Research Reports

Published: January 2002

Download (Free)

This research report explores how the attitudes, opinions, and experiences of women and men working in Canadian investment dealers are similar to, or different from, the perspectives of U.S. financial services employees. The data for this project came from two separate studies: Catalyst’s Women in Canadian Investment Dealers: Growing the Pipeline study and the U.S.-based project, Women in Financial Services: The Word on the Street.

Impetus: This project was undertaken for the Canadian nonprofit organization, Women in Capital Markets, which is the group that sponsored the original Women in Capital Markets project. This particular report gives a U.S. benchmark for the survey data gathered from employees working for Canadian investment dealers.

Methodology:

Women in Capital Markets study:

• A representative sample of managing directors, vice presidents, professionals, and sales associates was drawn from Canada’s seven largest investment dealers.
• 4,591 men and women—equally matched by firm, level, and area (except at the managing director level where there were too few women)—were invited to participate in a web-based survey, 1,501 of whom responded. Response rate: 33 percent.

Women in Financial Services study:

• Approximately 400 employees at the associate level or above were surveyed from each of seven participating U.S. financial services firms.
• Senior-level employees (at the managing director level or above) were over-sampled.
• 2,204 surveys were sent out and 838 participants returned usable data. Response rate: 38 percent.

This report:

• Compared the survey responses of U.S. and Canadian employees.

Findings: The findings revealed that employees of Canadian investment dealers and those employed by large U.S. financial services firms perceive their work environments similarly—they are attracted to their firms for similar reasons; they agree on the factors that would compel them to leave; they employ the same strategies for success; and many of them have difficulty achieving work/life balance. Despite the similarities, there were a few areas of divergence between employees from the two countries, suggesting there are tangible differences between their work environments. Most notably, higher percentages of women respondents in the U.S. than Canada agree that there are barriers to the advancement of women in their firms. Also, women in the United States were more likely to believe that they have to develop a style with which male managers, partners, and directors are comfortable.

Sponsor: Women in Capital Markets