Women in Finance Data

A Monitoring Tool

It is a well-known fact that the proportion of women varies widely between different professions. Women’s careers differ from men’s for many reasons, such as preferences, networks, norms, children, and discrimination. The share of women also varies between different areas within academia and even within the field of economics. Unfortunately, financial economics seems to be one of the subfields that attracts the least women, see e.g. Adams and Xu (2022), Lundberg and Stearns (2019), and Friebel, Fuchs-Schündeln, and Weinberger (2021).

To increase the knowledge about the representation of female researchers in finance, we have gathered information from leading research institutions by collecting data that are publicly available on the institutions' websites. Our objective is to facilitate fact-finding and induce action by publishing reliable data.

This website draws exclusively on previous work by Guido Friebel, Alisa Weinberger, and Sascha Wilhelm at Goethe University in Frankfurt. They have developed a web-scraping tool that identifies individuals listed on their employers’ websites and records the position description and name titles of these individuals. Gender is identified through first names and a gender identification software analyzing pictures. The technology is explained in detail in Friebel and Wilhelm (2019), and their work is presented on the Women in European Economics website.

The Data

Our dataset covers only researchers in financial economics. We collect information from the global top 100 and European top 50 research institutions according to the UT Dallas Business School Rankings based on publications in the JF, JFE, and RFS in 2018–2020. The sample covers universities and business schools from 20 countries. Researchers are included in the sample if they belong to a finance department, finance research area/group/division, or if the institution otherwise provides information from which it can be retrieved whether the researchers are finance researchers.

Based on the scraped position descriptions and name titles, we map all researchers to a hierarchical level. Since every country has its own non-standardized terms for its levels, we map positions into a general hierarchy of positions: (1) Full Professor, (2) Associate Professor, (3) Assistant Professor, (4) Lecturer, (5) Research Fellow, and (6) Research Associate, see Friebel and Wilhelm (2019) for details.

We have done our best to assure the quality of the data, not only by manual checks, but also by asking the people responsible for the respective institution to verify the information we collected. Despite this, we cannot completely rule out that there are errors for individual institutions. Corrections or other input are very welcome.

We present our data on the country level, institutional level, and hierarchical level. No personal data are made available on this website.

Liability

The data on this website is managed by the Swedish House of Finance at the Stockholm School of Economics. No external parties are liable for the data.

The data may not be used for any purpose other than statistical analysis. Use of this data to learn the identity of any person is prohibited.

Read about compliance with the GDPR here.

Acknowledgements

First, we would like to thank Renée Adams at Oxford University for coming up with the idea to create this website. We would also like to thank all our colleagues for encouraging comments during the data collection process, and we are very grateful for having the opportunity to use the infrastructure developed by our colleagues at Goethe University. Finally, we would like to extend a special thank you to Alisa Weinberger for excellent project management. Without Alisa, this dataset would not have existed.

Gender distribution among researchers in financial economics

  • Women (1326)
  • Men (4583)
Based on positions at 133 research institutions. As of December 2023.

Summary Statistics

Female fraction across all researchers
22.4%
Female fraction across full Professors
12.8%
Number of researchers
5909
Number of institutions
133
As of December 2023

References

Adams, R.B. and J. Xu (2022)“The Inequality of Finance,” available at SSRN.

Friebel, G., N. Fuchs-Schündeln, and A. Weinberger (2021)“Statusbericht zum Frauenanteil in der Volkswirtschaftslehre an deutschen Universitäten,” Perspektiven der Wirtschaftspolitik 22 (2), 142-155

Friebel, G. and S. Wilhelm (2019)“The Women in European Economics Monitoring Tool: Technical Description,” Working Paper, available at https://women-economics.com.

Lundberg, S. and J. Stearns (2019)“Women in Economics: Stalled Progress,” Journal of Economic Perspectives, 33, 3–22

SHoF Women in Finance Data Description 2023

SHoF Women in Finance Data Description 2022

SHoF Women in Finance Data Description 2021

Screenshot 2022-06-15 155439.png

Please check the AFFECT database, and consider adding yourself to the list of female researchers around the world.

