From our active candidates registered within governance and finance in financial services, it is clear that there is a significant rift between the genders in the sector.
A female short sector
Studying a sample of 1,000 active candidates registered with Morgan McKinley, it was revealed that the overwhelming majority are male (77%) and just 23% are female. Across the differing areas, audit appears to be the most popular for women.
A sample of 1,000 active female candidates gave an insight into the split across Financial Services. This displays that internal audit is where the highest percentage of women are employed or looking for work. Compliance and financial control were the next most favourable, with 18% of the sample each, closely followed by market risk. Product control (13%) and credit risk (10%) are at the bottom of the pile.
The female population across the risk market
As seen above, market risk and credit risk are not hugely popular areas within financial services for women. When it comes to the type of positions within risk that women fulfill, roles within Bulge Bracket Banks are the most popular destination within both credit risk and market risk.
The percentage split of female population across governance
In contrast to the dominance of Mid Tier and Bulge Bracket Banks in the risk market, there is more of a spread across governance. Mid Tier are the most common destination for female candidates in compliance, but Bulge Bracket and asset management are not far behind and there is a fair spread across regulatory and Big 4, with energy coming in with the smallest percentage.
Internal audit sees Bulge Bracket as significantly the most popular, followed by Mid Tier and a small representation in both regulatory and Big 4.
Bulge Bracket and Mid Tier dominant for women in finance
Within financial control, the vast majority of female candidates are positioned in Mid Tier, whilst Bulge Bracket holds around a quarter of the female population. Asset management and energy both hold small slices of the female population in financial control. Bulge Bracket dominates product control with over half of the female market, and Mid Tier over a quarter, with asset management and energy making up the remainder.
Will we see the gender rift decreasing?
These figures of women across the financial services display just how male dominated the sector is. This said, it wouldn’t be surprising to see a bit more of a balance being established in the coming years as the need for a diverse workforce becomes more of a priority. Female candidates for senior level roles are particularly desirable in compliance, internal audit and risk.
To see our infographic of all the data, click here.
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