Why Balance Matters at the Top

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Over the past couple of months I’ve been doing some research to find out a few facts to put on the table for us to consider.  And what I know is that Aotearoa has no shortage of talent within accounting and finance (men and women alike). Yet, when you look at who holds the most senior seats in Aotearoa, the imbalance is obvious. A quick look at LinkedIn data for senior finance roles shows female representation declines with seniority:

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• Finance Manager – 59% women / 41% men
• Financial Controller – 52% women / 48% men
• Head of Finance – 43% women / 57% men
• Finance Director – 40% women / 60% men
• CFO – 30% women / 70% men

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This drop-off is striking when you consider Chartered Accountants Australia and New Zealand (CA ANZ) New Zealand membership is 52% female and 48% male. So why the decline as roles become more senior? This is the million-dollar question.  My thoughts are that it’s probably a mixture of these things.

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• Career breaks – women are more likely to be out of the workforce for a period of time when having a family and can struggle to re-enter anywhere near the level they were prior, and more often than not have to take a backward step.

• Cultural norms/Flexibility - I also think there’s still a cultural norm that senior leaders are “always on.” Women (and men) who seek flexibility at the top can face unspoken barriers.

• Mentoring opportunities – Women are less likely to apply for roles unless they feel 100% qualified, whereas men often back themselves without the need to feel they tick every box. This makes mentorship even more critical.

• How potential is recognised and pathways to promotion are shaped within organisations - How organisations identify potential and shape career progression often favours those who are visible, vocal, and uninterrupted — which can disadvantage women.’

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This point was reinforced for me at the 2025 CFO Summit Awards Dinner in Auckland last night, where CA ANZ’s GM for NZ Regions, Charlotte Evett, highlighted the absence of female representatives in the Emerging Leader category (which CA ANZ sponsored and she presented). She urged the audience to think about the wāhine in their organisations and to ensure they are mentored, supported, and nominated when the potential is there. It was a timely reminder that recognition and visibility don’t happen by accident, they need champions. Encouragingly, I overheard plenty of conversations after Charlotte’s speech that showed her message was fully supported.

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The good news is the pipeline looks strong! CA ANZ reports significantly more women entering as Provisional Members than men. That creates a genuine opportunity for change in the future of our industry.

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Why Diverse Leadership Matters

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This isn’t a “female versus male issue” — it’s a really positive business opportunity. Closing the gap means more talent at the table, stronger leadership pipelines, and better results for everyone.

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Research consistently backs this up. McKinsey’s Diversity Wins report and other global studies show organisations with gender-diverse executive teams are more likely to outperform financially. Diverse leadership brings broader perspectives, reduces groupthink, and drives better decisions.

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In finance, where risk assessment, compliance, and long-term planning are critical, leaders who reflect a range of experiences can directly strengthen resilience and performance. Gender balance also sends a clear message to emerging talent: leadership is possible for everyone.

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The Gender Pay Gap Challenge

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Having just read the latest CA ANZ remuneration survey I notice the numbers remain stubborn. It really highlighted the profession’s gender pay gap (survey completed by 8000 members).  For instance, in Australia men are paid 18% more than women and 22% higher here in Aotearoa!  The story is similar when you look at organisations with an equity partnership structure. In those environments women hold only 23% of partner roles in Australia and 38% here in Aotearoa.

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The survey also showed that members are calling for change.  55% of respondents who acknowledged the gap, also called for more women in senior leadership roles, and nearly as many highlighted a need for greater pay transparency.

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I was really encouraged to learn that CA ANZ has partnered with the Ministry for Women to address this issue, offering resources like a pay gap calculator tool to help organisations measure and act. Using and sharing these tools is a practical way to move from awareness to action. https://www.women.govt.nz/gender-pay-gaps/gender-pay-gap-toolkit

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The Way Forward

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So how do we shift the dial?  Do we challenge organisations to track and share gender data by seniority?  Do we create leadership pathways that align with flexibility?  Can we hold organisations more accountable when it comes to having a plan in place to identify high potential wāhine and ensure appropriate mentorship is provided to those individuals.

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The aim isn’t to take opportunities away from men.  It’s to make sure every talented professional has an equal shot at the top. With more women entering the CA pipeline, continued advocacy on pay equity, and greater awareness from members themselves, the accounting and finance sector in New Zealand has the chance to finally balance the scales.

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Where does your organisation sit with this topic?  Do you know of anyone doing things well when it comes to shifting the dial? I’d love to hear from you!

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I’m confident there’s loads of stuff we can do and are already doing. In the meantime here at Cultivate we are going to keep plugging away at it, staying informed and shining a light!

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