Download the SHoF Women in Finance Data

Here you can find the raw data on female representation in financial research institutions.
Select data file

Countries

Gender distribution across countries

Females
0%
10%
20%
30%
40%
50%
Based on positions at 133 research institutions. As of December 2023.

Institutions

Gender distribution across institutions

  • 1.

    Kings College London

    41.1%
  • 2.

    University of British Columbia

    40.9%
  • 3.

    University of Turin

    39.1%
  • 4.

    University of Edinburgh

    38.8%
  • 5.

    University of New South Wales (UNSW)

    38.7%
  • 6.

    Toulouse School of Management (TSM)

    37.5%
  • 7.

    University College London

    35.3%
  • 8.

    University of Geneva

    34.3%
  • 9.

    University of California at Irvine

    33.3%
  • 9.

    Georgia Institute of Technology

    33.3%
  • 11.

    London Business School (LBS)

    32.6%
  • 12.

    Monash University

    32.5%
  • 13.

    ESSEC

    32.3%
  • 14.

    London School of Economics and Political Science

    32.1%
  • 14.

    University of Mannheim

    32.1%
  • 16.

    University of Miami

    32.0%
  • 17.

    University of Melbourne

    31.7%
  • 18.

    Lancaster University

    30.3%
  • 19.

    University of Utah

    30.2%
  • 20.

    University of Zurich

    30.0%
  • 21.

    University of Illinois at Chicago

    29.6%
  • 22.

    National University of Singapore (NUS)

    29.5%
  • 23.

    City University London

    29.4%
  • 23.

    Stockholm University

    29.4%
  • 25.

    University of Southern California

    29.0%
  • 26.

    Imperial College London

    28.9%
  • 26.

    Hong Kong Polytechnic University

    28.9%
  • 28.

    University of Amsterdam

    28.6%
  • 28.

    Toulouse School of Economics (TSE)

    28.6%
  • 30.

    McGill University

    28.2%
  • 31.

    University of Toronto

    28.0%
  • 31.

    Carnegie Mellon University

    28.0%
  • 33.

    Indian School of Business

    27.8%
  • 34.

    University of Texas at Dallas

    27.0%
  • 35.

    Stockholm School of Economics (SSE)  

    26.9%
  • 36.

    University of California at Los Angeles

    26.7%
  • 37.

    Ohio State University

    26.5%
  • 37.

    University of North Carolina at Chapel Hill

    26.5%
  • 37.

    University of Colorado at Boulder

    26.5%
  • 40.

    Tulane University

    26.3%
  • 40.

    Universidad Carlos III de Madrid (UC3M)

    26.3%
  • 42.

    Pennsylvania State University at University Park

    26.2%
  • 43.

    Drexel University

    26.1%
  • 44.

    University of Pittsburgh

    25.9%
  • 45.

    University of Missouri

    25.8%
  • 46.

    University of Minnesota at Twin Cities

    25.6%
  • 47.

    University of Warwick

    25.0%
  • 47.

    NOVA University Lisbon

    25.0%
  • 47.

    Boston University

    25.0%
  • 47.

    Temple University

    25.0%
  • 47.

    State University of New York (SUNY) at Buffalo

    25.0%
  • 47.

    Tsinghua University

    25.0%
  • 53.

    Columbia University

    24.3%
  • 54.

    BI Norwegian Business School

    24.2%
  • 54.

    Texas A&M University at College Station

    24.2%
  • 56.

    Bocconi University

    24.1%
  • 56.

    University of South Carolina

    24.1%
  • 58.

    Emory University

    23.3%
  • 59.

    University of Vienna

    23.1%
  • 60.

    University of Lausanne

    22.7%
  • 61.

    University of Manchester

    22.4%
  • 61.

