Women of Color in Accounting: Women of Color in Professional Services Series
With women and people of color receiving certification in accounting and joining the accounting industry at an increasing rate, firms are faced with the job of creating more inclusive environments in a traditionally white, male-dominated, “up-or-out” culture. Although a certain amount of attrition is built into the business model for professional services firms, to stay competitive, accounting firms can no longer afford high turnover among talented professionals whom they train only to become regretted losses.
Impetus: This report continues Catalyst’s investigation of the experiences of women of color in professional services firms, which are characterized by a client-service focus and firmly entrenched “old boys’” networks. For the first time, Catalyst is able to benchmark the experiences of women of color against other demographic groups in the workforce. This examination lets us understand better the “intersectionality” that women of color experience: that is, how a person’s different attributes and characteristics interact with one another and inform personal and professional identities, experiences, and expectations about privilege and disadvantage in the workplace.
Methodology: This study consisted of both qualitative (interviews and focus groups) and quantitative (survey) data collection. We conducted six interviews with senior partners and nine focus groups of professional employees at participating firms. For the quantitative portion of the study, a web survey was distributed to a sample of employees at some of the 20 largest (by revenue) accounting firms in the United States. One-half of the firms in the sample were from the top four accounting firms and the remainder came from the rest of the top 20. Participating organizations fielded the survey between December 2006 and May 2007. The survey was sent to a total of 3,918 individuals, and 1,424 of them responded, for an overall response rate of 36.3 percent.
Findings: Women of color had more in common with men of color than with white women in their attitudes regarding exclusivity of the work environment and their perceptions that practices intended to support inclusion were not as effective as they could be. There were a few areas in which women of color and white women had similar experiences and perceptions, such as perceiving some level of social exclusion from the “old boys’” network and a lack of support from firms for their family responsibilities.
Most importantly, women of color experienced “intersectionality” in that they faced many barriers to a greater extent than did white women or men of color. Many of these barriers relate to difficulty in navigating a client-based environment, and include lack of similar role models, stereotyping, a greater level of exclusion from networks, and difficulty in accessing high-visibility assignments and business development opportunities.
Lead Sponsor: Ernst & Young
Contributing Sponsors: Deloitte & Touche; KPMG; PricewaterhouseCoopers LLP
Price: $40.00