City firms must do more to abolish the "alpha-male" culture still prevalent in banks and finance, the powerful Treasury committee has said.
In a wide-ranging report on women in finance published today, MPs call on firms to overhaul bonus negotiations and for more male bosses to “lead by example” by adopting flexible working.
The committee said the “overwhelming reason” given by women for not wanting to progress up the ranks in finance firms was culture.
It argued bonus negotiations perpetuated an “alpha-male culture... where it’s perceived that men argue more forcefully for bonuses than women”. The committee said bonuses should be assessed against “clear criteria”.
The call comes after recent...