Gender, Performance, and Promotion in the Labor Market for Commercial Bankers

Marco Ceccarelli, Christoph Herpfer and Steven Ongena
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Marco Ceccarelli: Maastricht University - Department of Finance
Christoph Herpfer: Emory University - Goizueta Business School

No 23-23, Swiss Finance Institute Research Paper Series from Swiss Finance Institute

Abstract: Using data from the US syndicated loan market, we find women to be underrepresented among senior commercial bankers. This gap persists due to unequal promotion rates for men and women at the same institution in the same year, and cannot be explained by different individual or managerial performance. The gap is influenced more by individuals than by institutions, with senior bankers showing assortative matching when changing jobs, and perpetuating the gender gap from their previous workplace. Our findings suggest that the gender gap may be partially attributable to women taking on more family care responsibilities. Hard credentials or female leadership at the top of banks do not alleviate the gender gap, but targeted gender discrimination lawsuits and female leadership on the local level result in increased promotion of women.

JEL-codes: D22 G21 G32 J01 J71 (search for similar items in EconPapers)
Pages: 63 pages
Date: 2023-03
New Economics Papers: this item is included in nep-ban, nep-gen, nep-hrm and nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:chf:rpseri:rp2323

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