"She never makes you feel like you are disturbing her personal life; I don't even know if she has one." So says one admirer of Morgan Stanley CFO Ruth Porat, the subject of a fascinating profile in the New York Times--which at times reads like a parody of a modern Wall Street woman. The type who makes client calls while in the delivery room giving birth. Who is available 24/7. Who threw her back out in a client meeting and, instead of resting or seeking care, laid on the board room table and continued. Who, in her "spare" time, renovates and resells apartments in Manhattan. She's also a loving mother to three kids. Some of this rings too-good-to-be true, but that's the nature of media profiles.

There is a compelling story behind the veneer--maybe it has to do with her breast cancer--we just don't know what. Anytime I hear about a Superman or Superwoman on Wall Street, I start wondering about the tradeoffs. Because there are some.

To make it to CFO of Morgan Stanley, you had better have a loving spouse willing to shoulder child-rearing duties and you'd better be prepared to basically make your work your life. This is true these days for women and men. A lot of you, I'm sure, get the cliché that there's no such thing as having it all. There's no way to create more than 24 hours in a day. There's no way to teleport yourself out of the city to your child's event. Parenting via SMS text is hardly ideal.

All that said, it's awesome to see her at the top. What's unfortunate is that we'll tend to see her career from now on as an exercise in survival. Other women have ascended to the CFO or president spot at top firms, but look what happened to Erin Callan, Sallie Krawcheck and Zoe Cruz. We would all love to see Porat running Morgan Stanley or some other firm one day.

But for anyone who rises that high--male or female--we can only hope that the trip is truly worth it. If you're the type that truly loves being with your kids, you know the opportunity costs are immense. And that's what make the achievement all the more notable. All in all, it seems like Porat has made her peace with her success. And that's what matters in the end.

For more:
- here's the profile

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