Family Burdens Keep Women From Finance's C-Suite

  //business-finance.news-articles.net/ .. eep-women-from-finance-s-c-suite.html
  Published in Business and Finance on Fri, Dec 12th, 2025 by Business Today

Family is the Elephant in the Room: What Still Holds Women Back in Finance – A Deep‑Dive Summary

In a recent Business Today feature, senior finance professional and gender‑equity advocate Devina Mehra takes on a long‑standing, yet often overlooked, obstacle to women’s career progression in the financial services sector: the disproportionate burden of family responsibilities. The article—titled “Family is the Elephant in the Room – Devina Mehra on What Still Holds Women Back in Finance”—examines the interplay of cultural expectations, institutional practices, and structural biases that keep women from reaching the top tiers of finance, even as the industry claims to be merit‑based.

1. The Numbers Tell a Story

The piece opens with a compelling set of statistics that frame the discussion. Women represent roughly 34 % of the finance workforce globally but hold only 12 % of C‑suite positions. In the United States, a 2023 McKinsey survey found that women in finance earn on average $5,200 less per year than their male counterparts—an amount that rises to $8,800 for senior managers. The disparity grows steeper at the “glass ceiling” level, where fewer than one in four women reach the equivalent of a senior vice‑president rank.

These figures underscore a systemic issue that can’t be chalked up to “different skill sets” or “personal choice.” Instead, Mehra argues, the data point to entrenched cultural and institutional biases that favor male career trajectories.

2. “Family” is More Than Childcare

One of the most striking aspects of the article is Mehra’s insistence that the word family has a broader, more nuanced meaning in the context of finance careers. While childcare is a well‑known challenge, Mehra highlights that eldercare, household management, and even the “care of a partner” often weigh heavily on women’s professional lives. This “extended family” obligation can lead to:

• Reduced availability for after‑hours networking events, which are still the norm for advancement in many banks and investment firms.
• Higher rates of “soft power” erosion, as women are less able to engage in the informal mentorship circles that often shape career trajectories.
• Increased risk of burnout, because the expectation to juggle demanding work schedules with familial duties is higher for women.

The article links to a Business Today side piece titled “The Silent Cost of Parenting in Finance” which quantifies the lost opportunities for women who take on the lion’s share of domestic responsibilities. Mehra points out that the pandemic amplified this divide; the sudden shift to remote work made it even more difficult to balance professional and personal obligations.

3. Cultural Stereotypes That Persist

Beyond the logistical constraints, the article delves into gendered stereotypes that subtly—or not so subtly—affect decision‑making. Mehra cites a 2022 Aon study that found senior leaders were more likely to view men as “ambitious” and women as “team‑players.” These perceptions influence hiring, promotion, and even the framing of performance reviews.

She also highlights how networking conventions—the “water cooler” chats, the after‑work drinks—are still largely male‑centric. Women are often left out of the informal “in‑group” that sets the tone for career advancement.

4. Institutional Practices That Perpetuate Inequality

Mehra breaks down the specific corporate practices that enable the status quo:

The article links to a Business Today “Best‑Practice Guide for Women‑Friendly Workplaces” that offers concrete steps companies can take, from extending flexible work hours to implementing a “no‑bonus‑after‑hours” policy.

5. Mehra’s Recommendations: A Multi‑Layered Approach

Drawing from her decade‑long career in global asset management and her time on several women‑in‑leadership boards, Mehra proposes a holistic strategy:

1. Policy Overhaul: Expand parental leave for both parents, adopt flexible working hours, and implement “time‑off” policies that reward quality over quantity.
2. Mentorship & Sponsorship: Create formal mentorship programs that pair senior leaders with junior women, coupled with sponsorship initiatives that advocate for women in high‑visibility projects.
3. Bias‑Aware Performance Reviews: Shift from subjective “ambition” metrics to objective, results‑based KPIs that are equally accessible to all employees.
4. Inclusive Networking: Offer virtual and asynchronous networking options to accommodate those with family obligations.
5. Cultural Re‑Education: Launch regular training on unconscious bias, gender stereotypes, and the value of diverse leadership.

Mehra emphasizes that these measures must be enforced at the top levels—senior executives must commit to transparency, accountability, and measurable outcomes.

6. The Role of External Organizations

The article also references partnerships with industry groups, such as the Women’s Finance Network (WFN) and the International Federation of Accountants (IFAC), which are launching initiatives to create “family‑friendly financial hubs.” The Business Today feature links to a recent IFAC report that predicts that a 10 % increase in women’s participation in senior roles could lift firm performance by up to 1.4 % in revenue growth, illustrating the tangible business case for gender equity.

7. A Call to Action

Mehra concludes with a compelling rallying cry: “If family is the elephant in the room, then it’s time for the industry to give it the space it deserves.” She calls on board members, HR leaders, and senior managers to:

• Audit their own biases: Who is being excluded from decision‑making circles?
• Invest in data: Track metrics on flexibility usage, promotion rates, and pay equity.
• Champion visible change: Publicly announce new policies and monitor progress quarterly.

She cites examples from firms like J.P. Morgan and Goldman Sachs, which have publicly committed to “family‑first” policies, showing that change is possible when leadership takes the lead.

8. A Broader Conversation

The article encourages readers to explore related Business Today pieces for deeper context, including:

• “Why Women Need Role Models in Finance” – a profile of women leaders breaking barriers.
• “The Future of Women in Banking” – an analysis of projected gender equity trends through 2030.
• “The Cost of Gender Bias in Finance” – a detailed look at the economic impact of unpaid gender bias.

Each of these pieces weaves into the overarching narrative that while family responsibilities have historically been framed as a personal choice, they are in fact a structural obstacle that, if left unchallenged, will continue to impede women’s ascent in finance.

In Summary

Devina Mehra’s article does more than highlight the gender gap in finance—it unpacks the hidden, familial costs that disproportionately burden women and offers a pragmatic blueprint for change. By tying together data, personal anecdotes, and actionable policy recommendations, the piece serves as a crucial resource for anyone invested in building a more inclusive, equitable financial industry. The “elephant” of family is not a problem to be hidden but a reality that, when acknowledged and addressed, can propel women—and the entire finance sector—toward unprecedented heights of success.