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Women in Finance: Current and Future Perspectives | UNSW Online
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class="formtext"> <div class="textinner"> <h3 class="download">Download a program guide</h3> <h3 class="enquire">Speak to an Enrolment Advisor</h3> <p class="enquire">Leave your details and we will call you back with information on your preferred program.</p> <ul> <li>Fees</li> <li>Courses of study</li> <li>Entry requirements</li> <li>Online structure</li> </ul> </div></div> <form name="enterpriseform" id="enterpriseform" action="/postform.php?" method="post" class="enterpriseform qcf"> <div id="step1"> <div class="field-wrapper col-onequarter first" data-field-name="Courseid" data-field-type="select"> <label for="Courseid">I am interested in:</label> <div class="field"> <div class="inner"> <select name="Courseid" id="Courseid" title="Program" data-validate="required" data-placeholder="I'm interested in:" data-placeholder-alternate="I'm interested in:" tabindex="1"> <option value="">I am interested in</option> <optgroup label="Analytics"> <option value="81">Master of Analytics</option> <option value="81">Master of Analytics (Marketing)</option> <option value="81">Master of Analytics (Human Resource Analytics)</option> <option value="82">Graduate Diploma in Analytics</option> <option value="83">Graduate Certificate in Analytics</option> <option value="285">Graduate Certificate in Marketing Analytics</option> </optgroup> <optgroup label="Applied Finance"> <option value="184">Master of Applied Finance</option> <option value="183">Graduate Diploma in Applied Finance</option> <option value="182">Graduate Certificate in Applied Finance</option> </optgroup> <optgroup label="Cyber Security"> <option value="124">Master of Cyber Security</option> <option value="123">Graduate Diploma in Cyber Security</option> <option value="122">Graduate Certificate in Cyber Security</option> </optgroup> <optgroup label="Data Science"> <option value="84">Master of Data Science</option> <option value="85">Graduate Diploma in Data Science</option> <option value="86">Graduate Certificate in Data Science</option> </optgroup> <optgroup label="Financial Technology"> <option value="114">Master of Financial Technology</option> <option value="115">Graduate Diploma in Financial Technology</option> <option value="116">Graduate Certificate in Financial Technology</option> </optgroup> <optgroup label="Human Resource Management"> <option value="247">Master of Human Resource Management</option> <option value="247">Master of Human Resource Management (Diversity, Equity and Inclusion)</option> <option value="247">Master of Human Resource Management (Human Resource Analytics)</option> <option value="247">Master of Human Resource Management (Leadership and Organisational Development)</option> <option value="246">Graduate Certificate in Diversity, Equity and Inclusion</option> <option value="250">Graduate Certificate in Human Resource Analytics</option> <option value="249">Graduate Certificate in Human Resource Management</option> <option value="248">Graduate Certificate in Leadership and Organisational Development</option> </optgroup> <optgroup label="Management"> <option value="131">Master of Management</option> <option value="155">Graduate Certificate in Business</option> </optgroup> </select> </div> </div> </div> <div class="field-wrapper field-wrapper__firstname col-onequarter" data-field-name="firstname" data-field-type="text"> <label for="firstname">First name</label> <div class="field"> <div class="inner"> <input name="firstname" id="firstname" value="" placeholder="First name" title="First name" type="text" data-validate="required matchTitle matchPlaceholder" tabindex="2" /> </div> </div> </div> <div class="field-wrapper field-wrapper__lastname col-onequarter" data-field-name="lastname" data-field-type="text"> <label for="lastname">Last name</label> <div class="field"> <div class="inner"> <input name="lastname" id="lastname" value="" placeholder="Last name" title="Last name" type="text" data-validate="required matchTitle matchPlaceholder" tabindex="3" /> </div> </div> </div> <div class="field-wrapper field-wrapper-bachelordegree col-onequarter" data-field-name="bachelordegree" data-field-type="select" style="display:none;"> <label for="bachelordegree"> Do you have a Bachelor’s degree?