Why studying a STEM subject is the perfect foundation for a (female) career in finance
We need more women in STEM if the financial industry is to become more diverse and innovative. To encourage more women to study STEM subjects, we asked our female colleagues in the Investment division how they came to study STEM subjects and what advice they would give to young women.
Innovative Mindset is one of our four core values as a company. Diversity plays a role in this core value – it has been proven that cognitively more diverse teams are more innovative and successful than less diverse teams. That’s why as a company we regularly ask ourselves: How can we become more diverse?
The obvious place to start is by looking at the ratio of female to male employees.
- Across the organisation, we have almost 30% female employees. In the Investments division where innovation is key, 20% are women.
- We would like to recruit more women. However, when we advertise jobs in this area, we tend to receive mostly applications from men.
- As a quantitative asset manager, our investment division requires not only a high level of capital market knowledge, but also a high level of scientific understanding.
- We have a high proportion of PhDs in economics and other sciences, often in STEM (science, technology, engineering, mathematics).
Where do we go from here? We can only recruit more women if more women apply to work for us. The number of female applicants can only increase if more women graduate in STEM.
To encourage young women to study STEM subjects, we asked our female colleagues in Investments how they got the idea to study a STEM subject. What would they tell their younger selves today, and what advice would they give to young women considering such a degree?
“It is important not to get discouraged by setbacks and to keep questioning your own motivation. I would also advise young women to start networking early and to find mentors who can support them in difficult moments and encourage them to follow their own path.”
Dr Jieyan Fang-Klingler,
Co-Head of Research Forecasts
What did you study and how did you end up studying it?
I studied economics, specialising in finance, and later did a PhD in the same field. Even during my school days in China, I had a strong interest in mathematics and economics. The decision to study economics came from my interest in combining analytical thinking with social relevance. In Germany, I took the opportunity to continue my academic education and specialise in finance with a focus on quantitative analysis.
What made you start a career in the finance industry?
During my studies, I completed various internships in areas such as auditing, asset management and consulting. The internship in finance was the one I enjoyed the most. I was fascinated by this industry because of its versatility and its huge impact on the global economy. I find it exciting to see how decisions in the financial world can have a direct impact on companies, economies and people’s everyday lives. As I delved deeper into financial markets for my PhD, I realised that my analytical skills and passion for complex economic relationships were a perfect fit for a career in finance. It has given me the opportunity to work in both research and practice, constantly taking on new challenges.
What would be your advice to your younger self or what would be your advice to young women, considering starting to study a STEM subject?
My advice would be not to be discouraged by doubts or societal norms. Although it may seem challenging at the beginning, it is incredibly rewarding to continually develop your skills and discover new perspectives. It is important not to get discouraged by setbacks and to keep questioning your own motivation. I would also advise young women to start networking early and to find mentors who can support them in difficult moments and encourage them to follow their own path. STEM careers open up a huge range of exciting opportunities that are vital to society.
“What would I say to young women considering a STEM degree? Go for it, it’s worth it!”
Dr Laura Jehl,
Research Analyst
What did you study and how did you end up studying it?
I have always been interested in both humanities and math/computer science, and I have had a growing fascination with language. Computational linguistics provided a perfect amalgamation of my interests, combined with a focus on practical application.
What made you start a career in the finance industry?
Primarily the perspective of applying my expertise in natural language processing to a difficult forecasting problem.
What would be your advice to your younger self or what would be your advice to young women, considering starting to study a STEM subject?
Go for it, it’s worth it!
“I like the finance industry because it combines different fields of knowledge, such as finance, innovation, and communication, offering dynamic challenges and continuous learning opportunities.”
Rocío Muñiz,
Portfolio Manager Equities
What did you study and how did you end up studying it?
I studied economics because I was curious about the relationships between economics, finance, society, and other interconnected fields such as politics. My interest in understanding how these factors influence each other led me to choose this path.
What made you start a career in the finance industry?
I am passionate about investing, and becoming a portfolio manager allows me to develop my analytical skills while making an impact. I like the finance industry because it combines different fields of knowledge, such as finance, innovation, and communication, offering dynamic challenges and continuous learning opportunities.
What would be your advice to your younger self or what would be your advice to young women, considering starting to study a STEM subject?
My advice would be to follow your curiosity and to pursue your potential. You can work on things you love, and by doing so, you’ll unlock more innovative ideas and push the boundaries of knowledge. Stay confident in your potential, embrace learning challenges, and seek out opportunities that inspire you.
“In today’s professional landscape, analytical thinking and data skills are increasingly valuable. However, understanding your intrinsic motivation for choosing a science major is critical.”
Dr Desislava Rakova,
Research Forecasts
What did you study and how did you end up studying it?
I studied economics with a specialisation in finance and a focus on capital markets. My interest in finance started early in high school. I remember a career day organised by our class teacher, where parents presented their careers. The father of a classmate who worked in finance gave a particularly compelling presentation. After 7th grade, I attended a business school with a major in banking, which further reinforced my interest in finance. This led me to delve deeper into the subject during my undergraduate and graduate studies, culminating in my Ph.D. dissertation.
What made you start a career in the finance industry?
It is difficult to pinpoint a specific turning point that led me to the financial industry, but I believe my undergraduate studies played an important role. I was particularly interested in understanding the dynamics of price discovery in capital markets – specifically, how to determine the fair price of various instruments and develop predictive models. I found it particularly appealing that quantitative analysis could be used to make predictions about portfolio performance. I soon realized the importance of hands-on experience, which led to an internship at Union Investment. This experience solidified my desire to pursue a career in finance.
What would be your advice to your younger self or what would be your advice to young women, considering starting to study a STEM subject?
My advice is simple: If you are unsure about your field of study, choosing a STEM subject provides a strong foundation for a science-based career and many opportunities for career development. In today’s professional landscape, analytical thinking and data skills are increasingly valuable. However, understanding your intrinsic motivation for choosing a science major is critical.
