Disappering Bank Teller Jobs Threaten Women''s Advancement
For generations, women have entered the finance industry by becoming bank tellers. Now that path is disappearing. The number of tellers -- a job in which four out of five positions are held by women -- has dropped more than 20% in the U.S. and Canada in the past decade as transactions move from branches to mobile phones. The figure, already projected before the pandemic to fall further over the next 10 years, may decline even faster after COVID-19 lockdowns accelerated the adoption of digital banking. Technological advances are eliminating the need for bank tellers, threatening an entry point for women into the male-dominated industry which has sought to promote more females to leadership roles. While the climb remains steep, some financial companies have managed to improve the gender balance in their executive ranks. Women hold 51% of entry-level positions and 38 per cent of senior-management jobs in the banking and consumer-finance industry in the U.S., according to a report last year from McKinsey Co.
Disappering Bank Teller Jobs Threaten Women''s Advancement
For generations, women have entered the finance industry by becoming bank tellers. Now that path is disappearing. The number of tellers -- a job in which four out of five positions are held by women -- has dropped more than 20% in the U.S. and Canada in the past decade as transactions move from branches to mobile phones. The figure, already projected before the pandemic to fall further over the next 10 years, may decline even faster after COVID-19 lockdowns accelerated the adoption of digital banking. Technological advances are eliminating the need for bank tellers, threatening an entry point for women into the male-dominated industry which has sought to promote more females to leadership roles. While the climb remains steep, some financial companies have managed to improve the gender balance in their executive ranks. Women hold 51% of entry-level positions and 38 per cent of senior-management jobs in the banking and consumer-finance industry in the U.S., according to a report last year from McKinsey Co.