</label> <div class="field"> <div class="inner"> <select name="bachelordegree" id="bachelordegree" title="please select bachelor degree" data-validate="required" data-placeholder="Do you have a Bachelor’s degree?"> <option value="">Do you have a Bachelor’s degree?</option> <option value="yes">Yes</option> <option value="no">No</option> </select> </div> </div> </div> <div class="steps btn-wrapper bottom col-onequarter last"> <a class="next tostep2" tabindex="4">Next Step</a> </div> <div class="steps bottom full"> <p class="circles"><span class="circle one active">1</span><span class="circle two">2</span><span class="circle three">3</span></p> </div> </div><!-- #step1 --> <div id="step2"> <div class="field-wrapper col-onefifth first" data-field-name="startdate" data-field-type="select"> <label for="startdate">Desired start date</label> <div class="field"> <div class="inner"> <select data-placeholder="Desired start date:" data-placeholder-alternate="Desired start date" data-validate="required" id="startdate" name="startdate" title="Desired start date" tabindex="6"> <option value="">Desired start date</option> <option value="within 3 months">Within 3 months</option> <option value="within 6 months">Within 6 months</option> <option value="within 12 months">Within 12 months</option> <option value="12 months plus">12+ months</option> <option value="unsure">Unsure</option> </select> </div> </div> </div> <div class="field-wrapper col-onefifth" data-field-name="educationlevel" data-field-type="select"> <label for="highesteducation">Highest Level of Education</label> <div class="field"> <div class="inner"> <select data-validate="required" id="highesteducation" name="educationlevel" tabindex="7"><option value="">Highest Level of Education</option><option value="High school">High school</option><option value="Diploma">Diploma</option><option value="Bachelors degree">Bachelor's degree</option><option value="Postgraduate diploma">Postgraduate diploma</option><option value="Masters Degree">Masters or Higher</option></select> </div> </div> </div> <div class="field-wrapper col-onefifth" data-field-name="workexperience" data-field-type="select"> <label for="workexperience">Relevant work experience</label> <div class="field"> <div class="inner"> <select data-placeholder="Relevant work experience:" data-placeholder-alternate="Select a Relevant work experience" data-validate="required" id="workexperience" name="workexperience" title="Relevant work experience" tabindex="8"> <option value="">Relevant work experience</option> <option value="Less than 5 years">Less than 5 years</option> <option value="Between 5 - 9 years">Between 5 - 9 years</option> <option value="More than 10 years">More than 10 years</option> </select> </div> </div> </div> <div class="field-wrapper col-onefifth" data-field-name="enquiryreason" data-field-type="select"> <label for="enquiryreason">Reason for enquiry</label> <div class="field"> <div class="inner"> <select data-placeholder="Reason for enquiry" data-placeholder-alternate="Select a Reason for enquiry" data-validate="required" id="enquiryreason" name="enquiryreason" title="Reason for enquiry" tabindex="8"> <option value="">Reason for enquiry</option> <option value="Researching options">Researching options</option> <option value="Looking for more information">Looking for more information</option> <option value="Need advice or assistance">Need advice or assistance</option> <option value="Ready to enrol">Ready to enrol</option> <option value="Other">Other</option> </select> </div> </div> </div> <div class="steps bottom col-onefifth last"> <a class="next tostep3" tabindex="4">Next Step</a> </div> <div class="steps bottom full"> <p class="circles"><span class="circle one backto1">1</span><span class="circle two active">2</span><span class="circle three">3</span></p> </div> </div><!-- #step2 --> <div id="step3"> <div class="field-wrapper col-onequarter first" data-field-name="dayphone" data-field-type="tel"> <label for="dayphone">Phone</label> <div class="field"> <div class="inner"> <input name="dayphone" id="dayphone" value="" placeholder="Phone" title="Phone" type="tel" data-validate="required" tabindex="5" minlength="10" maxlength="10" /> </div> </div> <label id="dayphone-error-msg" for="dayphone" class="error" style="display: none;">Please enter a valid phone number.