Finance Career Tips for Aspiring Women Leaders

Last Updated on December 29, 2024

One of the more exciting developments in recent years has no doubt been the emergence of women driven towards financial independence, and this drive extends far beyond small home-based businesses or SMEs (Subject Matter Experts).

But even as more women are entering the field, there is a strange paradox that occurs. According to The World Economic Forum which released a report on “The Global Gender Pay Gap”, as career levels rise – female representation declines. There are many reasons for this, but don’t let that stop you. Women are ideally suited to careers in finance where there has traditionally been a lack of emotional intelligence and empathy in a field that reaches and impacts the lives of so many.

But as challenging as this field can be for women, take a look at this article and draw inspiration from globally inspired women who are completely changing the face of the financial services landscape—and doing so with guts and purpose.

From global finance and hedge-fund management, risk advisory services, and trading in CFDs, women are breaking new, global ground and changing the world as we know it.

What This Article Covers

• The rise of women in finance: Insights into how women are driving financial independence and redefining the industry.
• The paradox of female representation: Exploring the challenges women face as they rise to higher career levels in finance.
• Breaking barriers: Stories of women transforming global finance through leadership, hedge funds, and risk advisory services.
• Tips for succeeding in finance: Practical advice from leading women on preparation, leadership, and overcoming obstacles.
• Emotional intelligence as an asset: How empathy and passion can be powerful tools for women in finance.
• The importance of mentorship: Supporting and lifting other women to build a stronger, more inclusive industry.
• Financial literacy empowerment: Why education and financial knowledge are key to gaining a competitive edge.
• Overcoming fear and stereotypes: Encouragement to push past fears and stereotypes to achieve success in finance.

#1 – On Preparation

Clare Woodman, C.E.O of Morgan Stanley – “Rather than strive for perfection, you’ll be much better off striving to be as prepared as you can be.”

#2 – On Effective Leadership

Alexandra Taussig, formally of Fidelity Investments
“I think effective leadership — regardless of the industry — is taking the time to get to know and relate to people on a personal level. You need to learn what makes them tick, what motivates them, what they value and what their life is like outside of the office. The more you connect and understand the people you work with, the better you’ll be able to communicate, collaborate, and motivate them to drive towards your goals.”

#3 – On Overcoming Obstacles

Rebecca Glasman – Korn Ferry
“I returned from my third (and final) maternity leave in September 2008 and had to reignite my career in an imploding financial services sector. I kept calm, surveyed the landscape and drew on longstanding relationships. As a result, I had my busiest year ever, helping to build restructuring teams.”

#4 – On Advice for Women Wanting to Enter Finance

Vickie Wicks, Principal and Financial Advisor, Edward Jones Investments
“One piece of advice for women looking to find success in finance would be: just do it. If you want to make an impact that will provide a foundation of success for everyone you serve — your family and your community — this career is for you.”

#5 – On “Emotional Women”

Jennifer Bacarella, Owner and financial advisor at Bokeh Financial
“I have been told I am emotional, but I like to say I am passionate. I think having emotion is something that can be used against us, but emotion is what drives me. How I feel, how I make others feel…that is how I define myself.”

#6 – On Breaking Stereotypes

Ann Cairns, Former Executive Vice Chair at Mastercard
“Breaking through the glass ceiling in finance isn’t about working harder than everyone else; it’s about changing perceptions and showing that leadership has no gender.”

#7 – On Representation

Gina Talamona, Communications Director, SEC
“Diversity in leadership isn’t just a moral imperative; it’s a business advantage. A wider range of voices leads to better decision-making.”

#8 – On Financial Literacy

Barbara Novick, Co-Founder of BlackRock
“The key to empowering women in finance lies in education. The more financially literate we become, the stronger our position in the industry will be.”

#9 – On Mentorship

Stephanie Cohen, Former Global Co-Head at Goldman Sachs
“Mentorship is about lifting as you climb. When women mentor and support each other, the industry grows stronger and more inclusive.”

Summary

Women are making significant strides in the financial industry, proving their capabilities and redefining leadership. By leveraging preparation, emotional intelligence, and mentorship, women can overcome challenges and excel in finance. The insights and advice from accomplished professionals demonstrate that success is achievable through resilience, education, and collaboration.

Now is the time to embrace these strategies, break stereotypes, and contribute to a more diverse and inclusive financial sector. Every step taken toward empowerment strengthens not only individual careers but also the industry as a whole.