in salary negotiation and ‘gasp’ make salary information public. The full article can be found here:http://www.nytimes.com/2016/01/17/upshot/how-to-bridge-that-stubborn-pay-gap.html?ref=topics

If the thought of an open-pay policy is causing you discomfort, there was a great article in the WSJ last week about how to tackle it while avoiding the awkwardness. The full article can be found here: http://www.wsj.com/articles/open-salaries-the-good-the-bad-and-the-awkward-1452624480

We have just an outstanding line up of events coming for you in 2016. We thank you all for your continued support as we continue to grow and look forward to seeing you all soon!

Very kind regards

 

Christine

Happy Monday!

Last week’s topic was all-male panels and how shameful they are in 2016. To help bring attention to the problem, there is a ‘manel’ hall of shame on Tumblr were you can share any one you come across: http://allmalepanels.tumblr.com/

From the Harvard Business Review, there was a great article outlining how corporate diversity programs are failing. US firms spend millions coming up with diversity mission statements, conducting trainings etc. and yet these efforts have produced dismal results. In fact, the mere presence of a diversity policy has made it easier for companies to discriminate.  The full article can be found here: https://hbr.org/2016/01/diversity-policies-dont-help-women-or-minorities-and-they-make-white-men-feel-threatened  And more thoughts on the same article: http://www.huffingtonpost.com/entry/diversity-programs-are-failing-minorities-heres-a-better-way_568c119be4b014efe0dbeb8a

The bright side is that there ARE solutions to the problem. Huge kudos to Compose Inc. for instituting blind hiring to help them find the most qualified candidates regardless of gender or ethnicity. Read on: http://www.wsj.com/articles/the-boss-doesnt-want-your-resume-1452025908

And from the world of academia, it seems that the reason economics remains a male dominated profession is that when women collaborate on a project, the men are given all the credit and the women’s contributions are discounted which has a very detrimental effect on their chances for advancement. The full article can be found here:http://www.nytimes.com/2016/01/10/upshot/when-teamwork-doesnt-work-for-women.html

We have just an outstanding line up of events coming for you in 2016 starting with the Dallas event in two weeks. We thank you all for your continued support as we continue to grow and look forward to seeing you all soon!

Very kind regards

 

Christine

Happy Monday!

And Happy New Year to you all – may your New Year be filled with love, peace and happiness and very best wishes for a happy healthy and successful 2016.

My wish for the new year is that we see an end to ‘manels’ – or all male panels – which in spite of the attention on the issue has proved slow to change. As the next story will highlight, there is not a shortage of smart, talented women out there so the issue is one of conference organizers not believing there is an issue to address. Ladies, we are 51% of the population and we control 90% of the spending in this country – the solution to this issue is to vote with your wallet. By not attending events with all male panels, it will send a message to the organizers – and speaking up will also help. If you are a member of a group that regularly only features male speakers, say something. Change happens when there is an impetus!

CNN did a great piece on women who changed the world in 2015 – great inspiration for your new year. Read on:http://www.cnn.com/2015/12/27/opinions/ghitis-women-of-the-year-2015/index.html

Lastly, more evidence of workplace bias – even with the jobless rate falling to near full employment, women over 50 have the hardest time finding a job and make up the majority of the long term unemployed. The full article can be found here: http://www.nytimes.com/2016/01/02/business/economy/over-50-female-and-jobless-even-as-others-return-to-work.html?_r=0

We have just an outstanding line up of events coming for you in 2016 starting with the Dallas event in two weeks. We thank you all for your continued support as we continue to grow and look forward to seeing you all soon!

 

Very kind regards

 

Christine

Happy Monday!

I hope you are all enjoying the holiday season. I found one article in the Harvard Business Review that I wanted to share as you think about next year – this is good advice for all of us!  Read on: https://hbr.org/2015/12/commit-to-under-scheduling-in-2016

I also wanted to resend a very powerful comic strip that, I hope, will change the way you look at privilege. It places to individuals side by side showing how financial security or the lack thereof can lead to different outcomes even if a child has a loving family to support them:http://www.mbctimes.com/english/this-comic-will-forever-change-the-way-you-look-at-privilege

In a nutshell, this is why I am such a passionate advocate for girl’s education – if we can help the YWPN students come away with a solid college preparatory education and adequate scholarship money for college, then we are changing the outcomes, not only for these girls, but for the future families they will have. Your involvement in not only donating money, but in volunteering will give them access to information on career paths and contacts for internships that will place them firmly on the path to success with the multiplier effect that investing in girls brings.

To that end, I am asking all of you to help TXWSW with their support of the 7 girls’ schools run by the Young Women’s Preparatory Network – if you have year-end giving to do, I would ask you to include them in your philanthropy: http://txwsw.com/give/

Happy Holidays to you all – may your New Year’s week be filled with love, peace and happiness and very best wishes for a happy healthy and successful 2016.

Very kind regards

 

Christine

Happy Monday!

Kudos to TXWSW member Pam Friedman on the release of her new book “I Now Pronounce You Financially Fit.” The book details how to protect your money in marriage and divorce. This advice has historically be available to wealthy clients, and Pam has created a good ‘how to’ manual making the information more accessible. You can find details here: http://inowpronounceyoufinanciallyfit.com/

A recent study noted that black presence on boards is shrinking. Part of the issue comes down to bias – as more women are added to boards, they take up the ‘minority’ seat thereby shrinking available seats for other minorities. Another reason cited it that activist hedge funds put forward slates of mainly white men when they fight for board seats. According to an analysis of SEC filings, in 2013, activists nominated 50 directors for board seats of which 40 were white men, 6 were white women, and just one was African American. The full article can be found here: http://finance.yahoo.com/news/black-presence-u-boards-shrinks-165237140.html

A story from Austin TX underscores the importance of women supporting each other and communicating the workplace. A 26 year old with a degree in journalism was offered a role at a prominent PR firm, and with the offer came ‘unwanted sexual advances including requests for inappropriate photographs.’ This woman decided to share her experience with several other staffers which triggered more than half a dozen reports of sexual harassment and at least two incidents of sexual assault being reported. Bottom line? If you see something, say something. Women are silent because they think it is ‘just them’ and it never is. Read on:http://www.huffingtonpost.com/entry/trevor-fitzgibbon_56743a0ce4b0b958f6566358

I wanted to share this powerful video with you all that was created by the Norwegian charity organization CARE. It is a message from a daughter to her father, and follows a woman’s life from birth to adulthood and illustrates the various forms of sexism a woman experiences and how sexism quickly morphs into violence against women. I urge you to share this with everyone you know and underscore that seemingly ‘innocent’ derogatory language we use against women is harming us all:http://www.huffingtonpost.com/entry/a-chilling-message-about-sexism-from-daughters-to-their-dads_56704d2de4b0e292150f5923

And lastly, huge congratulations to our Fort Worth committee for hosting a successful fundraiser for their local YWPN school last week. With over 100 in attendance and Tonya Veasey, CEO at Open Channels Group as their keynote, a good time was had by all. I want to thank all of the sponsors and attendees for their support of our students.

To end, I wanted to share with you all a very powerful comic strip that, I hope, will change the way you look at privilege. It places to individuals side by side showing how financial security or the lack thereof can lead to different outcomes even if a child has a loving family to support them: http://www.mbctimes.com/english/this-comic-will-forever-change-the-way-you-look-at-privilege

In a nutshell, this is why I am such a passionate advocate for girl’s education – if we can help the YWPN students come away with a solid college preparatory education and adequate scholarship money for college, then we are changing the outcomes, not only for these girls, but for the future families they will have. Your involvement in not only donating money, but in volunteering will give them access to information on career paths and contacts for internships that will place them firmly on the path to success with the multiplier effect that investing in girls brings.

Happy Holidays to you all – may your week be filled with love, peace and happiness and very best wishes for a happy healthy and successful 2016.

 

Very kind regards

 

Christine

 

Happy Monday!

To begin with, kudos to Cheryl Alston of Dallas ERS for her unique approach to adding emerging managers to her pipeline. As you will see from the attached press release, Dallas ERS will be hosting a series of open houses aimed at meeting managers in a small and user-friendly setting. Cheryl feels this model will be easy for plan sponsors of any size to adopt. Read on:  http://www.prnewswire.com/news-releases/the-dallas-employees-retirement-fund-begins-unique-program-to-encourage-diversity-among-its-fund-managers-300186546.html

In case you missed it, last week Michael Moritz of Sequoia shared with the world that the reason they have not hired more women is that they are not willing to lower their standards. Ouch. The full article can be found here:  http://www.vanityfair.com/news/2015/12/michael-moritz-sequoia-women-partners-tech  Jessica Nordell wrote a great follow up on the issue – this is not a case of foot in mouth disease, this is unconscious bias rearing its ugly head: https://www.linkedin.com/pulse/its-foot-mouth-diseae-jessica-nordell

On the other end of the spectrum, the New York Times did a great piece on TSG Capital that actually sees gender equality as a competitive advantage. Love that! The full article can be found here:  http://www.nytimes.com/2015/12/09/business/dealbook/pursuing-gender-equality-as-a-competitive-advantage.html

On the issue of classroom diversity that is before the supreme court, two professors (one from UT and the other from Columbia conducting a series of experiments where they had groups competing to find the most accurate answers to problems and set up groups that were homogenous and racially diverse. The result? When participants were in diverse company, their answers were 58% more accurate because diversity brought cognitive friction that enhanced the decision making process. The full article can be found here:  http://www.nytimes.com/2015/12/09/opinion/diversity-makes-you-brighter.html

And lastly, it seems as though we may be approaching détente in the mommy wars. New research shows that as many as 92% of Americans favoring mothers working, and as importantly, 77% also support fathers not working when they are the ideal spouse to stay home. Finally! The full article can be found here: http://www.nytimes.com/2015/12/10/upshot/signs-of-a-truce-in-the-mommy-wars.html

If the thought of the holidays is leaving you feeling stressed, take time to join us for one of our Holiday Luncheons this December!  Register early to avoid disappointment!

 

Kind regards

 

Christine

 

Happy Monday!

