How T. Rowe Price's Stock Pitch Workshop for Women Promotes Gender Equity
12/14/2018 | By Corporate Editorial Group
When it comes to women in the workplace, the financial services industry has a problem: A study by Morningstar found that fewer than 10 percent of managers of U.S.- based mutual funds and exchange-traded funds are female. That's why T. Rowe Price is proactively working to increase the number of women in the pipeline by reaching out to women entering MBA programs.
One way T. Rowe Price is doing this is by offering an annual Stock Pitch Workshop for Women. The program's goal is to help women build the skills and confidence they need to interview for asset management positions.
Why Offer a Stock Pitch Workshop for Women
The stock pitch is a critical component of interviewing for asset management positions—and one of the biggest deterrents to women when it comes to pursuing this career path.
“We have heard over the years that a reason women have not pursued investment management is the stock pitch. Many women feel intimidated and that they have not had enough experience with it early on," says Naomi Garvin, diversity recruitment program manager at T. Rowe Price.
This lack of confidence creates a barrier to inclusion.
“Research shows that men only need to feel 30 to 40 percent confident that they can do something to go after an opportunity, while women want to be 80 to 90 percent sure that they will be successful. This then influences behaviors around taking calculated risks," Garvin continues. “We as a firm are trying to close that gap, to show them the skill set needed to build a stock pitch. But part of the weekend is also about building a sense of self-confidence needed to deliver a pitch with conviction."
The Stock Pitch Workshop offered by T. Rowe Price helps women build the requisite skills and confidence through a weekend of panel discussions with T. Rowe Price executives and a day-long, intensive training on how to create a successful stock pitch. The process takes attendees through each step— from primary research and modeling to tips on delivery and presentation.
With the right skill set and enough confidence, women can feel empowered to pursue a career path that will ultimately require them to deliver a stock pitch as part of a job interview.
1See p. 6 of report
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