The share of women in global C-suite roles in the financial services industry worldwide grew gradually between 2012 and 2023, reaching 18.4 percent in 2023. This slow but steady growth tendency is expected to continue in the following years, reaching 21.8 percent by 2031.

In 2024, there were roughly 591,000 full-time male employees in the financial and insurance activities sector in the United Kingdom (UK). The number of full-time female employees, on the other hand, was much lower, at 424,000. In terms of part-time employment, there were significantly more female employees in the sector than males. In 2024, a total of 122,000 people worked part-time, and only 16,000 were male.

The share of women on boards in the financial services industry in the United Kingdom (UK) showed a slight increase between 2018 and 2023. In 2018, 22.9 percent of the directors in financial services were female, which was below the average of 26 percent among European countries. By 2021, the share of women on boards increased to 33.3 percent, which rose to 37.2 percent by 2023.

Women's representation on U.S. financial services boards rose dramatically over the past decade, more than doubling from 11.6 percent in 2014 to 26.8 percent in 2023. The growth was steady: female board membership increased to 13 percent in 2016, reached 17 percent by 2018, and surpassed 23 percent in 2021. However, with women still occupying just over a quarter of board seats, the financial services sector remains far from achieving gender parity.

The share of women on boards in the financial services industry in Europe increased gradually between 2016 and 2023. In 2016, 23.5 percent of the directors were female. By 2018, the share of female directors increased to 26 percent. As of 2023, the share of women on boards in the financial services industry in Europe was 35.9 percent.

Financial overview and grant giving statistics of Michigan Women In Finance

In 2021, more than 42 percent of women in the Asia-Pacific region had savings at a financial institution. This marked an increase by around 10 percent compared to 2011.

In 2021, 21.1 percent of the C-suite roles in the financial services sector in the United States were filled by women. The share of women in C-suite roles is forecasted to increase to 28.1 percent by 2030. In terms of senior leadership roles, the share of female employees in 2021 was approximately 21 percent, and it is projected to grow to 21.8 percent by 2030. Among next generation employees, which include managers or equivalent titles below senior leadership, the share of women in 2021 was 32.4 percent, and it is forecasted to grow to 35.1 percent by 2030.

In 2023, the share of female employees in the total workforce of most leading U.S. banks exceeded 50 percent. Among the observed banks, Truist and PNC Financial Services had the highest share of female employees in terms of the total workforce, at 62.7 and 59 percent, respectively. The lowest share of female employees was seen at Capital One and Goldman Sachs, where the share of women was less than 50 percent.Gender diversity: total workforce vs. senior management The relatively high share of female employees in the total workforce of leading U.S. banks may show gender diversity in a good light, but the devil is in the details. The share of female executives and senior level officials and managers in the largest U.S. banks was significantly lower in 2023. The relatively low share of female executives and senior managers in banks is not unique. In numerous other industries, the share of women employed on executive and senior levels tends to be lower than the share of women in the total workforce. Global gender gap index There has been a gradually increasing focus on gender equality in recent years. The global gender gap index was first introduced by the World Economic Forum in 2006 to measure the gender-based gaps among four key dimensions (economic participation and opportunity, educational attainment, health and survival, and political empowerment), and to track the progress of closing these gaps. Based on the four dimensions, the index scores each country between zero and one. In 2023, Europe held seven spots in the top ten, while the United States ranked 43rd.

In the past 50 years women's legal status has improved all over the world. But many laws still make it difficult for women to fully participate in economic life whether by getting jobs or starting businesses. Discriminatory rules bar women from certain jobs, restrict access to capital for women-owned firms and limit women's capacity to make legal decisions. Gender differences in laws affect both developing and developed economies, and women in all regions. Women, business, and the law measures restrictions on women s employment and entrepreneurship as well as incentives for women s employment in 143 economies. Women, business, and the law and the World Bank's global financial inclusion global findings database show that in economies with a default full community of property regime, there are on average 10 percentage points more female owned accounts at formal financial institutions than in economies with a default separation of property regime. This report has shown that although much progress has been made in recent decades in gradually dismantling many of the legal restrictions which have hampered women from more fully contributing to national prosperity, there is a large unfinished agenda of reform. Gender equality is important not only for fairness and equity, but also for economic efficiency and is at the center of creating a more prosperous world.

