The first-ever study of women in Canada’s investment dealer industry indicates there’s much to be done to increase the equal treatment of women with respect to career advancement and job satisfaction.

The study by Catalyst Canada and Women in Capital Markets, began in the fall of last year, is meant as the first step in understanding the issues women face in the investment dealer industry.

Not surprisingly, the survey of 1,500 men and women in Canada’s seven largest investment dealers, indicates men outnumber women across most areas such as corporate and investment banking and capital markets, and at most levels (professional, vice president and managing director).

It also suggests that women like the investment industry for many of the same reasons as men, including the desire for intellectually challenging work, good pay and a certain amount of prestige.

But they differ greatly when it comes to the perception that men and women have to barriers they say they face. For example, the survey says 52% of the women surveyed think they have to perform better than men to get the same rewards. Only 8% of men feel that way. As well, 42% of women say these stereotypes inhibit their advancement in the industry; 13% of men said they felt that way.

When asked why women have not advanced further, men are more likely to say that women simply don’t have the same kind and amount of experience as men.

Women surveyed also indicated a desire for more mentoring (either by male or female role models), more chances to network with both clients and colleagues and better chances to advance in the company.

Marlene Puffer, past-president of Women in Capital Markets, says her organization wants the industry to have some time to absorb the survey. But she says WCM intends to sit down with high-ranking officials of the investment dealers in the fall to discuss how they might make the industry more open and inviting to women.

Some of the recommendations in the report include:
> raising awareness of issues;
> creating an environment that helps to include women more, such as developing formal mentoring programs and women’s networking groups;
> putting systems in place that help both men and women develop their careers, and
> making sure there are more women in the industry “pipeline” to begin with by making younger women aware of the opportunities available to them in the investment industry.