</label> </div> <div class="field-wrapper col-onequarter" data-field-name="email" data-field-type="email"> <label for="email">Email</label> <div class="field"> <div class="inner"> <input name="email" id="email" value="" placeholder="Email" title="Email" type="email" data-validate="required email" tabindex="6" /> </div> </div> </div> <div class="field-wrapper col-onequarter" data-field-name="Country" data-field-type="select"> <label for="country">Country</label> <div class="field"> <div class="inner"> <select name="country" id="country" title="Country" data-validate="required" data-placeholder="Select a Location First" data-placeholder-alternate="Select a Location First" tabindex="7"> <option value="">Country</option> <optgroup label="Domestic"> <option value="AU">Australia</option> </optgroup> <optgroup label="International"> <option value="AF">Afghanistan</option> <option value="ALA">Aland Islands</option> <option value="AL">Albania</option> <option value="DZ">Algeria</option> <option value="AS">American Samoa</option> <option value="AD">Andorra</option> <option value="AGO">Angola</option> <option value="AI">Anguilla</option> <option value="AQ">Antarctica</option> <option value="AG">Antigua and Barbuda</option> <option value="AR">Argentina</option> <option value="AM">Armenia</option> <option value="ABW">Aruba</option> <option value="AT">Austria</option> <option value="AZ">Azerbaijan</option> <option value="BHS">Bahamas</option> <option value="BH">Bahrain</option> <option value="BD">Bangladesh</option> <option value="BB">Barbados</option> <option value="BLR">Belarus</option> <option value="BE">Belgium</option> <option value="BLZ">Belize</option> <option value="BEN">Benin</option> <option value="BM">Bermuda</option> <option value="BT">Bhutan</option> <option value="BO">Bolivia, Plurinational State of</option> <option value="BES">Bonaire, Sint Eustatius and Saba</option> <option value="BA">Bosnia and Herzegovina</option> <option value="BW">Botswana</option> <option value="BV">Bouvet Island</option> <option value="BR">Brazil</option> <option value="IO">British Indian Ocean Territory</option> <option value="BN">Brunei Darussalam</option> <option value="BG">Bulgaria</option> <option value="BF">Burkina Faso</option> <option value="BDI">Burundi</option> <option value="CPV">Cabo Verde</option> <option value="KH">Cambodia</option> <option value="CM">Cameroon</option> <option value="CA">Canada</option> <option value="CYM">Cayman Islands</option> <option value="CAF">Central African Republic</option> <option value="TCD">Chad</option> <option value="CHL">Chile</option> <option value="CHN">China</option> <option value="CX">Christmas Island</option> <option value="CC">Cocos (Keeling) Islands</option> <option value="CI">Colombia</option> <option value="COM">Comoros</option> <option value="CG">Congo</option> <option value="CD">Congo, the Democratic Republic of the</option> <option value="CK">Cook Islands</option> <option value="CR">Costa Rica</option> <option value="HR">Croatia</option> <option value="CU">Cuba</option> <option value="CUW">Curaçao</option> <option value="CY">Cyprus</option> <option value="CZ">Czech Republic</option> <option value="DK">Denmark</option> <option value="DJ">Djibouti</option> <option value="DM">Dominica</option> <option value="DO">Dominican Republic</option> <option value="EC">Ecuador</option> <option value="EG">Egypt</option> <option value="SLV">El Salvador</option> <option value="GNQ">Equatorial Guinea</option> <option value="ER">Eritrea</option> <option value="EE">Estonia</option> <option value="ET">Ethiopia</option> <option value="FK">Falkland Islands (Malvinas)</option> <option value="FO">Faroe Islands</option> <option value="FJ">Fiji</option> <option value="FI">Finland</option> <option value="FR">France</option> <option value="GF">French Guiana</option> <option value="PF">French Polynesia</option> <option value="ATF">French Southern Territories</option> <option value="GA">Gabon</option> <option value="GM">Gambia</option> <option value="GE">Georgia</option> <option value="DE">Germany</option> <option value="GH">Ghana</option> <option value="GI">Gibraltar</option> <option value="GR">Greece</option> <option value="GL">Greenland</option> <option value="GD">Grenada</option> <option value="GLP">Guadeloupe</option> <option value="GU">Guam</option> <option 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And that means giving women in finance a voice and a seat at the table. </p> <p>Though women have made great strides