Wall Street Says Women Worth Less as Disparity Widens
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Nancy Davis, a rising star at Goldman Sachs Group Inc., left in January 2008 after an eight-year run betting the firm’s money on derivatives to become a portfolio manager at Highbridge Capital Management LLC. She lost that job 10 months later when the hedge fund cut back in the recession.
For women in the financial-services industry like Davis, who’s still unemployed, the last few years haven’t been kind. More than five times as many women as men lost their jobs in the three years after July 2007, and pay for full-time managers compared with their male counterparts worsened between 2000 and 2007, according to U.S. government data.