Mothers in Finance: Surviving and Thriving

Abstract

This article explores two dimensions of well-being among five hundred finance managers and professionals in a large firm: higher income, which we regard as a proxy for career success, and work-family balance. These dimensions are partially incompatible: longer work hours are associated with higher earnings and with intensified conflict. Mothers are more likely than fathers to experience work-family conflict. Work that is overwhelming and unpredictable can exacerbate conflict, while workplace flexibility can alleviate it. Among men, using dependent care policies is associated with lower earnings. We find an earnings gap between men and women in the sample but no earnings penalty for mothers relative to other female respondents. Although women are less likely than men to combine parenting with careers at this firm, the mothers still at the firm may be unusually successful compared to their female coworkers.