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While women have made great strides, they still face challenges in their everyday work environment. One of the biggest challenges that women face is achieving equal opportunities despite roadblocks such as the boys' club or the glass ceiling in terms of salaries and promotions. Additionally, women are often faced with exclusion from informal business networks, and suffer from gender-based stereotypes and a lack of role models.
Despite these issues, women are climbing to the top of the financial profession one step at a time. In fact, a recent report from the Bureau of Labor Statistics said that 62 percent of people who worked in the accounting field last year were women, and the American Institute of CPAs reports that half of its new membership is female.
Battling gender bias
While the majority of women working in finance are happy with their jobs, some still feel that discriminatory behaviors and practices exist. Catalyst, a nonprofit, research and advisory organization for women in business, recently surveyed 482 women and found that 65 percent feel that they have to work harder than men to get the same rewards, while 51 percent say that they get paid less than their male counterparts.
In December 2005, the AICPA reported that women are more likely than men to leave an organization to develop new skills or advance to a new level; however, they feel that they are less likely to be offered a higher salary in their new position.
Finance is known as traditionally male-dominated, and unfortunately, this mindset still exists in some circles today. The boys' club mentality shows that, there is still a reluctance to give a woman the same or appropriate opportunities given to a man. To combat this gender bias, companies have had to work hard to fight gender inequality and stereotyping.
Some measures include:
* Holding workshops and classes to teach equality. In an effort to combat gender discrimination and bias in the workplace, some companies hold regular workshops and classes to teach executives how to equalize decisions regarding males and females on the same level.
* Encouraging equal opportunities. There are many...