Credit Suisse made the news last week by offering 20 weeks of paid leave to new parents. In response to increased competition for top talent on Wall Street, Credit Suisse rolled out this new perk offering the longest paid parental leave in ANY industry. And with Mark Zuckerberg leading the way in taking his paid leave with the birth of his daughter it paves the way for this to be a family benefit and not a ‘women’s issue.’ The full article can be found here:  http://www.wsj.com/articles/wall-street-perk-parental-leave-1448927064

A brilliant resource for moms who want to work part time – the next article details a terrific service – The Second Shift pairs moms who left professional careers with companies looking to hire consultants for individual projects. The full article can be found here: http://www.nytimes.com/2015/12/03/fashion/helping-moms-lean-in-but-not-too-far.html

Also in the news last week, for the first time ever, combat roles are open to all women in the military. Why is this significant? Without combat experience, promotion to senior ranks is close to impossible. Women have been on the front lines for years in support roles, so exposing them to injury and danger while blocking their promotion possibilities. The full article can be found here: http://www.nytimes.com/2015/12/05/opinion/a-victory-for-women-at-war.html?_r=0

From Forbes this week, Henna Inam explores why executive presence is harder to achieve for women and gives some good tips on how to make yours stronger. Read on: http://www.forbes.com/sites/hennainam/2015/12/02/why-executive-presence-is-harder-for-women-leaders/

And lastly, from the Harvard Business Review, a good read on how to manage meetings with people from different cultures. The full article can be found here:  https://hbr.org/2015/12/how-to-run-a-meeting-of-people-from-different-cultures

 

If the thought of the holidays is leaving you feeling stressed, take time to join us for one of our Holiday Luncheons this December!  Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Tuesday and Happy Thanksgiving to you and yours!

With the holidays upon us, this is a big revenue season for the entertainment industry and diversity (or the lack there of) is in the spotlight. The New York Times did a long piece on the issue that women face in that industry – their stories sound remarkably similar to what women experience in finance. The full article can be found here: http://www.nytimes.com/2015/11/22/magazine/the-women-of-hollywood-speak-out.html?_r=0

Sandra Bullock’s solution to the gender pay gap is to change the way we view women – when women are viewed as equals, issues like the pay gap will reverse themselves:  http://www.huffingtonpost.com/entry/sandra-bullock-wants-more-than-just-equal-pay-for-women_56434cf4e4b08cda3486ca67And Sharon Stone notes that the gender pay gap is like ‘economic blackmail.’ Women cannot afford to not work, so they are stuck with the situation in order to feed their families: http://www.huffingtonpost.com/entry/sharon-stone-says-the-gender-pay-gap-is-like-economic-blackmail_5640b1fde4b0411d307199e0

A Huffington Post survey illustrates how much of a shift in thinking this change will require – 65% of women don’t think men consider them equals at work.  But then interestingly, 33% of women still don’t think they encounter gender bias at work which is a big part of the issue. Unless we ALL address the elephant in the room, it never goes away. The full article can be found here: http://www.huffingtonpost.com/entry/huffpost-makers-women-workplace-survey_56462843e4b08cda348898de

Although things may be shifting with 1 billion women set to join the global economy over the next decade – this could have more of an impact on GDP growth than the billion plus populations of India and China. Read on: http://impactalpha.com/women-are-hotinvestments/

If the thought of the holidays is leaving you feeling stressed, take time to join us for one of our Holiday Luncheons this December!  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

From CNN this week, another study on the pay gap shows that women make $.74 for every dollar men make even when they have they hold the same job and have the same qualifications. Further, the gap gets bigger the further up the ladder you go, and there is no industry where women earn more than men or a state where women out earn men. The full article can be found here: http://money.cnn.com/2015/11/09/news/economy/male-female-pay-gap-payscale/

Also from CNN, exacerbating the pressure on working women is the fact that in dual income households, women are still responsible for the majority of the housework. Sounds like my home. Read on: http://www.cnn.com/2015/11/04/health/work-life-balance-gender-divide-pew-research-center/

The disconnect is in this aptly titled article: “Men Do More at Home, But Not as Much as They Think.” Meaning, while men are helping much more than their fathers ever did, the imbalance is still causing serious strain on women. The full article can be found here:http://www.nytimes.com/2015/11/12/upshot/men-do-more-at-home-but-not-as-much-as-they-think-they-do.html

Which of course leads to the portrait of the modern family: stressed, tired and rushed. The full article can be found here: http://learning.blogs.nytimes.com/2015/11/06/is-your-family-stressed-tired-and-rushed/

If the thought of the holidays is leaving you feeling stressed, take time to join us for one of our Holiday Luncheons this December!  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

Huge thank you to our committee members for a successful week last week with fundraisers in Dallas and Austin, and our Second Annual C-Suite event in Houston. By all accounts, a good time was had by all, money was raised to support the Young Women’s Preparatory Network, and new connections were made by our members. As you may know, TXWSW is run by a staff of all volunteers, and the Board and I are incredibly grateful to you all sharing your time and talent to bring wonderful programming to our members which enables us to give back to our communities through the support of college preparatory education for underserved girls across the state. So as we begin the countdown to Thanksgiving, I wanted to let you know that I am extremely grateful to those of you who volunteer and all that you do for TXWSW.

From the putting your money where your mouth is file, Salesforce has just spent $3 million bringing their female employees’ salaries to parity with the men. Now how hard was that? Huge kudos to CEO Marc Benioff for tackling the problem head on. The full article can be found here: http://www.huffingtonpost.com/entry/when-a-ceo-actually-cares-about-equality-for-women_563cea46e4b0b24aee4a1a88

In Great Britain, a new study proposed that bonuses for top UK finance executives should be tied to how many women their institutions employ in senior positions. Brilliant idea! The full article can be found here: http://www.wsj.com/articles/new-diversity-plan-paying-bonuses-to-promote-women-1446595203?alg=y

New York State has quietly passed legislation that will make it easier for women to sue for gender discrimination. Many thanks to Akin Gump for letting me share their bulletin: https://www.akingump.com/en/news-insights/new-women-s-equality-act-legislation-raises-bar-for-new-york.html

An article in the New York Times looks at defining diversity in Silicon Valley and on Wall Street where there is very little, and although on the surface, the issue is being addressed, not much has changed. The article sites the difficulty of managing diverse teams as a reason for the lack of progress, and I say back, what worthwhile achievement comes without hard work? The full article can be found here:http://www.nytimes.com/2015/11/05/business/dealbook/defining-diversity-in-silicon-valley-and-on-wall-street.html?_r=0

And lastly, I would like to share with you a D-Magazine article featuring TXWSW’s very own Danielle DiMartino Booth. Danielle was kind enough to be our keynote speaker at our April Speaker/Sponsor breakfast last year and is a voice worth following when it comes to the Fed and monetary policy. Read on:http://www.dmagazine.com/publications/d-ceo/2015/november/danielle-dimartino-boot-dallas-fed

We have a few events left through the end of the year, so register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

I hope you all had a great Halloween and enjoyed the extra hour this weekend! We have 3 great events this week: a Philanthropy Shopping night in Dallas today,  our C-Suite Dinner in Houston with some amazing speakers on Tuesday, and  our Casino Night in Austin that is open to both men and women and is great fun with yummy food and wonderful people!

Please note that if you cannot attend the Dallas shopping night, you can order over the phone with the participating stores and if you mention TXWSW, they will make a donation to our cause! Please contact Heather Sauber at developmentdirector@txwsw.com for details.

The first article is a hugely important one. Titled “Why Women Compete with Each Other,” it goes into some of the biological and evolutionary reasons women compete with one another, but there are damaging consequences for this especially in the workplace. The reason the ‘boys club’ is so named is that men support each other toward a goal of mutual success. When women see each other as competition in the workplace, the results can be devastating and are even more pronounced at the higher levels where there are so few women. The full article can be found here: http://www.nytimes.com/2015/11/01/opinion/sunday/why-women-compete-with-each-other.html

The next article which looks at the diversity issue in both the technology and entertainment industries where the term is so overused that it is becoming meaningless. If we look to our industry, think of the millions of dollars spent over the last decade with very little to show for it in terms of adding women and minorities to the senior ranks, on boards etc. The full article can be found here: http://www.nytimes.com/2015/11/01/magazine/has-diversity-lost-its-meaning.html?_r=0

And finally, with more men taking on household and parenting tasks, friction over the ‘right’ way to do things ensues. Read on: http://www.wsj.com/articles/a-calmer-division-of-labor-at-home-1445970198?alg=y

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including our third annual Coed Boots & Blackjack Casino Night in Austin, our second annual C-Suite Dinner in Houston, a Charity Shopping Night in Dallas, Lunch with Mayor Betsy Price in Fort Worth, and our annual Holiday Luncheons.  Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

 

I hope you all enjoyed the rain this weekend and got a chance for some much needed downtime coming into the holiday season!

The first article, from Bloomberg, shows more damage to women’s wallets from the gender pay gap – apparently the payoff in real dollar terms is higher for women MBA students then for men. The full article can be found here:http://www.bloomberg.com/news/articles/2015-10-20/the-real-cost-of-an-mba-is-different-for-men-and-women

From LinkedIn, attorney Leiza Dolghih wrote a powerful article on how each woman can address the gender pay gap. Bottom line? Studies show that women don’t ask, and in negotiation, if you don’t ask, you won’t ever get.  The good news is that this asking thing also works at home!  The full article can be found here: https://www.linkedin.com/pulse/negotiating-employment-agreements-real-reason-jennifer-dolghih

From Forbes, there is also a great piece written by a woman that elected to forgo having children to pursue the career of her dreams. The full article can be found here: http://www.forbes.com/sites/learnvest/2015/10/23/confessions-of-a-career-woman-why-not-having-kids-was-the-best-decision/

On the topic of getting more women in the boardroom, Fortune did an interview that is worth listening to on the subject:http://fortune.com/video/2015/10/23/women-on-board-2/

And finally, Kevin Powell has written a powerful new book on defining manhood and how we go from the definitions we have now to finding one that is routed in peace, love and healthy definitions of manhood that include seeing women and girls as their equals. This is a very powerful read and if you have time to read only one thing this week, I would ask that this be it:http://www.cnn.com/2015/10/19/living/mens-movement-kevin-powell-feat/

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including our third annual Coed Boots & Blackjack Casino Night in Austin, our second annual C-Suite Dinner in Houston, a Charity Shopping Night in Dallas, Lunch with Mayor Betsy Price in Fort Worth, and our annual Holiday Luncheons.  Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

From AI-CIO Magazine, there was a great article “Lifting the Lid on Asset Management’s Gender Problem,” and it is a worthwhile read especially for allocators. One of Europe’s biggest asset management firms has included diversity statistics in their annual report for the first time. This could be a great addition to DDQs to keep the focus on the issue and encourage transparency. The full article can be found here: http://www.ai-cio.com/channel/Manager-Selection/Lifting-the-Lid-on-Asset-Management-s-Gender-Problem/

From the Harvard Business Review comes an insightful article on the obstacles to adding more women and minorities to management.  A company’s culture is dictated by the group currently in power, and even though change and transformation are the hallmark of successful companies, actually making it happen is a different story. And as we saw with the survey on corporate boards, success in adding diversity comes down to how committed those in power really are to making change. The full article can be found here:  https://hbr.org/2015/10/gender-initiatives-are-culture-change-initiatives

Ruth Porat made news last week by noting that adding women to senior management is not only the right thing to do, but will help companies improve their performance. She says it best and the full article can be found here:http://www.cnet.com/news/google-cfo-hiring-women-is-good-for-business/

And finally, also from HBR, a great article on how to network a conference or any big event. This advice is aimed at the introverts, although I have seen, over the years that women are great at walking into a room full of women, and yet when we are in the minority even the most extroverted of us can feel at a loss as to how to break in. With that in mind, read on:https://hbr.org/2015/10/5-ways-to-make-conference-networking-easier

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including our third annual Coed Boots & Blackjack Casino Night in Austin, our second annual C-Suite Dinner in Houston, a Charity Shopping Night in Dallas, Lunch with Mayor Betsy Price in Fort Worth, and our annual Holiday Luncheons.  Register early to avoid disappointment!

