Factors Affecting the Career Progression of Individuals to the Top Echelons of the Financial Sector in Pakistan: Moderating Role of Gender

Abstract

This study examines the factors affecting career progression of individuals while considering gender as moderator in the financial sector of Pakistan. The objective of this study was to determine the antecedents of career progression and whether the proposed impacts of these antecedents are different for males and females. A holistic model of career progression based on five theoretical perspectives including career progression theory, big five personality traits, collective organizational culture, social capital theory (networking, mentoring and training and development) and social role theory was proposed. While using mixed method research approach explanatory sequential research design was adopted. The research is based on philosophical pragmatism paradigm. For quantitative analysis primary data from 837 respondents belonging to public and private banking sector of Pakistan were collected using adopted survey questionnaire and for qualitative analysis Athena doctrine and semi structured interviews from 30 respondents were conducted. The quantitative analysis identified that subjective career progression is most significantly affected by networking, collective organizational culture and training and development while objective career progression is affected by mentoring and networking of individuals. Moderating impact of gender through group difference test analyzed the relationship; Results identified that for both females and males, significant factors for subjective career progression are networking, training and development and collective organizational culture. However, females’ objective career progression is not affected by any factor. Similarly, for males, in objective career progression networking and mentoring are significant antecedent. The results of qualitative analysis identified that it is not the gender which has impact on the career progression of an individual rather it is the inherent traits of that individual. Females having masculine leadership traits is successfully breaking the glass-ceiling and reaching to the top while males having feminine leadership traits face the glass ceiling. The significance of the study is derived from the problems individuals are facing while moving up the corporate ladder and reaching to the top rung of the corporate ladder of the financial sector in Pakistan.