Women in Accounting: Practical Tips for Leadership Advancement

Once considered to be a male dominated profession, accounting has undergone a substantial demographic shift over the past few decades. According to the AICPA, women now comprise 62% of all accounting professionals. This is highly encouraging news. Data shows that women are now more frequently attaining senior leadership roles too, with 38% of partner roles held by female professionals.¹ This latter statistic, however, is one that causes a pause. While it does show important progress, it still signifies a slightly discouraging picture that highlights the persistent gender gap for women in accounting wanting to take on leadership roles.

The accounting profession has championed the growth of women working both in public accounting firms and in industry from a diversity and inclusion perspective. Beyond this top-down approach, however, there are steps that women themselves can take to personally advance their accounting careers. This feature identifies several critical areas of self-development on which other successful women in accounting have focused and that have played a key role in growing their careers. As you review these tips, recognize that it is near impossible to embrace them all at once. Perhaps start with areas where you may have made some strides and can make the most impact. Then consider additional actions as your career unfolds and what is most appropriate for you.

Prioritize Education

Knowledge is the foundation of a successful accounting career for both men and women. The baseline for anyone interested in pursuing a career in accounting is a bachelor’s degree in accounting or a related field. To secure a future leadership position in the field, further educational steps can be taken to prioritize your pedigree, such as obtaining a CPA license, master’s or juris doctor degrees, or other certifications. If peers who may be competing for the same position are not taking these extra steps, you will have an excellent opportunity to elevate and differentiate yourself from the pack. Aside from displaying the ability to begin and complete a difficult task, credentials send a message to staff, leadership, and clients that you have proven knowledge and understanding of many crucial business essentials:

• Accounting principles – taxation, accrual accounting, financial statements preparation, auditing, financial analysis, and more.
• Legal and regulatory principles – tax codes, financial reporting standards, and auditing requirements crucial to identifying and avoiding legal and financial complications.
• Technology uses and adoption – software tools for tax automation, financial analysis, data management, and reporting, and the ability to find innovative ways to be effective.

Education is expensive. It can place a heavy financial burden on students who may already struggle with undergraduate student loans. However, obtaining advanced degrees and CPA licensure are often reimbursed or incentivized by employers upon completion or if maintaining a certain minimum GPA. Some employers may have education or licensure requirements to be considered a candidate for certain leadership or managerial positions, which can put additional pressure on those looking to move up the corporate ladder. Aside from tuition reimbursement, many organizations offer scholarships and grants specifically for women pursuing accounting degrees.²

Advocate for Yourself and Your Brand

The creation of a personal brand is essential for anyone seeking to advance their career, especially in an environment where less formal attire and practices have become normalized. Maintaining a professional appearance and choosing a wardrobe that boosts your confidence while in an office setting can help you look the part for roles you aspire to achieve. Remote and hybrid work are now commonplace in corporate America. If you take advantage of this offering, be sure to turn your camera on for internal and external-facing meetings to keep the face of your brand visible to colleagues and connect on a more personal level.

To build a strong professional brand, identify and clearly communicate your unique strengths, skills, and areas of expertise. This involves self-reflection and self-awareness to determine what sets you apart from others in your field. Once strengths are identified, craft a personal narrative that highlights your accomplishments, experiences, and the value that you bring to your organization and industry.

You may be familiar with the phrase, “Be your No. 1 fan.” This outlook holds true in your career. Too often, women give more credit to male teammates for group work and take less credit for themselves. Being able to advocate for yourself and display the value you bring to your organization is essential to career development. Be proactive in seeking opportunities that showcase your skills and contributions. This includes volunteering for high-visibility projects, actively participating in meetings, offering expertise and insights, and publishing in relevant internal company communications and external industry journals.

Perhaps most importantly, clearly communicate with existing leadership that you are cultivating a career path that will ultimately culminate with a leadership role. Ask what steps you should take to be recognized as a strong candidate when leadership opportunities become available. Set clear goals with supervisors and mentors, and seek constructive feedback to drive both personal and professional growth. Research industry salary standards and benchmarks for the role and experience level so you can negotiate fair compensation and benefits for the job at hand.

Increase Your Visibility within Your Organization

The shift to remote and hybrid working environments has drastically changed the workplace across all sectors. A 2022 McKinsey study shows that the option to work remotely is especially important to women, with only one in 10 women preferring to work mostly on-site.³

That said, it is crucial for business leaders to maintain a physical and visual presence within their organizations. This presence sends a message about a leader’s commitment to the organization and its employees. Visibility and showing success is important. Here are five ways that you can increase your visibility within your organization:

