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Things All Women In Finance Need To Know

Things All Women In Finance Need To Know

If we look at the women sector in the corporate separately we can notice that millennium has been the elevator to success for women and the term working women has been redefined. Women have achieved a significant status and space in the corporate world. Countries like UK have reserved 25% female board representation by 2015 and have noticed a significant progress. UK finance companies have a significant proportion of the top 100 FTSE companies.  Women have been known to represent the roles of receptionists, secretaries, and administrators better than men, but now women are expanding their wings to more powerful sectors of the corporations even to head an entire organization.

As a woman, we have to realise that our potential is only limited to our fear of reaching out for more. We might not know but we are equally important in an organization and a crucial part of the organization for it to run properly.

 

Women are crucial to the continued growth of the financial service sector

According to the Swiss investment bank Credit Suisse, women makeup at least 15% of senior managers and have more than 50% higher profitability compared to the ones which have less than 10% of female representatives. Also, the women in US are set to inherit $22 trillion in asset investments by 2020. Having a female accountant and advisor has also proved to make a deal between companies compared to male advisors. Because of which, many initiatives have been taken to increase female representations in the organisations. The UK aims to achieve a 30% female representation in their government and private organisations by 2020.

Demand and Negotiate Your Salary with Confidence

Salary with Confidence

According to the reports of the BBC, the average woman salary working in the finance sector is 35.6% less than an average man’s income working in the same position. There is a need of young women to demand the equal salary for equal work and also be confident enough to further negotiate their salaries if their expertise is brilliant in the field. Men have been found to ask for a raise more confidently than women where women hesitate in the fear of losing the opportunity. Whether or not women are asking for pay raise also affects their future CTC. Do not hesitate to oppose their rejection of equal pay, it is the only way to approach the organisations- by saying no to their insignificant offers.

Do not underestimate the power of building a network

While you are in financial field, you need to make as many connections as you can at the early days of your career. Capitalising on your professional relations is the key to conquer any industry. Connect with people in the industry with the help of online platforms and well as your friends and family. Find yourself a mentor who can advise you in taking impactful steps in your career. Remember that you are not going in as a female employee, you are going in as an employed person who is equal to companies standards. You need to find your place and take your progress from there to being top leaders.