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Women Getting the Better of Finance

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The good news for you as a woman intent on pursuing a finance career is that you're likely to make more money than in a traditionally female career though not as much as your male counterparts. Yet finance as a career is an attractive option since there are relatively high compensation levels for women in the financial services industry in comparison to women-dominated industries such as nursing or administrative services.

But before stepping into finance career you need to ask yourself -- what motivates you? Knowing what motivates you will help to achieve your goals, both personal and professional. There is no question that money is a prime motivator but can you taking finance as a career create the sense of fulfillment and accomplishment you are seeking?

Widening Gap



No doubt a sharp pay gap exists between men and women in financial services as US General Accounting Office study in 2001 had found that women managers in finance, insurance and real estate earned 76 cents for every dollar as compared to their male counterparts.

Way To Success

Get yourself a certification or additional education, such as an MBA or CPA (Certified Public Accountant) designation or the much difficult Chartered Financial Analyst (CFA) designation granted by the Association for Investment Management and Research.

Despite the levels of experience matching those of men, women earned far less than men, according to the US GAO 2001 study. One factor may be the greater proportion of men in most senior and high-paying roles, such as chief executive officer and chief investment officer and greater concentration of men employed by securities firms, the study said.

Pay differentials however is not akin to gender bias. The differential is usually based on what the applicants were earning before. If there are two applicants with the same experience and one is currently earning up to $75,000 while the other $100,000, the applicant earning $75,000 is going to be offered less to do the same job as organizations necessarily don't place a price tag on a position.

Financial Planning

If you work in a commission-only job in finance, the pay gap may not affect you. But beware that a commission-only position without any base salary. Even experienced sellers confident they'd close enough business to earn plenty of money should beware.However employers prefer women in financial planning as they're raised to be more empathetic. The way forward is to know rules and follow them and look for people who can help you to reach the next step.

Good Judgments & Strategy

As women go higher up the ladder in management roles they tend to worry more about whether they're competent. It is not about getting it right but making good judgments, having vision, figuring out a strategy and leading a team.

Let Someone Take Care of the Laundry

You have to be well-organized to be efficient. Your spouse needs to look after the laundry work and pick up kids while you make dinner to leave a mark as a manager. Women who worked much longer hours than men are bound to cut the number of hours they put in at home and this could only if they have a cooperative spouse who understands her difficulties. The choice is yours: mother or manager.
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