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Black women on Wall Street face biggest promotion problems

A survey of 14,000 finance workers by consultancy McKinsey found women are 24% less likely to make their first promotion

Black women on Wall Street face biggest promotion problems
Photo: Getty Images

Women working on Wall Street are almost 25% less likely to secure their first promotion than their male colleagues, according to a wide-ranging study that exposes serious gender inequality in the financial services industry.

A survey of more than 14,000 employees at 39 banks and asset managers in the US has found that less than a fifth of the most senior roles at those companies are held by women, with female staff being promoted at much lower rates than men.

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