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02:01 PM on 03/19/2012
So, now the left is worried about WS women?
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ArChiMi
Skeptic
03:18 PM on 03/19/2012
Not worried, just reporting on it.
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OutToLunch
veni, vidi, i'm outta here.....
01:53 PM on 03/19/2012
I have a friend who does recruiting for the finance industry, mostly investment banking. he's sent numerous women for interviews and has been told several times that they don't want women (other than as administrative staff). They actually said that if he keeps sending them women, they'll find a new head hunter.

To the posters making excuses for the disparity between the genders or blaming women for it - Wall St doesn't try very hard to hide their misogyny because they don't have to, and anyone who's familiar with the industry knows this.
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jadeba
02:29 PM on 03/19/2012
It makes sense. Women might have a problem with their behavior and ruin the fun. Girls aren't invited in to those boys clubs for a reason!
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OutToLunch
veni, vidi, i'm outta here.....
02:37 PM on 03/19/2012
exactly....
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halfassedfilms
01:42 PM on 03/19/2012
So maybe smart, capable women should go into some other business than the financial industry? Them, and every other smart, capable person in this country. Make something, do something for society. Anything other than generating more cash for yourself and your corporate overlords.
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DredLockRasta
I'm not an actor, but I play one on TV.
01:36 PM on 03/19/2012
Wow, awesome legs on her.
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HellBank
Curve: The loveliest distance between two points.
01:34 PM on 03/19/2012
Naturally. Most of the women banksters hire charge by the half hour.
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halfassedfilms
01:44 PM on 03/19/2012
Hey, good for those women to find some way to take some part of their cash.
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Barbarian At The Gate
Fortune favors the bold.
01:31 PM on 03/19/2012
What do you expect from the industry. Remember when Smith Barney had their "Boom Boom room".
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PitBull6
01:26 PM on 03/19/2012
Most likely the biggest thing preventing women from earning more on WS is women. Comparing women's pay, exclusively, to men's is a simplistic way to measure disparity (not to mention a convenient statistic for those with an agenda). It would be similar to comparing a pro baseball player to a AA player from another city and asking "Why does the guy from Baltimore make more than the guy from Springfield?"
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halfassedfilms
01:44 PM on 03/19/2012
So according to your ill-advised metaphor, women are minor league and men are majors?

Nope, nothing sexist here. . .
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PitBull6
11:35 PM on 03/19/2012
A little cutting, in retrospect, but a fair analogy nonetheless. No, both major and minor leaguers play baseball but don't get paid the same (ie they do the same job) That's all I was saying.

You're right. There is nothing sexist here.
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OutToLunch
veni, vidi, i'm outta here.....
01:45 PM on 03/19/2012
how are women preventing themselves from earning as much as men? please explain. (note: studies that include women who take maternity leave as a variable control for that, and still report a wage gap)

also, your baseball analogy makes absolutely no sense - if both men and women are working on Wall St and, presumably, have equal education and experience, who's from Baltimore and who's from Springfield??
02:06 PM on 03/19/2012
In general the first number quoted by folks the the average income for men versus women without any of the statistical controls. Once you start to factor in the controls the wage gap tends to narrow anywhere from a bit to a flipping over to women making more than men. Age, market, industry, size of employer, and gender of the owner of the company also plays a role.

In short, the simple wage gap doesn't mean much but isn't quite the same talking point as saying that "Women in biology, with a PhD, working in New York..."
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PitBull6
11:46 PM on 03/19/2012
They *tend* to make decisions which hurt their income but increase their personal happiness regarding family.

My analogy make perfect sense if we keep it simple: regardless of level, all baseball players throw, run, and bat. Yet they make vastly different amounts of money. A better analogy would be thesalaries of the NY Yankees or Boston Red Sox versus those of the KC Royals or San Diego Padres. Same league, different team salary totals.

But in counter, you make a poor assumption, that there's equal levels of education and experience. Those are two of the biggees which created the gap. Women who have children tend to take time off from their careers much more than men do.

