Women occupy a central role in finance these days — serving as influential strategists in an era of rapid technological evolution, increasingly complex global markets, and heightened stakeholder expectations. Not only are women driving innovation and guiding risk management practices throughout the field; they’re also serving as champions for ESG governance principles while helping organizations adapt to ever-changing consumer demands.
Thinking about a career in finance? Learning about famous women in finance and exploring some empowering women in finance statistics could be the push you need to take the next step.
The Evolving Role of Women in Finance
Over the past couple of decades especially, women have increased their visibility in the field of finance while challenging existing stereotypes. Today, women play critical roles in finance in investment banking, hedge funds, corporate finance departments, and even venture capital firms.
Why Women in Finance Matter
Women being represented in finance is essential because studies have shown that diverse leadership teams yield better finance outcomes and more robust decision-making. By including women in senior finance roles, businesses can improve their risk assessment, build stakeholder trust, and enhance corporate governance in the process.
Women’s Impact on Financial and Business Strategy
Over the years, women have ascended more readily into decision-making positions within the finance industry. In doing so, they’ve been able to demonstrate their own values and approaches to identifying opportunities, managing portfolios, and responding to market changes.
In many ways, women in finance have also been successful in expanding the definition of a successful business strategy to focus on long-term resilience rather than short-term gains alone. They also bring a fresh perspective to the table that emphasizes the importance of human capital, community impact, and environmental sustainability.
Aligning Financial Strategy with ESG and CSR Initiatives
Women in finance have proven their own success in aligning financial strategy with other important initiatives, including those related to environmental, social, and governance (ESG) and corporate social responsibility (CSR).
ESG Integration
Women leaders who are drawn to holistic measures of success have been extremely successful in integrating environmental, social, and governance (ESG) factors into their work, ensuring that business strategies properly align with sustainability and ethical considerations.
Female-led financial institutions, for example, may increase their investments in renewable energy to support microfinance programs that empower underserved communities — thus demonstrating that profitability and purpose can coexist.
Corporate Social Responsibility (CSR)
When female leaders prioritize CSR in their work, they can foster long-term stakeholder relationships while boosting their organization’s reputation. Plus, a focus on CSR in finance can mitigate risk by reducing liabilities related to environmental damage or claims of social inequity.
Incorporating Technology and Data-Driven Strategies
Women in finance are also known for embracing new technologies and using them to their advantage, including such emerging technologies as artificial intelligence (AI), machine learning, and advanced analytics.
Applying this technology, it may be possible to better forecast trends, optimize investment portfolios, and enhance the customer experience as a whole. Meanwhile, women have been leading digital finance transformations to influence how businesses integrate online platforms, blockchain solutions, and apps into their business models.
Finally, women leaders are known for focusing on responsible and ethical data use in their finance work. By protecting consumer data and privacy and advocating for policies that balance innovation with consumer rights, these leaders are paving a better way forward.
Key Qualities Women Bring to Finance and Strategy
When it comes to the world of financial strategy, women bring plenty to the table — particularly as it relates to collaboration, long-term value, stability, and adaptability.
Emphasis on Collaboration and Communication
Women leaders in finance are known for fostering open dialogue, clear communication, and encouraging collaboration across teams and departments. Through this approach, women in finance can ensure that strategic decisions consider all perspectives to reduce potential blind spots and implicit biases.
Long-Term Value Creation Over Short-Term Gains
Whereas some male leaders in finance may tend to focus on short-term gains, women in finance often champion sustainable and long-term growth while considering factors like:
- Environmental impact
- Corporate ethics
- Social responsibility
When women in finance look beyond quarterly earnings statistics, they can guide businesses toward strategies that lead to lasting success.
Risk Management and Stability
Research has suggested that women, in general, tend to be more risk-averse than men. In a finance setting, this could mean taking a more measured approach to investment risk while balancing growth ambitions with careful analysis and decision-making. This stabilizing influence could help companies better navigate less favorable market conditions with confidence.
Adaptability and Openness to Innovation
Female leaders in finance have also demonstrated their willingness to embrace new technologies and methodologies. From leveraging big data analytics to adopting new fintech solutions, women seem to maintain an open mind when adapting to emerging technologies and exploring alternative financing models.
Emotional Intelligence and Inclusive Leadership
Top women in finance may possess soft skills like empathy and emotional intelligence that can create better workplaces for all. Applying these essential soft skills, women can create more inclusive workplace cultures while encouraging employees to voice their concerns, commit to strategic initiatives, and share unique ideas with team members.
