More women in financial journalism can help break gender shackles

It was 1993. Economic reporters in Bangladesh decided to form a forum to strengthen collaboration and hone their financial reporting skills. They encountered a peculiar but significant hurdle: not a single female reporter covering the economic affairs was then available to join the initiative.
Now over the past three decades, only 19 women have become members of the prestigious Economic Reporters Forum (ERF) out of its 241 members.
While the recent election of Sharmeen Rinvy as the first female president in 2021 marks a positive development, it is important to acknowledge that these numbers paint a stark picture, reflecting the broader underrepresentation of women in Bangladeshi journalism.
Looking beyond the ERF, it becomes evident that this dismal presence extends beyond the forum's membership. Though Roula Khalaf, editor of the British daily business newspaper Financial Times since 1995 and its first female editor in its 131-year history, serves as an inspiration, the reality in Bangladesh is far from such progress.
Financial journalism, irrespective of gender, requires a solid understanding of financial concepts, jargon and economic fundamentals. This knowledge is essential for covering business and trade events, writing impactful articles and conducting insightful interviews with industry experts.
Storytelling will not be attractive unless the reporter is clear about the issue. As American journalist Matthew Colin Taibbi aptly said, business journalism thrives on investigative reporting, exposing wrongdoing and holding those in power accountable.
In Bangladesh's case, a major obstacle emerges when considering women in this field: a high drop-out rate before acquiring the necessary skills through hands-on experience.
While the late 1990s saw a surge in women entering journalism due to the expansion of broadcast media, their presence remains concentrated in desk jobs or news presentations, with field reporting largely lagging.
One question certainly arises: what factors are deterring women journalists from pursuing careers in financial reporting?
Grooming up freshers goes missing
A business journalist must know the money trailing techniques, as Financial Columnist and American Journalist for the New York Times Andrew Ross Sorkin once said, "Business journalism is about telling the story of money, where it comes from and where it goes, and why it matters."
Skilled business journalists must delve into the complexities of finance and economics to effectively communicate these stories.
In Bangladesh, women journalists hardly get assignments to cover major economic events. Although women in the sector are naturally resilient and willing to take on challenging tasks, a lack of targeted training for fresh female graduates disadvantages them.
In general, limited funding often restricts many media houses from investing in comprehensive training programmes for their journalists, leading to a cycle of under-preparedness. While some seasonal training initiatives such as the national budget, elections or disasters exist, they are typically focused on specific events and lack long-term impact.
The lack of experienced women mentors and role models further erodes the confidence of aspiring female journalists. Senior journalists, whether through gatekeeping practices or by offering guidance and consultations, can inadvertently contribute to this issue.
This is evident in the case of Rehnuma Khatun (pseudonym). Upon joining a financial daily, she was puzzled initially after encountering tricky economic terms. With no clearly defined responsibilities and a specific newsbeat, she was left to navigate various economic sectors, including tax, energy, banking and agriculture. Sadly, many of her peers who initially joined her on this journey eventually left the field within a decade.
"Now I write on fiscal policies - an area rarely explored by women journalists. This field is fascinating and relevant to everyone, regardless of gender," now says a confident Rehnuma. She also acknowledges that "a fear factor or lack of confidence" deters many women journalists from venturing into areas like macroeconomics.
"Developing skills and acquiring financial literacy is key to economic reporting which a journalist can adapt with only efforts and dedication," she said.
Newsrooms must have confidence in their women reporters to assign them to economic reporting and covering micro and macroeconomic issues.
Pervasive gender bias
Prity Das, a finance graduate, began her career five years ago as a news reporter for a Bengali newspaper in Dhaka. After six years, she switched to a non-governmental organisation due mainly to discrimination in news assignments, irregular and low pay, and precarious job security.
"It was my dream job to be a journalist, and I had a deep interest in financial journalism," Das told The Financial Express. "However, I found that my male colleagues were assigned to cover business and trade issues, while I was primarily assigned to beats like women, children and fashion."
Ms Das's experience is unfortunately not unique in the local news industry.
The under-representation of women in covering major economic events, like the national budget, emerges from a lack of confidence among newsroom leaders in assigning these stories to female journalists. This creates an unfair double standard, where women must constantly prove themselves, while such doubts are rarely raised about their male counterparts.