    Frankfurt School of Finance and Management

    22.4%
  • 63.

    Cornell University

    22.2%
  • 64.

    City University of New York (CUNY)

    21.9%
  • 65.

    University of Washington at Seattle

    21.8%
  • 66.

    Vrije Universiteit Amsterdam

    21.5%
  • 66.

    University of Illinois at Urbana-Champaign

    21.5%
  • 68.

    Washington University at St. Louis

    21.2%
  • 68.

    University of Rochester

    21.2%
  • 70.

    Norwegian School of Economics (NHH)

    20.9%
  • 71.

    University of Gothenburg

    20.8%
  • 71.

    Massachusetts Institute of Technology

    20.8%
  • 73.

    Rice University

    20.5%
  • 74.

    Technical University of Munich (TUM)

    20.0%
  • 74.

    Nanyang Technological University

    20.0%
  • 74.

    Harvard University

    20.0%
  • 74.

    Boston College

    20.0%
  • 74.

    Georgia State University

    20.0%
  • 79.

    University of Pennsylvania

    19.8%
  • 80.

    Universita della Svizzera Italiana, Lugano

    19.4%
  • 81.

    Erasmus University

    19.3%
  • 82.

    Indiana University at Bloomington

    19.2%
  • 82.

    University of Florida

    19.2%
  • 82.

    Purdue University

    19.2%
  • 85.

    Humboldt University at Berlin

    19.0%
  • 86.

    University of Notre Dame

    18.4%
  • 86.

    University of Maryland at College Park

    18.4%
  • 86.

    Copenhagen Business School

    18.4%
  • 89.

    Northwestern University

    18.3%
  • 90.

    Swiss Federal Institute of Technology in Lausanne

    18.2%
  • 90.

    University of Arizona

    18.2%
  • 92.

    Aalto University

    17.9%
  • 93.

    University of Texas at Austin

    17.6%
  • 93.

    Yale University

    17.6%
  • 95.

    University of Chicago

    17.4%
  • 96.

    University of Houston

    17.2%
  • 97.

    University of California at Berkeley

    17.1%
  • 98.

    Duke University

    17.0%
  • 99.

    University of California at San Diego

    16.1%
  • 100.

    University of Innsbruck

    15.8%
  • 101.

    Tilburg University

    15.6%
  • 101.

    Stanford University

    15.6%
  • 103.

    Northeastern University

    15.5%
  • 104.

    Queen's University - Canada

    15.4%
  • 104.

    Arizona State University

    15.4%
  • 106.

    University of Michigan at Ann Arbor

    15.2%
  • 107.

    Singapore Management University

    15.0%
  • 108.

    University of Cambridge

    14.8%
  • 109.

    Hong Kong University of Science and Technology (HKUST)

    14.6%
  • 110.

    Michigan State University

    14.3%
  • 111.

    INSEAD

    13.0%
  • 111.

    Pompeu Fabra University

    13.0%
  • 113.

    IE University

    12.7%
  • 114.

    Goethe-University of Frankfurt

    12.5%
  • 114.

    Chinese University of Hong Kong (CUHK)

    12.5%
  • 116.

    University of Bern

    11.8%
  • 117.

    Georgetown University

    11.4%
  • 118.

    University of Kentucky

    11.1%
  • 119.

    Johns Hopkins University

    10.7%
  • 119.

    Peking University, Guanghua

    10.7%
  • 121.

    New York University

    10.6%
  • 122.

    Princeton University  

    10.5%
  • 123.

    University of Hong Kong

    10.0%
  • 123.

    City University of Hong Kong

    10.0%
  • 125.

    University of Virginia

    9.5%
  • 126.

    University of Oxford

    9.1%
  • 127.

    EDHEC

    8.7%
  • 127.

    University of Navarra

    8.7%
  • 129.

    HEC Paris

    7.0%
  • 130.

    Dartmouth College

    6.2%
  • 131.

