Switzerland is one of the world's leading financial markets. The share of women in the top echelon of the institutes however is smaller than in Nigeria. Partly, this is because Swiss female bankers know their numbers.
The statistics make for terrible reading for a country that had the ambition to become the No. 1 among financial markets: Switzerland is third from last in a ranking of the number of women in top jobs at banking institutes compiled by Oliver Wyman consultancy. Only Korea and Japan have an even worse record to show for.
Few Escape the Mud
Mexico, Nigeria, Columbia – even emerging markets have better scores than Switzerland (see ranking below). Rival financial markets of a similar standing, such as the U.S., the U.K. or Singapore are far ahead anyway. The city-state in Asia has a share of females in top jobs of 25 percent, which compares favorably with the average 16 percent and at any rate with the paltry 5 percent of Switzerland.
What makes Switzerland stand out is the failure of young female financial experts to emerge from the lower and medium level management. Only very few manage to escape the «mud» as a quick glance at Swiss banking confirms. Two female CEOs compete with hundreds of men – Fiona Frick at Unigestion in Geneva and Marianne Wildi, head of Hypothekarbank Lenzburg.
The reasons are known. Short maternity leave, the absence of a paternity leave, little fiscal incentive for parents and massive costs for external childcare are making it difficult for mothers to have a family and a career.
The Costs of Making It
But that's not all. The study also shows that fewer than half of all women surveyed aspire to a role in management. Internationally, the share is closer to two thirds.
Swiss women probably know the numbers well. The costs of making it at work routinely exceed the returns. The halfhearted support of families, little flexibility with working hours, no transparency in who gets promoted and remuneration are ares where companies in the industry lag expectations, according to Oliver Wyman.
