Women in fintech 2022: The state of play
Women are staking a claim in fintech, but there is still a way to go.
Tech has always had a bit of a gender problem, but gradually, things are getting better. Deloitte Global predicts that on average, large global technology companies will reach nearly 33 per cent overall female representation in their workforces this year, an increase that is slightly more than two per cent on 2019’s figure.
When it comes to women in technical roles, the figures are lower, with only around 25 per cent of women represented. Segmenting things, when we look at Fintech, and roles within financial services-related jobs, the picture looks gloomier.
A June 2022 report on advancing more women leaders in financial services found that globally in 2021, within financial services institutions, women held 21 per cent of board seats, 19 per cent of C-suite roles, and just 5 per cent of CEO positions. In the UK specifically, those figures were 17.4 per cent in the C-suite, 21.8 per cent in senior leadership roles, and 26.4 per cent in “next generation”, or manager or equivalent titles which are below senior leadership jobs.
Fintech has some work to do. While an EY survey from June delivered the positive news that 76 per cent of women working in the sector believe their firm is inclusive, and 56 per cent feel it is diverse, female founders reported having a harder time of things. Less than half of female founders (45 per cent) feel able to raise equity capital, compared to 62 per cent of men, and just 31 per cent of women feel able to access debt funding. This compares to 44 per cent of men.
Other points of note from the survey were that among junior to mid-level employees, 63 per cent of female respondents believe their gender impacts on how they are perceived professionally and when it comes to salary negotiations, 32 per cent of women claimed to have negotiated on compensation, with 51 per cent getting all or nearly all what they asked for. That compares to 42 per cent of men saying they negotiated on compensation, with 69 per cent receiving all or nearly all of what they asked for.
Lastly, while one in four overall tech roles done by a woman is a technical one, as above, when it comes to fintech, 26 per cent of women in the sector are in roles such as chief people officer or head of HR, followed by chief marketing officer and chief financial officer, according to recent research by findexable.
If you’d like to make a move within the industry, we’ve got a look at three roles below that are worth checking out – as well as plenty more to discover on the AltFi Job Board.
Software Engineer, Lloyds Banking Group
NET Developer, Noir Consulting
Client Engagement Manager, eClerx
eClerx is looking for a talented Client Engagement Manager (CEM) who will be responsible for partnering with clients to help them achieve their goals through consultatively developing solutions that best leverage products and services. You should have a strong understanding of capital markets, the ecosystem of businesses and departments participating in and servicing those markets, their underlying platforms and operating models, and the industry forces driving structural changes. You will need a Bachelor’s degree (or equivalent) in business or finance, excellent problem-solving and consultative capabilities with change the bank experience and domain knowledge and industry awareness of market operations, middle office, asset servicing, reference data and compliance, risk, and finance. Interested? Get the full job spec here.