While some women journalists may choose to focus on other beats for various reasons, it is crucial to encourage and support their participation in economic and business reporting as well. Regardless of beat, a solid foundation in financial literacy is essential for all journalists. This knowledge allows them to better understand complex economic issues and provide valuable insights to their audience.
Dedication and passion key to success
Dedication and passion are key ingredients for success in any field, including journalism. In the context of Bangladesh, where women journalists face additional challenges, these qualities become even more critical.
Young female footballers clinching the SAFF Championship, mountaineer Nishat Mazumder conquering Everest and journalist Rozina Islam filing serious investigative stories to the lead on a reputed national daily demonstrate that breaking through barriers is possible with unwavering dedication and passion.
When Rozina Islam, released on bail after a week in prison, declared her unwavering commitment to journalism, holding her nine-year-old daughter tight, it was a powerful example of both dedication and courage. Even in the face of alleged torture, she held onto her passion for journalism.
Overcoming challenges in the digital age
In the digital age, groundbreaking investigative journalism cannot be easily suppressed. The virtual world and social media act as powerful platforms for amplifying important stories.
This means that even if discrimination exists within a newsroom, talented women journalists have the potential to overcome it by creating impactful work that gains recognition beyond those limitations.
A journalist's well-researched and insightful piece remains their own creation, regardless of the news organisation it appears in. There is no substitute for developing the skills, practice and dedication required for successful financial journalism. To truly break through barriers, women journalists must actively pursue their unique paths and hone their craft.
Specialisation and networking
Within the vast landscape of financial and economic issues, especially in an era of trade liberalisation, specialisation can be a valuable strategy for women journalists. While remaining open to other areas, developing deep reporting skills in a particular area like financial institutions, banking or public finance can allow them to become experts and potential mentors to others, regardless of gender. This journey requires dedicated study, research and building networks with industry insiders to gain a comprehensive understanding before writing on the topic.
Addressing the sustainability challenge
Across various professions, women are disproportionately affected by career dropout rates. A recent Bangladesh Bureau of Statistics (BBS) report shows a significant drop in female workforce participation, reaching 41.72 per cent in the last quarter (October-December) 2023.
While there is no dedicated study on the dropout rate specifically among female journalists, research suggests that women in this field often leave the profession or opt for desk jobs at an early stage due to various pressures, including social expectations, work environment, family responsibilities and different forms of discrimination.
This discontinuity in their careers is a major factor obstructing a stronger presence of women in financial journalism. Besides, sexual harassment in newsrooms is often blamed as a significant contributor to this issue, alongside inequalities in wages and career progress opportunities.
Embracing technology
In today's rapidly evolving media landscape, mastering digital tools and artificial intelligence for financial analysis has become essential. By developing strong digital skills, women journalists can leverage technology to present complex data in a clear and engaging manner.
Data journalism, a crucial aspect of financial and business reporting, requires the ability to analyse economic data, identify underlying issues and conduct investigations based on findings.
Tools like Google Sheets, Microsoft Excel and others can simplify the data analysis process. Thankfully, formal training is not always necessary; online platforms like Google, YouTube and ChatGPT offer valuable resources for self-directed learning.
Balancing work and family
Social and workplace support are vital for women to achieve work-life balance. This includes access to maternity leave, breastfeeding facilities and hygienic washrooms.
Unfortunately, many women in Bangladesh, particularly journalists, encounter career disruptions thanks to a lack of both family and social support. There are no specific office hours, it is a 24/7 job. A journalist cannot close their door anytime they want.
The positive thing is that, unlike some other reporting beats, financial journalism offers a degree of flexibility in managing workloads.
Due to the analytical nature of the work, tasks like loss estimation or market analysis often require research and cannot be completed instantly. This allows women journalists to potentially strike a better balance between professional and personal responsibilities compared to other fields within journalism.
The digital world presents further opportunities for women in journalism. The growing popularity of virtual work arrangements can help women save time and costs associated with traditional office commutes, allowing them to dedicate more time to their families.
Lastly, dictionary.com has the term 'newswoman' which is outdated and gender-biased. A journalist is known for news and storytelling techniques. News has no gender. Given the huge gender disparity in journalism, it is a duty of society to build a path for women to come and continue journalism, and add value to the economy until the inequality resolves. For economic reporting, women must have a zeal to work hard. Women journalists need to build strong networks with peers to raise voices unitedly against discrimination.

Doulot Akter Mala is a Special Correspondent at The Financial Express
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