    Brigham Young University

    3.7%
  • 132.

    University of Copenhagen 

    0.0%
  • 132.

    University of Cyprus

    0.0%
  • 1.

    Toulouse School of Management (TSM)

    50.0%
  • 1.

    University of Turin

    50.0%
  • 3.

    Ohio State University

    44.4%
  • 4.

    University of California at Irvine

    40.0%
  • 4.

    University of Arizona

    40.0%
  • 6.

    Lancaster University

    33.3%
  • 6.

    University of Illinois at Chicago

    33.3%
  • 6.

    Purdue University

    33.3%
  • 6.

    Tulane University

    33.3%
  • 6.

    University of Missouri

    33.3%
  • 11.

    Indiana University at Bloomington

    30.0%
  • 12.

    Toulouse School of Economics (TSE)

    28.6%
  • 12.

    University of Mannheim

    28.6%
  • 14.

    University of Utah

    27.3%
  • 15.

    University of California at Berkeley

    26.7%
  • 16.

    University of Manchester

    26.3%
  • 17.

    University of Melbourne

    25.0%
  • 17.

    Stockholm University

    25.0%
  • 17.

    City University London

    25.0%
  • 17.

    University of Edinburgh

    25.0%
  • 17.

    University of Miami

    25.0%
  • 17.

    Temple University

    25.0%
  • 17.

    University of Vienna

    25.0%
  • 17.

    University of Geneva

    25.0%
  • 25.

    Cornell University

    23.1%
  • 25.

    University of North Carolina at Chapel Hill

    23.1%
  • 27.

    Northwestern University

    22.7%
  • 28.

    University of New South Wales (UNSW)

    22.2%
  • 28.

    Queen's University - Canada

    22.2%
  • 28.

    Georgetown University

    22.2%
  • 28.

    University of Virginia

    22.2%
  • 32.

    University of Toronto

    21.1%
  • 33.

    INSEAD

    20.0%
  • 33.

    Technical University of Munich (TUM)

    20.0%
  • 33.

    University of Michigan at Ann Arbor

    20.0%
  • 33.

    University of Minnesota at Twin Cities

    20.0%
  • 33.

    Rice University

    20.0%
  • 33.

    Drexel University

    20.0%
  • 33.

    University of Pittsburgh

    20.0%
  • 33.

    University of South Carolina

    20.0%
  • 33.

    University of Kentucky

    20.0%
  • 33.

    Northeastern University

    20.0%
  • 33.

    Universidad Carlos III de Madrid (UC3M)

    20.0%
  • 33.

    Hong Kong University of Science and Technology (HKUST)

    20.0%
  • 45.

    Pennsylvania State University at University Park

    18.2%
  • 45.

    Peking University, Guanghua

    18.2%
  • 47.

    Massachusetts Institute of Technology

    17.9%
  • 48.

    University of British Columbia

    16.7%
  • 48.

    Kings College London

    16.7%
  • 48.

    Boston College

    16.7%
  • 48.

    Emory University

    16.7%
  • 48.

    Carnegie Mellon University

    16.7%
  • 48.

    City University of New York (CUNY)

    16.7%
  • 48.

    IE University

    16.7%
  • 48.

    Tsinghua University

    16.7%
  • 56.

    University of Southern California

    15.8%
  • 57.

    Monash University

    14.3%
  • 57.

    Stockholm School of Economics (SSE)  

    14.3%
  • 57.

    Columbia University

    14.3%
  • 57.

    Swiss Federal Institute of Technology in Lausanne

    14.3%
  • 61.

    Goethe-University of Frankfurt

    12.5%
  • 61.

    Yale University

    12.5%
  • 61.

    University of Washington at Seattle

    12.5%
  • 61.

    University of Colorado at Boulder

    12.5%
  • 61.

    Norwegian School of Economics (NHH)

    12.5%
  • 61.

    National University of Singapore (NUS)

    12.5%
  • 67.

