Financial Women’s Association Survey Results January 2002 Padilla Speer Beardsley

Objectives To profile the membership of the FWA for both recruitment and public relations purposes To measure member satisfaction with the organization and its programs, events and services To identify needs and issues that the FWA could or should address Compare results to survey

Methodologies Online survey distributed December 2001 to about 1,000 member addresses About 75 surveys were mailed to members without s, 6 were returned and included Closed survey January 4; 288 surveys completed (28%)

Overview Data collected on the survey fell into four areas: - Career & Employment - Issues - FWA Membership and Information Sources - Demographics

Findings Little change in demographics or issues since 1998 Majority of members (58%) work in Organizations with less than 10 employees; OR Organizations with more than 10,000 Less optimism among members for improvements in past three years Compensation gender gap is strong

Findings (cont.) Like past survey, members … Support affirmative action Believe women are paid less than men for comparable work Believe gender has held back their career Believe other women would say gender has held them back Networking and professional development are primary reasons to belong; “role model for women” moved up

Findings (cont.) Reasons to belong to FWA are “more important” than three years ago

Career and Employment

Employment status

Seeking employment

Industry

Years in finance industry

Job title

Size of organizations

Career advancement Members say they would… Assume more responsibility (85%) Take line management job (70%) Obtain more schooling (58%) Relocate (24%)

Gender balance Less access to venture capital to start a business (88%) No gender equality in determining workforce reductions (61%) Represented on corporate and non- profit boards (38% serve on at least one board)

Issues

Are things better in past three years?

Do you expect the situation to get better in next ten years?

Compared to men, women earn…

Factors holding women back in their careers…

Considerations for employment opportunities…

What age retirement for full-time employees…

Do you plan to continue working after retirement?

Benefits Big disparities in flexible benefits and telecommuting Those with access to these benefits don’t always use them

Findings Overall the members Support affirmative action Believe women are paid less than men for comparable work Believe gender has held back their career Believe other women would say gender has held them back

Financial Women’s Association and Information Sources

Rate level of satisfaction w/following aspects of FWA…

Reasons for belonging to the FWA…

Member of the FWA for how long?

Which FWA chapter are you affiliated with?

Rate importance in attending event or program…

Interest in what types of programs/events…

What aspects of Web site do you use?

Membership Findings 48% consider themselves active 50% have done business with other FWA members 82% think the program frequency is right 41% attend 3-5 programs a year 71% prefer events in Upper mid-town 86% aren’t interested in programs in NJ

Membership Findings (cont.) 70% prefer after work events 84% never participated in activities at affiliated chapters 43% interested in international 89% prefer the newsletter for communication with FWA 77% prefer for communication with FWA

Membership Findings (cont.) 30% have participated with FWA international affiliates 16% have participated in activities with other FWA chapters 16% have never visited the Web site– down from 53% in 1998

Demographics

Age

Education

Degree(s)

Marital Status

Ethnic background

2001 income before taxes

2001 household income before taxes

Number of wage earners in household…

Household’s total net worth…

Conclusions Members overall satisfied with FWA Little has changed since 1998 Compensation is still a gender issue Members still belong for networking and professional development Demographic profiles match FWA needs to recruit year old women to replace those ready to retire

Recommendations Cultivate the value of membership Emphasize networking and professional development in your programs, since they are the primary reasons for membership Keep it all business For programming topics, members really look to the FWA for highlighting finance industry and work issues, less for community or personal issues

Recommendations (cont.) Focus communication efforts on newsletter and Members prefer these methods; also use the Web site since this is growing in value and importance. One size does not fit all Provide variety of programming on business issues that reflects diverse member demographics (company size, age, income, industry)

Recommendations (cont.) Opportunity for the media The opinions of your members as leaders in the community may be of interest to the media. Identify spokespersons Define 3-5 topics – compensation, women-owned businesses and access to capital, workplace equality Update fact sheet/issue press releases or media contact Media contact/response – provide FWA point of view on business news

Questions and answers