Therefore, a man and woman graduating from the same school with the same abilities, will most likely be making different amounts at the ten year mark if the woman takes time out to have a child for a year or three. Getting out of the workforce has it's impact on experience.
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Kenneth Alton
01:23 PM on 03/19/2012
I suspect this is due to the fact that, proportionally speaking, women generally don't work the same jobs on the Street that men do. You see more women in the back office and fewer women on the Desk, for example, and even when you do them on the Desk they are more likely to be simply handling customer trades instead of than the firm's own.
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halfassedfilms
01:45 PM on 03/19/2012
Yes, its very unequal (read: sexist) to only offer women certain positions inside the company.
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Kenneth Alton
02:31 PM on 03/19/2012
I'm not sure it's a case of women not being offered a position on the trade desk. I for one hated my time on the Desk, particularly the stress during a rotation onto the FX desk. In contrast I was very happy to switch to Capital Mrkts., splitting my time between Middle and Back offices working on new product design.
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OutToLunch
veni, vidi, i'm outta here.....
01:56 PM on 03/19/2012
...and why would it be that women don't work the same jobs? Perhaps sexism prevents them from getting the better-paying jobs to begin with.
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Kenneth Alton
02:36 PM on 03/19/2012
Or it could be that women, in general, don't like the stress of working the Desk. One could work Legal or Audit, which, while both high paying, certainly don't carry the kind of bonus on a good year working the Desk can.

I for one was delighted to when my rotation took me off the Desk, and after two years, when finally given the choice, chose Capita Mkts.
01:21 PM on 03/19/2012
perhaps the women simply don't end up being as good as the men.

wall street pays with bonuses not salary
they work on commission
less results = less money
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blisster
Need more micro-bio fuel for my mitochondria
01:44 PM on 03/19/2012
Amorality rules the day.....or is it rues the day?
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halfassedfilms
01:46 PM on 03/19/2012
Because there's tons of statistical evidence of boys being better than girls?

Did you read your post before you hit submit to see how sexist it actually is?
06:03 PM on 03/19/2012
the opnly sexist i see is you

who demands more pay for poorer quality work
01:21 PM on 03/19/2012
It's like a form of prostitution where the men make more money for turning tricks, interesting.
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Burn Adams
An Ex-Liberal that finally met the real world.
01:11 PM on 03/19/2012
Talk about one-sided reporting.

1. It is already illegal to pay a man and a women different wages for the same job.
2. MAYBE women value family time more than men. So maybe we need to pass a law limiting how much time women can spend with their families to drive them to work more hours.
3. Recovery helping men more than women?!?!!! If this was honest reporting, you would also mention the recession has affected men a lot worse than women. So, of course you'll see men have more gains during a recovery. They lost a lot more than women.

Of course, it's not like I come to the HuffPo for honest reporting anyway :)
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halfassedfilms
01:47 PM on 03/19/2012
But see you didn't do ANY journalism. You just pulled a bunch of out-dated, sexist ideas out of the air and proudly presented them to the world as some kind of pearls of wisdom.
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faust2001
But what I really want to do is direct.
01:11 PM on 03/19/2012
It's not that it pays to be a guy on Wall Street, it pays to be a sociopath on Wall Street.
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faust2001
But what I really want to do is direct.
01:10 PM on 03/19/2012
This might tarnish the financial sector's otherwise sterling reputation.
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LeftLeftLeft
Yep, an empty micro-bio is a happy micro-bio!
01:00 PM on 03/19/2012
Where is the evangelical outcry about strippers and prostitutes being funded by the "free market" of the stock market? Oh, that's right, that might affect their "prosperity theology" a little too much. And we mustn't expect our money-changers to have the same rigid morals that we do from WOMEN now, eh?
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nevadagirl
Socialist in high heels.
01:51 PM on 03/19/2012
Left, I wish I could fan you more than once.