Mastercard survey finds that 58% of women in the UK feel financially empowered

March 8, 2024

58% of women in the UK feel financially empowered1 and in control of their money, according to a Mastercard survey to mark International Women’s Day.   

Women who participated in the survey said that financial empowerment meant “not having a negative feeling” when checking their bank balance (35%), being able to spend more time with family (31%), not “thinking twice about enjoying experiences that matter to them” (29%) and being able to help friends and family financially (23%). 

The survey also highlighted some obstacles to financial empowerment: 

  • Only 30% of respondents said their workplace have supportive policies such as equal pay and favourable pension policies in place.  
  • 21% of respondents said they feel the gender pay gap holds back their financial empowerment. 
  • A quarter said they felt confident in their understanding of investments and 32% in their understanding of pensions.  

Social media is a growing source of advice: 

  • 25% said they had turned to social media for guidance on personal finance matters.  
  • 60% rated social media as an effective source of financial education. 
  • 12% said they had turned to online courses and webinars to boost their financial knowledge, with 66% finding them effective.

“There is clearly much more to be done to make sure women are, and feel, empowered financially,” said Kelly Devine, UK and Ireland President at Mastercard. “At Mastercard, we’re focused on designing a better world for women within our workplace and wider society. This includes ensuring equal pay, expanding opportunities for female employees, supporting small business owners and startups, and inspiring STEM careers for young girls.” 
Gender equality is at the heart of Mastercard’s business and a key component of its Diversity, Equality and Inclusion policies. Globally, women at Mastercard earn $1.00 to every $1.00 earned by men based on employees at the same level, doing the same work. 
Mastercard is also a long-standing supporter of female entrepreneurship. The company has supported 650,000 female entrepreneurs in the UK since launching its Strive programme in the UK in 2021. The programme offers advice, workshops, and mentoring opportunities to help entrepreneurs succeed in the digital economy. 
The company also runs an innovative Girls4Tech programme, which inspires girls around the world to build STEM skills and help them become the leaders of tomorrow. Girls4Tech has reached almost 6 million girls globally.