Kind regards

Christine

Happy Monday!

My husband shared the first of today’s articles with me early last week and it is making the rounds of the internet like wildfire with good reason. The title “Letter to the Editor: STEM” is written by an engineering student to his female classmates, and I hope you find it as heartfelt and  touching as I did. The full article can be found here: http://easterneronline.com/36007/letters-to-the-editor/letter-to-the-editor-stem/

It is a common theme that if there is more than enough money to cover expenses for childcare and other helpful things, work/life balance should be a piece of cake. A recent article notes the flaw in that argument, and the title says it all: “Work-Life Balance Poses Challenges Regardless of Wealth.” The full article can be found here:  http://www.nytimes.com/2015/10/10/your-money/work-life-balance-poses-challenges-regardless-of-wealth.html?_r=0

And finally, a recent Pricewaterhousecoopers hits on the real reason diversity on boards is not happening.  “Most of the white men who sit on the boards of the biggest companies in the U.S. don’t think it matters, according to a new survey.” The survey results are eye opening – and it means the solution to the problem cannot rest with the boards themselves. They will need shareholder pressure to finally make real change. The full article can be found here: http://www.huffingtonpost.com/entry/corporate-board-diversity_561510b6e4b0cf9984d7af01

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our third annual (also coed) Boots & Blackjack Casino Night in Austin, our second annual C-Suite Dinner in Houston, a Charity Shopping Night in Dallas, Lunch with Mayor Betsy Price in Fort Worth, and our annual Holiday Luncheons.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

I read a fascinating letter to the editor in response to the Anne Marie Slaughter book review from an HR professional who has been addressing the diversity issue for the last 15 years of her career, and her response to the above question of what is holding women back would be discrimination. So much of the advice in the press today is about what women can do better – and I think constant self-improvement is an admirable goal – but as a society we need to call a spade a spade and start addressing the underlying root cause which is conscious and/or unconscious gender bias.

The WSJ did a whole separate section in the paper this past Wednesday lead by the headline: “What’s Holding Women Back?” The full articles can be found here and there is something for everyone:  http://www.wsj.com/articles/whats-holding-women-back-in-the-workplace-1443600242  “When Women Get Stuck, Corporate America Gets Stuck:” http://www.wsj.com/articles/sheryl-sandberg-when-women-get-stuck-corporate-america-gets-stuck-1443600325  “More Firms Say Targets Are the Key To Diversity:”http://www.wsj.com/articles/more-companies-say-targets-are-the-key-to-diversity-1443600464 “Big Banks Boost Efforts to Recruit and Retain Female Employees:”  http://www.wsj.com/articles/big-u-s-banks-boost-efforts-to-recruit-retain-female-employees-1443600926

“ How to Get More Women in the Workforce:” http://www.wsj.com/articles/how-to-get-more-women-into-the-workforce-1443600975  “A Racial Gap in Mentoring at Work:” http://www.wsj.com/articles/a-racial-gap-in-mentoring-at-work-1443600872  “Gender Bias at Work Turns Up in Feedback:” http://www.wsj.com/articles/gender-bias-at-work-turns-up-in-feedback-1443600759  “In Two Career Marriages, Women Still Do More of the Work at Home:” http://www.wsj.com/articles/in-two-career-marriages-women-still-do-more-of-the-work-at-home-1443600654

And lastly, “Networking Isn’t Easy for Women, but it is Crucial:” http://www.wsj.com/articles/networking-isnt-easy-for-women-but-it-is-crucial-1443600526

And the question is, why should we care about any of this – women just want equal pay – so what? Life is not fair, so deal with it. Or not. Right now with Canada, Russia, Japan and Brazil in recession, global GDP growth is zero. And in the US, while GDP growth is positive, it is below normal levels. So where will growth come from? According to a McKinsey study, “gender equality would boost global GDP by $28 trillion.” The full article can be found here:  http://www.dallasnews.com/business/personal-finance/headlines/20150930-mckinsey-says-gender-equality-would-boost-global-gdp-by-28-trillion.ece  Seems like perfect timing to address this issue to me.

A man’s take on the McKinsey study: 88% of men think that women have just as many opportunities as they do which is one of the reason gender discrimination still exists. Adam Grant’s article shares his perspective: “Dear Men, Wake Up and Smell the Inequality.” http://www.huffingtonpost.com/adam-grant/dear-men-wake-up-and-smel_b_8226496.html

And finally, the Harvard Business Review asks the burning question: “Why do so many incompetent men become leaders?” The full article can be found here: https://hbr.org/2013/08/why-do-so-many-incompetent-men

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our third annual (also coed) Boots & Blackjack Casino Night in Austin, our second annual C-Suite Dinner in Houston, a Charity Shopping Night in Dallas, Lunch with Mayor Betsy Price in Fort Worth, and our annual Holiday Luncheons.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

I often post articles written by Anne Marie Slaughter, and finally, her new book is available. If you don’t have time for the whole book, the NY Times did a great review in the ‘Books’ section that gives you the cliff notes version. Essentially, Ms. Slaughter’s view is that as a society we need to take a hard look at how we are treating women in the workplace and changes are essential if we don’t want 50% of the talent sidelined or marginalized. I think this becomes more of an issue in the future as it has been years since women have been earning more degrees and advanced degrees than men, and our economy literally cannot afford to push these women out of the workplace. If you have doubts, look at Japan. The full article can be found here: http://www.nytimes.com/2015/09/27/books/review/anne-marie-slaughters-unfinished-business-women-men-work-family.html

While we are on the subject of Anne Marie Slaughter, she did a great piece detailing the great divide in workplace benefits. On the one hand companies are lavishing generous perks like flying nannies and at the other end of the spectrum; parents are getting their work hours the week before making it almost impossible to arrange for child care. The full article can be found here: http://www.nytimes.com/2015/09/24/upshot/the-great-divide-in-workplace-benefits.html?smid=nytcore-ipad-share&smprod=nytcore-ipad&_r=0

The title of the next article says it all: “To Get a Job in Your 50s, Maintain Friendships in Your 40s.” I think you can substitute out the ages and the validity of the statement still stands. Those with the biggest networks have the most opportunity, and as we age, those relationships are even more important. The full article can be found here: http://www.nytimes.com/2015/09/27/business/to-get-a-job-in-your-50s-maintain-friendships-in-your-40s.html

And lastly, one of my favorites of the week – “How Not to Be a Networking Leech.” This article gives point by point instruction on the right way to network and is especially pertinent to job seekers. In my role, I network a lot and while some of the items pointed out can sound like common sense knowledge, I can tell you first hand, they are not. This is a must read: http://www.nytimes.com/2015/09/27/jobs/how-not-to-be-a-networking-leech-tips-for-seeking-professional-advice.html

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston & Dallas, Lunch with Mayor Betsy Price in Fort Worth, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

To start with, we have two items from the career advice file. The first article, ‘How to Network a Party’ provides practical tips on working a room including identifying groups and individuals that will be open to conversation. Considering we have over 100 people registered for our Dallas event this week, this is timely reading. The full article can be found here: http://www.wsj.com/articles/the-smartest-ways-to-network-at-a-party-1442249499

One of the things women get a bad rep for is crying in the office. We all know that tears can come bottled up frustration, so instead of bottling up those emotions, a recent study shows that displaying anger can actually be a more effective negotiating tool. The full article can be found here:http://www.nytimes.com/2015/09/20/opinion/sunday/the-rationality-of-rage.html?_r=0

It is that time of year again, and I am pleased to share KPMG’s annual Women in Alts survey. Kudos to them for undertaking this important project each year. The full report can be found here: http://www.kpmginfo.com/alts/

The upshot of this year’s report is that despite some handy outperformance, female hedge fund managers have trouble attracting assets which hardly sounds like rational behavior to me. The full article can be found here:  http://www.ai-cio.com/channel/NEWSMAKERS/Women-in-Alts-Find-No-Favor-Despite-High-Performance/

Another discrimination lawsuit was filed last week against a big bank. You can read the full account here:http://www.bloomberg.com/news/articles/2015-09-15/jefferies-sued-over-office-culture-that-made-women-sex-objects-

And lastly, Anne-Marie Slaughter excerpted her new book in the New York Times this weekend focusing on the toxic work environment at US companies. She notes that even though women are earning more degrees and advanced degrees and start out as 50% of the workforce after school that number drops to 10-20% in senior management. And this issue is not just about advancement for women, Ms. Slaughter notes “When an abundance of overly rigid workplaces causes 42 million American citizens to live day to day in fear that just one single setback will prevent them from being able to care for their children, it’s not their problem, but ours.” This article is a must read: http://www.nytimes.com/2015/09/20/opinion/sunday/a-toxic-work-world.html

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, Lunch with Mayor Betsy Price in Fort Worth, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

Sometimes it can feel that working in finance as a woman is an uphill battle and the numbers show that many women feel that is an undue burden and opt out. It gives me strength to  check in on how women are faring across the board and in other industries – there was a great article by a woman surgeon on making her way in a man’s world that sounds awfully familiar: http://www.huffingtonpost.com/niamey-wilson/the-secret-world-of-women-surgeons_b_8110786.html   And a great article on the state of women on television:http://www.nytimes.com/2015/09/13/opinion/sunday/the-golden-age-for-women-in-tv-is-actually-a-rerun.html?_r=0

And maybe this should come as no surprise as the World Bank issued a recent report that shows that most nations hinder women by putting restrictions on them: http://www.nytimes.com/2015/09/10/world/report-finds-most-nations-hinder-women.html

One side effect of the ongoing wage gap is the fact that it will have dangerous implications for millions of women as they reach retirement age and the effects that will have on our economy. The full article can be found here: http://www.cnbc.com/2015/09/03/whats-worse-than-the-gender-wage-gap-the-wealth-gap.html

As daunting as all this sounds, there are very important reasons why women need to stay in as detailed in Kevin Daum’s article – “7 Reasons Women Executives Make Better Leaders” The full article can be found here: http://www.inc.com/kevin-daum/7-reasons-women-executives-make-better-leaders.html

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, Lunch with Mayor Betsy Price in Fort Worth, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Tuesday!

