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 (1249)
  • Men (4438)
Based on positions at 132 research institutions, excluding non-academic staff. As of November 2022.

Summary Statistics

Female fraction across all researchers
22%
Female fraction across full Professors
13%
Number of researchers
5687
Number of institutions
132
As of November 2022

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 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 132 research institutions, excluding non-academic staff. As of November 2022.

Institutions

Gender distribution across institutions

  • 1.

    University of Pittsburgh

    46.2%
  • 2.

    University of Zurich

    40.9%
  • 3.

    NOVA University Lisbon

    40.0%
  • 3.

    Toulouse School of Management (TSM)

    40.0%
  • 5.

    University of British Columbia

    36.4%
  • 6.

    London School of Economics and Political Science

    35.2%
  • 7.

    University of Amsterdam

    34.3%
  • 8.

    City University London

    33.3%
  • 8.

    University of Turin

    33.3%
  • 8.

    University of Utah

    33.3%
  • 8.

    University of Illinois at Chicago

    33.3%
  • 12.

    University of Melbourne

    32.8%
  • 13.

    Stockholm University

    32.4%
  • 14.

    University of Toronto

    31.9%
  • 15.

    University of Miami

    31.8%
  • 16.

    University of New South Wales (UNSW)

    31.6%
  • 16.

    McGill University

    31.6%
  • 18.

    University of Mannheim

    31.2%
  • 19.

    University of Geneva

    30.6%
  • 20.

    Vrije Universiteit Amsterdam

    30.0%
  • 21.

    Monash University

    29.7%
  • 21.

    University of Minnesota at Twin Cities

    29.7%
  • 23.

    London Business School (LBS)

    29.2%
  • 23.

    Kings College London

    29.2%
  • 23.

    University of California at Irvine

    29.2%
  • 26.

    University of Warwick

    28.6%
  • 26.

    Technical University of Munich (TUM)

    28.6%
  • 26.

    Toulouse School of Economics (TSE)

    28.6%
  • 29.

    Universidad Carlos III de Madrid (UC3M)

    27.8%
  • 30.

    Drexel University

    27.3%
  • 30.

    Tsinghua University

    27.3%
  • 32.

    University of Maryland at College Park

    27.0%
  • 33.

    University College London

    26.9%
  • 34.

    University of Southern California

    26.7%
  • 35.

    University of Manchester

    26.4%
  • 35.

    Stockholm School of Economics (SSE)  

    26.4%
  • 37.

    BI Norwegian Business School

    25.8%
  • 38.

    National University of Singapore (NUS)

    25.7%
  • 38.

    Columbia University

    25.7%
  • 40.

    Imperial College London

    25.4%
  • 41.

    Ohio State University

    25.0%
  • 41.

    University of North Carolina at Chapel Hill

    25.0%
  • 41.

    Georgia Institute of Technology

    25.0%
  • 41.

    University of South Carolina at Columbia

    25.0%
  • 41.

    State University of New York (SUNY) at Buffalo

    25.0%
  • 46.

    Washington University at St. Louis

    24.5%
  • 47.

    Cornell University

    24.3%
  • 48.

    Texas A&M University at College Station

    24.1%
  • 49.

    University of Illinois at Urbana-Champaign

    24.0%
  • 50.

    University of Innsbruck

    23.9%
  • 51.

    University of Edinburgh

    23.7%
  • 52.

    City University of New York (CUNY)

    23.5%
  • 52.

    ESSEC

    23.5%
  • 54.

    University of Washington at Seattle

    23.4%
  • 55.

    Lancaster University

    22.9%
  • 56.

    Erasmus University

    22.6%
  • 56.

    University of Missouri at Columbia

    22.6%
  • 58.

    Queen's University - Canada

    22.2%
  • 59.

    University of California at Berkeley

    21.6%
  • 60.

    Aalto University

    21.4%
  • 61.

