Is Finance for Me? Gender Differences in Choice of Finance as a College Major

Abstract

Using a sample of senior college students, this study investigates why there are so few female students choosing finance as their major and the motivating factors for students when choosing a major. We find that very few female students as compared to male students consider choosing finance as a major, and more female students said given another opportunity, they would not choose finance as a major. Female students appear to be motivated by family members, while male students appear to be motivated by increased job opportunities. More female students cited a perceived lack of quantitative skills for not choosing finance as their major; however, female students who have a higher perception of their quantitative skills are more likely to choose finance as their major. Regardless of gender, most students say they do not choose finance as a major because they do not see themselves in the finance industry, or they simply prefer other business majors.