How can women in Fintech break the glass ceiling

Breaking through the glass ceiling in fintech

While 30% of the fintech workforce is female, only 17% of senior fintech roles are female.

To close the gender gap in fintech, we must first understand the root causes of why this disparity exists.

I got my first finance job when I was 18, working in the City of London. At the time, I was one of the only women and often felt outnumbered and outgunned by my male colleagues. Unfortunately, I recall several occasions where I was told that I “wasn’t cut out for the financial industry” or “wouldn’t be able to handle it”.

Despite the challenges, I loved my job and was determined to succeed. After a couple of years of hard work, I was promoted to a more senior position in the company. Now I run a successful fintech consultancy and employ a diverse team around the world.

Here is my advice to women who want to break through the glass ceiling in fintech:

The development of the glass ceiling

The term “glass ceiling” was first used by Marilyn Loden in 1978. It described the invisible barrier to success many women faced in business. Now the term is used more broadly to describe any artificial barrier based on an individual’s gender, race, or other immutable characteristics that limits their progress in the workplace.

The glass ceiling exists because of both implicit and explicit bias. Implicit bias is when someone unconsciously prefers one thing over another. For example, you may have a preference for a certain type of music without realizing it. Explicit bias is when someone consciously prefers one thing over another. For example, you may consciously prefer a certain type of music because you think it is better than other types of music.

Both implicit and explicit bias can lead to discrimination in the workplace. When women are not given the same opportunities as their male and white counterparts, it creates a glass ceiling that is difficult to break.

Shattering the glass ceiling

Despite the challenges, there are many things women can do to break through the glass ceiling in fintech.

Strengthen your network

One of the best things you can do is build a strong network of mentors, sponsors and colleagues. A mentor is someone who can provide guidance and advice. A sponsor is someone who can advocate for your career development. And colleagues are people you can count on for support and cooperation.

When you have a strong network, you have people you can turn to when you need advice or help. You also have people who can vouch for your skills and abilities.

Some ways I have built my network include:

• Attend conferences and meetings: when I started my career in finance, I attended as many conferences and meetings as possible. This was a great way to meet people in my field and learn about new opportunities. My role was very focused on sales and business development, so it also helped me to make new contacts and expand my network.

• Reach out to people I admire on social media: With a lack of women in fintech leadership positions, finding mentors can be difficult. I have overcome this challenge by reaching out to people I admire on social media. This has allowed me to connect with some amazing women who are willing to share their advice and experiences with me.

Advocate for yourself and others

In order to advance in your career, it is important to speak up for yourself. This means you know your worth and ask for what you deserve. It also means speaking up when you see someone being treated unfairly.

When you speak up for yourself, you’re more likely to get the opportunities and recognition you deserve. And when you advocate for others, you help create a more inclusive environment for everyone. For example, when you see a colleague being passed over for a promotion, speak up and ask why they weren’t considered. Or, if you notice that your team is mostly made up of people from one demographic, reach out to your HR department and suggest that they diversify the team.

Celebrate your achievements

Another important thing you can do is praise and celebrate your achievements. This is something women often don’t do enough of. We tend to downplay our achievements and brush off compliments.

But it is important to pat yourself on the back when you have done a good job. Not only does it make you feel good, but it also shows other people that you are confident in your abilities. This is important for both your personal and professional development.

Some ways I’ve celebrated my accomplishments include:

• Writing about them on social media: When I achieve something at work, I like to write about it on social media. This is a great way to share your achievements with your network and also serves as motivation for other women.

• Treat me to a good dinner or something I’ve been craving: One of my favorite things after a big achievement is to treat myself to a nice dinner or something I’ve been craving. This can be anything from a new piece of jewelery to a plane ticket somewhere beautiful. Whatever it is, it’s a great way to reward yourself for all your hard work.

Invest in yourself

Do you want to learn new skills or knowledge? Do you want to advance your career? Whatever your goals are, it’s important to invest in yourself. This means that you take the time and effort to improve your skills.

There are several ways you can do this, for example:

• Take an online course: Many great online courses are available on various topics. If you’re interested in learning something, chances are there’s a course for it. This is a great way to learn at your own pace and fit it into your busy schedule.

• Read books and articles: Another way to invest in yourself is to read books and articles on topics that interest you. I usually encourage my team to spend at least an hour reading and learning to help them develop each week. This helps them stay updated with the latest trends and developments. I’m also a big fan of personal development and business books. Some of my favorites are, How to Win Friends and Influence People by Dale Carnegie and The Alchemist by Paulo Coelho

Final thoughts:

Breaking the glass ceiling can be challenging, especially if you are a woman in a male-dominated field. But it is important to remember that you have the power to create change. You can advocate for yourself and others, praise and celebrate your achievements and invest in yourself.

And remember, even if you don’t make it all the way to the top, you’ll be making progress for all women along the way. Every step you take is one step closer to helping women break the glass ceiling.

So let’s all do our part to help create change!