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Gender, Performance, and Promotion in the Labor Market for Commercial Bankers

Author

Listed:
  • Marco Ceccarelli

    (Maastricht University - Department of Finance)

  • Christoph Herpfer

    (Emory University - Goizueta Business School)

  • Steven Ongena

    (University of Zurich - Department of Banking and Finance; Swiss Finance Institute; KU Leuven; NTNU Business School; Centre for Economic Policy Research (CEPR))

Abstract

Using data from the US syndicated loan market, we find women to be underrepresented among senior commercial bankers. This gap persists due to unequal promotion rates for men and women at the same institution in the same year, and cannot be explained by different individual or managerial performance. The gap is influenced more by individuals than by institutions, with senior bankers showing assortative matching when changing jobs, and perpetuating the gender gap from their previous workplace. Our findings suggest that the gender gap may be partially attributable to women taking on more family care responsibilities. Hard credentials or female leadership at the top of banks do not alleviate the gender gap, but targeted gender discrimination lawsuits and female leadership on the local level result in increased promotion of women.

Suggested Citation

  • Marco Ceccarelli & Christoph Herpfer & Steven Ongena, 2023. "Gender, Performance, and Promotion in the Labor Market for Commercial Bankers," Swiss Finance Institute Research Paper Series 23-23, Swiss Finance Institute.
    • Handle: RePEc:chf:rpseri:rp2323
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    More about this item

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing

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