New Study Highlights Overwork Disadvantages for Women

New Study Highlights Overwork Disadvantages for Women

Americans are known for logging more hours at work than most other developed nations, often linked to higher raises and faster promotions. However, a recent study published in Social Psychology Quarterly reveals how this overwork culture significantly disadvantages women in two key ways, whether they choose to overwork or not.

The study involved 230 U.S. employees who reviewed two hypothetical worker profiles with identical performance reviews but different working hours—one at 40 hours a week, and another at 60. Despite similar performance levels, the worker logging 60 hours was favored nearly 89% of the time for promotions and management training, indicating a strong overwork premium.

This bias puts women at a disadvantage for several reasons:

  • Women and Unpaid Labor: Women often engage in more unpaid household and childcare labor, which can limit their availability for extended work hours.
  • Efficiency Overlooked: Even if women complete the same workload more efficiently in fewer hours, their efficiency is undervalued compared to longer working hours.
  • Gender Bias in Overwork: When women do work longer hours, the study found they are less likely to receive the same rewards as men, who are often seen as more committed.

The findings suggest a critical need for organizations to move away from hours-based performance evaluations to more objective and results-oriented metrics. This shift could enable fairer assessments and help close the gender gap in workplace rewards. Moreover, promoting more balanced work hours and reducing the emphasis on overwork could benefit all employees’ health and overall workplace productivity.

For more detailed insights, read the full article: https://www.forbes.com./sites/michelletravis/2024/04/09/why-women-cant-overwork-themselves-out-of-workplace-inequality/?sh=2fe893e5485b

ING Americas & RTSWS Celebrate FinLit Month with Launch of Reimagined ACC

ING Americas & RTSWS Celebrate FinLit Month with Launch of Reimagined ACC

ING’s Transformational Grant to RTSWS’s Career Platform Streamlines and Automates Features Better Serving Girls with Tailored Access to Leadership, Mentoring and Financial Services Roles

NEW YORK, April 4, 2024 – Rock The Street, Wall Street (RTSWS), the nonprofit dedicated to bringing the world of financial and investment mathematics to high school girls, is proud to announce a significant milestone one year into its successful rebuild of its Alumnae & Career Center with significantly increased efficiency, functionality and user experience. This innovative overhaul was made possible by a grant from ING Americas and ING’s global community investment fund, marking a critical step forward in providing access and opportunity to young women entering the workforce.

With increased user benefits and more robust functionality, the revamped Career Center incorporates innovation at each level with automated, trackable, user-friendly offerings. The career and leadership platform also offer sponsor firms one-step access to posting internships, job shadows, entry-level, and early career roles. The RTSWS Students gain clarity and access around those early professional opportunities as well as extended programming in RTSWS leadership series, networking events, and mentor matching.

“We have a natural alignment with Rock The Street, Wall Street, which is helping to bring both gender and racial equity to the financial markets,” commented Andy Schaeffer, CEO of ING Americas. “At ING, we are focused on guiding and supporting people towards stronger financial health through financial literacy education and career development. With this grant, we can ensure that the training and experience RTSWS Alumnae receive continues to be supported as they enter the workforce, increasing the number of women in finance and math-related jobs.”

The Career Center provides comprehensive support to RTSWS alumnae and students as they navigate their collegiate and career paths, as many families lack that direct experience in the home. More than 70 financial firms post job openings on the platform, with some also providing career fairs, interview training, and recruitment events for these cohorts, fostering ongoing networks and support as they advance in their careers.

“I’m delighted that ING is helping women take their first steps in establishing financial careers by providing access to firms and networking opportunities,” commented Katharyn Meyer, Head of Financial Markets, ING Americas, and a lead sponsor of this partnership. “As I’ve shared, my love of math and finance has been encouraged by my teachers, parents, and mentors throughout my academic and professional journey. It is my hope to pass forward this gift of engagement and support to others with the help of ING and industry colleagues.”

Rock The Street, Wall Street Founder & CEO Maura Cunningham, with 25 years of Wall Street experience, remarked, “Understanding math and the power it can have offers these talented students a seat at the table, diversifying and strengthening the workforce. Thanks to ING, we’re increasing workforce readiness and future proofing this training through bringing together technology, leadership and investment mathematics. We all recognize, STEM professions are exciting, purposeful, and can lift families up in one generation.”

Raising Awareness during Financial Literacy Month, RTSWS is participating in several industry events, thanking volunteers, and recognizing students and alumnae. Most RTSWS student cohorts have Spring Mentoring Sessions throughout April and are registering on the reimagined Alumnae & Career Center.

Maura Cunningham kicks off the Alumnae & Career Center opportunities via recent events:

 – CFA Society Toronto webinar (replay available) 

 – London Bloomberg Day of Insight to Finance for secondary school girls

 – New York Student CEO event, bringing together Student Leaders

 – RTSWS has relaunched its website and supporting Career Quiz 

 – Upcoming: Chat with Sallie Krawcheck CEO & Founder of Ellevest, on the key to financial & investment understanding; later in the month (more to come!)

