Women in Finance: Notable Gender Gap Among Faculty Members at Top Finance Schools
Despite some progress over the years, the gender gap persists in finance programs at top business schools. The latest research reveals that women make up a mere 16% of the faculty at those institutions.
The research was conducted by two finance professors and involved a review of the finance faculty from the top 100 business schools in the US between 2009 and 2017. The two researchers are Heather Tookes, who works as a finance professor at the Yale School of Management, and Mila Sherman, professor of finance in the Isenberg School of Management at the University of Massachusetts Amherst.
According to the research published on November 13, 2021, women usually work for lower-ranked institutions and are less likely to be tenured than their male counterparts. The research also shows that out of all the tenured members at all finance universities and colleges, only 15% are female.
Another alarming finding exposes a publication gap of 17.3%, which means that women employed in business schools have fewer publications than men in the same roles. And when women do publish, they tend to work with female co-authors more often than their male colleagues.
“In a world where publishing means a great deal to your future job prospects, this spells trouble for female faculty. Because they do not appear as often as co-authors and are often publishing their work solo, it reduces their opportunities to publish,” Sherman said.
Although the gender gap is far from being closed among faculty at business schools, there have been some improvements when comparing recent findings with data from previous years. As Sherman noted, the most important pay gaps occurred in 2011 and 2012, when many universities were still recovering from the financial crisis that took place a few years earlier, and many students had to seek help from financial institutions. It’s also important to note that the gender pay gap in academic finance is much smaller than in the US economy as a whole.
Julia A. is a writer at SmallBizGenius.net. With experience in both finance and marketing industries, she enjoys staying up to date with the current economic affairs and writing opinion pieces on the state of small businesses in America. As an avid reader, she spends most of her time poring over history books, fantasy novels, and old classics. Tech, finance, and marketing are her passions, and she’s a frequent contributor at various small business blogs.
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