Work-life balance is a ‘gauntlet’ for women, Sallie Krawcheck says

The Wall Street veteran, whose distinguished career spanned nearly three decades, recently said: luck She still remembers sitting on a panel in the mid-2000s. Krawcheck, Citigroup’s chief financial officer, sat alongside top executives from other companies. fortune 500 But while her male counterparts were asked about “managing the balance sheet,” Krawczyk was asked how she balances her responsibilities while being a working mother.

“I remember thinking, ‘It’s not enough for me to come to this table as a CFO,’” she said. luck.

Krawcheck, who took over as Citi’s chief financial officer in 2004 at just 38 years old, has held a variety of senior positions at Wall Street giants such as Sanford C. Bernstein, Smith Barney, Merrill Lynch and Bank of America. He has been called “the last honest analyst.” luck In 2002, Krawcheck cemented her rise to the top by leading Sanford Bernstein through the mysterious dot-com bubble burst of 2000. Her strategy? Tell the truth — unlike her peers who hyped the stock while privately attacking it.

However, as she rose to senior executive positions, she says she was “the only woman, or one of the only two women” in the room.

“I think my gender has always been a factor,” she said. “I think it’s been a factor in my success, and I think it’s been a factor in the times when I’ve stumbled.”

“There were times in my life where I kept going and did a good job as a mom,” she said. “But I wasn’t the perfect mom with the homemade cookies.”

Similarly, Krawczyk said, “There have been times in my life when my children needed me when career took second place.”

Now 59, Krawcheck is the founder and CEO of Ellevest, an investing platform she launched in 2016 that she says was “founded, funded, and built for women to invest in.” Under her leadership, the robo-advisory firm has grown to more than $2 billion in assets under management and has enjoyed backing from backers including Melinda French Gates and Penny Pritzker.

After spending years of her career in traditional firms “seeking to effect change from the inside out,” Krawczyk is now on a mission to break the “boys’ club on Wall Street” and help women invest.

“Ellevest is the opposite of Wall Street in terms of our company makeup; we are about 85% women,” she said.

Krawczyk said her company is now fully remote, and not commuting is a “huge advantage” for working parents. Asked about her thoughts on work-life balance and whether she has achieved it, Krawczyk said she has “a lot of ideas” about that goal.

“I don’t like to frame this question as a challenge for women as another level of success to achieve,” she said. “You have succeeded in business, ma’am, but that is not enough, and now you also need to balance it.”

Between team meetings, Krawczyk gave luck An exclusive look at her daily routine that begins as soon as she wakes up.

Afternoon Cookie Art

5:30 AM: If she’s not trying to get some rest during a night flight — which happens “relatively frequently” — Krawczyk typically rolls out of bed when the sun comes up. She’s immediately greeted by her cats, Newcomb and Mecom, who are “very demanding.”

“First thing is she needs a massage, and I mean a deep tissue massage to start her day and mine.”

Once Mecum is satisfied, Krawczyk makes a decaf oat milk latte and challenges her younger brother to a virtual spelling bee game.

7 am: She spends the next hour exercising, whether it’s walking in a park near her New York City apartment or cycling on her Peloton bike.

“I like to get really sweaty, I like to wear a little bit of light weights, and I like to stretch,” the CEO said.

9 am: After a quick shower, Krawczyk begins her daily commute to work — a short walk through her bedroom and living room to her home office.

“When I blow-dry my hair, or when I put on my makeup, that first hour in front of the desk, that’s my most creative moment ever,” she said. “I learned long ago that I’m at my best in the morning; in the afternoon, my mind is in a mess.”

12:00: After a busy morning of Zoom calls, Krawczyk makes time to meet a potential client or investor for lunch and get some fresh air before heading back to her office.

Since then, “the meeting becomes one after another.”

3 pm: “There are two things that happen in the afternoon, and both of them are really important,” Krawczyk said.

To get a boost of energy to get through the rest of her workday, Krawczyk takes a 15-minute nap. She said it’s a “perk” of working from home.

“I sit on the couch to do this because if I lie down, that 15-minute nap will definitely become a two-hour nap.”

Next: “Afternoon Cookies,” which is a special factor, “and it’s the sugar I need all day long.”

6 pm: Evenings are often filled with networking events and cocktail hours that Krawcheck hosts at her New York City home for small groups of women to talk about money, power, investing and more.

Krawczyk said that if she’s not hosting an event for Ellevest and has free time after her workday, she loves to cook, often making dinner for her kids on Sunday evenings.

She said, “My roast chicken is better than your grandmother’s. I mean, it will blow your mind. And my pie? It has an unbelievably crispy crust.”

8 pm: Krawczyk begins to wind down around 8 p.m., and her family and friends know exactly when she’s ready for bed.

“I say, ‘I’m going upstairs,’” she said. “That’s just a signal that the conversation is over, and I’m going to go to that quiet place where I read for a few hours.”

Krawczyk might enjoy a glass of Chardonnay before falling asleep and dreaming about her next big business idea.