FGV research shows that 39.25% of professionals in the area are women against a male participation of 60.75%
Study carried out by Finance Studies Center from the FGV (Fundação Getulio Vargas) shows that women are underrepresented in the Brazilian finance sector, both in terms of positions and remuneration. Here’s the full (1 MB).
In all, 214 questionnaires were applied to people who work in the Brazilian finance market, in order to understand the challenges for female participation in this area. Among the participants, 39.25% were women, against a male participation of 60.75%.
Although female representation in the sector is lower, the women who participated in the survey reported that they work around 60.4 hours a week. For men, 57.8 hours in the same period.
“We can see that women work more and are less paid compared to men within the financial market in Brazil”said Claudia Yoshinaga, coordinator of the Center for Studies in Finance.
According to data prepared by the think thank you of Omfif (Official Monetary and Financial Institutions Forum), women occupy only 35% on the boards of the 50 largest commercial banks in the world.
When considering leadership positions, the rate is even lower. Female representation drops to 19%. Among CEOs, only 16% are women.
The FGV study shows that gender inequality is greater in Brazil. In the world, 18% of professionals certified by the CFA (Chartered Financial Analyst) are women. In the Brazilian market, the rate drops to 11%.
The foundation’s survey also considered the 1st training of professionals working in this area. Here are the courses answered by men and women:
- administration – 63.55%;
- economy – 14.95%;
- engineering – 12.15%.
PROFESSIONAL GROWTH
The study carried out by FGV also says that women tend to face more difficulties in terms of professional growth within the finance sector.
Here is the distribution by positions in absolute numbers:
- analyst – 30%;
- manager – 15.9%;
- associates –13%;
- partners – 11%;
- director – 8.4%;
- superintendent – 7%;
- trainee – 6.5%;
- vice president – 2.8%.
Research shows that the distribution of analyst positions is almost equivalent, but that in higher positions in the profession, female representation drops. Only 7% of respondents claimed to hold leadership positions.
“Women are a minority at the top of the financial career and deal with a double glass ceiling: reaching managerial positions and higher-paying positions”said Claudia Yoshinaga.
The expert stated that “the only subareas in which women are in the majority are those related to administrative and support functions, where women represent 10.7% against 5.4% of the male portion interviewed in this survey”.
WAGE INEQUALITY
The FGV study also showed that women who are part of the finance sector only appear in the highest positions such as partners or directors.
In other professional positions, from intern to superintendent, there were no women with higher salaries than men who occupy the same positions.
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