Why smart women will bin their copies of Smart Woman magazine

"Inner confidence" and "fearing success".

I’m not quite sure how I feel about a small glossy magazine that arrived on my desk today. On the one hand, it’s one of the most patronising reads I’ve experienced in a long time — perhaps all the more so because it’s so well intentioned. On the other, it’s really quite funny in parts, although this was most definitely unintentional.

Smart Woman is a new pamphlet published by Barclays, with the tagline "Take control of your financial future" and a very pouty Emma Hill (CEO of Mulberry) in tiger-stripe heels as the cover girl.

I had to think a while to be able to describe what makes the name Smart Woman so excruciatingly embarrassing, but it’s partly the idea that potential readers will require this kind of affirmation of their own intelligence. It feels like a schoolgirl commendation.

Many women (and men) would undoubtedly benefit from advice on managing their finances and furthering their career, but this isn’t the right way to present it.

Barbara-Ann King, head of female client group at Barclays, wrote the introduction: "For many women… self-doubt seems apparent in the realm of financial decision-making. We see women in many studies revealed as cautious, risk-averse and taking longer to move from thought to action. Not necessarily bad traits, but ones that perhaps hold a woman back from realising her true potential."

For a start, I would suggest that being "cautious" and "risk-averse" doesn’t necessarily imply self-doubt: it could equally imply a greater awareness of, or sensitivity to, what financial risk-taking can mean for themselves or their families, for instance.

Secondly, a strong argument can be made for wanting more cautious, risk-averse individuals in finance. Finally, the producers of Smart Woman would probably have benefited from "taking longer to move from thought to action": the thought behind the magazine is great — it’s the execution that’s so jarring.
   

One of the
  
features in this issue of Smart Woman (doesn’t the name grate?) is about why so few women are on boards, a topic I’ve written about before and one that interests me a great deal.

It piqued my interest, and then contained one of the least sensitive discussions of women giving up work to have children I’ve ever come across. It cites the example of Helena Morrissey, CEO of Newton Investment Management and a campaigner for more women board members, who has nine children, to illustrate that it’s not 2having kids per se that’s the problem" when it comes to women reaching the top of the career ladder.

Helena Morrissey has spoken at Spear’s events, and I have a strong feeling that she wouldn’t want her example used to illustrate a point made by Gwen Rhys, founder of Women in the City and Networking Culture, that "if women negotiate their way out of that [gender pay] gap, they have enough money to pay for the childcare and get rid of the guilt."

Morrissey may be a fantastic example of a woman able to juggle work and family life — but not all women can, or would even want to, follow suit. Not all women find that an expensive nanny will help them "get rid of the guilt" after consistently missing bedtime — and few high-flying jobs are OK with women clocking off by 6pm.

If the Daily Mail likes to paint working mothers as bad mothers, Smart Woman implies that stay-at-home mothers are simply under-ambitious — I’d expect a more intelligent discussion from a rag aimed at female executives. 
   
   


It doesn't stop there. Rhys then asserts that not only are women to "blame" for their low representation in the boardroom, but also that women "fear success". "It’s controversial," she says (and she’s not wrong there), "but for women, the fear of success is greater than the fear of failure. Because if you do leap across the precipice to the boardroom, you have to keep proving yourself."

I would like to see some evidence for this notion that women are scared of having to "prove themselves". It’s shocking that a magazine aimed at "smart women" could be so dismissive.

The piece goes on to argue that women don’t do enough to promote themselves, and need to be more pro-active, which may well be true to a degree, but doesn’t reflect the whole picture.

Perhaps this, ultimately, is my real problem with the magazine: King’s introduction may talk about the need for women to overcome their self-doubt, but the rest of the magazine seems mainly concerned with pointing out what women don’t do well enough, or need to do better: women must stop giving up work to have children. They need to stop fearing success. They need to play politics the way men do, raise their own profiles, and change the way they speak in boardroom their views get heard.

We’re not doing well enough, and it is all our fault, is the central theme, and the conspiratorial tone and patronising title don’t help.

"This issue of Smart Woman puts the spotlight back on what women can do when they allow their creative minds to partner with their inner confidence," King writes in her introduction.

When my creative mind partnered with my inner confidence my feelings about Smart Woman suddenly became clear and I had only one thought: bin this thing (but blog about it first).

Women are apparently "taking longer to move from thought to action": Photograph: Getty Images

Sophie McBain is a freelance writer based in Cairo. She was previously an assistant editor at the New Statesman.

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An unmatched font of knowledge

Edinburgh’s global reputation as a knowledge economy is rooted in the performance and international outlook of its four universities.

As sociologist-turned US Senator Daniel Patrick Moynihan recognised when asked how to create a world-class city, a strong academic offering is pivotal to any forward-looking, ambitious city. “Build a university,” he said, “and wait 200 years.” He recognised the long-term return such an investment can deliver; how a renowned academic institution can help attract the world. However, in today’s increasingly globalised higher education sector, world-class universities no longer rely on the world coming to come to them – their outlook is increasingly international.

Boasting four world-class universities, Edinburgh not only attracts and retains students from around the world, but also increasingly exports its own distinctively Scottish brand of academic excellence. In fact, 53.9% of the city’s working age population is educated to degree level.