• Actively participate – Increase your visibility by actively engaging in meetings, discussions, and projects. Offer insights, ask questions, and proactively volunteer to take on leadership roles in high-impact initiatives that showcase your expertise and contributions.
• Seek out mentors and sponsors – Having a mentor and sponsor within your organization is invaluable. Mentors provide guidance and advice, while sponsors advocate for women in leadership and create opportunities for them to succeed.
• Build a strong professional network internally – Building a supportive internal network requires more than mandatory meeting attendance. Attend company social events, work in the office regularly if in proximity to you, join professional associations and meetings with your colleagues, and participate in available community and philanthropic endeavors sponsored by your organization.
• Sponsor new initiatives within your organization – If you see a gap in your organization, in areas such as professional development offerings, networking opportunities, or community outreach, promote yourself and your leadership abilities by offering to initiate and head a committee that fills that need.
• Make your voice heard – While humility is important, do not shy away from some self-promotion. Share your achievements, accomplishments, and thought leadership through internal communication channels and social media. Be straightforward about sharing your insights, and don’t be afraid to hear the word “no.” There will be other opportunities. Equally as important, don’t be afraid to say “no.” Being agreeable to ideas or tasks when there are better alternatives just to avoid perceived conflict is not the answer. Learning to say “no” in a confident, respectful, and professional manner doesn’t necessarily shut down an idea, but it can open the door to new ones.

Participate in Professional Associations

Professional associations offer a plethora of networking, personal enrichment, and business growth opportunities. Here are just a few reasons to join professional associations:

• Professional development – Professional and trade organizations offer connections with others in your field and raise the profile of your personal brand by showing your commitment to your profession’s advancement.
• Acquiring new customers and talent for your firm – Accounting leaders are committed to growing their firms and ensuring that they have the right talent to successfully complete their work. Present yourself as a resource at association meetings, with the intent of building connections that can help your firm become the service provider of choice for clients and prospects, and the employer of choice for talent in a tight job market.

Expand your relationships by joining a young professionals network, college alumni group, industry forums, your state CPA society (such as the PICPA), or a local chapter of a professional association such as the Tax Executives Institute or another association that fits with your role or business focus. Get more involved by volunteering on a committee, task force, charitable organization, or even an organization’s board of directors. If you have clients, learn which professional organizations they are involved with and consider joining one of those as well. You can also build business relationships by joining groups where the business community gathers, such as local Chambers of Commerce. Be sure to rehearse your organization’s value proposition (often called a 30-second commercial) ahead of networking events so you can quickly convey what you do and who you serve, which can open the door to effectively building relationships based on your expertise.

Champion Women

Recruiting women into accounting involves a multifaceted approach. First, seek out diverse talent pools, including women, through your relationships with professional associations, colleges and universities, and online professional forums. Attend women-focused career events where talent will be present.

Also, promote diversity within your recruitment strategies, offering flexible work arrangements where possible and publicly promoting your firm’s culture of inclusivity and advancement. While the roles of women in the workplace have increased significantly, their duties at home have often remained the same. That can put a tremendous strain on work-life balance needs.

As an aspiring woman leader within your organization, you can play a pivotal role in recruitment by serving as a role model and advocate and by participating in interview panels to ensure that diverse candidates receive fair consideration.

Align Yourself with DEI Initiatives

As women strive to secure more leadership roles, you will find a powerful ally in the company’s diversity, equity, and inclusion (DEI) committee. If your employer does not have a DEI committee, start one! Women bring unique perspectives to DEI efforts, as they have often faced gender-related challenges.

By actively engaging in your company’s DEI initiatives, you can champion positive change and ensure that the workplace is more inclusive and equitable for all employees. This involvement not only fosters a kinship with other women within the organization, but also allows you to set an example for others, signaling the company’s commitment to fairness and opportunity. In addition, as a DEI leader, you can use your influence to advocate for new policies, mentorship programs, and leadership development opportunities that further advance the careers of women and underrepresented groups, ultimately leading to a more diverse, welcoming, and successful organization.

The accounting profession offers more opportunities than it ever has for women to excel. Continued advancement requires a combination of education, personal brand development, self-advocacy, visibility, active participation within your company and industry, the championing of other women in your company and field, and a commitment to advancing the progress of others. You don’t need to take each of these steps simultaneously. Embrace them as part of a collective journey that will not only help you secure your own role as an accounting leader, but will also provide a blueprint for future women leaders in accounting to follow. 

¹ Isaac M. O’Bannon, “AICPA and CPA Practice Advisor Announce the 2023 ‘Most Powerful Women in Accounting,’” CPA Practice Advisor (June 6, 2023).
² Terrisha Buckley, “Available Scholarships for Women in Accounting,” Accounting.com (Sept. 29, 2022).
³ Emily Field, Alexis Krivkovich, Sandra Kügele, Nicole Robinson, and Lareina Yee, “Women in the Workplace 2023,” McKinsey & Company (Oct. 5, 2023).

Christine A. Funkhouser, CPA, is managing director and chief revenue officer with Global Tax Management Inc. in Wayne. She can be reached at cfunkhouser@gtmtax.com.

Gergana Lipidakova, CPA, is a director in the federal tax group at Global Tax Management in Wayne. She can be reached at glipidakova@gtmtax.com.

A special thanks to all the women at Global Tax Management who contributed their ideas to this article.