One of the consequences of the shift in seeing our jobs as a transaction and moving from one to the next to secure advancement is that we have a tendency to form less friendships at work which presents an issue in that the workplace used to be a major source of our friendships. And having these work-based friendships was a benefit to both the company and worker. Not having close social connections can impact communication and worker effectiveness, so if you don’t have close friendships at work, it is even more important to build a professional network outside of work to provide the support and friendship we all need. The full article can be found here:http://www.nytimes.com/2015/09/06/opinion/sunday/adam-grant-friends-at-work-not-so-much.html?_r=0

Studies have shown that when we are in a stressful environment, our bodies react to that stress even if the situation causing the stress does not directly impact us. In a recent Harvard Business Review article, they detail the steps we can take to immunize ourselves from that. The full article can be found here: https://hbr.org/2015/09/make-yourself-immune-to-secondhand-stress

Recently there have been many high profile announcements about more generous family leave policies. The issue of course is that do new parents actually feel comfortable taking that leave or will they be relegated to the parent-track that will slow their advancement? Claire Cain Mitchell explores the issue in a recent article: http://www.nytimes.com/2015/09/02/upshot/big-leaps-for-parental-leave-if-workers-actually-follow-through.html

And lastly, sometimes a father is the one that steps back from work and becomes the primary caregiver. The issues they face are detailed in a recent article that can be found here: http://www.wsj.com/articles/dealing-with-the-daddy-track-men-face-challenges-going-part-time-1441099800

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, Lunch with Mayor Betsy Price in Fort Worth, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

There was a great opinion piece last week commenting on the lavish perks that working moms are being offered that highlighted the fundamental disconnect between  the 80% of business leaders who are men and the majority of married workers who are from dual income households. A Harvard study noted that 60 percent of the men have spouses who don’t work full-time outside the home, compared with only 10 percent of the women. This disconnect puts real pressure on the women who are trying to work their way to the C-Suite – the full article can be found here: http://www.nytimes.com/2015/08/24/opinion/the-workplace-culture-that-flying-nannies-wont-fix.html?_r=0

And it seems as if parent’s math anxiety can be passed along to their children: http://well.blogs.nytimes.com/2015/08/24/square-root-of-kids-math-anxiety-their-parents-help/  Time for a tutor?

Much of the research has shown that diversity numbers have barely budged over the years – growth in the number of women and minorities in senior roles and on boards has barely changed and a new survey from Bloomberg shows an alarming trend.  The number of women in management roles increased to 38.6% in 2013 up from37.5% in 2008. Disturbingly, while women made slight gains, representation by African Americans and Hispanics declined. The upshot of the report? “Barriers to entry may still exist.’ May indeed…..   http://www.bloomberg.com/news/articles/2015-08-24/women-management-ranks-grow-as-african-americans-decline

From the Harvard Business Review, a recent study showed that women executives receive less stock compensation than men – without that component of incentive pay, achieving pay parity will be an unattainable goal: https://hbr.org/2015/08/female-ceos-find-stock-based-pay-harder-to-get-easier-to-lose

And finally, the debate about adding women to management often hinges on their ‘commitment’ and availability – a new Harvard Business Review study notes that ‘long hours backfire for both people and companies.’ https://hbr.org/2015/08/the-research-is-clear-long-hours-backfire-for-people-and-for-companies

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

To begin with, outside the world of finance, last week 2 women graduated from Army Ranger School. This is significant because all of the Army generals in history have had combat experience and these women have demonstrated that they were strong and tough enough to get through the army’s toughest combat training paving the way for promotions for themselves to the highest levels of service. Kudos to them:  http://www.wsj.com/articles/first-female-soldiers-to-graduate-from-armys-ranger-school-1439920871

There is also a call for a woman to lead the UN for the first time in its 70 year history. There are some that say that if the first woman who comes in does a less than stellar job it will reflect poorly on women and keep them from getting the post in the future. My response to that is that men have had 70 years – some with good records and some with less than good ones, so why don’t women have the same opportunity? The full article can be found here: http://www.nytimes.com/2015/08/23/world/after-70-years-of-men-some-say-it-is-high-time-a-woman-led-the-un.html?_r=0

From the more good news front, although the rate of new business starts has slowed, the share of women-owned businesses has increased: http://www.wsj.com/articles/women-make-strides-in-business-ownership-1440028664

A great commentary from Fay Vincent who was former CEO of Columbia Pictures and commissioner of Major League Baseball on the importance of both having a being a mentor. The title says it all: ‘We All Need A Few Good Mentors’http://www.wsj.com/articles/we-all-need-a-few-good-mentors-1439764859

And lastly, while much of the news focuses on kinder more evolved policies like paid travel for nannies, competition for the top ranks at the top companies is nothing short of brutal: http://www.nytimes.com/2015/08/18/business/work-policies-may-be-kinder-but-brutal-competition-isnt.html?_r=0

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

As you may be aware, the headlines last week included the fact that public companies will need to begin disclosing the pay gap between CEOs and workers. An additional suggestion was to also make companies disclose their gender pay gap. It has been suggested that disclosing that gap would be much cheaper than the billions spent on training employees to spot unconscious bias and other discriminatory practices. The full article can be found here: http://www.nytimes.com/2015/08/13/opinion/lets-expose-the-gender-pay-gap.html?_r=0

Kudos to KKR for taking their commitment to diversity seriously. Not only have they extended parental leave for men and women, they have added the perk of paying a child and their caregiver to accompany the parent on work trips. The full article can be found here: http://www.bloomberg.com/news/articles/2015-08-13/wall-street-s-gilded-maternity-perk-flying-nannies

And lastly, there was a great read in the Harvard Business Journal documenting the loss to productivity when companies view male management styles as superior and ignore the strengths women bring to the table – this will be especially problematic as women have been receiving the majority of undergraduate and graduate degrees for years, and this bias will shrink the talent pool for companies who do not adapt. The full article can be found here: https://hbr.org/2015/07/to-hold-women-back-keep-treating-them-like-men

Huge thanks to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

The first article of the week is short and sweet – the advice in  ‘How to Project Power’ are  similar to the instruction given at Tonja O’Neil’s Speaking without Fear class we held in Austin last month. It is fascinating how just a few small shifts in body language can make a difference. The full article can be found here: http://www.nytimes.com/2015/08/09/magazine/how-to-project-power.html?_r=0

It is official – having a child really does make you better at your job. Far from worrying that having a child can derail your career, the evidence is in, and having a child not only enhances women’s time management skills, it also ups their ambition: http://nymag.com/thecut/2015/07/having-babies-makes-you-better-at-work.html

Many of you know that Chief Investment Officer Magazine reports regularly on the lack of women in asset management. This past week, they did a great interview Cathy Hepworth of Prudential exploring her journey and sharing her advice for young women entering the field: http://www.ai-cio.com/thought-leadership/RoundTableStory.aspx?id=2147492576

And an article on the plight of older women in the workforce – Lisa Miller recounts that although the gender pay gap is $.77, for women in their late 40’s and 50’s that gap is $.55 which is why so many older women drop out of the bigger companies and work for themselves. Ms. Miller makes the point that without all these missing women, it makes it that much harder for companies to attract and retain younger women because they don’t see themselves reflected in the middle and senior management of those companies.  So for companies committed to diversity, one place to start may be adding older women to their teams. The title of the article ‘Why We Need Older Women in the Workforce’ says it all. The full article can be found here: http://nymag.com/thecut/2015/08/why-we-need-older-women-in-the-workplace.html

And lastly, a great piece by Dominique Browning in the New York Times this weekend – the title, ‘I’m Too Old for This” could be retitled as I’m too wise or too smart and taken on by we women who are not yet 60 – the wisdom in what she is saying is spot on and an attitude that we would all benefit from adopting earlier in life. The full article can be found here: http://www.nytimes.com/2015/08/09/fashion/im-too-old-for-this.html

Huge kudos to our committee members for arranging a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

The first article touches on a current cultural phenomenon of ‘bitchy resting face’ which is the label given to women when they are photographed without a smile on their face. I did a quick perusal of Fortune, Forbes and Bloomberg, and photos of men with the same expression on their faces would be classified as serious, and certainly never bitchy. Double standard anyone? The full article can be found here: http://www.nytimes.com/2015/08/02/fashion/im-not-mad-thats-just-my-resting-b-face.html

The next article debunks the myth that it is lonely at the top. Apparently studies have shown that “power enhances power-holders’ beliefs that they control their own fatesbuffers them from stress and creates the perception that others are consistently “in their corner.” The full article can be found here: http://www.nytimes.com/2015/07/26/opinion/not-lonely-at-the-top.html

An article in Investment News explores why mixed gender teams produce better outcomes for investors:http://www.investmentnews.com/article/20150728/BLOG09/150729878/why-gender-diversity-means-better-outcomes-for-investors

And lastly, from Institutional Investor, a piece on the 5 ways to bridge the gender gap in hedge funds:http://www.institutionalinvestor.com/inside-edge/3474273/women-in-hedge-funds-5-ways-to-bridge-the-gender-gap.html#.Vb-cy_kw8g4

