File - Stone says women at investment banks saw few opportunities for advancement and moved to other fields.
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The first woman to run a Wall Street firm could be a behavioral scientist, a mathematician, or an engineer. Three women with these backgrounds – Karen Peetz, president of Bank of New York Mellon; Mary Callahan Erdoes, chief of asset management at JPMorgan Chase; and Avid Modjtabai, head of consumer lending at Wells Fargo – are all currently within striking distance of the CEO suite.Women have been close to the top of Wall Street firms before, only to get derailed or swatted away.(An MBA is still a prerequisite for many investment-banking jobs). And only about 20 percent of those female business school graduates say they'd even consider a career in financial services, compared with 36 percent of men, according to research by Universum Global. In a study Stone co-authored last year, which looked at 25,000 Harvard Business School MBAs, only about 11 percent of women actually left their jobs to stay home with children.Women made up 48 percent of midlevel managers in 2013 but accounted for just 29 percent of senior officials in finance and insurance, according to data collected by the Equal Employment Opportunity Commission. Those numbers were worse than in 2007, the earliest comparable year available, when women accounted for 30 percent of senior managers and 49 percent of midlevel managers.
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