Female Manager - Mary Erdoes
It is no secret that a very small number of representatives of the fairer sex choose an education related to the exact sciences.
This can be seen especially clearly in the auditorium of any technical university, when the overwhelming number of guys occupy all the desks and only a few girls dilute this sad picture of those present in the audience.
That is why most people have a stereotype that only men work in the stock exchange environment, and women are nothing more than service personnel.
However, they are stereotypes in order to destroy them, and the biography of Mary Erdoes is an excellent example when a woman would be the envy of at least the majority of men on Walt Street.
Mary Erdoes was born on August 13, 1967, into a family of Irish Catholic descent. She spent her childhood and youth in Winnetka, Illinois. She grew up in a wealthy and highly educated family.
Her father and mother were partners (owned shares and were part of the board) of the investment firm Lazard Freres.
However, my grandmother truly began to instill a love for stock exchange and banking from childhood. The most interesting thing is that the grandmother had rather outdated views on life, namely, she believed that Mary would be lucky enough to get married and not work.
However, her granddaughter’s pride and competition with her friends’ children got the better of her, so she was closely involved in her granddaughter’s mathematical education, spent a lot of time with her and was the first to introduce her to a checkbook.
Mary's education from the very beginning was mathematical. So she initially attended and graduated from the private Catholic Sacred Heart Academy for girls.
It was there that she first demonstrated her love for mathematics and her competitive spirit with her classmates. In order to further develop her abilities, she entered Georgetown University to study mathematics.
In one of her memoirs, Mary Erdoes admitted that she was the only girl in the whole class, so it was really difficult for her to compete with the guys. However, this did not prevent her from successfully graduating from university and receiving a bachelor's degree.
Career ladder
At the beginning of her investment career, the culprit was once again her grandmother. Yes, her father instilled a love for the trading profession and taught her a little about the business, but her grandmother found the first job for Mary.
So, when she was still a student, a caring relative called all the contacts of her friends and got her a job at the investment firm Stein Roe & Farnham.
At her first job, she was nothing more than a courier, and her duties included sorting papers and delivering them to their destination. However, it was there that she was introduced to domestic cooking, which made her move on.
After her first job, she attended Harvard Business School, where she received her MBA. With such a diploma and first work experience, new opportunities opened up for her, so she moved to Bankers Trust, where she began asset management, namely, trading debt obligations (bonds).
She also worked briefly at Meredith, Martin & Kaye, where she was a personal advisor and also a wealth manager.
She really came into her own as a manager at JP Morgan. At her new job, she had 15 people subordinate to her, and her task was to head the department for trading bonds and distressed assets.
She managed to establish herself well and improve the performance of an already profitable and efficient department.
Climbing to the top
In 2005, she became one of the most powerful women in the world as she took the position of CEO of JP Morgan Private Bank and also became the main successor to JPMorgan Chase & Co for the CEO position.
Today, this fragile woman manages about two and a half trillion dollars, while Mary Erdoes’s personal salary in the company is 15 million a year.
The most interesting thing is that her salary is an order of magnitude less than that of most heads of hedge funds who are directly subordinate to her. However, this does not in any way make her resentful.