Why Accounting, Finance Can be Ideal Careers for Women

 

Women searching for a career or looking to make a change might be well-served if they consider accounting or finance. Why? Such a career affords a better balance between a career and personal life. That’s one of the conclusions from a 2011 study by a recruiting firm, Mergis.

“It is encouraging to the profession to note that both men and women are highly likely to recommend the profession to others,” says Patricia Dinunzio, the Mergis regional managing director. “But, that said, one of the greatest take-aways from this survey is that there is a clear need for accounting and finance mentorship programs.”

About 66 percent of surveyed men and women think success in accounting and finance is achieved by getting a mentor, but only 31 percent of men and 28 percent of women have ever had a mentor.

Eighty-six percent of men and 80 percent of women say they’d advise relatives to pursue such a career. Moreover, for young women, 88 percent of men and 86 percent of women say the career would be advantageous.

More Mergis results:

Best Practices for Encouraging Young Women to Enter the Field

• More than half of women (61 percent) and men (55 percent) believe there is a need for greater promotion of accounting and finance as a career choice for women.
• Half of the women and men surveyed claim greater mentoring programs would help.
• Thirty-five percent of women and 26 percent of men feel greater education programs about the field are necessary to pique interest.
• Greater availability of scholarship grants would also be an incentive to further promote the career, say 34 percent of women, while only 13 percent of men polled feel that to be the case.

Most Important Factors Leading to Personal Career Success in Finance and Accounting

• About half of both men (48 percent) and women (51 percent) rate accounting and finance skills and expertise as the top factor to success.
• Relationship building and personal networking came in second according to 41 percent of women and 39 percent of men.
• Forty-one percent of men believe that developing management skills is a priority as compared to only 22 percent of women who do.
• Approximately one-third of men (37 percent) and women (34 percent) claim gaining accounting and finance experience is critical to personal success.

Less Than Half (48 Percent) Of Women in Accounting & Finance Satisfied With Their Careers

• Women are less satisfied with the progression of their accounting and finance careers than men. Specifically, 59 percent of male workers in accounting and finance consider themselves to be satisfied, as opposed to 48 percent of women.
• Women in accounting and finance ranked being challenged (35 percent), compensation (27 percent) and flexibility (12 percent) as the most important factors to satisfaction in their career.
• On the other hand, men in accounting and finance ranked compensation (35 percent), being challenged (29 percent) and flexibility (12 percent) as the most important factors to satisfaction in their career.

See the complete survey results and methodology.

As a result of the economy, it’s true that many accounting firms are working overtime to make their numbers. But the survey caught my eye because I’ve long believed detail-minded professionals who are good with numbers and undecided about their careers should consider a career in accounting or finance. There will always be a demand for such skills in the public and private sectors.

From the Coach’s Corner, do you need a career change? Here are 10 steps for a career makeover. Are you job hunting? Tips to land your dream job with style, substance.

“Only accountants can save the world! – through peace, goodwill and reconciliations.”

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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.