Gender Inequality in the Financial Sector in Portugal

Abstract

Despite the positive developments that have taken place over the last century, women are still under-represented in certain sectors of activity and in management positions that have traditionally been more male dominated. In recent years, some of the literature has sought to understand the reasons for this imbalance, including factors such as the lack of role models, gender stereotypes, lack of confidence and the work-life balance. Gender equality has been recognised as relevant and capable of contributing to value creation, even in areas where there has historically been a higher degree of masculinisation. The same applies to the financial sector. Indeed, access to finance is recognised as one of the main barriers to entrepreneurship, particularly for women. The low participation of women in the financial sector is also recognised as exacerbating the difficulties that women entrepreneurs face in accessing finance. With the main objective of understanding the extent to which gender inequality exists in the financial sector in Portugal, this research aims to examine the motivations for entering the financial sector, the perceived benefits of working within it, the main constraints and the career potential. It also aims to investigate the extent to which these perceptions are influenced by gender. The methodology used in the study is quantitative. Primary data was collected through a questionnaire specifically targeted at professionals working in the financial sector in Portugal. The study suggests that the financial sector is characterised by a predominance of the male gender, both in technical functions and in managerial positions. The results also show some differences in the way men and women perceive employment in the sector. When analysing the motivations for entering the profession, it can be seen that women value the impact that the sector can have on society, even if they consider the conditions offered at the time of entry to be inferior. The female gender values the constraints associated with working in the profession more than the male gender, while the opposite is observed with regard to the perceived opportunities for career progression.