Want to Earn Less at UBS? Have a Baby
Little wonder finance has such a long way to go to make up its shortfall of women in top jobs.
An illuminated UBS logo sits outside UBS AG's headquarters in Zurich, Switzerland.
Photographer: Gianluca CollaAs he marked International Women’s Day, UBS Group AG Chief Executive Officer Sergio Ermotti posed with colleagues to boast how a more diverse workforce makes for a better place to work. Days later, it emerged the Swiss bank had been imposing long-term cuts to the bonuses of some female employees who had been on maternity leave.
The business world’s embrace of diversity and inclusion has been accompanied by a proliferation of commitments and data. It’s increasingly clear why financial firms in particular are struggling to get the gender balance right at the top of their organizations. Blaming the lack of women in senior roles on the absence of more flexible working arrangements and training increasingly looks like a feeble excuse.