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Women in Finance Must Ask for Promotion, Unlike Men: Survey

  • Australian survey shows men offered promotions much more often
  • On average men in fund management paid twice as much as women
Business women using computer and calculator during note some data on notepad for calculate financial at home office

Photographer: Natee Meepian/iStockphoto/Getty Images

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Far fewer women than men are promoted in the finance industry unless they first ask for seniority, a sign of institutional gender bias, according to a new study in Australia.

The survey of 2,000 finance industry professionals showed 76% of men were offered a promotion at least once without requesting it, compared with 57% of women. The study was compiled by lead researchers Ardea Investment Management and Australian National University in conjunction with industry experts.