A perceived lack of career progression is causing many females to leave their jobs in financial services or putting them off joining the sector in the first place, according to a new PwC report.
PwC’s report ‘Female millennials in financial services: strategies for a new era of talent’ reveals that limited opportunities for career progression is the number one reason female millennials (born between 1980 and 1995) leave their job in financial services. While two thirds of women working in the sector believe they won’t be able to reach a senior level within their organisation. This compares to just three in 10 male millennials working in the same industry.
The report, which draws on interviews with over 8,000 female millennials globally, reveals that the financial services industry faces a number of hurdles in attracting and retaining this generation of women. Female millennials are entering the workplace in larger numbers than ever before and come with their own set of expectations and ambitions for their careers.
The research found that one in five of this generation of women wouldn’t work in financial services solely due to the sector’s image. Insurance is the least popular sector, while asset management fares better due to the higher …Read More
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