In the last year the proportion of women reaching top level management positions in the City of London has doubled, according to research. Women now occupy one in eight top roles in the City.
According to Astbury Marsden, a financial services recruitment firm, 12% of managing directors are now women, up from 6% in 2012. The proportion of female directors/vice-presidents also increased from 14% to 19%.
Overall, women now make up 20% of all professional level City employees.
Mark Cameron, chief operating officer at Astbury Marsden, said, “Our research demonstrates the fact that a higher proportion of women working in the City are now breaking through the glass-ceiling and reaching senior management positions.
“However, there is also the question as to why women have a much lower overall representation in some of the higher paid areas of financial services such as positions in corporate broking and stockbroking or positions in private equity.”
Women represent 19% of corporate brokers/stockbrokers and 25% in private equity. This compares to the 60% of females in human resources and 40% of internal auditors.
The increase in females in management positions in the City will go someway to making progress towards the target set by Lord Davies in the Women on Boards initiative. The target is to have 25% of boardrooms at top companies made up by women by 2015.
Figures released earlier this month show that 19% of directors at FTSE 100 companies are now female, up from the 12.5% in 2011.
However, separate research also suggests that male managers receive double the bonuses and 25% better salaries than females in similar roles.