In celebration of International Women’s Day and Women’s History Month, I find myself reflecting on women’s advancement within the accounting industry. What was once a male-dominated industry has witnessed a notable shift over the past century, with women now comprising 62% of accounting professionals.
Despite these strides, women still face challenges in the industry. We must consider factors including gender diversity trends, challenges, and areas for growth—which I believe can help make the accounting industry a more inclusive environment where women can find equal opportunities and navigate their careers with confidence.
Reshaping Perceptions
Throughout my career in accounting, I have witnessed a surge in the number of women entering and staying in the profession. In the 1970s, women earned only 10% of the bachelor’s degrees in accounting. But in 2021, women earned over 60% of bachelor’s degrees in the field.
In recent years, there have been many notable changes across the workplace, including the rise in hybrid work and the power shift from employer to worker. I have also seen a decrease in the number of female graduates entering accounting jobs.
We are in danger of erasing the progress the industry has made in gender equity over the past several decades. This leads me to ask: Is the accounting industry losing its allure among women, especially at a more junior level?
As I consider this, I think back to what enticed me about the accounting industry early in my career. In an industry that can be misunderstood for its work—often being deemed a number-crunching profession—accountants must tell a compelling story about what makes their profession vibrant and attractive, especially to women who are just starting their careers.
To tell this story more effectively to rising professionals, we need to start by reshaping student perceptions about accounting. As a female leader in the industry, I recognize the value of having candid conversations with female high school and college students to dispel the stereotypes of the profession.
It’s important to highlight accounting’s expansive realm encompassing advisory, assurance, and consulting—accounting isn’t solely tied to preparing a tax return, as many people think.
While this evolution in how we perceive the workplace is true for accounting, it can be applied to all professions. Female leaders must use their voices to share their stories and experiences. The impact of reliability and storytelling is essential to fostering an environment of transparency and authenticity.
Additionally, improving strategies to attract more women into accounting requires a closer look at current recruitment strategies for diverse candidates. For example, recruiting from all-female universities or from those with a high number of female accounting graduates helps broaden the talent pool and can advance greater diversity within firms.
Empowering Growth
Another trend I have noticed throughout my career is the gender imbalance in leadership positions. Despite women dominating junior roles, their representation starts to taper off at the managerial and partner level, with women holding just 39% of partnership positions. This raises questions about existing support structures for women’s career progression and how the accounting profession can better cater to this demographic.
Achieving a balanced representation of men and women in leadership positions is crucial for our industry. Given the nature of the job—involving long hours and tedious tasks—incorporating a balance of emotional intelligence from leadership is key.
Studies on emotional intelligence in leadership show women score higher than men in areas of empathy and social relationships. These elements are imperative when building supportive work environments, especially during busy seasons.
Being able to work at a firm that embraces flexibility, nurtures growth, and provides support for women has been extremely valuable to me during my career. Recognizing the unique demands of women in the workforce, whether familial or educational, is essential to creating a workplace that accommodates these varying needs. There is no one-size-fits-all model, so embracing a non-uniform approach is key to adequately considering every woman’s situation.
To best nurture women’s career growth, I have found coaching and professional development opportunities vital. These programs are designed for individuals to receive insights and guidance that go beyond the day-to-day responsibilities, helping women become better leaders and more comfortably advance to senior leadership roles.
Mentorship and sponsorship also play a distinctive role in women’s careers, providing the support systems necessary to better navigate the complexities of their careers and the workplace. Mentorship opportunities facilitate two-way conversations, allowing individuals to receive professional and personalized guidance relevant to their careers.
Sponsorships are a valuable force for women, because they allow for advocacy in the absence of individuals. Typically, sponsors discuss individuals with their fellow colleagues, emphasizing their skills and work ethic regarding open projects and positions.
I am proud and excited about the progress women have made in the accounting profession. To continue the momentum and keep women excited and passionate about accounting, the industry needs to focus on telling compelling narratives, creating robust support systems, and embracing the unique value women bring to the job to truly foster a diverse workplace.
Drawing inspiration from the movie “The Audience,” which portrays the eagerness of prime ministers seeking an audience with Queen Elizabeth, I see clear parallels within our industry. Together, we should yearn for more “queens” in accounting—resilient, inspiring women who stand up, tell their stories, and become a driving force for the industry’s continued growth and gender inclusivity.
This article does not necessarily reflect the opinion of Bloomberg Industry Group, Inc., the publisher of Bloomberg Law and Bloomberg Tax, or its owners.
Author Information
Tifphani White-King is national tax practice leader for Mazars in the US. She is also a member of the Mazars global tax leadership team.
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