RTSWS COO Ashley Leftwich highlights steps to expanding the talent pipeline with the power of mathematics and the Alumnae & Career Center:

  – Share the innovations of the Alumnae & Career Center at the recent PREA, Pension Real Estate Association’s Spring Conference

– Discuss benefits of Math, Access, and Community in recent radio interview

 – Spotlight RTSWS Alumnae Council, encouraging current RTSWS students to participate

The relaunched offering was tested by RTSWS Students in Los Angeles, San Francisco and Portland. In New York, students looked toward access and the benefits of bringing RTSWS Students together

“As we raise awareness during Financial Literacy Month, we are grateful to our sponsors and volunteers for helping our remarkable students and alumnae,” said Ashley Leftwich, RTSWS COO. “We know there is a long road ahead, so it’s great to reflect on our wins as we move forward together. This strategic grant from ING Americas helps RTSWS grow with our students and improve the young women’s experiences as they work hard to enter the workforce.”

Rock The Street, Wall Street is now in more than 60 high schools across 30 cities and has engaged more than 6,000 girls through its program. Completing the program, the young women’s financial and investment concepts improves by an average of 70%, and their pursuit of a finance, economics, or related degree is 5x higher than the national average. 73% of RTSWS students are from BIPOC populations, and 50% are from schools with free and reduced lunch. Rock The Street, Wall Street is a 501c3 and operates in the US, Toronto, and London.

About ING Americas

ING Americas is the brand name of ING’s wholesale business in the Americas region and a part of ING Group N.V., a global financial services company of Dutch origin with a network spanning the Americas, EMEA, and APAC. ING Group shares are listed on the exchanges of Amsterdam, Brussels, and the New York Stock Exchange.

About Rock The Street, Wall Street

RTSWS is an innovative nonprofit dedicated to bringing the world of finance to high school girls, providing financial and investment literacy before college and career selections are made. Founded by former Wall Street executive Maura Cunningham, RTSWS has expanded internationally to bring STEM to young women in more than 60 high schools across 25 cities in the US, London and Toronto. The programs leverage women leaders in the financial industry as volunteer instructors and coaches, and firms as sponsors, helping students see themselves in key roles, expanding their reach, and offering them the social capital and a flight path into STEM careers.

A Strong Impact on Girls

A Strong Impact on Girls

The Marshall Fundamental Girls Build LA Club recently hosted a Lunch and Learn event, welcoming over thirty young women eager to learn about civic engagement and female empowerment. The event featured activities and discussions aimed at empowering young women and promoting community involvement. Representatives from Rock The Street Wall Street‘s Financial Literacy Club and Women in Business Club were invited, highlighting the importance of mentorship and community support in shaping the future leaders of tomorrow.

RTSWS Chosen by Jenny Johnson in Bloomberg’s #BracketsForACause Initiative

RTSWS Chosen by Jenny Johnson in Bloomberg’s #BracketsForACause Initiative

Bloomberg’s recent #BracketsForACause initiative has garnered attention worldwide, showcasing the generosity and commitment of global leaders in philanthropy. Each leader pledged $20k, resulting in an impressive $1 million impact. Among the notable figures is Jenny Johnson of Franklin Templeton, who selected Rock The Street, Wall Street (RTSWS) as her chosen cause.

The initiative, spearheaded by Bloomberg, aims to support various charitable organizations while adding an exciting twist to the tradition of March Madness. Johnson’s selection of RTSWS underscores the organization’s dedication to bringing the M in STEM to diverse high school girls, with a focus on financial and investment fundamentals.

Other leaders participating in the initiative include David Solomon of Goldman Sachs, supporting the Food Education Fund, Ken Griffin of Citadel, championing Achieve Miami, and Peter T. Grauer of Bloomberg, who backs The Michael J. Fox Foundation for Parkinson’s Research. The collective impact of these contributions is significant and demonstrates the power of philanthropy to effect positive change.

RTSWS expresses profound gratitude to Jenny Johnson and all the leaders involved in the initiative for their generous support. Their commitment not only amplifies the mission of RTSWS but also inspires hope and empowerment among young women pursuing careers in finance and STEM.

Additionally, special recognition goes to the BBG team for their outstanding work on the interactive piece: Bloomberg’s 2024 March Madness Brackets for a Cause. Michael Boyle, Julian Burgess, Brittany Harris, Jeremy Diamond, and Cédric Sam are commended for their efforts in creating an engaging platform for charitable giving.

As RTSWS joins in the excitement of March Madness, the organization extends its heartfelt appreciation to Jenny Johnson and all the leaders for their unwavering support in making a difference in the lives of young women around the world.