Citation
“World Bank; International Finance Corporation. 2013. Women, Business, and the Law 2014 : Removing Restrictions to Enhance Gender Equality. London: Bloomsbury. © World Bank. https://openknowledge.worldbank.org/handle/10986/20528 License: CC BY-NC-ND 3.0 IGO.”

URI
http://hdl.handle.net/10986/20528

This is a source dataset for a Let's Get Healthy California indicator at https://letsgethealthy.ca.gov/. This table displays the percentage of women ages 18-44 who have received preventative services. It contains data for California only. The data are from the California Behavioral Risk Factor Surveillance Survey (BRFSS). The California BRFSS is an annual cross-sectional health-related telephone survey that collects data about California residents regarding their health-related risk behaviors, chronic health conditions, and use of preventive services. The BRFSS is conducted by the Public Health Survey Research Program of California State University, Sacramento under contract from CDPH. The column percentages are weighted to the 2010 California Department of Finance (DOF) population statistics. Population estimates were obtained from the CA DOF for age, race/ethnicity, and sex. Values may therefore differ from what has been published in the national BRFSS data tables by the Centers for Disease Control and Prevention (CDC) or other federal agencies.

Financial overview and grant giving statistics of Women In Insurance & Financial Services Inc Group Exemption

The share of white women and women of color in the financial services industry in North America in 2021 varied across corporate roles. In entry level positions, the share of female employees was around 50 percent, but the higher levels of corporate roles were dominated by men. 27 percent of the senior managers were white women, and approximately ten percent of the senior managers were women of color. On the C-suite level, less than 25 percent of the employees were white female, and the share of women of color was four percent.

Average percentage of women and men in management positions, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and majority ownership, first quarter of 2024.

This paper analyzes the influence of female participation on the performance and financial risk considering a sample of 218 public companies traded on B3 (Bovespa) from 2010 a 2016. The study also analyzes the influence of female participation on family control companies. Using a random effects methodology and family control dummy and percentage of female presence in boards of director, the study sought to analyze how theses variables and their interactions affect the financial performance of companies. Although the female representation has grown more than 50% in recent years, this share, however, in the board of directors of Brazilian companies is still a minority, close to 9% of the total surveyed. The ownership structure in the family firms is very relevant, with the percentage of 63%. The results suggest a positive relation between female participation and the Tobin-Q, used by value’s proxy, however, this relationship is weaker for firms with a family control. Another result found is that volatility, taken here as a risk’s proxy, is reduced in family run-business.

Abstract

Financial inclusion is critical in reducing poverty and achieving inclusive economic growth. When people can participate in the financial system, they are better able to start and expand businesses, invest in their children’s education, and absorb financial shocks. Yet prior to 2011, little was known about the extent of financial inclusion and the degree to which such groups as the poor, women, and rural residents were excluded from formal financial systems.

By collecting detailed indicators about how adults around the world manage their day-to-day finances, the Global Findex allows policy makers, researchers, businesses, and development practitioners to track how the use of financial services has changed over time. The database can also be used to identify gaps in access to the formal financial system and design policies to expand financial inclusion.

Geographic coverage

National coverage

Analysis unit

Individuals

Universe

The target population is the civilian, non-institutionalized population 15 years and above.

Kind of data

Observation data/ratings [obs]

Sampling procedure

The indicators in the 2017 Global Findex database are drawn from survey data covering almost 150,000 people in 144 economies-representing more than 97 percent of the world's population (see Table A.1 of the Global Findex Database 2017 Report for a list of the economies included). The survey was carried out over the 2017 calendar year by Gallup, Inc., as part of its Gallup World Poll, which since 2005 has annually conducted surveys of approximately 1,000 people in each of more than 160 economies and in over 150 languages, using randomly selected, nationally representative samples. The target population is the entire civilian, noninstitutionalized population age 15 and above. Interview procedure Surveys are conducted face to face in economies where telephone coverage represents less than 80 percent of the population or where this is the customary methodology. In most economies the fieldwork is completed in two to four weeks.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used.

Respondents are randomly selected within the selected households. Each eligible household member is listed and the handheld survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer's gender.

