Published on: March 2, 2023
B2B Marketing Specialist
The gender gap in tech has been a topic of discussion for many years and has recently gained significant attention. An industry that women once hugely influenced is now dominated by men. Today, women in tech have a long way to go to achieve equal representation.
The gender gap in tech is a widely debated topic that has significantly impacted the industry. Currently, men are at the forefront of the sector that, historically, was women-mastered.
Ada Lovelace, widely recognized as the world's first computer programmer, worked with Charles Babbage on his Analytical Engine in the mid-1800s. Another pioneering tech woman, Grace Hopper, helped develop the first software program to translate code from human-readable to machine language.
Women also played an essential role in breaking codes and working on computing machines during World War II. Going back to the 1960s and 1970s, they were actively recruited to fill computer programming roles, making up more than 60% of all programmers by 1967 - computer programming was often considered a "women's profession." However, in the 1980s and 1990s, the industry shifted and became more male-dominated, leading to a significant decrease in women's representation in tech.
Today, the problem of women being underrepresented, undervalued, and excluded from roles in the tech industry has impacted society and businesses. Research has shown that diverse workforces are more innovative and profitable than those without diversity. Regardless of the benefits of diversity, women in tech continue to face significant challenges.
According to a McKinsey study, companies with higher gender diversity on their executive are more likely to achieve profitability above the industry average. [1]
Unconscious bias is a prevalent issue when hiring women for tech roles. This bias comes from assuming male candidates are more qualified than females even if they have equal qualifications—or believing that inclining their decision toward a woman will have risky consequences, for instance, personal and work-life balance issues.
According to the National Center for Women & Information Technology report, women currently comprise only 26% of the computing workforce and hold just 5% of leadership positions. [2]
Another challenge is typically related to the absence of representation and equal wages. Females' roles earn less than their male counterparts. Moreover, it is well-known that they face obstacles regarding promotions. Even though women make up 48% of entry-level employees, by the time we get to the C-suite, women hold only 21% of those jobs. [2]
Research shows that tech companies offer women between 4% and 45% less starting pay for the same job. [3]
Despite these challenges, women continue contributing significantly to the industry, from designing user interfaces to developing cutting-edge algorithms. In the fintech field, we are witnessing a start of a new era where female-led companies are reshaping the industry - driven by innovation, creativity, and forward-thinking leadership styles.
One of the most notorious women influencing the fintech landscape is Ghela Boskovich. She is a fintech enthusiast and founder of FemTechGlobal, a social network that aims to challenge the status quo and promote inclusiveness and diversity in the financial services sector. [4]
Adina Eckstein is the COO of Lemonade, a digital insurance company built on social impact. She has a diverse background, from leading large-scale global digital transformation, project operations, and sales to developing businesses with prominent leadership roles in start-ups and established companies.
Another woman among leaders in the tech industry is Nathalie Siegl. She is the Co-Founder and CEO of Tarci, a Continuous Intelligence Engine connecting hundreds of data sources to create a unified company view. She has helped establish and grow new brands and ventures across various sectors for nearly 20 years. Nathalie holds an MBA from London Business School, a BSc in computer engineering, and a wealth of experience in marketing and project management. [4]
In the fintech industry, only 1.5% of global private fintech companies are founded solely by women, and a minority are working in the industry. [1]
Although there are ongoing initiatives to tackle these issues, additional efforts are needed to create a fintech industry that is more diverse and inclusive. In recent years, there has been a growing recognition of the value of diversity in tech and other industries. Today, many companies are actively working to promote more inclusive and diverse work environments.
There is still a long way to go to achieve gender uniformity in the industry. However, with more female-led startups entering the industry, the future of fintech looks bright and inclusive.
"At °neo by five°degrees, we strongly believe that a diverse mix of voices leads to better decisions and outcomes. One of our goals is to bridge the gender gap and increase women’s representation within our company. Diversity is critical in technology, just like any other industry. Having more women in tech means more creativity and unique ideas that lead to innovation and better companies’ performance".
Jeffrey Severijn CEO °neo by five°degrees
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