The path to success in any profession is rarely without obstacles, and for women in traditionally male-dominated fields like M&A, private equity, and law, the challenges can sometimes feel magnified. However, at a recent Women in Dealmaking event in Helsinki, Meri Koivula, Salla Tuominen, and Anne Virkkunen discussed with Nertila Asani how there has been meaningful progress for navigating the complexities of balancing career, family, and the often unspoken biases that persist in the workplace. And by advocating for change, supporting one another, and challenging outdated norms, women are reshaping the landscape of deal-making and paving the way for the next generation to thrive.

Juggling Roles and Breaking Stereotypes

A recurring theme for many women in finance is the struggle to balance multiple roles: mother, wife, friend, and professional. This ‘rush hour of life’ often coincides with pivotal moments in a woman’s career. The demands of young children, aging parents, and the expectations of managing a household frequently fall disproportionately on women, creating a unique set of pressures. And despite advancements in workplace policies, women still shoulder much of the responsibilities in these areas.

Gender bias, while less overt than in the past, can still manifest in subtle and sometimes frustrating ways, like assumptions around their titles or roles or whether they have the authority to ‘be in the room’. Such microaggressions, though seemingly small, can erode confidence over time if not addressed.

Progress and Positive Change

Encouragingly, however, there have been tangible improvements in workplace culture and gender representation over the years. Firms are increasingly adopting policies like flexible working hours, mentorship programs, and gender-diversity targets, as well as internal policies to increase the proportion of female partners, reflecting a broader industry push toward inclusivity.

Initiatives like Level 20, an organization that aims to have 20% of private equity senior positions held by women, are helping to normalize female leadership in traditionally male-dominated fields. By working with universities, hosting career events, and engaging directly with young women, these programs aim to demystify industries like finance and private equity, encouraging more women to pursue these careers.

The Power of Mentorship and Sponsorship

Mentorship and sponsorship also are important in helping women thrive in the sector. Mentorship provides a safe space for women to seek guidance, share experiences, and gain insights into navigating their careers. Sponsorship, on the other hand, involves advocating for women, creating opportunities for them, and ensuring their voices are heard in key decision-making moments.

While mentors and sponsors can helps women  tackle challenges and build confidence,  women still need to advocate for themselves more assertively, whether by taking a prime seat in a meeting, speaking up, or asking for the raise or promotion they deserve.

Advice for the Next Generation

So, what can the next generation of women in dealmaking do to thrive?

1. Be Yourself: Authenticity is key. Trying to conform to someone else’s mold is unsustainable and often counterproductive.

2. Speak Up: Don’t hesitate to voice your opinions or concerns. If something feels wrong, it likely is, and addressing it benefits not only you but others as well.

3. Support Each Other: Collaboration, not competition, among women is crucial. By lifting each other up, women can create a more inclusive and supportive workplace.

4. Build Resilience: Career paths, especially in demanding industries, are rarely linear. Embrace setbacks as learning opportunities and keep pushing forward.

5. Expand Your Network: Relationships are invaluable in any career. Attend events, seek out mentors, and build a network that will support you throughout your journey.