In economies where telephone interviewing is employed, random digit dialing or a nationally representative list of phone numbers is used. In most economies where cell phone penetration is high, a dual sampling frame is used. Random selection of respondents is achieved by using either the latest birthday or household enumeration method. At least three attempts are made to reach a person in each household, spread over different days and times of day.

The sample size was 1600.

Mode of data collection

Computer Assisted Personal Interview [capi]

Research instrument

The questionnaire was designed by the World Bank, in conjunction with a Technical Advisory Board composed of leading academics, practitioners, and policy makers in the field of financial inclusion. The Bill and Melinda Gates Foundation and Gallup Inc. also provided valuable input. The questionnaire was piloted in multiple countries, using focus groups, cognitive interviews, and field testing. The questionnaire is available in more than 140 languages upon request.

Questions on cash on delivery, saving using an informal savings club or person outside the family, domestic remittances, and agricultural payments are only asked in developing economies and few other selected countries. The question on mobile money accounts was only asked in economies that were part of the Mobile Money for the Unbanked (MMU) database of the GSMA at the time the interviews were being held.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar, and Jake Hess. 2018. The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank

Abstract

The fourth edition of the Global Findex offers a lens into how people accessed and used financial services during the COVID-19 pandemic, when mobility restrictions and health policies drove increased demand for digital services of all kinds.

The Global Findex is the world's most comprehensive database on financial inclusion. It is also the only global demand-side data source allowing for global and regional cross-country analysis to provide a rigorous and multidimensional picture of how adults save, borrow, make payments, and manage financial risks. Global Findex 2021 data were collected from national representative surveys of about 128,000 adults in more than 120 economies. The latest edition follows the 2011, 2014, and 2017 editions, and it includes a number of new series measuring financial health and resilience and contains more granular data on digital payment adoption, including merchant and government payments.

The Global Findex is an indispensable resource for financial service practitioners, policy makers, researchers, and development professionals.

Geographic coverage

National coverage

Analysis unit

Individual

Kind of data

Observation data/ratings [obs]

Sampling procedure

In most developing economies, Global Findex data have traditionally been collected through face-to-face interviews. Surveys are conducted face-to-face in economies where telephone coverage represents less than 80 percent of the population or where in-person surveying is the customary methodology. However, because of ongoing COVID-19 related mobility restrictions, face-to-face interviewing was not possible in some of these economies in 2021. Phone-based surveys were therefore conducted in 67 economies that had been surveyed face-to-face in 2017. These 67 economies were selected for inclusion based on population size, phone penetration rate, COVID-19 infection rates, and the feasibility of executing phone-based methods where Gallup would otherwise conduct face-to-face data collection, while complying with all government-issued guidance throughout the interviewing process. Gallup takes both mobile phone and landline ownership into consideration. According to Gallup World Poll 2019 data, when face-to-face surveys were last carried out in these economies, at least 80 percent of adults in almost all of them reported mobile phone ownership. All samples are probability-based and nationally representative of the resident adult population. Phone surveys were not a viable option in 17 economies that had been part of previous Global Findex surveys, however, because of low mobile phone ownership and surveying restrictions. Data for these economies will be collected in 2022 and released in 2023.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used. Respondents are randomly selected within the selected households. Each eligible household member is listed, and the hand-held survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer's gender.

In traditionally phone-based economies, respondent selection follows the same procedure as in previous years, using random digit dialing or a nationally representative list of phone numbers. In most economies where mobile phone and landline penetration is high, a dual sampling frame is used.

The same respondent selection procedure is applied to the new phone-based economies. Dual frame (landline and mobile phone) random digital dialing is used where landline presence and use are 20 percent or higher based on historical Gallup estimates. Mobile phone random digital dialing is used in economies with limited to no landline presence (less than 20 percent).

For landline respondents in economies where mobile phone or landline penetration is 80 percent or higher, random selection of respondents is achieved by using either the latest birthday or household enumeration method. For mobile phone respondents in these economies or in economies where mobile phone or landline penetration is less than 80 percent, no further selection is performed. At least three attempts are made to reach a person in each household, spread over different days and times of day.

Sample size for Togo is 1000.

