Women make up about half of the population, yet their presence in finance remains low, particularly at top levels. According to an Oliver Wyman survey, women make up only 20% of executive committee members and 14% of board members in the banking industry. While women confront many challenges in finance, such as sexism, unconscious prejudice, and gender stereotypes, there are also chances for women to excel.
The banking profession is recognized for being dominated by males, with stereotypes stating that men are better at arithmetic and risk-taking and women are better at nurturing and communication. Gender stereotypes can cause bias and discrimination, making it difficult for women to succeed in their jobs. Furthermore, women frequently struggle with work-life balance and may feel compelled to choose between their jobs and their families. These challenges may induce women to quit the banking profession, resulting in a gender gap in senior positions.
Notwithstanding these obstacles, women have the potential to flourish in finance. There has been a greater emphasis on diversity and inclusion in recent years, and more organizations are making attempts to improve the presence of women in senior roles.
To summarize, while women in finance confront several challenges, including prejudices and preconceptions, there are also chances for women to excel. Women may have a greater opportunity to grow in finance as organizations become more conscious of the benefits of diversity and inclusion.