50 Years of Women on the Trading Floor
March 2023 marked the 50th anniversary of the first woman to work on the trading floor of the New York Stock Exchange. It was a major milestone for gender equality in finance, but as we reflect on this historical moment, it’s clear that much work still needs to be done to increase diversity in the industry.
Women are underrepresented in finance
Despite progress over the past few decades, women remain vastly underrepresented in finance, particularly at the senior leadership level. In fact, according to a study by the National Bureau of Economic Research, women make up just 9% of senior investment management positions in the US.
This lack of diversity is not just a moral issue, but a business one. Numerous studies have shown that companies with more diverse teams at the top are more innovative and approach problems in a more rounded way. Diversity leads to better decision-making, more creativity and ultimately, better business outcomes.
Women are collaborative and inclusive
One of the reasons for this is that women approach issues and problems in a different way to men. Research has shown that women tend to be more collaborative and inclusive in their decision-making, which can lead to better outcomes for everyone involved.
Women working in finance
Furthermore, there is a huge opportunity for women working in finance to create products and services that women use. Women make up half of the world’s population, and yet many financial products and services are still designed with men in mind. By increasing the number of women working in finance, we can ensure that the industry is more representative of its customer base, and better equipped to meet their needs.
Companies have a responsibility to prioritize increasing diversity at leadership levels
Companies have a responsibility to prioritize increasing diversity at leadership levels, and to create an inclusive environment that attracts and retains talented women. This can include implementing policies like flexible working, mentoring programs, and unconscious bias training. It’s also important to celebrate and promote the successes of women in the industry, and to provide visible role models for future generations.
Work with us
If you are interested in recruiting and retaining more women in your organisation or improving your women in leadership figures or early careers targets, contact us today.