Doctoral Dissertation Reseach: Making the Team: Gender, Money, and Mobility in Wall Street Investment Banks

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This doctoral dissertation research project seeks to uncover sex differences in success in prestigious financial careers. The existence of a "glass ceiling" blocking women's advancement in organizations has been well-documented, however the processes that create this ceiling effect are not well-understood. "Wall Street" financial institutions represent a new and important frontier in glass ceiling research. The proposed research will address several questions: (1) To what extent do co-worker and/or client relationships influence success, and are there sex differences in this influence? (2) How does the work environment affect women's and men's careers? (3) To what extent are barriers to women's success related to social pressures outside of work? (4) Compared to men, what obstacles do women face early in their careers? (5) Are there gender differences in turnover and, if so, what accounts for them? Answers to these questions will be sought through in-depth interviews with men and women who entered investment banking careers as associates in Wall Street's most prestigious investment banks during the early 1990s. The project should accomplish several goals: It will (1) provide a unique, systematic comparison of men and women who begin their careers from similar backgrounds; (2) shed light on the processes that operate to maintain glass ceilings; (3) employ a systematic analysis of informal networks, the importance of which only has been documented anecdotally; (4) allow an important comparison between individuals who are successful and those who leave the career--a comparison not considered by most glass ceiling research; and (5) represent the first study of employment patterns and interpersonal dynamics in elite Wall Street firms.