Efforts on Wall Street to re-engage women who are trying to return to the work force, many of whom left for family obligations, have started to yield results.

During the last few years, some of the nation’s premier business schools began to address that demographic group with executive M.B.A. programs. Of those, perhaps the most encompassing is the annual program started last fall by the Tuck School of Business at Dartmouth, with a curriculum that combined academics and career opportunities.

With a median age of 47 and an average of eight years out of the work force, 41 students — 35 women and 6 men — participated in the first Tuck program, known as Back in Business. Of those, slightly more than half have found high-level and often high-paying work, according to the program’s director, Anant Sundaram.

He said that of those, “one or two ended up with consumer products companies, four with nonprofit organizations and a dozen with banks or financial services firms.” Three others returned to their own businesses, one went on to graduate school and another “had great offers but has postponed getting back into the work force.”

Those in the program said that the biggest issue facing them was not whether their skills were rusty; rather, it was the confidence that they had lost while not working. As Diana Allan, a graduate, said when polled by another program graduate, she realized that she should “never apologize for being out of the market.”

Several Tuck graduates landed at Goldman Sachs, Merrill Lynch and Citi, where Hans Morris, an early champion of the program, was chief financial officer of the markets and banking division before becoming president of Visa Inc. in September.

One, Janine Abbatecola, 40, a 1989 Cornell graduate who left her job at Credit Suisse in 2003, landed at Goldman Sachs, she said, because of Tuck’s “career evening where eight, nine companies, one of which was Goldman Sachs, came.” She subsequently “came to an event at Goldman, wound up connecting with a recruiter and meeting with a group, and everything took off from there.” She took a job as a vice president in Goldman’s equities division, a position similar to the one she had held at Credit Suisse. (Goldman has hired six other women through its own initiative for those who have taken career breaks.)

Another Tuck participant, Bette Rice, 50, joined Merrill Lynch in the late 1980s but left in 2002 when “my kids were in middle school,” when she was a director working on fixed income products. Ms. Rice decided to try the Tuck program when her daughter was applying to college, and she found that it “contributed a lot to the soft skills — how to put together your approach to re-entry and to think through the job market, my skills, résumé and core competencies.”

While she interviewed at several places, she decided in January to return to Merrill Lynch.

Not all of the Tuck graduates have joined Wall Street firms. Some have opted to try their hand at entrepreneurship while others, like Anne Donoghue, turned to the nonprofit world.

Ms. Donoghue, a publicist, did some consulting work after being laid off at Warner Brothers in 2001, but she devoted time to her nieces and nephews after her brother-in-law died in the attacks on Sept. 11, 2001. The program, she said, “gave me the confidence that I had something to contribute.” Ms. Donoghue, now 44, eventually decided that she wanted to work at a nonprofit organization. She learned through a networking site that the American Kennel Club was looking for a director of publicity.

While the need to explain their career gaps was not an issue, the women interviewed said, compensation, as expected, was a question. Those interviewed said their pay at least equaled their earlier earnings.

Read More