I have heard over the years how tough it is for women in the financial world. Those who are working as financial advisors face alot of negativity from their male colleagues. I was checking my last women enews posting and was shocked but not suprised to read the following: In an article examining why women on Wall Street are “disappearing” published by Forbes Feb. 25, the story of Amy Bartoletti at Citicorp is provided as a prime example.
Bartoletti claims she was asked to head up a group to securitize home loans, but a male colleague complained that he wasn’t selected, so they were both made co-heads and earned the same salary, despite her greater experience. They both were required to take a special licensing exam in October; she earned the certification quickly, he did not. In November, Bartoletti was laid off from her job because the bank told her she was “too expensive.”
“It’s the old boys’ network,” she said.
Bartoletti and four other women have filed a bias complaint with the U.S. Equal Employment Opportunity Commission, the federal agency that investigates workplace discrimination. Since the stock market crash, 260,000 jobs have been lost in the financial and insurance sectors. Women were 64 percent of employees before the economic crisis but represent 72 percent of the laid-off workers, according to Forbes.