Breaking the Bank : A study of career barriers among women in the commercial banking sector.

Abstract: Background - Women are underrepresented in top management positions all over the globe. This also applies to Sweden, despite the country's long progressive and high material prosperity. This situation is particularly evident in the banking sector, where women represent approximately half of the workforce. However, in the four largest banks in Sweden, women only occupy 33,25 percent in the highest management teams and 34,5 percent on the boards. This phenomenon is often referred to as “the glass ceiling,” a set of barriers that hinder women’s accessibility to top management positions. This underrepresentation is, in turn, likely to result in a loss of potential human resources due to organizations not searching for competent candidates in approximately half of the population. Further, banks are associated with a lot of power in the society, where they have a significant impact, with a critical role in the economy, contributing to financial growth. Initiatives by for instance the EU Commission to increase gender diversity are on the high agenda. Consequently, the subject of understanding and overcoming these barriers stands high on the agenda of both politicians and researchers. Purpose - The purpose of this study is to identify barriers among women toward reaching top management positions in the commercial banking sector, as well as how women in top management positions have overcome them. By investigating the barriers and how women overcome them, we will contribute with a deeper understanding and meaningful insights to political and managerial practitioners on how they can identify and help women overcome the barriers. The foundation of the theoretical framework in this study will be based on Becker’s (1957) theory of discrimination, Social role theory, and System justification theory will lay the foundation of the theoretical framework in this study. Method - This study is based on qualitative research with a multiple case study in the banking sector in Sweden. Conclusion - We conclude that the most common barriers are based on stereotypical beliefs, the balance between private life and work, biases and discrimination, and organizational culture and structure. How to overcome these barriers is built on supporting organizations, an equal private life situation, and specifically identified personality traits.