Asian women encounter professional barriers in US finance se...| MENAFN.COM

Friday, 09 December 2022 03:25 GMT

Asian women encounter professional barriers in US finance sector


(MENAFN) Based on a new survey, women who identify as Asian Americans and Pacific Islanders (AAPI) face prejudice and racial inequities.

The analysis is based on a poll done by The Association of Asian American Investment Managers and published on Tuesday (AAAIM).

According to the report, over 60% of Asian women working in the US financial industry believe their race has hampered their careers, particularly at senior levels.

In spite of industry promises to increase diversity, "I haven't seen a big shift in the needle in terms of Asian women rising up the ranks," according to Brenda Chia, capital development chief at Paladin Capital Group, who also serves as co-chair of AAAIM's board.

The so-called "bamboo ceiling" - different individual, cultural, and organizational barriers - is seen as a possible hindrance to progressing through the management ranks by eight out of ten AAPI women polled.

“Especially when trying to move up in the ranks, the onus was on women to prove themselves,” Melissa Maquilan Radic, a former BlackRock Inc. executive whose parents immigrated to the US from the Philippines, asserted in a phone interview with Bloomberg.

“I would look at women who had similar job titles to men, and their qualifications were twice as robust.”

Racial discrimination in the US labor sector remains a major problem, particularly among Asian Americans.

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