Mode of data collection

Face-to-face [f2f]

Research instrument

Questionnaires are available on the website.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar. 2022. The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. Washington, DC: World Bank.

The share of women on boards in the financial services industry in Denmark increased slightly between 2018 and 2023. In 2018, 31.5 percent of the directors in financial services companies were female. By 2021, the share of women on boards increased to 32.6 percent. As of 2023, Denmark ranked third among European countries in terms of gender diversity on boards of directors, with 42.9 percent of the board seats held by women.

Abstract

Financial inclusion is critical in reducing poverty and achieving inclusive economic growth. When people can participate in the financial system, they are better able to start and expand businesses, invest in their children’s education, and absorb financial shocks. Yet prior to 2011, little was known about the extent of financial inclusion and the degree to which such groups as the poor, women, and rural residents were excluded from formal financial systems.

By collecting detailed indicators about how adults around the world manage their day-to-day finances, the Global Findex allows policy makers, researchers, businesses, and development practitioners to track how the use of financial services has changed over time. The database can also be used to identify gaps in access to the formal financial system and design policies to expand financial inclusion.

Geographic coverage

Sample includes any respondent in a fixed household able to participate in the survey in Arabic. This resulted in a higher percentage of self-reported non-Jordanians in the 2017 sample (12%, compared with less than 5% in previous waves).

Analysis unit

Individuals

Universe

The target population is the civilian, non-institutionalized population 15 years and above.

Kind of data

Observation data/ratings [obs]

Sampling procedure

The indicators in the 2017 Global Findex database are drawn from survey data covering almost 150,000 people in 144 economies-representing more than 97 percent of the world’s population (see table A.1 of the Global Findex Database 2017 Report for a list of the economies included). The survey was carried out over the 2017 calendar year by Gallup, Inc., as part of its Gallup World Poll, which since 2005 has annually conducted surveys of approximately 1,000 people in each of more than 160 economies and in over 150 languages, using randomly selected, nationally representative samples. The target population is the entire civilian, noninstitutionalized population age 15 and above. Interview procedure Surveys are conducted face to face in economies where telephone coverage represents less than 80 percent of the population or where this is the customary methodology. In most economies the fieldwork is completed in two to four weeks.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used.

Respondents are randomly selected within the selected households. Each eligible household member is listed and the handheld survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer’s gender.

In economies where telephone interviewing is employed, random digit dialing or a nationally representative list of phone numbers is used. In most economies where cell phone penetration is high, a dual sampling frame is used. Random selection of respondents is achieved by using either the latest birthday or household enumeration method. At least three attempts are made to reach a person in each household, spread over different days and times of day.

The sample size was 1012.

Mode of data collection

Computer Assisted Personal Interview [capi]

Research instrument

The questionnaire was designed by the World Bank, in conjunction with a Technical Advisory Board composed of leading academics, practitioners, and policy makers in the field of financial inclusion. The Bill and Melinda Gates Foundation and Gallup Inc. also provided valuable input. The questionnaire was piloted in multiple countries, using focus groups, cognitive interviews, and field testing. The questionnaire is available in more than 140 languages upon request.

Questions on cash on delivery, saving using an informal savings club or person outside the family, domestic remittances, and agricultural payments are only asked in developing economies and few other selected countries. The question on mobile money accounts was only asked in economies that were part of the Mobile Money for the Unbanked (MMU) database of the GSMA at the time the interviews were being held.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar, and Jake Hess. 2018. The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank

United States US: Account at a Financial Institution: Female: % Aged 15+ data was reported at 94.798 % in 2014. This records an increase from the previous number of 84.069 % for 2011. United States US: Account at a Financial Institution: Female: % Aged 15+ data is updated yearly, averaging 89.433 % from Dec 2011 (Median) to 2014, with 2 observations. The data reached an all-time high of 94.798 % in 2014 and a record low of 84.069 % in 2011. United States US: Account at a Financial Institution: Female: % Aged 15+ data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Banking Indicators. Account at a financial institution denotes the percentage of respondents who report having an account (by themselves or together with someone else) at a bank or another type of financial institution.; ; Demirguc-Kunt et al., 2015, Global Financial Inclusion Database, World Bank.; Weighted average;