    Stanford University

    21.3%
  • 62.

    University of Arizona

    21.2%
  • 63.

    Pennsylvania State University at University Park

    21.1%
  • 64.

    University of Colorado at Boulder

    20.9%
  • 64.

    Rice University

    20.9%
  • 66.

    Carnegie Mellon University

    20.8%
  • 66.

    Purdue University

    20.8%
  • 68.

    Nanyang Technological University

    20.7%
  • 69.

    Norwegian School of Economics (NHH)

    20.5%
  • 69.

    Duke University

    20.5%
  • 71.

    Pompeu Fabra University

    20.4%
  • 72.

    Massachusetts Institute of Technology

    20.3%
  • 72.

    University of Texas at Dallas

    20.3%
  • 74.

    Bocconi University

    20.2%
  • 75.

    University of Gothenburg

    20.0%
  • 75.

    University of Vienna

    20.0%
  • 75.

    Goethe-University of Frankfurt

    20.0%
  • 75.

    Indian School of Business

    20.0%
  • 79.

    Universita della Svizzera Italiana, Lugano

    19.4%
  • 80.

    University of Pennsylvania

    19.2%
  • 80.

    Harvard University

    19.2%
  • 80.

    University of Michigan at Ann Arbor

    19.2%
  • 80.

    Copenhagen Business School

    19.2%
  • 84.

    Boston University

    19.0%
  • 85.

    Boston College

    18.9%
  • 85.

    Tulane University

    18.9%
  • 87.

    University of Texas at Austin

    18.1%
  • 88.

    Frankfurt School of Finance and Management  

    17.9%
  • 89.

    Indiana University at Bloomington

    17.8%
  • 90.

    University of Lausanne

    17.4%
  • 91.

    University of California at Los Angeles

    17.0%
  • 92.

    Humboldt University at Berlin

    16.7%
  • 92.

    University of California at San Diego

    16.7%
  • 92.

    Georgia State University

    16.7%
  • 92.

    University of Virginia

    16.7%
  • 96.

    Arizona State University

    16.3%
  • 97.

    New York University

    16.0%
  • 97.

    City University of Hong Kong

    16.0%
  • 99.

    Michigan State University

    15.6%
  • 100.

    University of Houston

    15.4%
  • 101.

    Yale University

    15.2%
  • 102.

    Singapore Management University

    15.0%
  • 102.

    University of Chicago

    15.0%
  • 104.

    Hong Kong Polytechnic University

    14.8%
  • 105.

    Tilburg University

    14.0%
  • 105.

    University of Notre Dame

    14.0%
  • 107.

    Emory University

    13.6%
  • 108.

    Swiss Federal Institute of Technology in Lausanne

    13.3%
  • 108.

    Dartmouth College

    13.3%
  • 110.

    IE University

    13.2%
  • 111.

    Northeastern University

    12.8%
  • 112.

    Georgetown University

    12.5%
  • 112.

    INSEAD

    12.5%
  • 112.

    Hong Kong University of Science and Technology

    12.5%
  • 115.

    Princeton University  

    11.8%
  • 116.

    University of Navarra

    11.5%
  • 116.

    University of Hong Kong

    11.5%
  • 118.

    HEC Paris

    11.1%
  • 119.

    Northwestern University

    10.3%
  • 120.

    Johns Hopkins University

    10.2%
  • 121.

    University of Kentucky

    10.0%
  • 121.

    EDHEC

    10.0%
  • 121.

    Chinese University of Hong Kong (CUHK)

    10.0%
  • 124.

    University of Florida

    9.8%
  • 125.

    University of Oxford

    9.1%
  • 126.

    University of Rochester

    8.0%
  • 127.

    Peking University, Guanghua

    7.4%
  • 128.

    University of Bern

    7.1%
  • 128.

    Brigham Young University

    7.1%
  • 130.

    University of Copenhagen 

    6.2%
  • 131.

