The “alpha-male” culture in some financial services organisations is the “overwhelming” reason women give for not wanting to take on senior jobs in the sector, MPs have reported.
Firms especially need to change their bonus culture, the Treasury Committee said, as it is perceived men argued more forcefully and got higher rewards.
MPs recommended bonuses should instead be assessed against “clear criteria”.
Industry body UK Finance said progress had been made but more had to be done.
Committee chairwoman Nicky Morgan said “Firms should focus on changing the culture in financial services firms, which remains a deterrent for women, especially the bonus culture.