in the finance industry, they still face unique challenges and opportunities. But they’re nevertheless an integral and essential part of the sector. </p> <p>Find out what opportunities and challenges lie ahead in your finance career and how UNSW Online can help ensure the industry recognises your unique talents. </p> <h2>The current state of play for women in the finance world </h2> <p>Women have worked in finance since time immemorial, but they’ve only recently been recognised as a significant force in developing this increasingly important economic sector. </p> <p>Once, women heavily dominated administrative and support roles in finance because those were the only positions they were offered. However, they’ve been slowly gaining ground and today hold a broad range of positions across the world of finance, including working as investment bankers, financial analysts, and accountants. </p> <p>Despite these gains, they still face significant challenges. </p> <h3>Women in finance: the challenges </h3> <p>Women make up just over a third of the global workforce in the finance and insurance industries, yet only hold about 22 per cent of all finance jobs worldwide. </p> <p>Australia is no different when it comes to the gender gap. <a href="https://www.wgea.gov.au/data-statistics/data-explorer">Workplace Gender Equality Agency (WGEA) data</a> shows the financial services sector comprises 52 per cent women and 48 per cent men. However, women hold only 13 per cent of CEO positions, 28 per cent of Heads of Business, and 33 per cent of executives and general managers. </p> <p>These numbers are concerning, and they underscore the need for more women in the industry. </p> <ul> <li><strong>The gender pay gap.</strong> This is alive and well in Australia. According to <a href="https://www.wgea.gov.au/data-statistics/data-explorer">Workplace Gender Equality Agency data</a>, financial and insurance services have a pay gap of 26.1 per cent in Australia, making it one of the "<a href="https://www.investordaily.com.au/regulation/54722-financial-services-among-worst-gender-gap-offenders-wgea-reveals">worst offenders</a>" when it comes to industries with pay gaps. Many factors contribute to this gap, but one of the most important factors is that women aren’t often given the same opportunities as men. This is especially true in the finance industry where they’re often passed over for promotions or given less responsibility than their male counterparts. </li> <li><strong>Lack of diversity among senior leadership. </strong>According to a study by Credit Suisse, women make up just <a href="https://www.credit-suisse.com/about-us-news/en/articles/media-releases/credit-suisse-gender-3000-report-shows-women-hold-almost-a-quart-202109.html">24 per cent</a> of senior positions in the finance industry. Diversity issues lead to a lack of career advancement opportunities and a failure to understand female clients’ needs properly. </li> <li><strong>Gender discrimination. </strong>Whether unequal access to opportunities or lower pay, gender discrimination can negatively affect a company’s success. Women of colour are especially likely to face discrimination. A survey conducted by the advocacy group Women of Colour Australia in 2021 found that almost <a href="https://womenofcolour.org.au/workplace-survey-report-2021/#">60 per cent</a> of women of colour who responded had experienced discrimination in the workplace. To combat this, women need to be aware of their rights and pursue opportunities to advance their careers. </li> </ul> <h3>Here’s why we need more women in finance </h3> <p>Women have an essential role to play in the industry’s future. Here are just a few benefits of having more women in finance positions: </p> <ul> <li><strong>Diverse perspectives. </strong>Women bring a unique perspective to the table, which can be extremely valuable in finance. Diverse perspectives can help companies make better decisions, avoid risks and find new opportunities. </li> <li><strong>Improved performance. </strong>Studies show companies with more women in senior positions tend to outperform their rivals. For example, a <a href="https://www.mckinsey.com/~/media/mckinsey/business%20functions/people%20and%20organizational%20performance/our%20insights/women%20matter/women_matter_dec2009_english.pdf">study by McKinsey</a> found that companies that place women in top management positions are 15 per cent more likely to generate higher financial returns than those who don’t. </li> <li><strong>Workplaces can better attract and retain talent. </strong>Workplaces that are appealing to men and women alike can access a larger number of talented prospective employees. These types of workplaces tend to offer various benefits that support gender equality, such as flexible working arrangements, support for employees with caring responsibilities, and gender equality policies.