By Inessa Ruffman, JonesTrading
2024 WIF Chair
Today, we celebrate Women’s Equality Day, which commemorates the adoption of the 19th Amendment. Ratified in 1920, this important reform prohibits the denial of voting rights on the basis of gender, representing a crucial milestone in the feminist movement. Since then, we have made more strides toward gender equality.
Yet even with this important progress, women still face many professional obstacles, some of which stem from structural inequalities in the workplace and beyond. The gender pay gap persists across many industries – in 2024, women earn just 84 cents to every dollar earned by a man. In addition, despite increased awareness of the issue, workplace harassment still occurs, and gender bias can affect hiring decisions and performance evaluations.
While women have a stronger presence in the C-suite and on corporate boards than ever before, they’re still underrepresented in senior leadership roles compared to their male counterparts. Women make up 42% of the global workforce, but only 31.7% of senior leaders at the top levels of government and business. Then there is the challenge of balancing work with responsibilities at home, which often fall more on women. In fact, 75% of women agree with or are unsure about the perception that women with children are seen as less dedicated and competent compared to their male colleagues. As long as these issues continue to impact women’s careers, there will be more work to do.
Celebrating Women’s Equality Day is all the more fitting given that this is an election year. Millions of women across the country will exercise their hard-earned right to vote in November. It will serve as a fitting symbol of how far we’ve come while also representing the reality that we must take action to ensure continued progress.
In the meantime, STA Women in Finance will carry forward the spirit of Women’s Equality Day as we continue to advocate for women in the financial services industry through mentorship, education and networking opportunities. Together, we can harness our collective strength to break barriers and build a more equitable future where every woman can thrive professionally.
Read the full newsletter here.