Money And Career Advice From The Financial Industry’s Most Powerful Women

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’s what some of the Most Powerful Women in Banking and Finance shared with me when it comes to money and career success.

Holly O’Neill: Start Early and Take Calculated Risks

Holly O’Neill, President of Retail Banking at Bank of America, highlights the importance of building financial habits early.

“Start saving early, set a budget and plan, and don’t spend money you don’t have,” she said. “Building a financial safety net takes effort, but developing positive habits more than pays for itself.”

O’Neill also advises stepping out of your comfort zone: “Be open to new and different experiences, even when they feel out of your comfort zone. Trust your abilities and embrace opportunities—they often lead to the greatest growth.”

For O’Neill, the most rewarding aspect of banking is creating solutions for clients.

Melissa Stevens: Build and Maintain Your Network

Melissa Stevens, Executive Vice President and Chief Marketing Officer at Fifth Third Bank, emphasizes the importance of staying connected.

“Build and maintain your network. Be curious and connected—you can learn so much from those around you,” she advised.

Megan Johnson: Recognize Your Strengths and Advocate For Yourself

Megan Johnson, Chief Marketing Officer at EverBank, encourages women to recognize their strengths.

“Knowing your value gives you the confidence to take on new opportunities,” she said, referencing the mantra, “Whether you think you can or you can’t—you are right.”

She also advocates for taking control of personal finances:

“Maximize 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,” she noted.

Beth Johnson: Focus on Long-Term Goals

Beth Johnson, Vice Chair and Chief Experience Officer at Citizens Financial Group, recommends focusing on long-term goals:

“Focus on your goals and allocate resources wisely. Don’t forget—it’s always worth investing in yourself,” she said.

To her younger self, she would say: “Take more chances. Don’t be afraid to challenge the status quo.”

Kate Danella: It’s Never Too Early Or Too Late To Plan

Kate Danella, Head of Consumer Banking at Regions Bank, encourages proactive financial planning at any life stage.

“It’s never too early or too late to plan for your financial future,” said Kate Danella. “No matter your stage of life, the time to prepare for your financial future is now,” she added, highlighting Regions Greenprint, a free service that provides personalized financial roadmaps.

Her advice? “Make financial choices today with tomorrow in mind, but remember—money is a tool for embracing life’s moments.”

Swati Bhatia: Discuss Finances Openly and Embrace Courage

Swatia Bhatia, Head of Retail Banking and Transformation at Santander Bank, believes in openly discussing finances.

“Money is not a taboo topic. Discuss it, plan for it, and let it work hard for you,” she said.

For young professionals, she advises embracing courage: “Failure is a better teacher than success.”

Stacy Hammond: Stay Curious and Ask Questions

Stacy Hammond, Managing Director and Chief Marketing Officer at Charles Schwab, stresses the importance of seeking knowledge and staying curious:

“Ask questions. Lots of them. When I first started working, I didn’t 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!

When the financial consultant asked me what kind of IRA and what I wanted to invest in, I didn’t even know the difference between choosing an account type and choosing the investment that I’d 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,” Hammond said.

She continued, “I’ve never stopped learning since then, and it’s a big part of why I’ve 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.”

Jennifer Halloran: Save Early and Surround Yourself with Experts

Jennifer Halloran CMO, Head of Marketing and Brand at Mass Mutual credits her upbringing for instilling strong financial habits.

“My parents were raised by the ‘depression era’ 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,” Halloran said.

Looking back, Halloran is grateful for those lessons. “Save, have dreams while living within your means, set goals, and surround yourself with people you trust who know more than you do,” she advised.

Halloran also highlighted the importance of working with a financial professional. “Research 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,” she shared.

Mallory Niemczyk: Prioritize Savings With the “Pay Yourself First” Approach

Mallory Niemczyk, Senior Director of Product and Strategy at Ally Bank, underscores the importance of saving:

“Transfer a portion of your paycheck to savings immediately, even if it’s small. It’s out of sight, out of mind, and it adds up over time,” she advised.

She also recommends embracing discomfort in professional growth: “Growth happens when you push yourself outside your comfort zone.”

Key Takeaways

• Start Early: Consistent saving and budgeting create a strong foundation for financial security.
• Network and Learn: Building relationships and asking questions pave the way for career growth.
• Embrace Innovation: Leaders stress the importance of adaptability and staying curious.
• Take Risks: Bold decisions often lead to the most rewarding opportunities.

These leaders demonstrate that financial and career success is more than numbers—it’s about empowerment, innovation, and creating opportunities for growth. Whether you’re starting your financial journey or looking to advance in your career, their advice is a valuable guide.