We have a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

I often talk about how important it is to build your network, and as we all know the best way to do that is to get out there and meet people by attending events. But walking into a room full of strangers can be intimidating to say the least. There was a great article in Fortune this week from a networking pro sharing her tips on how to work a room: http://fortune.com/2015/07/26/carol-leaman-networking/

One more great article on networking – the author, Henna Inam, shares her tips for networking authentically as a woman:http://www.forbes.com/sites/hennainam/2015/07/14/how-women-can-succeed-by-networking-authentically/

A recent survey found that more Millennial women planned to take career pauses when they had children – they planned to find roles that would allow them more flexibility and less travel time while their children were young. It is a new approach to an ongoing problem. The full article can be found here: http://www.nytimes.com/2015/07/23/upshot/more-than-their-mothers-young-women-plan-career-pauses.html?_r=0&abt=0002&abg=0

For the next article, the title says it all – “Ambitious Women Deserve our Praise, Not Our Disdain. The full article can be found here:http://www.forbes.com/sites/bonniemarcus/2015/07/27/ambitious-women-deserve-our-praise-not-our-disdain/

And a survey by PwC found that young women are dropping out of the financial services industry because they do not see enough opportunity. The insurance industry is widely viewed as the most closed to women, and asset management is seen as more women-friendly because there are more female role models: http://www.forbes.com/sites/karenhigginbottom/2015/07/21/young-women-leaving-financial-services-due-to-limited-career-opportunities/

We have a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

We often attribute unconscious bias to beliefs people have that shape their worldview and their actions. There is also a widespread belief that software and algorithms that rely on data are free from unconscious bias, however, recent research suggests that that is NOT the case – but software is not free from human influence and algorithms can actually reinforce human prejudices. The full article can be found here: http://www.nytimes.com/2015/07/10/upshot/when-algorithms-discriminate.html?_r=0&abt=0002&abg=0

Fortune Magazine published a recent survey that found that less than half of women of color believe they have a fair chance to advance at work. When I really let that statement sink in, it was a profoundly sad statement that so many of our sisters feel that much discrimination at work – a really heartbreaking statistic. One of my mentors once shared with me that the reason gender discrimination is such a persistent problem is that women come in all shapes, sizes and colors so it is easy for women to forget our similarities and focus on our differences – and if a woman is saying negative things about another woman, then it opens the door for men to do it as well, and voila, we have a cycle that is hard to break. I would ask each of you when you are taking time to mentor other women or building your network of professionals to take this article to heart and be part of the solution: http://fortune.com/2015/07/17/survey-less-than-half-of-women-of-color-say-they-have-a-fair-chance-to-advance-at-work/

Our last article was shared by one of our Houston members – many of you know Alexandra Pruner of Tudor Pickering. Her daughter, Dagney Pruner wrote a heartfelt and compelling article ‘In defense of mothers who work full time, from one CFO’s daughter.’ It makes for inspiring reading: http://www.libertyproject.com/love/defense-mothers-who-work-full-time-one-cfos-daught/  I talk to so many women who feel guilty about the time they spend at work – this is a must read from a child’s mouth that her daughter sees her as an inspiration and a role model for living her life on her own terms.

We have a terrific line up of events for the Fall including a coed cocktail party and brewery tour in Dallas, our second annual Charity Shopping Night in Houston, and a Holiday Luncheon in Austin.  Register early to avoid disappointment!

 

Kind regards

 

Christine

 

Happy Monday!

To start out your morning on an uplifting note, Always has done a follow-up video to their ‘Like a Girl’ commercial that is immensely powerful – get your box out, write down what is holding you back and break through it and then share this with every girl and woman you know!: http://www.huffingtonpost.com/2015/07/07/young-women-destroy-barriers-like-a-girl-always_n_7738800.html

Next, the Wall Street Journal shared an article with the statistics on how few female fund managers are running mutual funds. It turns out a woman running a mutual fund on her own is a rarity, more often she is part of a team and over 77% of mutual funds are run by men alone: http://www.wsj.com/articles/SB11670627175020993366304581066292742744646

And a take on the reasons why there are so few women in the pipeline from ACIO Magazine, to quote “State Street’s Duncan says the gender disparity in today’s asset management industry is no longer a “leaky pipeline” problem. That theory is, in fact, an excuse. Instead of the discrimination and lack of interest that existed decades ago, she says the problem today is in unconscious biases that falsely claim women are inferior investors. The industry needs a disruption of these stereotypes—and the conviction to change the culture.” The full article can be found here: http://www.ai-cio.com/channel/NEWSMAKERS/For-Female-Advancement,-Lunch-Won-t-Cut-It/?p=1  and one more – the title says it all:http://www.ai-cio.com/channel/RISK-MANAGEMENT/Diversity-in-Finance–Hope-over-Action-/

Lastly, from the ‘fixing unconscious bias file’ designer Caitlin Winner gave the Facebook icons a much needed makeover – her story can be found here: http://www.womenyoushouldknow.net/designer-caitlin-winner-on-why-she-gave-facebooks-icons-a-much-needed-gender-makeover/

We have a terrific line up of events for the summer months. Don’t forget we take August off, so sign up now for June and July.  Register early to avoid disappointment!

 

Kind regards

 

Christine

 

Happy Monday!

I hope you all enjoyed the July 4th weekend – it seems there were a lot of fireworks around the world including Greece’s historic ‘no’ vote and the US Women winning the World Cup.  With all this going on keeping you busy, I will keep today’s letter short and sweet.

From Bloomberg, an article noting that Wall Street’s big banks say all the right things about promoting women, however, the numbers tell a very different story:  http://www.bloomberg.com/news/articles/2015-06-26/one-of-these-women-may-win-the-struggle-to-run-wall-street-firm

And Liz Dolan earns a GOLD STAR for sharing what happens when a token woman is added to the board of a public company and is the victim of bias – she resigned her board seat after 8 months so she could share this cautionary tale with the world. This is her story: http://fortune.com/2015/06/15/liz-dolan-quiksilver-board/  Another take on it:http://www.huffingtonpost.com/2015/07/02/liz-dolan-women-boardroom_n_7707384.html

Lastly, we have all read that women underestimate their skills and do not put themselves forward for promotions unless they are sure they can do the job. Men are more likely to apply for jobs that they believe they can grow into. Apparently the same thing is true for math skills and it starts at an early age. This may help explain the gender imbalance in math related fields: http://www.huffingtonpost.com/2015/06/25/stem-men-women-gender-gap_n_7654422.html

We have a terrific line up of events for the summer months. Don’t forget we take August off, so sign up now for June and July.  Register early to avoid disappointment!

 

Kind regards

 

Christine

Congratulations to the Class of 2015!

With pomp and circumstance, the Young Women’s Preparatory Network Class of 2015 proudly walked the stage and accepted their high school diplomas. Cumulatively, there were 247 graduates from our schools in Austin, Dallas, Houston, Lubbock, and San Antonio, 68% of whom will be first-generation college attendees. We are proud to announce that 100% of the graduates have been accepted to college!  In the fall, they will be attending 87 different school across the nation, with 27% going out of state! To date, they have received offers of almost $28M in academic and merit scholarships. We could not be more proud of our young women. 
Ann Richards School for Young Women Leaders
Austin

The Class of 2015 is the school’s third graduating class. The 85 graduates have received offers of over $10.2M in academic and merit scholarships. This fall, ARS graduates will be on campuses, such as Princeton, Northwestern, Texas A&M, Stanford, and the University of Texas at Austin. This year, the Ann Richards School was recognized as the 24th Best High school in Texas by the US News and World Report and the 19th Most Challenging High School in the Nation by the Washington Post.

Irma Rangel Young Women’s Leadership School
Dallas

The 59 members of the Class of 2015 have received offers of over $9M in academic and merit scholarships. This year 85% of the graduates are first-generation college attendees. The girls plan on attending colleges across the U.S. including Wellesley, Notre Dame, USC, Texas A&M, Austin College, and Iowa State. In 2015, the Irma Rangel School was recognized as the 12thBest High School in Texas, 21st Best Magnet School in the Nation and 75th Best High School in the Nation by US News and World Report. The school was also recognized by the Washington Post as the 15th Most Challenging High School in the Nation. 
Young Women’s College Preparatory Academy
Houston

Opened in 2011, the school’s FIRST class of seniors graduated in June 2015! The 44 graduates have received academic and merit scholarship offers of $3M. Students will attend prestigious colleges, such as Pitzer College, Georgetown University, and the University of Virginia, with several girls receiving fully-funded, room/board, tuition, and fees to their respective institutions. The inaugural graduating class has certainly set the bar high for subsequent classes!

Click the link below for news coverage of the Class of 2015:  
Young Women’s  College Preparatory Academy, Houston
Talkington School for Young Women Leaders 
Lubbock

The Class of 2015 is the second graduating class of the Talkington School for Young Women Leaders. This year, the girls certainly lived up to the school’s motto, “Reject Average & Embrace Excellence.”  The 31 graduates have received offers of $1.7M in academic and merit scholarships. That is an average of $55,000 per graduate! This fall, the girls will attend esteemed institutions,such as Austin College, Texas Tech, Georgia State, and the University of Houston. In 2015, the school was recognized as the 13th Most Challenging High School in the Nation by the Washington Post.

Click the link below for news coverage of the Class of 2015:  

Talkington School for Young Women Leaders, Lubbock
Young Women’s Leadership Academy
San Antonio

This year, 28 young ladies are members of the Class of 2015, the school’s second graduating class. Combined, these outstanding graduates have received offers of $4M in academic and merit scholarships. The girls will walk the halls on campuses, such as the University of Rochester, Georgetown, Texas A&M, Texas Woman’s University, St. Mary’s and Arizona State. The YWLA was recently recognized as the 27th Most Challenging High School in the Nation by the Washington Post and the #1 Middle School in San Antonio by Children at Risk.

It is clear that our model works, changing the lives of these girls and their families. The Class of 2015 is on a path to a brighter future through education. Thank you for being a part of their journey!

Happy Monday!

