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Parental Guidance

Parental Guidance - Parental Guidance Sallie Krawcheck on...

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APRIL 11, 2011 Parental Guidance Sallie Krawcheck on getting to the top as a working mother Many people consider Sallie Krawcheck the most powerful woman on Wall Street. Currently the president of global wealth and investment management for Bank of America Corp., she has also held senior positions at Citigroup and, before that, at Sanford C. Bernstein & Co. She talked with The Wall Street Journal's Alan Murray about the challenges of getting to the top as a working mother. Here are edited excerpts from their conversation. MR. MURRAY: How did you do it? How did you manage to get to where you are in such a male- dominated industry as Wall Street? MS. KRAWCHECK: There is absolutely nothing that beats hard work. You hoped that when you were coming out of college, you were the smartest. It turned out none of us are. But I could sure outwork a lot of folks. And by working very hard, by finding what the points of impact were in different businesses, by really focusing on the client and driving through with some hard work, you can certainly make it. But the title here is being a working mother as an extreme sport. And I think there's no doubt that bringing up the kids, having a family life and also having a full-time job on Wall Street is as extreme as it gets. MR. MURRAY: When you look at Wall Street, how much of the problem of women advancing is institutional, structural barriers? And how much of it is the personal—"Hey, this isn't what I want to do with my life?" MS. KRAWCHECK: Let's start with the basics, which is the hair and the makeup. Let's assume it's 15 minutes a day. I've gotten up earlier than my husband since the day we've been married; 15 minutes a day, 75 minutes a week, 3,900 minutes a year. Now you can say, "Well, don't wear makeup." Give me a break. So you start with the hair and the makeup. You then have the fact that women do twice as much of the housework as the guys do. And we do three times the amount of child care.
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