The glass ceiling is very much unbroken in the hedge fund industry, according to a new survey.
More than eight in 10 women in the hedge fund and private equity industries feel their gender has affected their likelihood of having a successful career, Financial News reports. The overall number from FN's Women in Finance Survey is 66%.
The hedge fund industry is "still a bit of an old boys' club," former Pomegranate Capital executive Susan Solovay told FN. "Unfortunately, a lot of people associate richness with maleness. The large institutional investors are predominantly run by men and they naturally feel more comfortable investing with other men."
In addition, women are often relegated to what are seen as less-important roles: Just 12% of the 10,000 members of 100 Women in Hedge Funds are traders or portfolio managers, compared to 26% in marketing.
"Among some of the experienced women, the feeling is that women coming into the industry now should be led towards more roles than marketing, operations and HR," Rachel Stewart of search firm Odgers Berndtson told FN. "It’s more difficult to get a seat as a partner or director if you don’t have a background of P&L responsibility, as this is the bread and butter of the hedge fund industry."