It’s a great time to be a woman in the financial services industry, as long as you choose your employer carefully. Why? Because women prove underrepresented in this industry. Women control a lot of the country’s wealth but not so many jobs in financial services. Thanks to top employers, that’s changing. The best companies for women in finance recognize that female employees provide the perspectives that will help their companies better serve their diverse clients, so they’re eager to recruit top quality women candidates.
These 10 Best Companies for Women in Finance, as part of our year-long look at the 100 Best Arizona Companies, are our recommendations for launching or growing a purposeful, exciting career, where you can truly make a difference: American Express, Charles Schwab, Edward Jones, Homeowners Financial Group, Longboard Asset Management, JP Morgan Chase, National Bank of Arizona, PayPal, USAA, and Vanguard. Get to know four of them below.
Best Companies For Women In Finance
As a leader in financial services innovation, Charles Schwab is a premier employer for women with a mission to help others with their financial success. A culture of caring and inclusion supports women at a “big company with a small business feel.”
Schwab recognizes that as more women earn advanced degrees and higher salaries, it results in greater purchasing power and a different approach to their financial futures. Many women also find themselves as sole decision makers due to the passing of a spouse, often thrust unexpectedly into very unfamiliar situations with varying degrees of experience and knowledge. It’s why the company believes it’s critical that female employees get involved. This means greater opportunities for women to actively develop their careers and help reach out to those women who need assistance, support, and guidance.
Supporting the female Schwabbies is Women’s Interactive Network at Schwab (WINS). WINS is an employee resource group dedicated to helping women employees advance their careers, demonstrate their leadership capabilities, and help other women become more financially literate.
WINS involves four primary goals or principles.
- Recruiting more women into the financial services industry, starting with young students, by introducing them to Schwab’s mission, vision and culture
- Empowering employees to take ownership of their career development. Through programs like Career Path Chats and Executive Chat, providing guidance and inspiration
- Develop business opportunities to promote financial capability among women, including Financial Life Planning Month for Women
- Building relationships to support women in the community, by partnering with nonprofits.
Schwab’s commitment to being one of the best companies for women in finance was recently recognized by azcentral.com Top Companies to Work for in Arizona, honoring Schwab for their Exemplary Women’s Initiatives.
A commitment to match the makeup of their network of financial advisors to that of their clients is what drives Edward Jones’ dedication to hiring and empowering women. The firm is proud to help women succeed, and also offers the flexibility to create individual career paths.
New Financial Advisors are paired with an Early Success Coach, who spends one-on-one time helping build a foundation for success. Relationship building, maintaining balance, and client strategies are all areas for coaching.
On a continual basis, through WHOW (Women Helping Other Women) meetings, women learn business tactics and best practices from each other. WHOW meetings bring women from a region together to network as well as share business-building ideas. At these events, women learn from presentations and panel discussions with successful female Financial Advisors, home office associates and other business professionals. Women’s networking lunches connect female Financial Advisors from across the country who are at the same point in their careers. Coaching continues past early success, with veteran women financial advisors helping others learn more about how they built their practices.
Women represent 19% of our Edward Jones’ financial advisor base, relative to just 14% of financial advisors in the industry,” said Katherine Mauzy, Principal of Financial Advisor Talent Acquisition. “To increase that number, we are bridging the confidence gap by offering the right programs to build, encourage and provide unique networking opportunities both at Edward Jones and within the industry.”
With a long-term commitment to hiring, advancing, and supporting women within the company, JPMorgan Chase strives to give employees a work-life balance.
Parental leave includes a generous 16 paid weeks for primary caregivers, and nonprimary caregivers are eligible for two weeks off. Adoptions are included. As the firm continues to focus on its parent population, a new program was developed to help employees who are returning from parental leave connect with employee “mentors” who can help them learn about the benefits and support available to working parents.
In addition, through the firm’s ReEntry program, individuals who have taken a voluntary career break for personal reasons, including to take care of family members, may apply when they wish to return to the workforce full time – even after a decade. The 14-week program offers a reintroduction to corporate life, allowing program fellows to update their skills and re-engage their careers.
Vanguard’s unique culture drives the organization to be a great place to work for women, cultivating an environment of inclusion. Vanguard values and recognizes each individual for who they are as well as their unique contributions. This results in a highly engaged team of “crew members,” which is how the company refers to employees.
Both hiring and developing women are important at Vanguard. With a strong emphasis on learning throughout the company, as evidenced by becoming the top winner in Chief Learning Officer’s Learning Elite list for 2016, women gain needed skills to advance while expressing their own individual perspectives and abilities. Vanguard believes that these unique perspectives have the potential to strengthen decision making, ultimately advancing the best interests of clients.
One way Vanguard supports women is through the Women’s Initiative for Leadership Success (WILS). It’s a Crew Resource Group (CRG) that works to increase the representation of women in leadership positions company-wide by creating a culture that develops, supports, and also encourages women’s leadership abilities. WILS allows both female and male crew members to come together and focus on trust, respect, and fairness. CRGs help crew members across the organization form meaningful relationships through service, teamwork, and education. Thought-provoking learning experiences help women to connect to a robust professional network and a variety of ways to develop personally and professionally.
Cici Lew, HNW Client Manager, says Vanguard’s CRGs “create a network for when you’re exploring the next step in your career, to overviews, as well as advocacy. My leader was a strong advocate on my behalf when I recently applied for my current role.”
Are you a woman who wants to be in charge of your career as well as your finances?
Arizona’s Best Companies for Women in Finance can help you do both. So take a look at what they have to offer: American Express, Charles Schwab, Edward Jones, Homeowners Financial Group, Longboard Asset Management, JP Morgan Chase, National Bank of Arizona, PayPal, USAA, and Vanguard. You may just land at a top employer, making a difference and growing both professionally and personally!