Taking Charge of Your Career: The Unwritten Rules of Success Deborah Campbell Senior Director, Catalyst Women in ETFs January 12, 2017

Women in the S&P 500

Women in Finance

Systemic Barriers Persist Gender-based stereotyping / bias Lack of role models Exclusion from informal networks

Stereotyping and Bias: Undermining Success

Ken Chennault, CEO American Express

Mary Barra, CEO General Motors

Debra Reed, CEO Sempra Energy

Francisco D’Souza, CEO Cognizant

Safra Catz, CEO Oracle

Indra Nooyi, CEO Pepsico

Marillyn Hewson, CEO Lockheed Martin

Ajaypal Singh Banga, CEO Mastercard

Ursula Burns, CEO Xerox Corporation

Rules for Advancement: The “Ideal” Worker Produce results / exceed performance expectations Actively seek high-profile assignments. Rub shoulders with influential leaders. Communicate openly and directly about career aspirations. Seek visibility for your accomplishments. Let supervisor know of your skills and willingness to contribute—and work long hours. Continually seek out new opportunities. Learn firm-specific politics and unwritten rules. Unafraid to ask for help.

The Myth of the Ideal Worker Plan your career 2-3 years out! Make your achievements visible; get credit for your work! Get trained through experience, asking for a variety of work assignments to build skills and experience! Gain access to power by getting yourself introduced to people with influence! Blur-work life boundaries—make sure your boss knows you’ll work long hours and weekends! Seek advice from coworkers, family and others when needed about how to advance your career! Scan for opportunities inside the company. Monitor those job postings. Get formal training. Scan for opportunities outside the company—keep up your network, stay in touch with headhunters.

What Worked for Men Plan your career 2-3 years out! Get trained through experience, asking for a variety of work assignments to build skills and experience! Plan your career 2-3 years out! Make your achievements visible; get credit for your work! Gain access to power by getting yourself introduced to people with influence! Blur work-life boundaries—make sure your boss knows you’ll work long hours and weekends! Seek advice from coworkers, family and others when needed about how to advance your career! Scan for opportunities inside the company. Monitor those job postings. Get formal training. Scan for opportunities outside the company—keep up your network, stay in touch with headhunters.

What Worked for Women Make your achievements visible; get credit for your work! Plan your career 2-3 years out! Get trained through experience, asking for a variety of work assignments to build skills and experience! Gain access to power by getting yourself introduced to people with influence! Blur work-life boundaries—make sure your boss knows you’ll work long hours and weekends! Seek advice from coworkers, family and others when needed about how to advance your career! Scan for opportunities inside the company. Monitor those job postings! Get formal training. Scan for opportunities outside the company—keep up your network, stay in touch with headhunters!

What Explains the Difference? Scan for opportunities outside the company—keep up your network, stay in touch with headhunters! Make your achievements visible; get credit for your work! Gain access to power by getting yourself introduced to people with influence! Gain access to power by getting yourself introduced to people with influence! Blur work-life boundaries—make sure your boss knows you’ll work long hours and weekends!

Catalyst Research Study Myth of the Ideal Worker: Does doing all the right things really get you ahead? © Catalyst 2015

Career Advancement Profiles High CLIMBERS HEDGERS 31% of Women 32% of Men 26% of Women 25% of Men Use of Internal Strategies COASTERS SCANNERS 14% of Women 19% of Men 28% of Women 24% of Men Low High Use of External Strategies © Catalyst 2015

Research Findings Women and men used the same strategies equally Regardless of strategy, men were more successful than women Climber women were most successful Hedger men were most successful

What can you do? Increasing your visibility is as important to advancement as producing results Make your achievements visible; get credit for your work! Gain access to power by getting yourself introduced to people with influence!

Make yourself known “…many of us fail to recognize the value of self-promotion in maneuvering today’s volatile and unpredictable workplace. Given the constant changes—mergers, management shifts, downsizing—you simply must let people in the organization know who you are and what you are accomplishing.” -Peggy Klaus, Author of Brag! The Art of Tooting Your Own Horn Without Blowing It

Encourage Sponsorship Gain Visibility and Credit Access People with Influence Learn Firm’s Unwritten Rules Exceed Performance Expectations Sponsors Mentoring ≠ Sponsoring

Mentoring and Sponsorship A mentor will listen and speak with you, but a sponsor will talk about you behind closed doors at the decision-making table.

Tips for Attracting a Sponsor Be Seen Work on projects with potential sponsors Make yourself and your accomplishments known Take Risks You don’t need to satisfy all criteria for a new opportunity Stretch yourself and give yourself room to grow Ask for What You Want Identify your priorities and potential growth opportunities Articulate them to your manager and potential sponsors Start with small asks of a sponsor – build up their sponsorship

Paying it Forward Paying it forward pays back, literally $25k more over a 2-year period Women developing other talent advanced faster Women were more likely to develop others

Key Takeaways Women and men have different experiences at work Systemic barriers explain most differences Actions to take Learn the barriers and ways to address them Act to support your own career Act to support other women’s careers Act to support organizational change

What actions will you take for the future of leadership in YOUR firm?