If you speak to any woman who’s participated in a work experience in the financial sector, studies a finance-related degree, or works in a finance-based role, the chances are they will tell you they have felt outnumbered and/or discriminated against due to their gender. From being told I wouldn’t succeed in investment banking by male peers in a financial work experience call to having multiple clients ask to speak to a male colleague instead during my insurance broking role, I have definitely fallen victim to this, and I know many women reading this are in the same boat. In light of it being March (Women’s History Month), here is an article dedicated to the challenges many women face in the financial world of work and the specific programmes designed to help overcome them.
A recent study published by Funds Europe found that of the 108 economic sectors examined, 87% are biased towards men across recruitment and promotion. A very common sector of interest for many current students studying finance-related degrees is investment banking, and this same study found this industry to be 85% male across all roles (with senior roles being even worse, as 92% of chairpersons are male). This study was conducted using new AI software, which analysed all companies with English websites, a UK-registered address, and recognisable descriptions. Despite concerns that AI could be less accurate, it eliminates gender bias that could otherwise occur from a human researcher, making the conclusions all the more groundbreaking.
Moreover, research published by the FCA supports this, with an even more concerning figure showing that only 17% of FCA-approved individuals are female—a number that has remained shockingly consistent since 2005. However, projections indicate that by 2030, the proportion of women in leadership positions within financial services is expected to grow to 28%, showing that progress is definitely occurring; and it is current female students who can make the difference.
With research proving that more equal gender diversity in the workplace is economically beneficial for firms, there has been a huge push from companies to recruit more women into the financial sector, especially investment banking. This has brought a number of career-boosting opportunities to provide training, mentorship, and experience to help bridge the gender gap in this industry. Here are some opportunities you should look out for:
GAIN - Girls Are Investors
GAIN is a dedicated organisation that supports young women and non-binary students in launching careers in investment management. It has successfully placed over 360 students in investment internships, with 63% receiving offers for full-time roles or additional internships. GAIN offers several opportunities, including the School Investment Challenge (Years 10-13) which teaches stock analysis basics, an Investment Insight Programme which helps university students secure spring weeks, and the Empower Investment Internship Programme: A competitive summer internship with top UK firms, helping young aspiring female bankers receive mentoring and training.
Women’s Investing Academy - Goldman Sachs
This programme is designed for students graduating in 2026 or 2027 and provides valuable insights into investment banking concepts and industry trends. It also offers unparalleled networking opportunities within one of the UK’s leading investment banks.
Morgan Stanley
This highly regarded investment bank offers numerous diversity programmes within their company. Some noted opportunities include the Step-Up Programme for A-level Students, which is a great early introduction to the world of finance, and spring weeks for female first-year students.
Multiple other firms, such as HSBC, also offer similar opportunities.
It is also important to note that work experience is not the only thing that will help more women excel in finance. One of the biggest challenges for women in investment banking is overcoming self-fulfilling biases that exist within hiring and promotion processes. Workplace culture can often make women feel isolated, discouraging them from applying for leadership positions. To counteract this, it is crucial for aspiring female bankers to seek out role models and mentors. Successful women such as Lori Beer, Global Chief Information Officer at JP Morgan Chase & Co, and Mary Callahan Erdoes, CEO of Asset and Wealth Management at JP Morgan, serve as inspirations for the next generation.
While investment banking and other financial roles remain a challenging field to enter for women, the increasing availability of women-only work experience programmes, networking initiatives, and role models is a great sign. It is also important for us to stick together to break gender stereotypes and offer support for one another so we can challenge gender diversity in finance for the better.