Real-World Examples of Women Driving Innovation in Finance
Looking for inspiration? Explore some real-world examples of women who have made a notable difference in the financial sector.
Jane Fraser (CEO of Citigroup)
In 2021, Jane Fraser was appointed as chief executive officer (CEO) of Citigroup and became the first woman to serve in this executive role in a major U.S. bank. She has also been listed as one of Fortune‘s “Most Powerful Women in Business” and was named the “Number 1 Woman to Watch” for two consecutive years by American Banker.
Abigail Johnson (CEO of Fidelity Investments)
Abigail Johnson has served as president and CEO of Fidelity Investments since 2014. Additionally, she has proudly served as a member of the Committee on Capital Markets Regulation and a board of directors member for the Securities Industry and Financial Markets Association.
Thasunda Brown Duckett (CEO of TIAA)
Although she now serves as CEO of TIAA, Thasunda Brown Duckett has held several executive roles in finance during her career — including CEO of Consumer Bank and Director of Emerging Markets at Fannie Mae. In addition to her leadership, she has also received many accolades for her work and even been named one of Time Magazine‘s “Most Influential People in the World.”
Rosalind Brewer (Former COO of Starbucks and CEO of Walgreens Boots Alliance)
As an American businesswoman, Rosalind Brewer was the first female COO of Starbucks before moving on to become CEO of Walgreens Boots Alliance. She served in this role until 2023, when she stepped down to serve as a member of the President’s Export Council. During her time at Walgreens Boots Alliance, she was the only Black woman to lead a Fortune 500 company.
Kirsten Green (Forerunner Ventures)
As one of the most famous female venture capitalists, Kirsten Green now serves as founder and managing partner of Forerunner Ventures. Throughout her career, she has been recognized as one of the “World’s 100 Most Powerful Women” by Forbes and one of Time‘s “100 Most Influential People.” Meanwhile, she has founded a female mentorship program known as All Raise and is known for speaking out about male-dominated fields.
Overcoming Barriers and Fostering an Inclusive Financial Industry
Despite making significant progress over the years, women still face obstacles in their work — and changes still must be made if we wish to foster a more inclusive financial industry for professionals of all backgrounds.
Addressing Gender Gaps
Women in finance continue to face hurdles regarding disparities and limited representation at the executive level. In fact, one State of the Workforce Report by ADP found that the average hourly wage for men in finance is $40, whereas women make just $27 per hour.
Women who have overcome the odds and risen to leadership roles in finance, however, have been sending the proverbial elevator back down — often advocating for policies that improve recruitment, retention, and promotion of diverse talent.
Mentorship and Sponsorship Programs
In an effort to bridge gender gaps and other disparities in finance, some companies have implemented peer mentorship networks, leadership training initiatives, and targeted scholarships for underrepresented groups in finance. These may help inspire future generations to enter the field while ensuring a pipeline of new talent that can sustain cultural shifts.
Public Commitments and Transparency
It has become more commonplace in the financial sector for firms to set gender and diversity targets — assessing and reporting progress every so often. These initiatives are often influenced by women leaders who champion accountability. This much-needed transparency may encourage other organizations to invest in inclusivity while keeping the industry more honest.
Cultural Change for Innovation
When financial companies foster more inclusive work environments, they stand to benefit themselves. That’s because diversity and inclusion aren’t just moral imperatives, but rather, they can lead to a richer idea pool, higher adaptability, greater problem-solving, and more innovation.
How a Finance Degree Can Prepare Female Financial Innovators
A finance degree program can impart the technical expertise that future leaders need to succeed, but the right program should also foster the confidence and adaptability that women in finance need to break barriers, introduce new perspectives, and drive meaningful innovation within the industry.
At Baker College, our finance and business degree programs through the College of Business provide a solid foundation in analytical thinking, risk assessment, strategic decision-making, and other core competencies that future female finance professionals can leverage in order to thrive. With dedicated coursework in financial theory, market analysis, and investment strategies, students can develop the necessary skills to be effective communicators, leaders, and collaborators in the dynamic field of finance.Reach out to learn more about our undergraduate and graduate-level finance programs, including our MBA in Finance that allows you to complete your business degree online. Ready to take the next step toward a degree in business or finance? Complete your online application for admission today!