Firstly, congratulations to TXWSW’s very own Danielle DiMartino-Booth on her new role at the Liscio Report. After 8 years at the Dallas Fed working for Richard Fisher, we now get to read her commentary before it is a year old. I am pleased to share her piece entitled The Sin of Commission here: http://tlrii.typepad.com/theliscioreport/2015/06/the-sin-of-commission.html

Kudos to NYC Comptroller Scott Stringer for implementing an innovative tool in the evaluation of their external money managers to focus on the amount of diversity a manager brings to the table. To quote: Diversity is not merely a social value, it has strong economic value for our investments,” Mr. Stringer said in a news release. “We want the companies in which we invest to harness the economic and financial benefits of diversity. Now we’re going to ask the people who help us choose where to invest our money to show us that they walk the talk when it comes to diversity.” The full article can be found here:http://www.pionline.com/article/20150501/ONLINE/150509994/nyc-comptroller-rolls-out-diversity-initiative-for-evaluating-managers

A thump on the head to Silicon Valley – in spite of their commitment to increased diversity, little progress has been made. More sound and fury: http://bits.blogs.nytimes.com/2015/06/28/new-diversity-reports-show-the-same-old-results/?_r=0

And an editorial from Pensions & Investments on why investors should push companies to do something about board diversity before it becomes a government mandate: http://www.pionline.com/article/20150518/PRINT/305189999/the-dividends-of-diversity

Lastly, a great article whose title says it all: ‘Why Women Apologize and Should Stop.’ After I read the article, I had to communicate with someone who had let me down on a deliverable, and my first instinct would have been to include an apology even though this person was in the wrong. The article’s advice of drop the apology and focus instead on the message was a very powerful one and got the results I needed. This is a worthwhile read:http://www.nytimes.com/2015/06/23/opinion/when-an-apology-is-anything-but.html

We have a terrific line up of events for the summer months. Don’t forget we take August off, so sign up now for June and July.  Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

The article focus is on working moms this week. The first one is a report from CNN on a Harvard Study that showed that children of working moms are actually better off – the daughters of working moms were more successful themselves in the workplace, and sons are more likely to contribute to child rearing and household chores – a win/win for families everywhere! The full article can be found here: http://money.cnn.com/2015/06/15/news/economy/working-moms-kids-better-off-harvard-study/

An article in the Wall Street Journal by the author of the book “I Know How She Does It” recounts how her review of the schedules of over 100 working moms making over $100,000 per year illustrated that these women DID feel like there was enough time. It was all about prioritizing and delegating. The full article can be found here:http://www.wsj.com/articles/working-mothers-who-make-it-all-work-1434712370

And to switch topics, there was a great article that detailed what it was like to be the ‘girl’ in the lab. Science, like finance is a very male dominated field, and like finance, having a good mentor is critical to success which makes this an interesting read: http://www.nytimes.com/2015/06/18/opinion/what-its-like-as-a-girl-in-the-lab.html

And a reminder as to why women’s opinions are an important addition, this article in Institutional Investor profiles United Technologies CIO Robin Diamonte. Conventional wisdom has most of the industry throwing in the towel on DB plans while this CIO is fighting for them and retirement income security. The full article can be found here:http://www.institutionalinvestor.com/article/3403693/investors-pensions/united-technologies-cio-is-changing-the-retirement-game.html#.VYcYgkYw8g4

And lastly, from the NY Times, an article on the importance of ‘niceness’ at work – the bottom line is that when we are rude at work, it hurts profits, health and happiness. The full article can be found here:http://www.nytimes.com/2015/06/21/opinion/sunday/is-your-boss-mean.html?_r=0

We have a terrific line up of events for the summer months. Don’t forget we take August off, so sign up now for June and July.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

I had a fascinating discussion this past week with a very senior woman in the energy industry. This woman is a geologist by training and has been in the oil and gas industry for the past 36 years, as she puts it, ‘her career has progressed from the subterranean on up.’ The energy industry, like finance is heavily male-dominated and she shared with me some fascinating insights gleaned over the years. When she was COO of a Canadian oil company, the company and the industry in Canada had more women applying for work and trying to climb the corporate ladder, but post her retirement with a dearth of women in senior management behind her, the pipeline of women has fizzled out which is why she was a keynote speaker at the Kayo Energy Conference for Women in Houston this past week – she wanted to share her story and inspire other women to follow in her footsteps.

One of the things she mentioned to me had a lasting impact – she called it the ‘drawbridge effect.’ During her career, she noted that she observed that when many senior women had made it to the top they turned a blind eye to the women behind them trying to mimic her success. She said that one of her guiding principles through her very successful career has been to turn around and reach out a helping hand to the women trying to climb the ladder behind her. Success begets success and when we pay it forward everyone succeeds. I will ask each of you to keep that in mind during your workday – was there someone you could have helped along the way?

One good article from Fortune this week on the path to getting more women on corporate boards and the title says it all. The full article can be found here: http://fortune.com/2015/06/15/women-corporate-boards-men/

We have a terrific line up of events for the summer months. Don’t forget we take August off, so sign up now for June and July.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

The first article, from CIO Magazine addresses gender bias in Asset Management and draws on a study from State Street that finds that gender bias is alive and well in the industry, and a profound cultural shift will be needed to correct the gender imbalance in the business.  “The DNA of portfolio management lies in diversification,” Suzanne Duncan, global head of research for State Street’s Center for Applied Research, told CIO. “Yet, the industry has yet to apply this very idea to the management of talent. And talent is really the bread and butter of the business.” The full article can be found here: http://www.ai-cio.com/channel/Manager-Selection/Breaking-the–Optical-Illusion–of-Asset-Management-s-Gender-Biases/  And the full State Street Study may be found here:http://www.statestreet.com/ideas/articles/addressing-gender-folklore.html

Then two articles from the New York Times. The first – “Our Problem with Powerful Women” explores the path to power roles in the US for women, whether it is in politics or a C-Suite job in the corporate world and the obstacles women still face trying to poke a hole in the glass ceiling to pull themselves through:http://www.nytimes.com/2015/06/05/opinion/our-problem-with-powerful-women.html?_r=0

And lastly, a fascinating article about how the term ‘women’ became an exclusionary one (if we are 51% of the population, how can it be exclusionary) and also explores the unique journey that women face as a gender growing up: http://www.nytimes.com/2015/06/07/opinion/sunday/what-makes-a-woman.html

We have a terrific line up of events for the summer months. Don’t forget we take August off, so sign up now for June and July.  Register early to avoid disappointment!

Kind regards

 

Christine

Happy Monday!

One of the barriers to diversity has been an emphasis in the US on ‘cultural fit’ or the idea that the “best employees are like-minded.” Taken to the extreme the emphasis on cultural fit can run amok and be a factor more heavily weighted than even their skills. The full article can be found here: http://www.nytimes.com/2015/05/31/opinion/sunday/guess-who-doesnt-fit-in-at-work.html

A lack of family-friendly policies in the US is often cited as the biggest obstacle to women climbing the corporate ladder. New research shows that the round-the clock work schedules especially in higher paid fields like finance “lock gender inequality in place because the work-family balance is seen primarily as a woman’s problem.” Neither men or women like the pressure of a 24/7 work life, but men have more leeway in dealing with it. “When a man left at 5 p.m., people at the office assumed he was meeting a client, Ms. Reid said. When a woman left, they assumed she was going home to her children. Underlying this disparity are deep-seated cultural expectations about how men and women should act.”  The full article can be found here: http://www.nytimes.com/2015/05/31/upshot/the-24-7-work-cultures-toll-on-families-and-gender-equality.html?ref=topics&_r=0&abt=0002&abg=0

For those of you looking to start your own company, some great advice on how to get women from venture capitalists – one woman’s journey: the full article can be found here: http://www.inc.com/magazine/201505/helaine-olen/how-to-join-the-venture-backed-fraternity.html

And lastly, for all of us who are fed up with attending event with all male panel line-ups – now there is something you can do about it! Several bloggers have set up websites to call those conference organizers out. How can you help? Just share the details! The full article can be found here: http://www.bbc.com/news/blogs-trending-32789580

We have a terrific line up of events for the summer months. Don’t forget we take August off, so sign up now for June and July.  Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

One of the reasons cited for women’s lack of success in the workplace is their confidence levels. A new survey from Bloomberg suggests that women actually have reasons to be less confident – and that their attitudes reflect reality not a lack of confidence. An excerpt from the article: “A number of studies support Beninger’s viewpoint. Last year, we analyzed Bloomberg data and found that, even when they have similar levels of experience and similar educations, women with MBAs are paid less than men. Women also have a harder time than men finding a sponsor, a key figure who can act as an advocate for them in the workplace; are disliked as bosses by both men and women; and are more often penalized for trying to negotiate compensation.” The full article can be found here: http://www.bloomberg.com/news/articles/2015-05-22/the-real-reason-men-are-more-confident-than-women-about-getting-jobs

The next article is from CNN on the bias that women on Capitol Hill face. According to the articles, there are unofficial policies in place to keep female staffers from spending time alone with their male bosses. Policies like these cast women in the role of temptress, masking it as a protective measure while placing the blame squarely with the women. It also reduces a woman’s career mobility if certain high level jobs are off limits. The full article can be found here:http://www.cnn.com/2015/05/18/opinions/drexler-women-on-capitol-hill/index.html

And lastly, there was a great article on ‘shoe gate’ aptly titled “Shoes That Put Women in Their Place.” In case you missed it last week, several women were barred from a Cannes film festival event for (horrors) wearing flats. High heels have become synonymous with female beauty and power, and yet beginning in the 18th century, for men, wearing heels was a sign of frivolity and less than rational thought. High heels were thought to be frivolous and better suited to women who were unfit for both education and citizenship. High heels were, however, linked to sex appeal and were the (only) featured clothing in 19th century pornography and on the pin-up girls of the 20th century.  In the 1980’s as more women entered the workforce, high heels were seen as part of a woman’s ‘power tools’ linking sex appeal to a woman’s professional power – the issue with this of course is that if one’s perceived power is linked to a woman’s sexual allure, the shelf life can be rather short. The article suggests that for the 21st century, “it should be clear that a woman’s power has nothing to do with her heel height.” The full article can be found here: http://www.nytimes.com/2015/05/24/opinion/sunday/shoes-that-put-women-in-their-place.html?_r=0

We have a terrific line up of events for the summer months. Don’t forget we take August off, so sign up now for June and July.  Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

The big news last week was the fact that the City of Austin Manager’s office believed that with the incoming City Council being made up of a majority of women meant that special training was needed to deal with this majority of women.  They hired a former city manager from Florida whose qualifications included the fact that he had worked with a majority women city council in the past and has an 11 year old daughter. The points he made – women ask more questions and don’t listen to financial arguments. Horrifyingly the audience that was subjected to this training also included a majority of women. The full article can be found here and there are a ton of u-tube videos out there as well:http://www.washingtonpost.com/news/morning-mix/wp/2015/05/14/austin-greets-first-majority-female-city-council-session-with-special-training-on-dealing-with-women/

