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25 year-old-women in banking work far fewer hours than 25-year-old-men

Women don’t have a square deal in banking, as (hopefully) no one in the industry needs to be told.

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Women in banking do, however, have one advantage over their male peers; they work far fewer hours, especially as juniors, as data we’ve crunched from our 2024 compensation survey and its related 2024 salary and bonus report says.

We had 6,000 responses to the survey. They showed that younger women work more lenient schedules than their male counterparts, whilst older women worked as much, if not more, than men.

(We're still having problems displaying charts on mobile, so please view this on a desktop for the moment).

Why is this? It might be presumed that a lower proportion of young women are in front-office roles with higher working hours (eg. M&A and capital markets roles). This isn't the case. Our data suggested women under 25 were actually more prevalent in investment banking roles than men. The same applied to equity research roles, another job with high working hours, too.

We saw the same pattern when we ran our survey last year. Then, we found that women in their early 20s and 30s worked a lot less than men, and that women in their 40s and 50s again worked more.

Moreover, the gap may be widening. The only major change between the two years was that, whilst almost all men worked more hours in 2023 than they did in 2022, all women worked less.

The means that although men in banking earn a lot more than women in total compensation, on a per hour base their pay was less distinct. Women under 35 are only paid slightly less than men on an hourly basis, for example. 

Nonetheless, almost all women were less satisfied than men with their pay. The only exception was women under 25, who had the highest rate of satisfaction for any age/gender combination. On the flipside, however, women over 50 reported the highest levels of pay dissatisfaction.

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AUTHORZeno Toulon

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