Occupational boundaries: Gender capital and career progression in the financial planning industry

Abstract

Gender inequality and occupational segregation in Australian financial services present a stark disparity, with men working as financial planners and women being over-represented in lower-paid administrative positions. This article uses a gender capital theoretical framework to examine gender segregation between financial planning and paraplanning occupations. Analysis of interviews with 26 financial professionals suggested that masculine capital, including confidence and persuasive soft skills, marked success as a financial planner. Feminine capital, including organizational skills, was aligned with the role of paraplanner. These findings contribute a new perspective on why gender segregation occurs in financial planning. These findings bear relevance as financial planning professionalizes.