News

Czech finance is dominated by women

The Czech financial sector is dominated by women and increasingly so by the ones who are young and educated. Nonetheless, the new IDEA Policy Study by Klára Kalíšková indicates that the share of women is in fact decreasing over the last 20 years. See below for a short summary.

• The number of workers in the Czech financial sector has more than doubled over the last 20 years. Increased employment in the financial advisory field was the main driving factor behind this trend, while employment in banking and insurance institutions stagnated.
• The financial sector is largely dominated by women, although their share in total employment has decreased since the mid- 1990s.
• The structure of employment within the financial sector has changed greatly in favour of young women (aged 25-34) with tertiary education. This is related to the rapidly growing number of graduates in economically oriented disciplines over the last decade.
• The financial sector is attractive to young educated women thanks, most probably, to the higher salaries and greater opportunities for promotion to senior positions, compared with other sectors. Although this has led to an increasing proportion of women in more senior positions, female representation in leadership positions remains low.
• The average wage in the financial sector is more than twice the average wage in the national economy. To some extent, this is due to an above-average level of education in this sector.

The summary can be downloaded here.