Women in Finance Are Driving Change in Canada’s Finance Industry

Canada’s finance industry is at a turning point as a new generation of women pursue the CFA designation and begin to close a long-standing gender gap, bringing ambition, curiosity and confidence to the field.

At CFA Society Toronto, the world’s largest society of CFA® charterholders with more than 11,500 members, we are seeing this shift play out in real-time. More young women are entering the profession, joining the community, and seeking opportunities to learn, connect, and grow. The momentum is undeniable and speaks to the strength and calibre entering the industry today.

Women in Finance Are Closing the Gender Gap

According to CFA Institute, women are expected to make up 33% of CFA Program graduates by 2026, rising to 35% by 2027. At CFA Society Toronto, female representation is also projected to grow from 30% today to 35% in the coming years.

This steady growth reflects how more young women are entering the profession with a long-term mindset, pursuing professional accreditation early, and building strong foundations to support their careers over time. Word is spreading that the financial industry is not just a bastion of men and that the variety of amazing professional opportunities for women in finance is available with the right mix of education, credentials and grit.

What Women Experience in Canada’s Finance Industry Today

Research from VersaFi’s 2026 Powering Progress Scorecard provides helpful insight into how women are experiencing the finance industry today.

Culture scores 7.4 out of 10: This positive finding suggests many women feel motivated at work, supported by their teams, and confident that their contributions are valued.

Retention scores 5.9 out of 10: Fewer than half of respondents (47%) felt their pay was comparable to peers in similar roles, while just over half (53%) said performance evaluations were fair and objective. Not bad, but room for improvement.

Advancement scores 5.0 out of 10: However, there are areas for improvement. Only around 40% of women feel there is a clear path toward their career goals, while 58% aspire to reach the C-suite. That is a mismatch. However, only four in ten expect to be promoted within the next five years. Hopefully, expectations are not reality, but it might mean women have to switch to get the advancement they need or seek out their professional communities to help with relationship capital building.

Together, these insights highlight the growing importance of mentorship, professional development, and strong networks in supporting long-term career growth in the industry.

Why Mentorship and Networks Matter for Women in Finance

Mentorship and professional networks have played an important role throughout my career and continue to matter for those entering the industry today. Early on, I was fortunate to have mentors who supported my development and helped me navigate the complexities of asset management. Their guidance and encouragement helped build confidence over time.

Peer networks were equally valuable. Informal groups created space to share experiences, exchange advice, and learn from others at similar stages in their careers. For me, these connections helped foster a sense of belonging, especially at a time when female representation in finance was more limited.

Professional communities bring these elements together in a meaningful way. My own experience with CFA Society Toronto was invaluable and shows a path for others. What began as attending events and connecting with peers gradually evolved into deeper involvement through volunteering and committee work, expanding my network and exposure to different areas of finance.

For aspiring young women in finance, I encourage them to reach out to organizations like CFA Society Toronto, which offer access to mentorship, exposure to different career paths, and opportunities to build relationships that support long-term growth. These communities create space not only for learning, but also for connection and confidence building, both of which are critical in shaping a career.

Together, mentorship, networks, and professional communities create a stronger foundation for navigating the industry. 

Advice for Young Women Entering the Finance Industry

For young women starting out in finance, having a clear sense of direction can make a meaningful difference. One approach that has shaped my career is setting a long-term “stretch goal” and working toward it over time. For me, that goal was to become a Chief Investment Officer, which helped guide my decisions and the roles I pursued, each offering opportunities to build new skills and deepen my understanding of a broader array of asset classes within investment management.

Being intentional about the environments you choose is equally important. Within my career, there were times when I worked in settings where growth opportunities were less supported. Moving to a new organization that recognized my contributions and supported my development made a significant difference, reinforcing the value of choosing workplaces that align with your values and ambitions.

Continuous learning is also key. The industry evolves quickly, and staying curious helps ensure your skills remain relevant.

Building Stronger Support Systems for Women in Finance

As more young women enter the industry, there is an opportunity to strengthen the support systems that help them grow over time. This includes making mentorship more accessible, investing in professional development, and creating more opportunities to build skills and gain experience throughout their careers.

Professional communities also play an important role. Organizations like CFA Society Toronto provide spaces where individuals can connect with mentors, learn from peers, and gain exposure to different career paths. These experiences often make a meaningful difference, particularly in the early stages of a career.

Employers also play a key role in shaping these outcomes. When organizations prioritize development, encourage continuous learning, and create environments where professionals feel supported, it helps ensure that more young women not only enter the industry but also continue to build long and successful careers within it.

A More Inclusive Future for Canada’s Finance Industry

The growth we are seeing among young women entering finance is a positive sign for the future of the industry. It shows that more people are viewing finance as a place where they can build meaningful careers and continue to grow over time.

This momentum reflects emerging talent, a wider range of perspectives, and a more dynamic future for Canada’s finance industry.