From the apron to the cape : examining the experiences of women who rise to leadership positions on Wall Street

Historically, women in leadership positions at top Wall Street firms had to overcome much adversity to advance within a predominantly male-dominated culture. Wall Street, also known as the old boy’s club, principally catered to White males. Women that tried to operate within this old boy’s network were particularly harassed and discriminated against. Beginning around the late 1970s and early 1980s, women who entered top Wall Street firms found positions as receptionists, secretaries, assistants, and low-level administrators. As women struggled to advance up the corporate ladder, they were confronted by much resistance from the hierarchical male-dominated culture. Some women quit and filed lawsuits, while the women who stayed were determined to overcome gender-bias to rise to leadership positions. Their perceptions and understanding of their organizational setting generated new ideas of women in leadership; they shared knowledge, told their stories, and inspired one another. This research study examined the experiences women in the financial industry encountered on their pathways to becoming leaders in a male-dominated culture. This dissertation presents a narrative study on a group of women in leadership positions within the financial industry conversing about their pathways into leadership, learning about their motivating factors, and discovering how they became change agents in leadership.