“It’s a little puzzling,” says Michael Johannes, a professor at Columbia’s Graduate School of Business who teaches a two-year masters in financial economics. This course attracts around 20 participants and is typically split 50/50 men to women. He suggests that it will take time for women emerging from finance courses to make their way into the upper echelons of financial institutions.

Other academics, including many who have worked in the financial services industry, blame a familiar set of factors for why so few women are in senior positions. These include work practices that clash with family life; a lack of transparency around salaries and promotions; and too few female role models for women to follow.

Quoted from "Mind the gap: Business schools help women break the glass ceiling," Financial Times.