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Gender Bias in Promotions: Evidence from Financial Institutions

Author

Listed:
  • Ruidi Huang
  • Erik J Mayer
  • Darius P Miller

Abstract

We test for gender bias in promotions at financial institutions using two central predictions of Becker’s (1957, 1993) model: firms with bias will (1) raise the promotion bar for marginally promoted female workers, and (2) incur costs from forgoing efficient employment practices. We find support for both of these predictions using a new nationwide panel of mortgage loan officers and their managers encompassing approximately 72,000 workers from over 1,000 shadow banks from 2014 to 2019. Overall, our findings provide evidence that gender bias is an important factor in gender gaps at financial institutions.

Suggested Citation

  • Ruidi Huang & Erik J Mayer & Darius P Miller, 2024. "Gender Bias in Promotions: Evidence from Financial Institutions," The Review of Financial Studies, Society for Financial Studies, vol. 37(5), pages 1685-1728.
    • Handle: RePEc:oup:rfinst:v:37:y:2024:i:5:p:1685-1728.
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    File URL: http://hdl.handle.net/10.1093/rfs/hhad079
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions

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