The backbone of Treasury Today’s ground-breaking Women in Treasury initiative is the annual Study that we conduct among female treasury professionals across the globe. This year’s Study, proudly supported by RBS, builds a clear picture of the careers of women across the industry.

Conducted between April and September 2014, the Study attracted over 220 responses from a broad universe of respondents. From a geographical perspective, 22% of respondents were located in the Asia-Pacific region, 14% in the Americas, and 62% in Europe, with the remainder being Rest of World. Respondents were aged between 25 and 65 years; 57% have been working in corporate treasury for over 10 years and 76% are professionally qualified.

Highlights

One of the most contentious areas of the Study was, unsurprisingly, pay equality. This year’s findings reveal that 48% felt they were being paid the same as their male counterparts, 48% felt they were being paid less, and 4% felt they were being paid more. This is an improvement on the 2013 results, which indicated that 58% believed they were not being paid the same as their male colleagues.

An aspect of corporate life where there is still a great deal of room for improvement (not just for women but for men too) is around mentoring. Despite an enormous 98% believing that mentoring is beneficial in career advancement, only 37% of companies provide a mentoring programme. The number of companies that still do not allow flexible working arrangement is also high – at 44%. So it is clear that corporate attitudes to modern life and the needs of their employees still have some way to progress.

Nevertheless, the level of support that mothers returning to work from maternity leave are receiving from their employers appears to be positive, with three-quarters of respondents saying that the company they work for is proactive in this regard. Interestingly, despite just over half of respondents (53%) having dependent children, 77% said they were prepared to move to a new region or country in order to progress their career.

When we asked respondents in more detail about their career aspirations, the majority were ultimately aiming for the role of Group Treasurer, with Director Treasury & Finance in second place, and CFO third. One of the more surprising findings of this year’s Study was that when asked to rank certain factors in order of importance to their career enhancement, job satisfaction was voted the number one most important factor – above a clear career path in treasury; above being treated equally; and above being accepted by senior management. This begs the question: if women were treated equally; had a clear career path; and were accepted by senior management; would that actually lead to increased job satisfaction?

Moving ahead

As we build on the Women in Treasury Study each year, we will continue to analyse the questions and challenges that the females in our profession face every day. We will also strive to share best practice and knowledge among the treasury community. To that end, we would like to thank everyone involved in this year’s Study – we could not have done it without you.

We’d also like to encourage you to join our Women in Treasury LinkedIn Group where you can carry on the discussion, contribute your insights and benefit from an amazing networking opportunity. Simply contact our Circulation Manager, Sarah Arter to join and be part of our successful programme.

Carole Berndt

Global Head Transaction Services

Speaking on behalf of RBS, an organisation committed to promoting diversity within the workplace, I believe supporting the Treasury Today Women in Treasury initiative is a natural extension of how seriously we take our responsibility to build understanding and encourage discussion around this important topic. But as a woman working in a male-dominated industry, I also know how absolutely vital it is to share the experiences, the challenges, the successes and the failures, so that we may speak as one within in our chosen profession.

In the course of my career in treasury I have met many incredible women, all of whom have been innovative, determined and ready to help others achieve success in their chosen field. The 2014 Women in Treasury Study gives voice to these inspirational people. But more importantly, it delivers a clear picture of the careers of all women across the industry, from the most senior to the most junior, allowing everyone to have their say.

The 2014 Women in Treasury Study is a valuable contribution to the discussion and promotion of the issues that really matter to women in the workplace. We all have responsibilities to our organisations, but we also have responsibilities to ourselves and to our families too. Hearing how other women in treasury tackle the core issues of work-life balance, career progression, mentoring and pay parity, all the while maintaining a sense of personal identity gives a focus to the voice of women in treasury. As sponsor and as a woman I am proud to be a part of it.