Blog Entries by Luke Dean, Financial Planning Director, Utah Valley University

Women still underrepresented in Financial Planning, but they're at the top of the class!



The financial planning profession is a really wonderful profession with some very wonderful people.  If you went into a mad scientist lab to create the perfect profession, you'd come up with everything that makes financial planning great:
  • Flexibility
  • Positive impact on people and society
  • High income
  • Autonomy
  • Mentally stimulating/challenging from start to finish of your career
  • Relationships
One problem is that women (who are naturally very well-suited to succeed in this profession) are not finding their way into this profession for a variety of reasons.  Women make up only approximately 23% of the financial planning profession.  We just recently counted the # of declared Financial Planning majors in our Woodbury School of Business at UVU and discovered that we're not much better than the profession.  Only 65 of our 237 Financial Planning majors (27.4%) are female.  But when we sorted the majors by GPA, we noticed a really interesting (and not surprising) trend...   Despite being underrepresented in the major and the profession, WOMEN ARE WAY OVERREPRESENTED AT THE TOP OF THE CLASS!
  • 5 of the top 6 students are female
  • 7 of the top 10 students are female
  • 10 of the top 14 students are female
  • 15 of the top 25 students are female
We noticed this trend at our Financial Planning banquet last March when 3 out of the 4 student awards we gave out were won by female students.  We knew that our female students were really dynamite, but we hadn't really quantified it until now.   I'd also like to say that our female students have been great at recruiting other women into the major.  And they have been the benefactors of some very generous mentors and scholarship donors.  More headway needs to be made on the diversity front in this profession, but it appears that we're finally making tracks with getting women into the profession. 

While we're still lacking female quantity, we are definitely not lacking quality!

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