On a positive note, studies have shown that having a working mother has educational, economic and social benefits for children. The full article can be found here: http://www.nytimes.com/2015/05/17/upshot/mounting-evidence-of-some-advantages-for-children-of-working-mothers.html?_r=0&abt=0002&abg=0

Which leads me to a fascinating article on upper East Side stay-at- home moms who have advanced degrees, engage in ‘intensive mothering,’ and get year- end bonuses from their husbands based on their performance. Makes having a full time job sound less complicated and more enjoyable than dealing with this minefield: http://www.nytimes.com/2015/05/17/opinion/sunday/poor-little-rich-women.html

One of the symptoms of too few women in VC, female-led start ups dropped in 2015 to 37%. Women-run companies received just 3% of VC funding and 9% of seed funding. The full article can be found here:http://www.wsj.com/articles/women-started-smaller-percentage-of-u-s-businesses-in-2014-1431560888

And from the doing your job better file, the new advice on how to deal with stress is not to avoid it, but to embrace it:http://www.wsj.com/articles/use-stress-to-your-advantage-1431700708  And one of my favorites for the week: The Tyranny of Constant Contact: http://www.nytimes.com/2015/05/17/style/the-tyranny-of-constant-contact.html

We have a terrific line up of events for May. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

 

Kind regards

 

Christine

 

 

Happy Monday!

I wanted to start with a tribute to Dave Goldberg – as I noted last week, he was a successful Silicon Valley entrepreneur in his own right and was a known advocate for women in an industry that is known to be less than inclusive. An article on his work and life can be found here: http://www.nytimes.com/2015/05/04/technology/david-goldbergs-lifetime-of-advocating-for-women.html

And from the attention-grapping headlines file, CalSTRS CIO Christopher Ailman notes that the private equity world, in terms of manager make up is not diversifying fast enough from ‘pale, male and stale.’ Board diversity is also on his agenda. The full article can be found here:http://www.pionline.com/article/20150428/ONLINE/150429867/managers-not-diversifying-fast-enough-from-pale-male-and-stale-8212-calstrs-ailman

Which brings me to the next article, apparently with application rates down at MBA programs, B-schools are trying to attract women and will need to move beyond their locker-room reputation to do so: http://www.wsj.com/articles/why-business-schools-are-fighting-over-top-women-1430957422

A professor from MIT spent the last five years delving into the subject of how gender affects the career paths of stock analysts. The upshot of her research? Gender discrimination exists. Her advice to women to combat it – do more networking. The full article can be found here:http://www.wsj.com/articles/a-professor-finds-gender-bias-on-wall-street-1430709411

And lastly, an interesting study on the differences between male and female investors noted distinct differences in the way men and women approached investing. And the bottom line? We do better when we work together and allow our individual strengths to complement each other! The full article can be found here: http://www.wsj.com/articles/male-investors-vs-female-investors-how-do-they-compare-1430709406

We have a terrific line up of events for May. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

 

Kind regards

 

Christine

Happy Monday!

This will be short and sweet today – catching up after our move last week!

First article comes from the Dallas morning news ‘Female Venture Capital Funds alter the Status Quo.’ If you cannot join the VC boys club, start your own! http://www.dallasnews.com/business/small-business/20150418-female-run-venture-capital-funds-alter-the-status-quo.ece

From Bloomberg, an academic journal told female scientists if they wanted their work published, they needed to team up with a man: http://www.bloomberg.com/news/articles/2015-04-30/academic-journal-tells-female-scientists-work-with-a-man-if-you-want-to-get-published

In the aftermath of the Ellen Pao case, Sheryl Sandberg did an interview with Bloomberg and Richard Branson and noted that while for men, success and likability are correlated, the opposite is true – the more successful a woman is, the less she is liked and seen as a sympathetic figure. This may explain why powerful women are treated so negatively in the press. The full article can be found here: http://www.huffingtonpost.com/2015/04/24/sheryl-sandberg-ellen-pao_n_7137420.html

And on a sad note, Sheryl Sandberg’s husband passed away suddenly. Aside from being a successful entrepreneur in his own right, he was a man that also helped his wife find success on her own terms. By all accounts their marriage was a true partnership. My thoughts and prayers go out to their family: http://fortune.com/2015/05/02/remembering-dave-goldberg/

We have a terrific line up of events for May. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

Kind regards

Christine

Happy Monday!

I want to thank all of you who came out for our event last Thursday. It was so great to see so many of you there and have a chance to catch up. We really do have an amazing group of members and I am proud to know so many of you.

I would also like to thank our generous sponsors listed here in no particular order – without you the event would not have been the success that it was: Atlantic Trust, Paradigm, RBC, KPMG, Carlson Capital, Akin Gump, Morgan Stanley, Dimensional, ILS Capital, JP Morgan Asset Management, Crestline Investors, Vinson & Elkins, Sallie Behnke – Morgan Stanley Wealth Management, Newhouse + Noblin, Hayman Capital, Haynes & Boone, Elm Park Capital, Texas Capital Bank, Kaufman Rossin Fund Services, Corina Scoggins, Wanda Potts, Lori Lindley, Mari Kooi, Christine Breck, Betsy Ewing & James Elkus, Ellen Wood, Becky Roof, Carrie & Joe Martinez, Carla Knobloch, Alison Hermann, Jim Sheehan, Ashley Baum, ORIX Foundation, Lori Lofye, e360 Power, Jackson Walker, EIV Capital, Burgher Haggard, Heather Nelson – Morgan Stanley Prime Brokerage.

Click here to enjoy photos from this event.

Just a few quick articles this morning – one woman’s approach to the gender pay disparity – shed some light on it by sharing how much you make with your male colleagues! Read her story here:http://money.cnn.com/2015/04/15/smallbusiness/saadia-muzaffar-womens-circle/

One more reason to care about equal pay for women – the old saying ‘your wealth is your health’ also means that being underpaid has serious health consequences for women. The full story can be found here:http://www.self.com/life/work/2015/03/women-equal-pay-day/

And we have read a lot about venture capital being a man’s world – the same is true in private equity:http://www.pionline.com/article/20150406/PRINT/304069977/private-equity-is-changing-but-still-a-mans-world

We have a terrific line up of events for May. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

Kind regards

Christine

Happy Monday!

As you may be aware, we have our biggest event of the year coming up April 23rd in Dallas with over 200 people registered and counting. For those of you who have not attended one of these events yet, this is a great opportunity to meet your fellow members from around the state and it supports a great cause.

TXWSW has been a proud supporter of The Young Women’s Preparatory Network (YWPN) since 2008. YWPN, formerly known as the Foundation for the Education of Young Women, has made some amazing progress since they were founded 10 years ago. During that time they have educated, inspired and touched the lives of 4,500 young women across the state. In 2014, 100% of their seniors were admitted to 4 year colleges and their 146 graduates earned $15.8 million in merit based scholarships. Those impressive statistics are made more so by the fact that 70% of the students come from economically disadvantaged homes and 73% of those girls will be first generation college graduates. The YWPN schools are producing life changing results for these students and the families they will have, and we are proud to be able to continue to support them in their mission with money raised from your generous contributions and volunteerism.

For the event on Thursday, we have an all-star lineup of investors giving their global market outlook including Mary Erdoes of JP Morgan, Katie Stockton of BTIG, Elena Ranguelova of Investcorp and Lilian Zhou will be joining us from Shanghai. Britt Harris from TRS will be moderating and we look forward to his questions. Men and women are welcome to attend the April 23rd event, so please help us get the word out – it is a great event with TWO cocktail hours! Plenty of great networking as well as great content!

If you cannot attend the event this week, please keep an eye out for the events we will have in the Fall in Austin and Houston where you can make a contribution in your local community.

We have a terrific line up of events for April. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

Kind regards

Christine

Happy Monday!

There are many articles detailing the dearth of women leaders at the top – women start out in equal numbers in the workforce and the numbers thin disproportionately by the time they get to the C-Suite. One of the proposed solutions, from the Huffington Post this week, is that the US adopt paid maternity leave.  The article notes that without proper paid maternity leave, many women are forced out of the workforce during their child rearing years, and the more women that stay in the workforce, the more likely it is that they will reach the C-Suite. The article makes a compelling case, and can be found here: http://www.huffingtonpost.com/2015/04/10/women-boards-maternity-leave_n_7040404.html

A video on Bloomberg also explores the topic: http://www.bloomberg.com/news/videos/2015-04-10/maternity-leave-a-labor-crisis-for-working-women

Also from Bloomberg, a great interview with the female Dean of the University of Michigan’s business school on why there are so few women in MBA programs – in her opinion, because the programs are run by men for men. The full article can be found here: http://www.bloomberg.com/news/articles/2015-04-10/a-business-school-dean-explains-why-so-few-women-have-a-job-like-hers

On the VC front, there is reaction in Silicon Valley to the Ellen Pao case that defies the verdict:http://www.bloomberg.com/news/videos/2015-03-30/how-has-silicon-valley-reacted-to-ellen-pao-verdict-

And from Forbes – what it means to lead ‘like a woman’ http://www.forbes.com/sites/yec/2015/03/24/what-it-really-means-to-lead-like-a-woman/

And lastly, we have our biggest event of the year coming up April 23rd in Dallas – you will not want to miss this as we have an all-star lineup of investors giving their global market outlook including Mary Erdoes of JP Morgan, Katie Stockton of BTIG, Elena Ranguelova of Investcorp and Lilian Zhou will be joining us from Shanghai. Britt Harris from TRS will be moderating and we look forward to his questions. The event supports the Young Women’s College Preparatory network that supports 7 schools in Texas that provide a college preparatory education to underserved young girls across the state.  And why is girls’ education so important? Studies show that if you change the outcome for a young girl, you change the outcome for future generations – an investment that pays dividends. And young girls trying to get an education are under siege:http://www.nytimes.com/2015/02/10/world/schoolgirls-are-facing-more-threats-united-nations-reports.html?_r=0

Men and women are welcome to attend the April 23rd event, so please help us get the word out – it is a great event with TWO cocktail hours, so plenty of great networking as well as great content!