In the most recent QS World University Rankings, the University of Edinburgh was named as the 21st best university in the world, reflecting its reputation for research and teaching. It’s a fact reflected in the latest UK Research Exercise Framework (REF), conducted in 2014, which judged 96% of its academic departments to be producing world-leading research.

Innovation engine

Measured across the UK, annual Gross Value Added (GVA) by University of Edinburgh start-ups contributes more than £164m to the UK economy. In fact, of 262 companies to emerge from the university since the 1960s, 81% remain active today, employing more than 2,700 staff globally. That performance places the University of Edinburgh ahead of institutions such as MIT in terms of the number of start-ups it generates; an innovation hothouse that underlines why one in four graduates remain in Edinburgh and why blue chip brands such as Amazon, IBM and Microsoft all have R&D facilities in the city.

One such spin out making its mark is PureLiFi, founded by Professor Harald Haas to commercialise his groundbreaking research on data transmission using the visible light spectrum. With data transfer speeds 10,000 times faster than radio waves, LiFi not only enables bandwidths of 1 Gigabit/sec but is also far more secure.

Edinburgh’s universities play a pivotal role in the local economy. Through its core operations, knowledge transfer activities and world-class research the University generated £4.9bn in GVA and 44,500 jobs globally, when accounting for international alumni.

With £1.4bn earmarked for estate development over the next 10 years, the University of Edinburgh remains the city’s largest property developer. Its extensive programme of investment includes the soon-to-open Higgs Centre for Innovation. A partnership with the UK Astronomy Technology Centre, the new centre will open next year and will supply business incubation support for potential big data and space technology applications, enabling start-ups to realise the commercial potential of applied research in subjects such as particle physics.

It’s a story of innovation that is mirrored across Edinburgh’s academic landscape. Each university has carved its own areas of academic excellence and research expertise, such as the University of Edinburgh’s renowned School of Informatics, ranked among the world’s elite institutions for Computer Science. 

The future of energy

Research conducted into the economic impact of Heriot-Watt University demonstrated that it generates £278m in annual GVA for the Scottish economy and directly supports more than 6,000 jobs.

Set in 380-acres of picturesque parkland, Heriot-Watt University incorporates the Edinburgh Research Park, the first science park of its kind in the UK and now home to more than 40 companies.

Consistently ranked in the top 25% of UK universities, Heriot-Watt University enjoys an increasingly international reputation underpinned by a strong track record in research. 82% of the institution’s research is considered world-class (REF) – a fact reflected in a record breaking year for the university, attracting £40.6m in research funding in 2015. With an expanding campus in Dubai and last year’s opening of a £35m campus in Malaysia, Heriot-Watt is now among the UK’s top five universities in terms of international presence and numbers of international students.

"In 2015, Heriot-Watt University was ranked 34th overall in the QS ‘Top 50 under 50’ world rankings." 

Its established strengths in industry-related research will be further boosted with the imminent opening of the £20m Lyell Centre. It will become the Scottish headquarters of the British Geological Survey, and research will focus on global issues such as energy supply, environmental impact and climate change. As well as providing laboratory facilities, the new centre will feature a 50,000 litre climate change research aquarium, the UK Natural Environment Research Council Centre for Doctoral Training (CDT) in Oil and Gas, and the Shell Centre for Exploration Geoscience.

International appeal

An increasingly global outlook, supported by a bold international strategy, is helping to drive Edinburgh Napier University’s growth. The university now has more than 4,500 students studying its overseas programmes, through partnerships with institutions in Hong Kong, Singapore, China, Sri Lanka and India.

Edinburgh Napier has been present in Hong Kong for more than 20 years and its impact grows year-on-year. Already the UK’s largest higher education provider in the territory, more than 1,500 students graduated in 2015 alone.

In terms of world-leading research, Edinburgh Napier continues to make its mark, with the REF judging 54% of its research to be either world-class or internationally excellent in 2014. The assessment singled out particular strengths in Earth Systems and Environmental Sciences, where it was rated the top UK modern university for research impact. Taking into account research, knowledge exchange, as well as student and staff spending, Edinburgh Napier University generates in excess of £201.9m GVA and supports 2,897 jobs in the city economy.

On the south-east side of Edinburgh, Queen Margaret University is Scotland’s first university to have an on-campus Business Gateway, highlighting the emphasis placed on business creation and innovation.

QMU moved up 49 places overall in the 2014 REF, taking it to 80th place in The Times’ rankings for research excellence in the UK. The Framework scored 58% of Queen Margaret’s research as either world-leading or internationally excellent, especially in relation to Speech and Language Sciences, where the University is ranked 2nd in the UK.

In terms of its international appeal, one in five of Queen Margaret’s students now comes from outside the EU, and it is also expanding its overseas programme offer, which already sees courses delivered in Greece, India, Nepal, Saudi Arabia and Singapore.

With 820 years of collective academic excellence to export to the world, Edinburgh enjoys a truly privileged position in the evolving story of academic globalisation and the commercialisation of world-class research and innovation. If he were still around today, Senator Moynihan would no doubt agree – a world-class city indeed.

For further information www.investinedinburgh.com