Gender and Job Performance: Evidence from Wall Street
We study the relation between gender and job performance among brokerage firm equity analysts. Women's representation in analyst positions drops from 16% in 1995 to 13% in 2005. We find women cover roughly 9 stocks on average compared to 10 for men. Women's earnings estimates tend to be less accurate. After controlling for forecast characteristics, the difference in accuracy is roughly equivalent to four years of experience. Despite reduced coverage and lower forecast accuracy, we find women are significantly more likely to be designated as All-Stars, which suggests they outperform at other aspects of the job such as client service.
We thank Stanimir Markov for comments. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.
Clifton Green & Narasimhan Jegadeesh & Yue Tang, 2009. "Gender and Job Performance: Evidence from Wall Street," Financial Analysts Journal, vol 65(6), pages 65-78.