    University of Pennsylvania

    10.7%
  • 67.

    Stanford University

    10.7%
  • 69.

    Princeton University  

    10.0%
  • 69.

    Dartmouth College

    10.0%
  • 69.

    Texas A&M University at College Station

    10.0%
  • 72.

    University of Oxford

    9.1%
  • 72.

    Brigham Young University

    9.1%
  • 72.

    University of Navarra

    9.1%
  • 75.

    London Business School (LBS)

    8.3%
  • 75.

    University of California at Los Angeles

    8.3%
  • 77.

    Frankfurt School of Finance and Management

    7.7%
  • 77.

    University of Texas at Austin

    7.7%
  • 79.

    Harvard University

    7.1%
  • 80.

    London School of Economics and Political Science

    6.7%
  • 80.

    EDHEC

    6.7%
  • 82.

    Imperial College London

    5.9%
  • 82.

    Bocconi University

    5.9%
  • 82.

    Duke University

    5.9%
  • 85.

    New York University

    5.6%
  • 86.

    Copenhagen Business School

    5.3%
  • 87.

    McGill University

    0.0%
  • 87.

    University of Gothenburg

    0.0%
  • 87.

    University of Warwick

    0.0%
  • 87.

    University of Cambridge

    0.0%
  • 87.

    University College London

    0.0%
  • 87.

    HEC Paris

    0.0%
  • 87.

    ESSEC

    0.0%
  • 87.

    Humboldt University at Berlin

    0.0%
  • 87.

    University of Chicago

    0.0%
  • 87.

    University of Illinois at Urbana-Champaign

    0.0%
  • 87.

    Washington University at St. Louis

    0.0%
  • 87.

    Arizona State University

    0.0%
  • 87.

    University of Notre Dame

    0.0%
  • 87.

    University of Maryland at College Park

    0.0%
  • 87.

    University of Florida

    0.0%
  • 87.

    University of Houston

    0.0%
  • 87.

    Georgia Institute of Technology

    0.0%
  • 87.

    Michigan State University

    0.0%
  • 87.

    University of Texas at Dallas

    0.0%
  • 87.

    University of California at San Diego

    0.0%
  • 87.

    Boston University

    0.0%
  • 87.

    University of Rochester

    0.0%
  • 87.

    Johns Hopkins University

    0.0%
  • 87.

    Georgia State University

    0.0%
  • 87.

    State University of New York (SUNY) at Buffalo

    0.0%
  • 87.

    Pompeu Fabra University

    0.0%
  • 87.

    University of Innsbruck

    0.0%
  • 87.

    Chinese University of Hong Kong (CUHK)

    0.0%
  • 87.

    University of Hong Kong

    0.0%
  • 87.

    City University of Hong Kong

    0.0%
  • 87.

    Hong Kong Polytechnic University

    0.0%
  • 87.

    University of Lausanne

    0.0%
  • 87.

    Universita della Svizzera Italiana, Lugano

    0.0%
  • 87.

    University of Bern

    0.0%
  • 87.

    University of Zurich

    0.0%
  • 87.

    BI Norwegian Business School

    0.0%
  • 87.

    Singapore Management University

    0.0%
  • 87.

    Nanyang Technological University

    0.0%
  • 87.

    University of Copenhagen 

    0.0%
  • 87.

    University of Cyprus

    0.0%
  • 87.

    Aalto University

    0.0%
  • 87.

    Indian School of Business

    0.0%
  • 87.

    Erasmus University

    0.0%
  • 87.

    Tilburg University

    0.0%
  • 87.

    University of Amsterdam

    0.0%
  • 87.

    Vrije Universiteit Amsterdam

    0.0%
  • 87.

    NOVA University Lisbon

    0.0%
Based on positions at 133 research institutions. As of December 2023.

Hierarchical Levels

Gender distribution across hierarchical levels

Female Male
Based on positions at 133 research institutions. As of December 2023.