    University of Cambridge

    5.3%
  • 132.

    University of Cyprus

    0.0%
  • 1.

    University of Missouri at Columbia

    100.0%
  • 2.

    Toulouse School of Management (TSM)

    44.4%
  • 2.

    Ohio State University

    44.4%
  • 4.

    University of Illinois at Chicago

    40.0%
  • 4.

    University of Arizona

    40.0%
  • 6.

    University of California at Berkeley

    35.7%
  • 7.

    McGill University

    33.3%
  • 7.

    University of California at Irvine

    33.3%
  • 7.

    University of Miami

    33.3%
  • 7.

    Purdue University

    33.3%
  • 7.

    Tulane University

    33.3%
  • 7.

    University of Virginia

    33.3%
  • 7.

    Hong Kong University of Science and Technology

    33.3%
  • 14.

    University of Manchester

    31.2%
  • 15.

    Rice University

    30.0%
  • 16.

    Toulouse School of Economics (TSE)

    28.6%
  • 16.

    University of North Carolina at Chapel Hill

    28.6%
  • 16.

    University of Mannheim

    28.6%
  • 16.

    Technical University of Munich (TUM)

    28.6%
  • 20.

    Cornell University

    27.3%
  • 21.

    City University of New York (CUNY)

    26.7%
  • 22.

    Queen's University - Canada

    25.0%
  • 22.

    Stockholm University

    25.0%
  • 22.

    University of Utah

    25.0%
  • 22.

    University of Pittsburgh

    25.0%
  • 22.

    University of Kentucky

    25.0%
  • 22.

    University of Vienna

    25.0%
  • 28.

    Northwestern University

    22.7%
  • 29.

    University of Toronto

    22.2%
  • 29.

    Indiana University at Bloomington

    22.2%
  • 29.

    University of Geneva

    22.2%
  • 32.

    City University London

    21.7%
  • 33.

    Emory University

    20.0%
  • 33.

    University of South Carolina at Columbia

    20.0%
  • 33.

    Kings College London

    20.0%
  • 33.

    University of Zurich

    20.0%
  • 37.

    University of Michigan at Ann Arbor

    18.2%
  • 37.

    University of Minnesota at Twin Cities

    18.2%
  • 37.

    Peking University, Guanghua

    18.2%
  • 37.

    University of Melbourne

    18.2%
  • 37.

    National University of Singapore (NUS)

    18.2%
  • 42.

    Boston College

    17.6%
  • 43.

    INSEAD

    16.7%
  • 43.

    Georgetown University

    16.7%
  • 43.

    Carnegie Mellon University

    16.7%
  • 43.

    Drexel University

    16.7%
  • 43.

    Tsinghua University

    16.7%
  • 43.

    Swiss Federal Institute of Technology in Lausanne

    16.7%
  • 43.

    IE University

    16.7%
  • 43.

    Universidad Carlos III de Madrid (UC3M)

    16.7%
  • 43.

    Norwegian School of Economics (NHH)

    16.7%
  • 52.

    Massachusetts Institute of Technology

    15.4%
  • 52.

    Goethe-University of Frankfurt

    15.4%
  • 54.

    Stockholm School of Economics (SSE)  

    14.3%
  • 54.

    University of Washington at Seattle

    14.3%
  • 54.

    University of Colorado at Boulder

    14.3%
  • 54.

    Pennsylvania State University at University Park

    14.3%
  • 54.

    Northeastern University

    14.3%
  • 54.

    London Business School (LBS)

    14.3%
  • 54.

    Monash University

    14.3%
  • 61.

    University of Pennsylvania

    13.8%
  • 62.

    Yale University

    12.5%
  • 63.

    EDHEC

    11.8%
  • 64.

    Harvard University

    11.5%
  • 65.

    Stanford University

    11.1%
  • 65.

    Arizona State University

    11.1%
  • 65.

    University of Hong Kong

    11.1%
  • 68.

