{"id":8370,"date":"2024-11-22T13:50:47","date_gmt":"2024-11-22T13:50:47","guid":{"rendered":"https:\/\/finderica.com\/money-and-career-advice-from-financial-industrys-most-powerful-women\/"},"modified":"2024-11-22T13:50:47","modified_gmt":"2024-11-22T13:50:47","slug":"money-and-career-advice-from-financial-industrys-most-powerful-women","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=8370","title":{"rendered":"Money And Career Advice From Financial Industry\u2019s Most Powerful Women"},"content":{"rendered":"\n
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The banking and finance industry is evolving, and leading the charge are women. Women executives are breaking barriers, driving innovation, and inspiring others. Their advice on finances, career growth, and leadership offers valuable lessons for anyone at any stage. Here\u2019s what some of the Most Powerful Women in Banking and Finance<\/a> shared with me when it comes to money and career success.<\/p>\n

Holly O\u2019Neill: Start Early and Take Calculated Risks<\/h2>\n

Holly O\u2019Neill, President of Retail Banking at Bank of America, highlights the importance of building financial habits early.<\/p>\n

\u201cStart saving early, set a budget and plan, and don\u2019t spend money you don\u2019t have,\u201d she said. \u201cBuilding a financial safety net takes effort, but developing positive habits more than pays for itself.\u201d<\/p>\n

O\u2019Neill also advises stepping out of your comfort zone: \u201cBe open to new and different experiences, even when they feel out of your comfort zone. Trust your abilities and embrace opportunities\u2014they often lead to the greatest growth.\u201d<\/p>\n

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For O\u2019Neill, the most rewarding aspect of banking is creating solutions for clients.<\/p>\n

Melissa Stevens: Build and Maintain Your Network<\/h2>\n

Melissa Stevens, Executive Vice President and Chief Marketing Officer at Fifth Third Bank, emphasizes the importance of staying connected.<\/p>\n

\u201cBuild and maintain your network. Be curious and connected\u2014you can learn so much from those around you,\u201d she advised.<\/p>\n

Megan Johnson: Recognize Your Strengths and Advocate For Yourself<\/h2>\n

Megan Johnson,<\/a> Chief Marketing Officer at EverBank, encourages women to recognize their strengths.<\/p>\n

\u201cKnowing your value gives you the confidence to take on new opportunities,\u201d she said, referencing the mantra, \u201cWhether you think you can or you can\u2019t\u2014you are right.\u201d<\/p>\n

She also advocates for taking control of personal finances:<\/p>\n

\u201cMaximize your tax benefits through 401(k) contributions or IRAs, understand where your investments are allocated, and ensure your cash earns high yields. Online banks like EverBank often offer better rates than traditional banks,\u201d she noted.<\/p>\n

Beth Johnson: Focus on Long-Term Goals<\/h2>\n

Beth Johnson, Vice Chair and Chief Experience Officer at Citizens Financial Group, recommends focusing on long-term goals:<\/p>\n

\u201cFocus on your goals and allocate resources wisely. Don\u2019t forget\u2014it\u2019s always worth investing in yourself,\u201d she said.<\/p>\n

To her younger self, she would say: \u201cTake more chances. Don\u2019t be afraid to challenge the status quo.\u201d<\/p>\n

Kate Danella: It\u2019s Never Too Early Or Too Late To Plan<\/h2>\n

Kate Danella, Head of Consumer Banking at Regions Bank, encourages proactive financial planning at any life stage.<\/p>\n

\u201cIt\u2019s never too early or too late to plan for your financial future,\u201d said Kate Danella. \u201cNo matter your stage of life, the time to prepare for your financial future is now,\u201d she added, highlighting Regions Greenprint<\/a>, a free service that provides personalized financial roadmaps.<\/p>\n

Her advice? \u201cMake financial choices today with tomorrow in mind, but remember\u2014money is a tool for embracing life\u2019s moments.\u201d<\/p>\n

Swati Bhati: Discuss Finances Openly and Embrace Courage<\/h2>\n

Swati Bhatia, Head of Retail Banking and Transformation at Santander Bank, believes in openly discussing finances.<\/p>\n

\u201cMoney is not a taboo topic. Discuss it, plan for it, and let it work hard for you,\u201d she said.<\/p>\n

For young professionals, she advises embracing courage: \u201cFailure is a better teacher than success.\u201d<\/p>\n

Stacy Hammond: Stay Curious and Ask Questions<\/h2>\n

Stacy Hammond,<\/a> Managing Director and Chief Marketing Officer at Charles Schwab, stresses the importance of seeking knowledge and staying curious:<\/p>\n

\u201cAsk questions. Lots of them. When I first started working, I didn\u2019t even know what questions to ask, and investing felt intimidating. But my dad kept bugging me to open an IRA, and so I made myself walk into our midtown branch to do just that. This was years before I started at Schwab, and what crazy foreshadowing that turned out to be!<\/p>\n

When the financial consultant asked me what kind of IRA and what I wanted to invest in, I didn\u2019t even know the difference between choosing an account type and choosing the investment that I\u2019d hold in the account. They were so helpful with their response that I started to feel comfortable and proceeded to ask dozens of other questions. By the time I walked out, I had a completely different attitude toward my future and understanding of how my money fit into that,\u201d Hammond said.<\/p>\n

She continued, \u201cI\u2019ve never stopped learning since then, and it\u2019s a big part of why I\u2019ve stayed at Schwab for so long. I really connect with our mission to make investing more engaging and approachable so that more people can take ownership of their financial futures.\u201d<\/p>\n

Jennifer Halloran: Save Early and Surround Yourself with Experts<\/h2>\n

Jennifer Halloran<\/a> CMO, Head of Marketing and Brand at Mass Mutual credits her upbringing for instilling strong financial habits.<\/p>\n

\u201cMy parents were raised by the \u2018depression era\u2019 generation, so saving and planning were always priorities in our household. My first job was delivering newspapers before school, and no matter how much money I made, I was only allowed to keep 20%, with the rest going into a savings account. This taught me to plan for purchases, making them more meaningful because I had to wait and save,\u201d Halloran said.<\/p>\n

Looking back, Halloran is grateful for those lessons. \u201cSave, have dreams while living within your means, set goals, and surround yourself with people you trust who know more than you do,\u201d she advised.<\/p>\n

Halloran also highlighted the importance of working with a financial professional. \u201cResearch shows that those who engage with a financial professional earlier in life feel more secure and confident about their financial future and achieve better outcomes,\u201d she shared.<\/p>\n

Mallory Niemczyk: Prioritize Savings With the \u201cPay Yourself First\u201d Approach<\/h2>\n

Mallory Niemczyk, Senior Director of Product and Strategy at Ally Bank, underscores the importance of saving:<\/p>\n

\u201cTransfer a portion of your paycheck to savings immediately, even if it\u2019s small. It\u2019s out of sight, out of mind, and it adds up over time,\u201d she advised.<\/p>\n

She also recommends embracing discomfort in professional growth: \u201cGrowth happens when you push yourself outside your comfort zone.\u201d<\/p>\n

Key Takeaways<\/h2>\n