</li> <li><strong>A different approach to risk management. </strong>Women tend to be <a href="https://theconversation.com/women-take-fewer-risks-because-they-think-about-losing-more-than-men-research-suggests-208334">more risk-averse</a> than men, which can help with decision-making and more prudent risk management. Women have a different perspective on risk, which can be an asset in an industry that’s all about managing risk. Studies have also <a href="https://www.wgea.gov.au/publications/gender-equality-business-case">suggested</a> that employees tend to stay in these workplaces for longer, as they view the workplace as "fair" and supportive of their needs. </li> <li><strong>Sustainable business practices. </strong>According to reports, women's leadership is also <a href="https://www.eib.org/en/stories/climate-women-profits">associated </a>with better climate outcomes and more innovation, including greater transparency about environmental footprints and greenhouse gas emissions. </li> </ul> <h2>How to advance your career as a woman in finance</h2> <p>Whether you’re just starting out or already have a foot in the door, there are many opportunities for women in the Australian finance industry right now. They include: </p> <ul> <li><strong>Working in various finance roles</strong>, including accounting, investment banking and wealth management. There are also opportunities to start female-owned and led businesses in the finance industry. </li> <li><strong>Add to your qualifications.</strong> Consider obtaining a degree in business, economics, applied finance or accounting to add to your skills and build your confidence. Degrees like the <a href="https://www.google.com/search?q=master+of+applied+finance+unsw&sca_esv=32288416509471f0&rlz=1C1GCEB_enAU1010AU1010&sxsrf=ADLYWIKTh58lftPUziY9pugoLrhwWHDiwA%3A1715304468204&ei=FHg9ZueQDJKUjuMP5Iij6A8&ved=0ahUKEwjn6oiM94GGAxUSimMGHWTECP0Q4dUDCBA&uact=5&oq=master+of+applied+finance+unsw&gs_lp=Egxnd3Mtd2l6LXNlcnAiHm1hc3RlciBvZiBhcHBsaWVkIGZpbmFuY2UgdW5zdzIFEAAYgAQyBhAAGBYYHjIGEAAYFhgeMgYQABgWGB4yCxAAGIAEGIYDGIoFMgsQABiABBiGAxiKBTILEAAYgAQYhgMYigUyCxAAGIAEGIYDGIoFMggQABiABBiiBDIIEAAYgAQYogRInAdQ1wJYxwZwAXgBkAEAmAG2AaAB9QSqAQMwLjS4AQPIAQD4AQGYAgWgAokFwgIKEAAYsAMY1gQYR8ICDRAAGIAEGLADGEMYigXCAgoQABiABBhDGIoFmAMAiAYBkAYKkgcDMS40oAeEHA&sclient=gws-wiz-serp">Master of Applied Finance</a> can be tailored to your career goals and help you upskill quickly. You can also receive certification from professional organisations such as the CFA Institute or the Chartered Financial Analyst Societies of Australia. </li> <li><strong>Joining a professional organisation. </strong>There are plenty of female-oriented professional organisations to join, such as the Financial Women’s Association or the Association of Women in Finance. These organisations offer opportunities to network, learn about new developments in finance and connect with other women in the industry. </li> <li><strong>Building more diverse networks. </strong>Build a more extensive network by attending conferences such as the Women in Banking and Finance events or the Financial Planning Association’s annual congress. You’ll learn about new developments in finance and network with other women in the industry. </li> </ul> <h2>Build your confidence so you can thrive in a male-dominated field </h2> <p>So, what’s the bottom line? We need more women in finance - whether they want to become <a href="//studyonline.unsw.edu.au/blog/how-to-become-a-financial-analyst">financial analysts</a>, <a href="//studyonline.unsw.edu.au/blog/how-to-become-a-finance-manager">finance managers</a>, <a href="//studyonline.unsw.edu.au/blog/how-become-cfo">CFOs</a> or somewhere in between. </p> <p>And the good news is there are many ways to make this happen. </p> <p>On top of the opportunities already mentioned, many initiatives aim to increase gender diversity in the finance industry. Women in Finance, She