I came across this article on Reuters, which discusses a recent study that concluded that women with higher levels of testosterone choose financial careers more often than their normal estrogen loving female colleagues. The study looked at 550 students from the University of Chicago, who offered saliva samples for the study. The article also details that men tend to be riskier than women, and it might be testosterone that is driving this.
Overall I wouldn’t say that I am surprised with the findings of the study, but I am going to take issue with one of the statements made. The study cites that these women are more likely to take jobs in trading or investment banking as evidence that they take more risks. While I might put trading in the risky category of jobs, I don’t know if I would say that investment banking is a risky career decision. The field might have experienced a lot of lay offs during the past year, but the main business of raising capital and completing M&A transactions isn’t exactly like going long a ton of CDOs. But…that is just my two cents.
In conclusion, the next time you see someone who looks like this walking around the trading floor, you will know why.