The Story:
As women continue to make gains in the banking and financial services sector, their leadership is already being felt across their teams with notable wins and innovative solutions for their institutions. But despite their majority positions in entry and mid-level roles at financial institutions, women’s representation still lags behind at the upper management levels of their organizations. McKinsey & Company’s “Women in the Workplace” report finds that women hold less than one-third of senior vice president and C-suite positions in banking. Even more, the gender wage gap tends to widen the higher up the ladder women climb. But influential women in banking have some ideas for making meaningful change.
The Takeaway:
According to Adrenaline’s Celebrating Women in Banking, organizational change will help with onboarding women at all levels. “I believe the banking industry can do better in identifying high-potential woman leaders and empowering their confidence and skill development,” says Melanie Alves, VP of Specialty Branch & Merchandising Support at PNC Bank, quoted in the article. “I have been in banking for 17+ years in seven different job roles, and each one has given me the opportunity to work for a dynamic woman leader.” Women who break through barriers themselves are leading the way for others, according to Deborah Lumpkin, Centier Bank’s Senior Partner. “Significant female leaders have paved the way for future generations to achieve leadership positions in the industry.”
Source: Investopedia, “Why Are So Few Women in Finance? It’s Complicated,” February, 2025, McKinsey & Company, “Women in the Workplace,” September, 2024, and Adrenaline, “Celebrating Women in Banking,” March, 2024