    University of Texas at Austin

    10.5%
  • 69.

    Dartmouth College

    10.0%
  • 69.

    Brigham Young University

    10.0%
  • 71.

    ESSEC

    9.1%
  • 72.

    New York University

    8.7%
  • 73.

    Columbia University

    8.3%
  • 73.

    University of Oxford

    8.3%
  • 73.

    University of Warwick

    8.3%
  • 73.

    University of Innsbruck

    8.3%
  • 77.

    University of Southern California

    7.7%
  • 77.

    University of California at Los Angeles

    7.7%
  • 77.

    Hong Kong Polytechnic University

    7.7%
  • 77.

    University of Navarra

    7.7%
  • 81.

    Erasmus University

    7.1%
  • 81.

    Vrije Universiteit Amsterdam

    7.1%
  • 83.

    Duke University

    6.7%
  • 83.

    London School of Economics and Political Science

    6.7%
  • 85.

    Tilburg University

    6.2%
  • 86.

    University of Chicago

    5.9%
  • 87.

    Texas A&M University at College Station

    5.3%
  • 87.

    Imperial College London

    5.3%
  • 89.

    Copenhagen Business School

    4.8%
  • 90.

    Bocconi University

    4.2%
  • 91.

    University of British Columbia

    0.0%
  • 91.

    HEC Paris

    0.0%
  • 91.

    University of Gothenburg

    0.0%
  • 91.

    University of Illinois at Urbana-Champaign

    0.0%
  • 91.

    Washington University at St. Louis

    0.0%
  • 91.

    University of Notre Dame

    0.0%
  • 91.

    University of Maryland at College Park

    0.0%
  • 91.

    University of Florida

    0.0%
  • 91.

    University of Houston

    0.0%
  • 91.

    Georgia Institute of Technology

    0.0%
  • 91.

    Michigan State University

    0.0%
  • 91.

    Princeton University  

    0.0%
  • 91.

    University of Texas at Dallas

    0.0%
  • 91.

    University of California at San Diego

    0.0%
  • 91.

    Boston University

    0.0%
  • 91.

    University of Rochester

    0.0%
  • 91.

    Johns Hopkins University

    0.0%
  • 91.

    Georgia State University

    0.0%
  • 91.

    State University of New York (SUNY) at Buffalo

    0.0%
  • 91.

    Frankfurt School of Finance and Management  

    0.0%
  • 91.

    Humboldt University at Berlin

    0.0%
  • 91.

    University of Cambridge

    0.0%
  • 91.

    University College London

    0.0%
  • 91.

    University of Edinburgh

    0.0%
  • 91.

    Lancaster University

    0.0%
  • 91.

    Chinese University of Hong Kong (CUHK)

    0.0%
  • 91.

    City University of Hong Kong

    0.0%
  • 91.

    University of New South Wales (UNSW)

    0.0%
  • 91.

    University of Lausanne

    0.0%
  • 91.

    Universita della Svizzera Italiana, Lugano

    0.0%
  • 91.

    University of Bern

    0.0%
  • 91.

    Pompeu Fabra University

    0.0%
  • 91.

    Singapore Management University

    0.0%
  • 91.

    Nanyang Technological University

    0.0%
  • 91.

    BI Norwegian Business School

    0.0%
  • 91.

    University of Amsterdam

    0.0%
  • 91.

    University of Turin

    0.0%
  • 91.

    University of Copenhagen 

    0.0%
  • 91.

    University of Cyprus

    0.0%
  • 91.

    Aalto University

    0.0%
  • 91.

    Indian School of Business

    0.0%
  • 91.

    NOVA University Lisbon

    0.0%
Based on positions at 132 research institutions, excluding non-academic staff. As of November 2022.

Hierarchical Levels

Gender distribution across hierarchical levels

Female Male
Based on positions at 132 research institutions, excluding non-academic staff. As of November 2022.