Loves Data and Girls Who Invest are actively working to increase gender diversity. There are also scholarships and programs available to help more women get into finance. </p> <h3>Take charge of your career and pursue further study in finance</h3> <p>If you’re looking for a career in finance, the <a href="https://www.google.com/url?q=https://studyonline.unsw.edu.au/online-programs/master-applied-finance&sa=D&source=docs&ust=1715233357330043&usg=AOvVaw2S1D9W9pr7tmSJlmX-f08C">Master of Applied Finance</a> program at UNSW could be the right fit for you. </p> <p>The program delivers a <a href="//studyonline.unsw.edu.au/blog/what-applied-finance">comprehensive education</a> in financial theory and practice so that you can confidently apply, manage and lead financial functions at all business levels. Each student can tailor their studies to suit their career path, as well as build a solid foundation to pursue the Chartered Financial Analyst (CFA) designation.</p> <p>For more details about how <a href="//studyonline.unsw.edu.au/online-programs/master-applied-finance">UNSW Online’s Master of Applied Finance</a> can advance your career, visit our website or reach out to our Enrolment team on 1300 974 990.</p></div></div></div><div class="field-collection-container clearfix"> </div><ul class="flippy"> <li class="prev"> <a href="/blog/corporate-finance-australia" title=""></a> </li> <li class="next"> <a href="/blog/data-ethics-overview" title=""></a> </li> </ul> </div> <footer> <address class="authorbio"> <div class="user-info"> <div class="user-name">by <span rel="author">cheryl.mcgrath</span></div> <div class="user-bio"></div> </div> </address> </footer> </article> </div> </div> <aside id="page_content_sidebar_lower" class="region region-content-sidebar-lower region-content-sidebar sub-region"> <section id="block-multiblock-4" class="block block-multiblock blogcats bdk-ltgray"> <header> Categories </header> <div class="content"> <div class="view view-blog-categories view-id-blog_categories view-display-id-block view-dom-id-3e487cf621ebd40bfb3038ec93b636bc"> <div class="view-content"> <div class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/analytics">Analytics</a></span> </div> </div> <div class="views-row views-row-2 views-row-even"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/applied-finance">Applied Finance</a></span> </div> </div> <div class="views-row views-row-3 views-row-odd"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/cyber-security">Cyber Security</a></span> </div> </div> <div class="views-row views-row-4 views-row-even"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/data-science">Data Science</a></span> </div> </div> <div class="views-row views-row-5 views-row-odd"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/financial-technology">Financial Technology</a></span> </div> </div> <div class="views-row views-row-6 views-row-even"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/human-resource-management">Human Resource Management</a></span> </div> </div> <div class="views-row views-row-7 views-row-odd"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/management">Management</a></span> </div> </div> <div class="views-row views-row-8 views-row-even"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/marketing-analytics">Marketing Analytics</a></span> </div> </div> <div class="views-row views-row-9 views-row-odd views-row-last"> <div class="views-field views-field-name"> <span class="field-content"><a href="/category/unsw-online-study">UNSW Online Study</a></span> </div> </div> </div> </div> </div> </section> </aside> </div> </main> <div id="page_lower" class="region region-lower super-region"> <div class="content"> <section id="block-bean-ready-to-get-started" class="block block-bean advisor wborder"> <header> Ready to get started? </header> <div class="content"> <div class="entity entity-bean bean-custom-block clearfix" about="/block/ready-to-get-started" typeof=""> <div class="content"> <div class="field field-name-field-content field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><p><img alt="" class="b-lazy" data-src="/sites/default/files/icon-support.svg" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /></p> <h2>Speak to an Enrolment Advisor</h2> <p>Investing in the right program for you is important to us and we’re here to help. 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