Women in Investment: Breaking Barriers and Finding Purpose

With over 25 years of experience in pensions and investment markets, Jenny Segal MA FIA C.Act has carved out an inspiring career marked by resilience, leadership, and a passion for transforming workplace culture. From her early days as the only woman in a pensions team to becoming a respected author and workplace culture consultant, Jenny’s journey reflects both the progress made and the challenges that persist for women in the investment industry, overcoming both gender bias and serious health issues along the way.

A Serendipitous Start

“Like many people who work in pensions, it wasn’t an intentional career choice,” Jenny admits. Originally set on studying medicine, she switched to mathematics after an inspiring teacher’s proof of Euler’s equation sparked a lifelong love of the subject. After university, she joined a firm of consulting actuaries, where she was the only woman in her team in a non-secretarial role. “It felt pretty uncomfortable,” she reflects, recalling moments that would be unacceptable by today’s standards.? “It made me realise the importance of ‘visible diversity’.? When you are in a minority of one, it is hard to feel like you really belong.”

Overcoming Obstacles

One of the defining moments of Jenny’s career came when she was overlooked for a promotion to Global Head of her division when her boss left. “When I learnt of his resignation at the same time as everyone else, including that a successor had already been identified, it was a bit of a kick in the teeth.” Despite having the same qualifications and experience as the chosen (male) candidate, she wasn’t even considered for the role—an experience that shook her confidence. But instead of becoming bitter, Jenny focused on excelling in her work, supporting her new boss who went on to increase her pay so that she was no longer paid less than one of her direct reports.

Finding Purpose Through Ikigai

A personal health crisis prompted Jenny to embrace a portfolio career aligned with the Japanese concept of Ikigai, or “life purpose.” This philosophy encourages individuals to pursue work that sits at the intersection of what they’re good at, what they love, what the world needs, and what they can be paid for. Jenny founded her consultancy, Speaking With Images, to help organizations create cultures where people genuinely want to work. “Focus on the parts of the job you love and try to do more of that,” she advises.

Building Better Workplace Cultures

Jenny’s passion for workplace culture has led her to write four books on the subject, based on over 250 interviews.? 80 contributed to her most recent book On Motivation: Women & Workplace Culture. Among the key insights were the pervasive “Motherhood Penalty,” the need for equal parental leave policies, and the importance of challenging presenteeism. “We should be judged on the quality of our work, not when and where we do that work,” she argues. Jenny also emphasizes the need to combat unconscious bias through mentoring and ally ship, helping women prove their competence without having to constantly justify their place at the table, a concept she calls “guilty until proven innocent”.

Advice for the Next Generation

When asked what advice she would give to young women entering the investment industry, Jenny’s message is clear: “Be confident!” She highlights the well-documented confidence gap between men and women, encouraging women to apply for stretch roles and negotiate for better pay. “Recognise your imposter syndrome for what it is and don’t let it talk you out of asking for what you deserve.”

Jenny Segal’s journey is a testament to the power of resilience, self-belief, and the pursuit of purpose. By sharing her story, she not only inspires women to break barriers but also helps shape a more inclusive and equitable future for the investment industry.

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