We have a terrific line up of events for April. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

Kind regards

Christine

Happy Monday!

Just 2 articles this week and all on Ellen Pao – in the first, the Wall Street Journal published the first interview with Ellen Pao post the trial – the title says it all Pao: Gender Issues Won’t ‘Go Away.’ http://www.wsj.com/articles/ellen-pao-says-gender-issues-wont-go-away-after-kleiner-trial-1428292861  Even though Pao lost the trial, her suit has brought national attention to just how few women there are in the VC space and raises the question why that is. Certainly some of the behavior at Kleiner itself is to blame like male partners on the road showing up at a female associate’s room in a bathrobe and drink in hand – not something that anyone would want to face. Yuck. Disappointing though was the other women at Kleiner testifying on the firm’s behalf – Mary Meeker’s testimony that the atmosphere at Kleiner was an improvement compared to  her time at Morgan Stanley back in the day – but the question is, is that saying much? And how much damage do we women do when we don’t support one another?

Which brings us to the next article – Glass Ceiling: Invisible but in the News” details the fact that we have been talking about the glass ceiling for THIRTY FIVE years, and it is still firmly in place. The analogy is always one of being on the ladder and breaking up through the ceiling. After all these years, maybe a better approach is not only coming from the bottom up, but all those women and men that care about diversity and the improved results it generates would be well served to be hammering at that ceiling from the top and lending a hand to pull more diverse candidates up. The full article can be found here: http://www.wsj.com/articles/the-phrase-glass-ceiling-stretches-back-decades-1428089010

And lastly, we have our biggest event of the year coming up April 23rd in Dallas – you will not want to miss this as we have an all-star lineup of investors giving their global market outlook including Mary Erdoes of JP Morgan, Katie Stockton of BTIG, Elena Ranguelova of Investcorp and Lilian Zhou will be joining us from Shanghai. Britt Harris from TRS will be moderating and we look forward to his questions. The event supports the Young Women’s College Preparatory network that supports 7 schools in Texas that provide a college preparatory education to underserved young girls across the state.  And why is girls’ education so important? Studies show that if you change the outcome for a young girl, you change the outcome for future generations – an investment that pays dividends. And young girls trying to get an education are under siege:http://www.nytimes.com/2015/02/10/world/schoolgirls-are-facing-more-threats-united-nations-reports.html?_r=0

Men and women are welcome to attend the April 23rd event, so please help us get the word out – it is a great event with TWO cocktail hours, so plenty of great networking as well as great content!

We have a terrific line up of events for April. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

Kind regards

Christine

Happy Monday!

 

The big news this week is that Ellen Pao has lost her discrimination case against Kleiner Perkins. This loss came in spite of the fact that the trial judge found enough evidence of bias that he instructed the jury to consider punitive damages. A friend of mine active in the venture world said this case will be like the Anita Hill case – one that broke ground and that we look back on as an error in judgement shaped by society’s biases at the time. The full article can be found here:http://www.nytimes.com/2015/03/28/technology/ellen-pao-kleiner-perkins-case-decision.html?_r=0 And how the trial shook things up: http://www.nytimes.com/2015/03/28/technology/ellen-pao-disrupts-how-silicon-valley-does-business.html?rref=technology&module=Ribbon&version=context&region=Header&action=click&contentCollection=Technology&pgtype=article

CNN did a great interview this week with two sisters who have beat the odds and become CEO’s of public companies in the US. The common denominator? They had strong support from a father who was a successful corporate executive himself and encouraged them to follow in his footsteps. The power of mentoring in action. The full article can be found here:http://money.cnn.com/2015/03/26/investing/sister-ceos-powerful-women-campbell-soup-frontier/

The Federal Reserve just released a study on the pay disparity between men and women at the top levels of management. The biggest takeaway – women get less incentive compensation than their male peers, so they don’t have as much to gain when the companies they run perform well, but have much more exposure on the downside. The full article can be found here:

http://www.bloomberg.com/news/articles/2015-03-24/here-s-how-top-female-executives-end-up-getting-paid-less-than-men

In a recent Preqin study, it turns out the Hong Kong leans the pack when it comes to diversity in the C-Suite of hedge funds. To find out how other countries stack up, read on: http://thetally.efinancialnews.com/2015/03/female-hedge-fund-manager-seeking-senior-role-head-hong-kong/

And lastly, we have our biggest event of the year coming up April 23rd in Dallas – you will not want to miss this as we have an all-star lineup of investors giving their global market outlook including Mary Erdoes of JP Morgan, Katie Stockton of BTIG, Elena Ranguelova of Investcorp and Lilian Zhou will be joining us from Shanghai. Britt Harris from TRS will be moderating and we look forward to his questions. The event supports the Young Women’s College Preparatory network that supports 7 schools in Texas that provide a college preparatory education to underserved young girls across the state.  And why is girls’ education so important? Studies show that if you change the outcome for a young girl, you change the outcome for future generations – an investment that pays dividends. And young girls trying to get an education are under siege:http://www.nytimes.com/2015/02/10/world/schoolgirls-are-facing-more-threats-united-nations-reports.html?_r=0

Men and women are welcome to attend the April 23rd event, so please help us get the word out – it is a great event with TWO cocktail hours, so plenty of great networking as well as great content!

We have a terrific line up of events for April. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

Kind regards

Christine

Happy Monday!

On the subject of breaking ground for women, did you know that the US does not have the likeness of a woman on any of its paper currency? Gail Collins wrote a great article exploring the subject that can be found here:http://www.nytimes.com/2015/03/21/opinion/gail-collins-a-womans-place-is-on-the-20-dollar-bill.html?_r=0

And the discussion as to why there are so few women in finance has spread all the way to South Africa in an article based on John Coates’ work titled Less Testosterone Could Make for Better Banks. The full article can be found here:http://www.bdlive.co.za/opinion/columnists/2015/03/20/less-testosterone-could-make-for-much-better-banks

The Kleiner Perkins’ gender discrimination trial continued last week, and the NY Times did a great article on the subtleties of the lawsuit – this trial is not about the ‘boom-boom room’ culture that went on trial in the late ‘90’s – this trial tells the story of more subtle bias – an employee review that faults a woman for being too aggressive, and praises that behavior in her male colleagues. Of being left out of dinners because her presence would be a downer just because of her gender. The full article can be found here: http://www.nytimes.com/2015/03/17/opinion/venture-capitals-boys-club-on-trial.html

The last article provides some insight as to why there are so few female directors. The title says it all: Many U.S. boards lack vision, just tick boxes in search for women directors. The full article can be found here:http://www.reuters.com/article/2015/03/20/us-usa-companies-boards-idUSKBN0MG21920150320

And lastly, we have our biggest event of the year coming up April 23rd in Dallas – you will not want to miss this as we have an all-star lineup of investors giving their global market outlook including Mary Erdoes of JP Morgan, Katie Stockton of BTIG, Elena Ranguelova of Investcorp and Lilian Zhou will be joining us from Shanghai. Britt Harris from TRS will be moderating and we look forward to his questions. The event supports the Young Women’s College Preparatory network that supports 7 schools in Texas that provide a college preparatory education to underserved young girls across the state.  And why is girls’ education so important? Studies show that if you change the outcome for a young girl, you change the outcome for future generations – an investment that pays dividends. And young girls trying to get an education are under siege:http://www.nytimes.com/2015/02/10/world/schoolgirls-are-facing-more-threats-united-nations-reports.html?_r=0

Men and women are welcome to attend the April 23rd event, so please help us get the word out – it is a great event with TWO cocktail hours, so plenty of great networking as well as great content!

We have 2 great events for March and a terrific line up of events for April. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment!

Kind regards

Christine

 

Happy Monday!

There was a meeting last week at the United Nations as a follow up to the historic 1995 Beijing Conference on Gender Equality. The goal of the conference was to see what progress had been made and where it was still lagging. One of the most sobering things to come out of the conference was a study that shows that “despite the gains women have made in education, health and even political power in the course of a generation, violence against women and girls worldwide “persists at alarmingly high levels.”” And this is not just happening overseas: “about 35 percent of women worldwide — more than one in three — said they had experienced physical violence in their lifetime, the report finds. One in 10 girls under the age of 18 was forced to have sex, it says.” The full article can be found here: http://www.nytimes.com/2015/03/10/world/un-finds-alarmingly-high-levels-of-violence-against-women.html?_r=0

Another worthwhile article came from the Washington Post this week exploring the fact that although women make up 50% of all management roles globally, they only make up 5% of CEOs. The full article can be found here:http://www.washingtonpost.com/posteverything/wp/2015/03/11/why-there-are-so-many-female-managers-but-so-few-ceos/

And kudos to ACIO magazine for asking the question – where are all the women in private equity?  Further, ACIO will be devoting the first day of the 2015 CIO Summit to discuss the burning question of why there are so few women in the asset management profession and what can be done about it. The full article can be found here: http://www.ai-cio.com/channel/NEWSMAKERS/Where_Are_All_the_Female_Private_Equity_Managers_.html

And more good news – Catalyst recently put on a 6 month training program attended by both male and female executives aimed at bringing in men as advocates to help increase men’s involvement in advancing women, and the results were very encouraging. The full article can be found here: http://www.wsj.com/articles/men-pitch-in-to-boost-women-at-work-1426029982?KEYWORDS=joann+lublin

And lastly, we have our biggest event of the year coming up April 23rd in Dallas – you will not want to miss this as we have an all-star lineup of investors giving their global market outlook including Mary Erdoes of JP Morgan, Katie Stockton of BTIG, Elena Ranguelova of Investcorp and Lilian Zhou will be joining us from Shanghai. Britt Harris from TRS will be moderating and we look forward to his questions. The event supports the Young Women’s College Preparatory network that supports 7 schools in Texas that provide a college preparatory education to underserved young girls across the state.  And why is girls’ education so important? Studies show that if you change the outcome for a young girl, you change the outcome for future generations – an investment that pays dividends. And young girls trying to get an education are under siege:http://www.nytimes.com/2015/02/10/world/schoolgirls-are-facing-more-threats-united-nations-reports.html?_r=0

Men and women are welcome to attend the April 23rd event, so please help us get the word out – it is a great event with TWO cocktail hours, so plenty of great networking as well as great content!

We have 2 great events for March and a terrific line up of events for April. Come out and meet our new committee members and share your ideas for future events! Register early to avoid disappointment! 

Kind regards

Christine