The mid-career gap remains one of the biggest roadblocks to achieving gender parity in senior leadership roles within the investment industry. While entry-level hiring initiatives have improved representation, women continue to drop out or stagnate at the mid-career stage—preventing them from reaching the executive suite.
The Investor Leadership Network (ILN) and Diversio analyzed the underlying causes of this stagnation and identified tangible solutions that asset management firms can implement to accelerate women’s advancement.
Download the full report: A global perspective
This comprehensive research was conducted in partnership with the Investor Leadership Network (ILN)—is now available for download. It provides a deep dive into barriers, proven strategies, and case studies from leading firms worldwide, equipping organizations with the tools they need to advance women in leadership.
Who should read this?
- Senior leaders & DEI professionals in the UK, Nordics, Canada, USA, Australia & South Africa.
- Asset managers & investment professionals seeking to close the gender gap in leadership.
- HR & Talent leaders looking to implement high-impact retention & sponsorship programs.
📥 Download the Full Report Now
The gender leadership gap: By the numbers
Women make up only 20% of senior private equity (PE) roles globally, and a mere 10% of PE firms have a female managing partner or equivalent (McKinsey, 2023). In Canada, just 9% of private equity partners are women, while representation at junior levels stands at 28% (CVCA-Diversio Report).
The ILN’s benchmarking data shows some improvement:
- 39% of executive roles at ILN firms are held by women (vs. 24% industry average).
- 32% of senior leadership positions at ILN firms are occupied by women (vs. 21% industry average).
- 29% of ILN firms’ risk-taking professionals (portfolio managers, traders, investment analysts) are women (vs. 18% industry average).
These numbers indicate progress but not parity. The mid-career gap remains a crucial inflection point that determines whether women advance—or leave.
Why women drop out
The mid-career phase (8-15 years of experience) is when professionals are expected to step into leadership roles. Yet, women face structural, cultural, and personal barriers that slow their progress:
1. Work-life balance & caregiving responsibilities
Many women reduce hours or take career breaks due to caregiving responsibilities. Since asset management rewards long hours and live deal participation, women who take time off often face slower career progression or miss out on high-impact projects.
2. Lack of sponsorship & mentorship
While many firms offer mentorship programs, research shows that sponsorship—where senior leaders actively advocate for women—is far more effective in advancing careers. Women often lack direct sponsors, limiting their access to leadership opportunities.
3. Cultural & organizational barriers
- Male-dominated informal networks often exclude women from key career-boosting opportunities.
- Promotion criteria favor traditionally masculine leadership traits (assertiveness, risk-taking), undervaluing more collaborative leadership styles.
- Unconscious bias in hiring and promotions results in fewer women being considered for top roles.
Case Studies: Proven strategies to close the mid-career gap
Several ILN and Diversio member firms have implemented high-impact initiatives that tackle mid-career challenges head-on.
1. AIMCo – Parental Leave Program
Barrier addressed: Career penalties associated with parental leave.
- Solution: 90% salary top-up for 20 weeks (birthing parents) & 8 weeks (non-birthing parents).
- Impact: Increased uptake of leave among men, reducing the career penalty for women. Read more.
2. Ninety One – Maternity Coaching Program
Barrier addressed: Lack of career support during and after maternity leave.
- Solution: Coaching for women pre-leave, during transition, and post-return.
- Impact: Women reported greater confidence & career continuity post-leave. Read More.
3. M&G – Gender-Neutral Paid Family Leave
Barrier Addressed: Unequal caregiving burdens limiting women’s advancement.
- Solution: 26 weeks of fully paid parental leave for all employees.
- Impact: Increased leave uptake among men, normalizing caregiving responsibilities. Read More.
4. OMERS – Women in Leadership (WIL) Program
Barrier addressed: Lack of sponsorship & leadership development for mid-career women.
- Solution: 9-month program with coaching, networking, and executive sponsorship.
- Impact: 51% of participants promoted post-program. Read More.
5. McRock Capital – Executive Leadership Program for Women in VC
Barrier Addressed: Low representation of women in GP roles.
- Solution: Leadership training + board position exposure.
- Impact: 66% of McRock GPs are now women. Read More.
Key takeaways
For firms looking to move the needle, these strategies have proven effective:
- Flexible work policies: Move beyond formal policies, leaders must model flexible work to create cultural change.
- Intentional sponsorship: Assign senior sponsors to high-potential women & track promotion rates.
- Transparent promotion criteria: Define clear leadership pathways to eliminate ambiguity & bias.
- Parental leave for all: Gender-neutral parental leave policies prevent career penalties for women.
- Leadership training: Invest in targeted development programs for mid-career women.
By addressing these barriers, firms can retain top talent, improve leadership diversity, and drive better business outcomes.
Ready to take action?
Download the full report now and schedule a 15-min complimentary call to explore how Diversio’s can help your firm close the mid-career gap & build an inclusive leadership pipeline. Let’s build workplaces where talent thrives—regardless of gender.
