Gendered organizations and women's career progression in the UK financial services sector

Abstract

This article discusses the main findings of the Equality and Human Rights Commission's 2009 inquiry into unequal pay and sex discrimination in the financial services sector and the Treasury Select Committee's 2010 report ‘Women in the City’, which examined the under-representation of women directors, with reference to literature on organizational culture and women's career progression. The article considers whether a masculine workplace culture exists in the financial sector (and more generally) and what effect it can have on women's career choices and opportunities for promotion. Under-representation occurs because many women are either choosing not to apply for directorships of FTSE 100 companies or being overlooked. The article considers the current legal framework in relation to sex discrimination and flexible working and whether the changes made by the Equality Act 2010 go far enough. Policy options to improve the current situation are considered, with particular focus on the possibility of quotas for women directors and other measures to address under-representation.