Survey reveals women’s views on financial security and employment trends 

Women continue to face significant financial barriers and career hurdles, according to a new survey released by Laurel Road, a digital banking platform of KeyBank with specialized offerings for healthcare and business professionals. 

According to the newly released survey, 84 percent of women feel apprehensive about staying on track with their financial goals due to the current economic environment.  

The sixth-annual survey from Laurel Road, which explores financial security and employment trends among 2,006 U.S. college-educated adults, found that two in three women overall report that they feel behind schedule regarding personal financial security, with 35 percent of all women identifying retirement savings as a key area they are behind in – while BIPOC women feeling generally behind on all financial goals.  

Findings also indicated not having enough money (60 percent) and too many other responsibilities (41 percent) are key hurdles in making headway toward their goals.  

Over half (52 percent) of the women surveyed reported feeling their employers are not doing all they can to lessen the gender pay gap, with 59 percent of BIPOC women agreeing that their company hasn’t been successful in improving pay disparity.  

However, more women (34 percent) reported feeling financially secure this year than last (25 percent). 

While economic uncertainty is top of mind, 64 percent of college-educated women feel that their current salary does not match their value. In comparison, only 39 percent of college men feel they are undervalued.  

With only 37 percent of women receiving a salary they feel correlates with their value, 61 percent of women surveyed shared that a higher salary would encourage them to leave their current role.  

This was followed by remote work opportunities, better work-life balance and stronger benefit packages as other top motivators for women to leave their current roles.  

“As we continue to field this study year after year, our goal is to bring transparency to the issues women face in the workplace every day which can impact their quality of life, both emotionally and financially,” said Alyssa Schaefer, general manager and chief experience officer at Laurel Road. “Ultimately, we want to encourage change by fostering open dialogue about these reoccurring trends.” 

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