Sallie Krawcheck On How To Fight Gender Bias At Work

Women don’t need to be fixed they just need to take back their power, says Sallie Krawcheck the former CEO of Merrill Lynch Wealth Management and CFO of Citigroup.

Krawcheck has first-hand experience holding her own as one of the few female executive leaders on Wall Street. She is now the founder of Ellevest and Ellevate, the investment and networking platforms, respectively, tailored to women.

She openly shares her experiences with inequality and how women need to "Own It " at work.

Michelle King: How do you think workplaces are changing and what is the impact on women?

Sallie Krawcheck: The world is really coming our way. The days of command and control style are numbered. I think about when I ran Merrill Lynch and I had all the data and information nobody else did. You could run things like a military operation.

Today the information is so freely available. Everyone has it. So it moves from command and control to collaboration, coordination and communication. All the things that research would indicate women are quite good at.

King: What more could be done to progress women at work?

Krawcheck: The progress that we have made has stalled but the progress has been dramatic. I am the first-generation female colleague graduate. But it is not enough that we do great. We need to have our voices heard.

Women don’t need to be fixed they just need to take back their power, says Sallie Krawcheck the former CEO of Merrill Lynch Wealth Management and CFO of Citigroup.

Krawcheck has first-hand experience holding her own as one of the few female executive leaders on Wall Street. She is now the founder of Ellevest and Ellevate, the investment and networking platforms, respectively, tailored to women.

She openly shares her experiences with inequality and how women need to "Own It " at work.

Michelle King: How do you think workplaces are changing and what is the impact on women?

Sallie Krawcheck: The world is really coming our way. The days of command and control style are numbered. I think about when I ran Merrill Lynch and I had all the data and information nobody else did. You could run things like a military operation.

 

Today the information is so freely available. Everyone has it. So it moves from command and control to collaboration, coordination and communication. All the things that research would indicate women are quite good at.

King: What more could be done to progress women at work?

Krawcheck: The progress that we have made has stalled but the progress has been dramatic. I am the first-generation female colleague graduate. But it is not enough that we do great. We need to have our voices heard.

King: How can women do to support each other at work?

Krawcheck: Give each other feedback. We women don’t get as much feedback in the office as men do. The feedback we do get tends to be more about our interpersonal style than our craft.

Just give each other feedback in the moment. Like hey your presentation could have been better if you had done xyz. We typically apologize or explain why we are giving feedback but if you do it in a fact base way it is tremendously helpful.

King: What about at home. Do you think equality begins there?

Krawcheck: For sure it does. I have one of the most woke husbands around but it is still not even in my household.

 

It is often simple but important things. Like when my daughter is late for her curfew it is still me who is up late sweating. It (equality) is a housework thing. It can stand in the way because it can be exhausting.

King: What advice do you have for women wanting to overcome bias at work and succeed in leadership positions?

Krawcheck: Hard work matters. I have found that hard work and success are positively correlated. I also recognize that we are so fortunate to have these jobs and do what we are doing.

I don’t think I am successful because I got lucky. No. I own it. I worked hard. But there was a fundamental roll of the dice, which meant that I got parents who could provide and give me a good education. This (gratitude) is what kept me going, even when I got fired.