Three Tips for Aspiring Female Finance Professionals

By Cathy Purdy

2022 is shaping up to be an empowering year for female professionals. The news of the equal pay settlement for the USA women’s soccer team has renewed hope for equality in the sports world. Hybrid work flexibilities have allowed working mothers to better straddle the line between career and family. And according to a new global study by the executive search firm Heidrick & Struggle, the number of women CEOs doubled in the first half of 2021, with 13% of all appointed CEOs being women, up from 6% in the previous six months.

These positive steps forward are certainly inspiring. But as a 32-year veteran of the male-dominated banking industry, I know that there is still much work to be done. Aspiring female finance professionals have access to more resources today than I could’ve imagined when I began my career—but they aren’t always utilized, and they don’t always lead to upper-level promotions. In other words, there are lots of opportunities for women in the banking and finance industries, but we’ve got to know how to seize them.

Here are three tips for creating your own success as a female professional in banking:

Take Advantage of the Industry’s Strengths.
Banking is one of the few remaining industries in which you can make a professional career without a college degree. This is especially beneficial for women who might have chosen to start families at a young age, or for some other reason could not attend college. Banking is an accessible industry that does not discriminate based on education—several of my female colleagues began their careers as tellers, and gradually worked their way up into management roles. Additionally, community banks like Tompkins often offer educational stipends or reimbursements to supplement the cost of a degree, should an employee want to pursue their education. Opportunities for advancement in banking come from experience, hard work, and ambition—all of which can be fostered with or without that pesky piece of paper.

Look for Mentors.
To find the best possible mentor, look for the people who emulate your idea of success. These days, it’s getting easier to find female professionals in upper-level roles that you can learn from, especially in community banks. In fact, eleven out of twelve Tompkins branch managers in the Hudson Valley are women, as well as all assistant branch managers. This culture of promoting women has permeated even the most male-dominated branch of the banking field: two female lending officers were also hired in the last year.

It’s exciting to witness so many deserving female professionals achieve they roles they’ve aspired to—and mentors play a large role in seeing that through. If it weren’t for my female mentors, it would have been difficult to imagine myself growing in a male-dominated environment. Perhaps most importantly, good mentorship creates a safe space to ask for advice, raise issues, and question the inner workings of the organization. Mentors should make you feel like you belong, and when you see yourself as an important part of the larger organization, the possibility for promotion to leadership roles suddenly feels a lot more reachable.

Know Your Worth.
It’s no secret that women have not always been valued in the workplace, and though that narrative is changing for the better, it’s important to keep the momentum going by being our own biggest advocate. No matter your age, experience level or job title, it is critical to not only know your own worth, but believe in it. In a 2019 report from LinkedIn, women are still more hesitant than men when it comes to applying for jobs: research shows that most women feel they need to be 100% qualified before they apply for a position, whereas most men apply if they feel at least 60% qualified. In other words, we are taking ourselves out of the game before it begins. Instead of hedging your bets on how you think your qualifications will be judged, put yourself out there. Ask questions. Make connections. Let your passion show. These things will get us much further than a simple checked box on a resume, if we have the courage to try.

Cathy Purdy is the branch manager at Tompkins’ Brewster branch in Brewster, NY. She has 32 years of banking experience, including 21 years at Tompkins.