The question of whether women in finance can “have it all” is an interesting one.
Forbes magazine says that as more women rise to prominent positions in the financial sector, they are challenging traditional notions of success and redefining what it means to achieve both professional excellence and personal satisfaction.
Forbes’ report examines how women in finance are addressing these challenges and how they are helping to reshape the industry.
Women and the finance sector
The financial industry has seen notable progress in gender equality, but significant gaps remain, the report said. In 2024, women will hold approximately 30% of leadership positions in financial services globally.
Despite their increasing numbers in the field, persistent barriers, including unconscious biases, unequal opportunities for promotion, and underrepresentation in decision-making roles, continue to limit women’s advancement, according to the magazine.
Forbes says one of the biggest challenges facing women is the pay gap, with women in business and finance earning about 81 cents for every dollar earned by men, reflecting systemic issues rooted in financial norms and practices.
Breaking barriers and achieving achievements
According to Forbes, many prominent women have succeeded in breaking barriers in the financial sector and creating new standards of leadership and achievement.
For example, Sally Krawczyk, CEO of Ellevest, presented a model for providing financial services focused on women’s needs.
Adenya Friedman, the first female CEO of Nasdaq, was able to achieve outstanding achievements that led the company to new heights, proving the potential of women in leading major financial institutions.
Between work and life
In the past, work-life balance in the financial sector was seen as difficult to achieve, especially with grueling work schedules and high pressure.
However, modern women in finance are redefining the concept of balance by prioritizing their well-being, while continuing to achieve ambitious career goals, Forbes said.
Traditionally, the criteria for success in finance were measured by power, prestige, and financial gain. Now, success is being redefined to include a broader set of accomplishments that reflect personal values and goals.
Success is no longer limited to climbing the career ladder or managing huge portfolios, but is also about financial independence and contributing to making a positive impact.
Practical advice for ambitious women in finance
- Building professional networksCreating strong professional networks is crucial to advancing at work, as professional networks are a major reason for success.
- Continue learning: Women in finance must stay abreast of new trends and developments.
- Overcoming imposter syndromeImpostor Syndrome: Characterized by self-doubt and feelings of inadequacy, women must learn to celebrate their accomplishments and recognize their value in the field.
- Find alliesBuilding a network of allies can facilitate challenges and provide support.
- Financial independence: It is important to maintain financial independence, even in personal relationships, to ensure financial control and freedom.
Women in finance are proving that they are able to balance professional success and personal fulfillment.
As they continue to break down barriers and reshape the sector, they are creating a more inclusive and dynamic financial world, opening the way to a more equal and innovative future.
