Why do we need more women in finance? Diversity has become a program of paramount importance in modern-day workplaces. However, including more women in the financial industry isn’t just a passion-driven plan. Experts believe an equal number of women, if not more, in the financial industry can lead to more financial stability today. A Mercer study confirms that including more women allows banks to take on fewer risks, yielding better financial outcomes. Moreover, we cannot neglect that analysis by The Guardian depicting how women are smarter when it comes to financial decision-making than men! That’s why more women are needed in the financial industry in 2022 to improve the status of our country’s banking sector.
Jobs for women in finance
Adding more women improves the profitability of the financial industry, studies have indicated. In 2018, a McKinsey survey showed that including more females lets companies establish stronger relations with their clientele. Also, women-led teams work better, thereby effectively meeting challenges on behalf of their organizations. Therefore, firms are accepting more women in top-level positions now. Here’s a chance for female students to acquire some of the most lucrative employment opportunities in this sector today. What jobs are waiting for women in the financial industry? We’ve penned down some of the most prestigious finance-related careers for women here. So, let’s start the list now, shall we?
Who says women aren’t good with numbers? We require more women in accounting today to allow the business industry to prosper financially. Women can acquire several accounting-related jobs, e.g., bookkeeping, financial management, and forensic accountancy. These jobs pay more than $70,000 yearly, while the paycheck gets fatter with experience. In short, you shall be responsible for maintaining the accuracy of a company’s financial statements as an accountant.
Generating funds for a company doesn’t just require acute financial expertise, but also public dealing skills. And women marvel at both these aspects of being a fundraiser for an organization! In 2020, a fundraiser made almost $60,000 a year, collecting money on a company’s behalf. This job’s all about organizing events to generate donations for the organization. Also, fundraisers reach out to some donors and then persuade them to contribute monetarily. You also create proposals for grants.
As women are well-versed with organizational capabilities, they can become outstanding controllers today. A controller directs, supervises, and coordinates operations functions in the finance sector. A woman’s tasked with developing internal policies and preparing financial statements for a company. Moreover, controllers are responsible for forecasting the financial position of a business after taking into account its activities. These experts are paid over $90,000 a year for their financial services.
- Financial planner
From individuals to organizations – everyone wants to know how to manage their finances. Women can now pursue finance-related careers to become financial planners and suggest unique and proper methods to enhance their clients’ planning sessions. They should crunch numbers and apply accounting principles to create profitable moneymaking investment strategies for their clients. This job pays you just over $90,000 on average. But gaining more experience leads to better earnings.
- Purchasing manager
An underlooked feature of finance-related careers involves purchasing managers. These experts are responsible for purchasing services/products for the company. Also called supply managers, they’re negotiating on the company’s behalf and reviewing the quality of products. They ensure the company gets the best goods at the lowest price possible. Women, with their critical public dealing skills, can negotiate effectively. Furthermore, this job lets you earn $70,000 annually on average.
- Investment analyst
Around 56% of American adults owned stocks in 2021, indicating that more folks need sound investment suggestions. So, investment analysts are responsible for predicting and suggesting investment-related information. Their evaluations are based on cost-analysis reports too! These suggestions enable investors to become profitable and protect their investments from future losses. It’s estimated that investment analysts earn over $90,000 on average each year today.
- Business teacher
What’s more gratifying than teaching students about the world of finance? Business schools seldom pass the opportunity to hire accomplished women in accounting to educate undergrads. Now, some bottom-level business teachers hardly earn $50,000 for their services. But good teachers can pass the mark of $90,000 on average easily! Your job will be about lecturing young minds on the basics of accounting. You can teach them everything about marketing, investments, and business ethics.
- Insurance underwriter
Women should consider unique careers such as becoming insurance underwriters. These people are responsible for evaluating the risks associated with insuring things/people. Their assessments help them create realistic insurance plans for applicants. In short, this job involves insuring a company based on the chances of a claim based on the future. Women can leverage their acute insights to perform this responsibility effectively. Insurance underwriters make around $60,000 annually.
- Real estate agent
Have you considered a career in real estate? Real estate agents can provide guidance and assistance to buyers/sellers. Clients need realtors to learn about market conditions before purchasing some ill-fated property. With your accounting background, you can turn into a commercial agent. Commercial real estate agents can make more than $80,000 a year! This job deals with you dealing with business properties and advising firms regarding buying/renting spaces for their activities.
- Personal financial advisor
We’ve stated how women outperform other genders when it comes to financial decision-making. A woman should consider pursuing her career as a personal financial advisor. You’ll be responsible for giving finance-related suggestions to individuals about what they should do with their money. These individuals pay hefty sums for female experts who can help them plan short-term and long-term goals. Financial advisors can make around $90,000 annually while giving valuable opinions.
How are women represented in our financial industry? Statistics show that women constitute some 53% of the entry-level workforce in the banking sector but not even one-third of C-suite levels! So, we expect to include more female presences in this industry. This article deals with some finance-related careers for women. From controllers to accountants – there are many jobs in the industry for the ambitious! Women can acquire finance-related career opportunities, e.g., fundraisers, business teachers, and even purchasing managers. Moreover, women should acquire top-notch positions, including analysts and advisors in this sector. Hence, these are some of the best finance-related jobs for women in 2022 and beyond.