Originally published on Forbes.com July 29th, 2013
Now that I am doing a third post on the subject, maybe I can call it a series on why women are underrepresented in the high places of public accounting. In the last installment we heard from Diane Gilabert, who is of the Sheryl Sandberg “Lean In” school. The big firms want women to advance. Women just need to listen, make the right moves and lean in.
Observations like Diane Gilabert’s are interesting. She has proof, in her own success(partner in PwC) that what she says is or can be true. On the other hand, the fact that some people can scale structural barriers does not mean that the barriers are unreal. My own suggestion or, perhaps more accurately thought experiment, is a few score women, – senior managers, directors, income partner, principals (All the various names the public accounting industry comes up for the people they hope to keep without admitting to the inner circle) – start a firm, which, I believe, would transform the industry. My friend Linda Smith, whom I discussed in the first installment, founded a small firm that hints at the possibilities.
I ran this by a friend of mine with a rather interesting perspective. Besides, herself having had a career in public accounting starting around the time of the Women’s Year”(That was 1975 in case you weren’t paying attention), she is the mother of a second generation woman CPA. My friend prefers anonymity and asks that I refer to her as Viola Fuss.
Viola Fuss Tells Her Story
Your idea re massive walkouts and a women’s firm is the correct bold idea. It is about time and I will tell you why with a personal anecdote. I will give you more details than you need (or asked for) for “flavor”.
When I got my undergraduate degree I was full of myself. I had straight A’s, president of Beta Alpha Psi, Beta Gamma Sigma, Summa cum Laude, etc. etc.. My father was a great influence in my life and had convinced me I could go where no other woman had before. I was the only one in my family to have “wanderlust”. Therefore, off I went to interview with the Big 8 in San Francisco. Only to learn that my “meek and mild” southern upbringing was not well suited to dazzling the powers that be at one of the most popular locations in the states. No job offer.
I returned to school went for my graduate degree and was a teaching assistant. In addition, I was MAD, so I got tougher and when I interviewed with the Big 8 next time around, I was ready. Got four offers. Slogged it out, played the game, wore the suits, etc. etc. Served on AICPA technical standards setting committees, became a “geek” in QC – financial reporting and auditing.
Went through all the discussions of “work/life” balance. Went through all the discussions of how to promote women in the profession. Almost did not have a child because of the hours.
My daughter goes off to college in fall of 2004 as a psychology major. Had never shown any interest in my job and thought it was boring. I never pushed it. Figured she had to find her own way. Second semester, she changes to business major. Third semester, she takes first accounting class and calls to say “Mom, I LOVE accounting!” WTF!
Goes on to be Valedictorian of her class, President of BAP, Beta Gamma Sigma, ya-da, ya-da….. Gets five offers with the Big firms. Steams through CPA exam. Is now an early-promoted audit manager. In other words, she is fulfilling my youthful ambition. Our conversations are amazing because I can so totally identify with where she is, psychologically wise that is, compared to where I was at the same age. Big difference is that she is much smarter and harder working than I ever was.
Why do I tell you all this? Because the BAD NEWS is that the problems for women in the profession have barely budged from when I started in 1976. Yes, we can handle coed out of town travel. And some women have learned to become total bitches and make it in a man’s world. But, that’s about the extent of the progress and that is very hard to acknowledge. My daughter is beside herself that her partner on her current audit says “good night” to her kids via Skype every night.
She wants to start a family, but not under those conditions. The needle on the work/life balance issues has barely moved since I started in 1976. She has the same feedback about the profession as I did then. Despite all the “women’s initiatives “ programs and “leaders” at the big firms (only they can afford it) the needle has barely moved. I really expected that she would be in a far different environment than I was. In fact, it is only “slightly” different.
As a feminist from the 60’s (and to this day), I now have to admit there are basic man/woman differences. I used to think it was all due to educational flaws. From that point of view, I do believe that Sheryl Sandberg has a point. But, it is not the main point. If we follow her recommendations, we are just submitting to the same old paradigm. She would have us totally conform to the traditional male business style. What is wrong with the other sex meeting us in the middle? However, that will never happen. You know it (not that you are one of the slackers) and, therefore, I totally agree with your conclusion. Let’s get that women’s firm off the ground. Where to start? I am too old, but it needs to happen.
Sorry to go on for so long, but was very happy you asked. In short, you interviewed the wrong woman and gave her way too much credit.
Afternote
Diane Gilabert did predict that some people would not like her answer, so Viola’s reaction is not surprising. I think there are ways in which they are both right. That is why the idea of a fairly large scale woman run firm intrigues so much. I think it would have a significant edge in the high net worth family office space, since when boomers become matriarchs, they are less likely to favor male advisors than previous generations. Of course CPAs don’t have a lock on that market where there is significant competition among various disciplines for the “trusted advisor” role.
You can follow me on twitter @peterreillycpa.
Woman CPA Sees Little Progress In A Generation
