abstract | Today, women hold sixteen percent of board seats at Fortune 500 companies, only a five percent increase in
representation over the last seventeen years (Catalyst 2017). Accordingly, as women continue making strides within middle management, they often
face a glass ceiling early in their career, failing to advance further up the corporate ladder. While many scholars point to external barriers
such as discrimination (Bell, McLaughlin, Sequeire 2002) and mentoring (Wallace and Kay 2012) as reasons for the dearth of female executives in
the finance sector, others suggest it is more about the women's personalities and their lack of motivation (Sandberg 2013). This paper examines
how women who have broken through the glass ceiling talk about their career paths, and in particular, the role of social networks and mentoring.
Using a nonrandom snowball sample, the author interviewed fifteen women working in executive positions in finance in the New York City metropolitan
area. Questions focused on the subjects' career paths, how they reached their current position, and what factors they believed resulted in their
upward mobility. While the findings of the study may not have definitively proven anything about the women or the financial sector, the study was
important in revealing information about the role and importance of mentoring within the context of the personal experiences and narratives of the women.
Results suggest that mentoring and social networks were instrumental in helping the women reach their elite positions. Specifically, a majority of
the subjects interviewed pointed to their mentors as the pivotal reason for their success rather than emphasizing their own unique skills and abilities,
suggesting that female executives may not simply need to "lean in" but identify and acquire mentoring from other executives further up the corporate
ladder, further underscoring the role of social networks and social capital in the workplace. |