Thriving As A Woman In a Male-Dominated Industry: Karen Burhoe of Making Cents Count On The Five Things You Need To Thrive and Succeed as a Woman In a Male Dominated Industry
An Interview With Ming Zhao
The one thing you can do to gain acceptance in the financial industry is to have phenomenal results, which equates to big money. This was another reason why I chose the industry I did; there was never a decision-maker deciding how much money I would make. This was especially important to me being a woman, and needing to be in control of ‘me’.
In the United States in 2022, fields such as Aircraft piloting, Agriculture, Architecture, Construction, Finance, and Information technology, are still male-dominated industries. For a woman who is working in a male-dominated environment, what exactly does it take to thrive and succeed? In this interview series, we are talking to successful women who work in a Male-Dominated Industry who can share their stories and experiences about navigating work and life as strong women in a male-dominated industry. As a part of this series, we had the distinct pleasure of interviewing Karen Burhoe.
Karen Burhoe is the Founder + CEO of Making Cents Count and the Financial Success Society Membership. She has a BS in Management from Pepperdine University’s George L. Graziadio School of Business and Management, and held Advisor Series 7 and 63 Securities Licenses NASD FINRA. Having spent her career in the financial industry working with the largest insurance carriers in the nation, she is intimately acquainted with many aspects the financial and insurance sectors.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your childhood “backstory”?
It all started when I was born… [insert laugh here], I promise I won’t go that far back! I’m the youngest of 5 children and we had a lot of upheaval growing up. This entailed divorce(s), alcoholism, several moves, and money was tight. I knew early-on, this wouldn’t be my life as an adult.
Can you tell us the story about what led you to this particular career path?
As I mentioned, growing up money was tight, really tight. One of the things that still rings true in my ears today is my mother repeatedly saying, “We simply can’t afford it.”
I knew as an adult that if I wanted to make really great money, that I would have to go where the money was. Knowing myself, I wasn’t exactly “bank” material, so working within the constraints of one would never fly; I had to dig deeper. I was always fascinated with the securities industry, and the intricacies of it, and thought why not?!
Can you share the most interesting story that happened to you since you began your career?
One woman I worked with was the wife of a celebrity. She approached me in the beginning stages of a divorce. She was coming from a lifestyle of luxury, but she had been turning a blind eye to her financial situation. Her (soon-to-be-ex) husband wasn’t taking care of the bills and expenses; it was his business manager. This left her totally in the dark on the details, and she was basically thrown to the wolves.
We started at the very foundation of building up her finances. She realized after having everything done for her previously, she needed to become self-reliant. Not having control over her money or a solid handle on her financial picture was a very scary place for her to be. Together, we worked to get her on track.
You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?
Without a doubt: Integrity, Honesty + Confidence. In the financial industry, (well, in any industry), without a moral compass the human mind will justify anything. Regarding the confidence I have, I’ll attribute that to the way I was raised. When you’ve experienced instability as a child, as an adult, it made me believe there isn’t anything I can’t figure out, and where I’ll land on my feet.
Ok, thank you for that. Let’s now jump to the primary focus of our interview. Can you help articulate a few of the biggest obstacles or challenges you’ve had to overcome while working in a male-dominated industry?
The biggest obstacle was not being taken seriously as a peer, though I held the same credentials. I was passed up for management positions, and on multiple occasions my answers to questions asked in meetings would be ignored and redirected to others.
Can you share a few of the things you have done to gain acceptance among your male peers and the general work community? What did your female co-workers do? Can you share some stories or examples?
The one thing you can do to gain acceptance in the financial industry is to have phenomenal results, which equates to big money. This was another reason why I chose the industry I did; there was never a decision-maker deciding how much money I would make. This was especially important to me being a woman, and needing to be in control of ‘me’.
Female co-workers were few-and-far-between. We understood we were the anomaly within this industry (unless you were in a support-role), and we were there for each other. It could be a lonely existence and it was nice having someone who understood what you might be going through.
What do you think male-oriented organizations can do to enhance their recruiting efforts to attract more women?
I have been very fortunate to be involved with these types of efforts. The biggest take-away is to understand that women are often more thoughtful and strategic when it comes to investing, whether it’s for retirement or another purpose.
They’re concerned about securing their financial future, but they also want to know how many people they will benefit by investing. They want to know how they will care for their loved ones with their money. They understand how to foster growth because they’re natural nurturers — they can tuck away a nest egg and care for it until it’s ready to hatch.
And here’s the biggie: Don’t talk over them, don’t be condescending, and understand they are more than capable in understanding concepts beyond budgeting and shopping.
Ok thank you for all of that. Here is the main question of our interview. Based on your opinion and experience, what are the “Five Things You Need To Thrive and Succeed as a Woman In a Male-Dominated Industry?” (Please share a story or example for each.)
Be Real: Don’t be someone you’re not, the mask eventually falls off.
Don’t Take Anything Personally: It’s business.
Know Your Industry Inside-Out: You’ll become the source.
Take Risks: Say yes before you’re ready, you don’t want to miss out on a lost opportunity, and you’ll figure it out along the way.
Have a Sense of Humor: Laugh at the ridiculousness that surrounds you
If you had a close woman friend who came to you with a choice of entering a field that is male-dominated or female-dominated, what would you advise her? Would you advise a woman friend to start a career in a field or industry that’s traditionally been mostly men? Can you explain what you mean?
It would depend completely upon her personality-type. I have two close friends who are at complete opposite ends of the spectrum from one another. On the one side, I would suggest she consider a female-dominated industry versus a male-dominated. The reason is that I feel it would be more fitting for her, as well as for her long-term happiness.
On the other side of the spectrum, I wouldn’t hesitate suggesting that she start a business in the male-dominated industry. She’s a Commander in the Navy and knows what to expect, as well as how to handle any situation brought before her.
Have you seen things change for women working in male-dominated industries, over the past ten years? How do you anticipate that it might improve in the future? Can you please explain what you mean?
I have seen things steadily change, though it’s not happening fast enough. With women now retiring from these male-dominated industries, this is the time to tune-in and listen, not decide for them what they need.
We are very blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch with, and why? He or she might just see this if we tag them.
Hands down, Melissa McCarthy. She’s authentic, confident in the woman she is, and hilarious! What’s not to love?!
Thank you for these fantastic insights. We greatly appreciate the time you spent on this.
