How to survive the financial industry, especially for female?
Hi all,
I'm currently dealing with some challenges and would appreciate some encouragements. I've been working as a junior researcher at an asset management firm for around two years now. Unfortunately, my experience at work has been tough due to a strained relationship with my analyst, leaving me feeling unsupported and marginalized. Despite my efforts, the constant negative feedback without recognition has led to burnout and severe depression. Being one of the few female team members has made this emotional drain even more pronounced, especially because I lack social support and connections in the industry.
Reflecting on my journey, I'm starting to question if this field is the right fit for someone like me, coming from a low-income background and feeling the weight of supporting my family financially. This pressure even extends to my personal life, where I have an irrational fear about dating, feeling the need to achieve financial independence to establish equality in a relationship.
Before entering the financial industry, I saw myself as someone bubbly, charismatic, enthusiastic, and empathetic, always eager to help and care for others. However, the demands of my job have left me emotionally detached and struggling to trust people. Additionally, I've noticed that my personality tends to attract subtle bullying - not knowing how to set boundaries and deal with office politics.
In the long term, I aspire to work on projects that make a positive impact on people's lives, drawing from my own difficult experiences. However, in the short term, achieving financial stability is crucial as my family relies on me. I'm determined to navigate this challenging industry and would greatly appreciate the opportunity to connect with others who share similar backgrounds or are willing to share your experiences with me.
Given your lack of support, and hostile work environment, you should be commended for surviving two years. Look into having a support system, either thru family or friends. Once the market picks up, look for better opportunities. More than the money you bring in, your parents must be proud that you hold a job in a demanding field. Don't quit on your aspirations or your belief in yourself!
Anytime you see a female in this industry at the senior roles, you know they are tough as nails. It sucks to be in a male dominated industry as a chick, and have heard stories from back in the day about how a close family friend who worked in the industry got dragged along to strip clubs for clients along with her male only team. In the long run, she made it big and is highly respected. As a dude, I can't really offer the best advice, but I would recommend finding one good guy (potentially gay) who won't hit on you, treat you with respect, and is a good person. All you need is one person, and it will make a world of difference. Also, I don't know if you know this, but a lot of guys are intimidated by women in power, and they will try to bring you down by "subtly" making you feel inferior, or like you don't belong to the all boys club. You have to develop tough skin, and prove them wrong with your work ethic and results. Don't be a pushover, but also don't be too thin-skinned. Definitely don't be too sensitive because guys see that as a weakness, but stand up for yourself in the very rare occasion to prove that you shouldn't be fucked with. Men bond through competition and insulting eachother -- sometimes jokingly, other times not so much. You have to adapt and change your mindset, and don't mind what others say too much. So don't wilt under the pressure, and rise to the occasion. Believe in yourself because you deserve to be where you are and more.
My sister is in a similar spot to you, and that's why I want to give my two cents and offer my empathy.
Best of luck. Go kill it.
Navigating the financial industry as a woman, especially when facing challenges like those you've described, requires a multifaceted approach. Here are some strategies and insights based on experiences shared in the Wall Street Oasis community:
Seek Mentorship and Support Networks: It's crucial to find mentors and allies within the industry. This could be through formal programs at your firm or informal relationships. Look for both male and female mentors who can provide guidance, support, and potentially advocate for you. Additionally, joining networks for women in finance can provide a community of peers who understand your challenges and can offer support and advice.
Develop Resilience and Assertiveness: The financial industry can be demanding and sometimes harsh. Developing resilience through self-care, setting boundaries, and learning assertiveness can help you navigate office politics and prevent burnout. It's important to communicate your needs and achievements clearly and stand up for yourself when necessary.
Continuous Learning and Skill Enhancement: Stay competitive and confident by continuously updating your skills and knowledge. This could be through formal education, certifications like CFA, or informal learning such as industry webinars and reading. Being well-prepared can also boost your confidence in your professional role.
Document Your Achievements and Feedback: Keep a record of your contributions, achievements, and any positive feedback you receive. This can be useful not only for performance reviews but also for reminding yourself of your capabilities during tough times.
Explore Flexible Work Environments: If the culture at your current firm is not supportive, consider exploring other firms or roles that are known for their inclusive culture and better work-life balance. Some firms are more progressive in their approach to diversity and inclusion, which might offer a more supportive environment.
Personal Development: Since you've mentioned the impact of your job on your personality, engaging in activities that reinforce your natural traits like empathy and enthusiasm could be beneficial. This might include volunteer work, hobbies, or therapy, which can also help in dealing with depression and burnout.
Financial Planning: Given your financial responsibilities, getting professional advice on personal finance management could alleviate some of the stress. This might include budgeting, saving, and investing strategies that secure your financial independence.
Remember, it's important to prioritize your mental and emotional well-being. If you continue to struggle with severe depression, professional help such as counseling or therapy can be crucial. You're not alone in this journey, and many have navigated similar paths and found fulfilling careers in finance.
Sources: Why don't more women go into PE?, Intern complaining about sexism in the office, To all the women in banking, To all the women in banking, Black Women in IB - Experiences?
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