While barriers still prevent many qualified women from achieving senior positions in finance, data shows that the representation of women is gradually improving.
Ireland’s finance sector is booming, despite the many political and social issues that have impacted the world over the course of the last few years. From Brexit and the pandemic, to increased political instability and mass layoffs in relevant fields, for example the tech layoffs, Ireland’s finance ecosystem is showing signs of resilience and progress.
According to the Economic and Social Research Institute (ESRI), which just published the 2025 Ireland’s Women in Finance Charter report, another sign of progress in the evolving financial services space is the inclusion of more women in senior positions.
Compiled by the ESRI in collaboration with Banking and Payments Federation Ireland, Financial Services Ireland, Insurance Ireland and Irish Funds, the report is part of the Women in Finance Charter, an industry initiative supported by the Government under the Ireland for Finance Strategy. It aims to improve the representation of women at all levels in Ireland’s financial services firms.
The Charter includes 100 signatory firms, which collectively employ more than 72,000, representing more than half all employees in the financial services sector in Ireland.
Data for the report was gathered from 94 of the Charter-affiliated organisations that completed their annual reporting.
The report notes that the participation of women in senior financial services roles has increased substantially in the last three years. Three years ago, 30pc of board level figures were women, with that figure now at 36pc.
In senior management, women hold 43pc of roles, up from 36pc three years ago, while 22pc of CEOs in participating companies are women, which is up from the 19pc.
All of that is to say that, gradually, there is an obvious improvement in the representation of women across all levels of the finance sector and perhaps most importantly it shows an effort to put women in the rooms where the important conversations are taking place.
According to the report authors, ESRI research assistant Eva Slevin and research professor at ESRI and adjunct professor at Trinity College Dublin, Helen Russell, the progress made by contributing companies has the potential to greatly influence the opportunities and career outcomes for women in the Irish financial sector.
Particularly as signatory organisations are required to commit to setting at least one positive target that addresses the ongoing gender imbalance evident in their own ecosystems. So, what are the barriers holding back women in the finance industry?
Career restraints
While this report shows positive movement for women in finance, it is important to note that women are still far away from parity in the sector with more work to be done.
As the report notes, structural barriers often derail women as they attempt to forge a stronger professional identity. For example gender norms that identify men as more equipped for leadership, a lack of support for women who are disproportionately affected by care duties and discrimination, among others can contribute to inequalities in career advancement.
Many of the organisations involved cited low turnover, limited female applicants and a lack of necessary skills as barriers to achieving gender targets, however, the report suggests that many of these problems feed into one another and could potentially be resolved by improved organisational and governmental support and oversight.
“While low turnover is difficult to remedy and is positive in terms of retention, low numbers of female applicants is a challenge that could be addressed through external government policies that, for example, improve educational opportunities, or internal policies that address potential barriers for female applicants.
“This is reflected in the qualitative interviews, where firms emphasised the need for flexibility in roles, or improved STEM opportunities for young women,” the report notes.
“This year’s report demonstrates the continued progress in growing female participation in the financial services sector in Ireland,” Russell said.
“While there is still work to be done, the targets set out by signatory firms demonstrate ambition and have the potential to encourage organisations in the wider economy to promote increased female participation in their sectors.
“Both organisational and government policies are needed to address gender inequalities. At the firm level, actions to support internal advancement of women to more senior roles were seen as highly effective, these included strategies such as mentoring, leadership training and succession planning.”
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