Chartered Accountancy has long been a male-dominated profession. However, in recent years, there has been a significant increase in the number of women entering the field. The progress of women in Chartered Accountancy is a reflection of changing attitudes towards gender roles and the increasing recognition of the value that women bring to the profession. In this article, we will examine the progress and challenges faced by women in Chartered Accountancy.
The Progress of Women in Chartered Accountancy
Over the past few decades, there has been a noticeable shift in the demographics of the Chartered Accountancy profession. According to a study conducted by the Institute of Chartered Accountants in England and Wales (ICAEW), the percentage of female Chartered Accountants increased from 17% in 2005 to 34% in 2020. This increase is a reflection of the changing attitudes towards gender roles and the growing recognition of the value that women bring to the profession.
The increase in the number of women in Chartered Accountancy has also been reflected in the number of women in leadership positions. In 2020, 28% of Chartered Accountants in senior management positions were women, up from 16% in 2005. Furthermore, the percentage of women on boards of Chartered Accountancy firms has increased from 19% in 2015 to 25% in 2020.
One reason for this progress is the increasing number of initiatives aimed at promoting gender diversity in the profession. For example, the ICAEW established a Women in Leadership Community to provide support and networking opportunities for women in the profession. Similarly, the Chartered Accountants Worldwide Diversity and Inclusion Forum was established to promote diversity and inclusion in the profession.
The Challenges Faced by Women in Chartered Accountancy
Despite the progress that has been made, women in Chartered Accountancy still face significant challenges. One of the most significant challenges is the persistent gender pay gap. According to a study by the ICAEW, the gender pay gap in the profession is 20%, with men earning an average of £82,000 compared to £65,000 for women. This gap is even wider for those in senior management positions, where the gender pay gap is 27%.
Another challenge faced by women in Chartered Accountancy is the lack of flexible working arrangements. Many women in the profession struggle to balance work and family responsibilities, and the lack of flexible working arrangements can make it difficult for them to continue their careers. This issue is particularly acute in senior management positions, where long hours and high levels of responsibility make it difficult to balance work and family life.
Another challenge faced by women in Chartered Accountancy is the lack of female role models. Despite the increasing number of women in leadership positions, women in the profession still lack female role models who can provide guidance and support. This can make it difficult for women to navigate the profession and develop their careers.
Conclusion
The progress of women in Chartered Accountancy is a reflection of changing attitudes towards gender roles and the growing recognition of the value that women bring to the profession. However, women in the profession still face significant challenges, including the persistent gender pay gap, the lack of flexible working arrangements, and the lack of female role models. To address these challenges, it is essential to continue to promote gender diversity in the profession and to support initiatives that aim to address the gender pay gap and promote flexible working arrangements.
As the number of women in Chartered Accountancy continues to increase, it is clear that women will play an increasingly important role in shaping the future of the profession. By addressing the challenges faced by women.
