Today, 8 March 2023, marks the 111th year of International Women's Day (IWD) – a day dedicated to celebrating women's achievements across the globe and highlighting the ongoing struggle for gender equality and women's rights.

The history of IWD dates back to the early 20th century when women in many parts of the world were fighting for suffrage, better working conditions, and other fundamental rights. The first observance of IWD was held on 28 February 1908 in New York City, where women marched through the city demanding these rights. The following year, Clara Zetkin, a communist activist and advocate for women's rights, proposed to a conference of Working Women in Copenhagen to establish an annual IWD to promote women's rights and peace.

Over the years, International Women's Day has been celebrated in various ways in different countries. It is a public holiday in some places, while in others, it is marked by rallies, marches, and other public events. The day is also an occasion to honour the achievements of women in various fields, such as politics, finance, science, business, sports, and the arts.

One of IWD's most significant achievements has been raising awareness of women's rights and the ongoing struggle for gender equality. The day has helped highlight the many challenges women face daily, including discrimination, violence, and unequal access to education, healthcare, and employment opportunities. IWD has also been an essential platform for women's activism and advocacy. Through rallies, marches, and other public events, women have been able to come together to voice their concerns, demand their rights, and push for change. The day has played a vital role in the global women's movement, inspiring and empowering women worldwide to take action and make their voices heard.

Women have made significant progress across many sectors in recent years, including in the finance sector, which is historically male-dominated. However, Capital Monitor analysis of UK government data in 2021 showed that:

  • Women working in finance occupied just 29% of the most lucrative jobs across the sector.
  • 58% of the lowest-paid jobs in finance were occupied by women.
  • Women earned 37% less in bonuses than men.  

 

The industry still has a long way to go, however, there is recognition that diversity is essential for the finance sector's success. A diverse workforce brings a range of perspectives, experiences and ideas that can help companies to innovate and grow. The Financial Conduct Authority launched new diversity targets with a comply or explain obligation in 2022, which aims to boost the disclosure of diversity. The targets include that at least 40% of the board should be women, and at least one of the senior board positions should be a woman.

Criterion is proud that 40% of our team are women, and we recognise that although progress has been made across the finance sector, there is still much work to be done to promote diversity and inclusion. By working together to address the challenges facing women in finance, we can create a more equitable and inclusive industry for all. 

Billy Burnside, Managing Director, commented:

On International Women's Day, we celebrate the invaluable contributions of women in our workforce and beyond. A balanced team is not just about meeting quotas, it's about creating a culture of diversity and inclusion that allows all individuals to thrive. I am proud to lead a team that recognises and values the unique perspectives and experiences of every member, regardless of gender. We know that a balanced team leads to better decision-making, increased innovation, and ultimately, greater success for our company and our clients.