A Feminist’s first year in finance

Young people continue to be subjected to an outdated narrative throughout their education. There are still expectations around the skills and roles traditionally associated with gender, and this translates into the subjects and careers both women and men pursue. Between 2017/18, only 35% of students in the UK studying STEM subjects at higher education were women, which in turn leads to significant underrepresentation in industries such as engineering, technology, and finance.

Admittedly I was sceptical about the industry. My perception was moulded by the ‘pale, male and stale’ stereotype – a stereotype exacerbated by the glaring lack of women in leadership positions. A recent study into the top 100 companies of the FTSE, NYSE and NASDAQ found that, of the 300 positions of Chair, CEO and CFO, only 8.6% were held by women. A young woman considering a career in a firm that has little to no females in positions of power is unlikely to believe in her own potential to fill those roles.

While large firms seem keen to drive initiatives for change, they’re often fighting to overturn deeply engrained traditions and historic recruitment practices. When the equality sentiment is not necessarily shared by the company as a whole, it makes progress slow, especially with regard to internal workplace culture. A business where women are underrepresented and often overlooked is not going to attract hordes of female applicants.

This is one of the benefits of being part of a start-up company; by their very nature, small businesses focused on change and innovation are able to place diversity and inclusion at the top of their list of priorities from the outset.

However, it takes more than just a shared ambition to instil meaningful change. Our development team for example, is male-heavy simply because of the lack of female developers looking for roles in financial technology. In an effort to encourage more young women to pursue careers in development, the Door team in Liverpool is engaging with local universities to educate and recruit young female talent.

If a small company like Door can inspire even a handful of women to enter the finance industry, imagine what enormous firms with vast amounts of resource are capable of. They may be investing time and money into positive campaigns, but the real value lies in education and empowerment. Young women in schools and universities need to be provided with a better understanding of careers in finance and must also be reassured that the environment they are entering is welcoming and supportive.

Ensuring women are elevated and celebrated in male-dominant spaces will encourage more to pursue careers in those areas, as it will only be when the pool of women coming through the industry expands that the gender imbalance will start to shift. If firms are genuine about having an equal workforce, they must ensure that they provide the foundation to make it possible.

Ellie Brown – Client Success Executive