Banking and Financial Services: Diversity at the Workplace
The American workforce is made up of 153 million individuals largely dominated by whites (78%) while Blacks and African Americans have the second highest representation with 12%, followed by Asians with 6%. Women account for 46.9% of the total American workforce and a 20% representation across boards and executive committees. Women representation in the BFSI industry is marginally better with 22% in financial services boards and 16% in executive committees.
The Financial Services industry ranks second along with media & entertainment, in terms of employed women workforce. A significant 51% of the healthcare industry’s workforce is made up of women and a 36% representation in the financial services industry as well as the Media & Entertainment industry. Bank of America, Wells Fargo, JP Morgan Chase are the companies that have the highest gender and ethnic diversity ratios.
In the US, roughly 24% of women hold a VP position or higher in the Financial Services industry. Non-whites constitute 17% of these positions. The statistics are higher in middle management positions as women make up 42% of all roles with non-whites accounting for 33%; women account for 44% and 61% of all staff in professional staff and support staff roles.
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