LOS ANGELES, February 21, 2006 -- While the vast majority of executive women in finance are satisfied professionally and would recommend a finance career to others, far fewer plan to stay in the finance function until retirement, according to a new report by Korn/Ferry International (NYSE:KFY), the premier provider of executive search, outsourced recruiting and leadership development solutions.
Entitled Executive Women in Finance: Unique Challenges and Opportunities, the report is based on a survey of nearly 100 female finance executives to better understand their unique professional experiences. The research covers a wide array of issues including: career satisfaction and loyalty; key success drivers; the impact of gender on success in the finance field; sacrifices made to achieve success; mentorship; and work/life balance.
"Executive women in finance are largely satisfied with their careers -- but they also want to contribute in ways other than finance, such as operations or general management," said Charles B. Eldridge, managing director of Korn/Ferry´s Financial Officers Practice. "Our survey respondents clearly intend to continue achieving throughout their careers, despite the tough juggling act between work and family that many of them face."
Key findings include:
- While 90 percent of executive women in finance are satisfied professionally and 95 percent would recommend a finance career to others, only 61 percent plan to stay in the finance function until retirement.
- Female finance executives rate non-finance factors -- such as interpersonal skills and confidence -- highest on the list of attributes contributing to their career success.
- Two-thirds of respondents feel that their gender has either been an asset or a non-factor in their career progression. However, the majority of respondents also feel that there is a glass ceiling --one that has personally impacted nearly half of them.
- Half of respondents feel that their work has impacted their personal relationships. Exercise and outside interests were noted as the sacrifices made most often in pursuit of career success.
- The vast majority of respondents identify a male as their most influential mentor.
Methodology
This survey was conducted online in September and October 2005. Of the nearly 100 respondents, three-quarters of respondents hold an MBA or equivalent, half are certified accountants and the majority work for large companies ($1 B).
Executive Women in Finance: Unique Challenges and Opportunities is available to download from the Korn/Ferry Web site at www.kornferry.com.
About the Financial Officers Practice
Korn/Ferry International´s Financial Officers Practice specializes in the recruitment of a broad range of financial roles, including Chief Financial Officer, Corporate Controller, Treasurer, Chief Audit Executive and leading roles in Tax, Strategic Planning and Divisional Finance. Korn/Ferry´s 50-member team is dispersed around the world to serve organizations ranging from Fortune 500 players to closely-held companies to early-stage and pre-IPO start-ups across a wide variety of industries. To register with Korn/Ferry, visit www.financialexecutives.kornferry.com.
About Korn/Ferry International
Korn/Ferry International, with more than 70 offices in 35 countries, is the premier provider of executive search, outsourced recruiting and leadership development solutions. Based in Los Angeles, the firm partners with clients worldwide to deliver unparalleled senior-level search, management assessment, coaching and development, and recruitment outsourcing services through its Futurestep subsidiary. For more information, visit the Korn/Ferry International Web site at www.kornferry.com or the Futurestep Web site at www.futurestep.com.
Sabrina Tanenbaum
(212) 576-2700, x236
stanenbaum[at]goodmanmedia.com