Women in finance leadership face a complex path to senior roles, but the setting is shifting. Bhavna Doegar, the Principal Accounting Officer at Kyndryl, discusses the progress made and the work still required to build inclusive teams in a conversation with Smita Singh for HR TODAY.
Doegar notes that the number of women entering the field has grown substantially since she started her career. At her business school in 1999, women made up just 15% of the class, with finance majors being even fewer. Today, over 50% of college graduates entering corporate finance roles are women.
Changing demographics in corporate finance
This growth is reflected at the executive level as well. The percentage of Fortune 500 companies with a female Chief Financial Officer has risen from 5% in the year 2000 to 18% today. Doegar points to the technology sector as a particularly strong area for women in finance. According to the Grant Thornton Women in Business Report, technology is the best sector for women to advance their finance careers, with 47% of mid-market tech companies having women CFOs.
At Kyndryl, the company aims to emulate this trend, with 30-35% of senior finance roles currently led by women executives.
Related: Republic World Appoints Samarjit Singh as Chief Revenue Officer
Barriers to advancement and support structures
Despite these numbers, challenges remain for women aiming for the top. Doegar says the most significant hurdle is often the intersection of professional ambition and personal responsibilities. Women are frequently the primary caregivers for children and aging parents, and their needs for flexible schedules or location changes often differ from their male counterparts.
Doegar believes organizations must provide support structures that help returning mothers achieve their full potential. She argues that helping these employees is not an altruistic gesture but a business necessity. Retaining the best talent allows companies to solve their most complex business problems.
While the progress is measurable, the trajectory flattens as professionals move up the corporate ladder. Organizations must continue to address these structural imbalances to ensure that talent is not lost simply because it does not fit a rigid schedule.
The PIE model for early career growth
For young professionals looking to build confidence and credibility, Doegar recommends the “PIE” model. She attributes this framework to her mentors at General Electric. She explains that career trajectory is a factor of three elements: performance, image, and exposure.
Performance is the most measurable aspect. It refers to the impact an employee makes in their role. Image is how a person shows up to peers, juniors, and senior leaders. Doegar advises actively seeking feedback to identify blind spots between how one views themselves and how others view them. Finally, exposure involves taking initiative. This means raising a hand for stretch projects and accepting roles that push one’s comfort zone.
Related: Discovering Biggin Hill: Trends in Engagement Rings in London
Supporting intellectual diversity
Creating an environment where diverse perspectives drive outcomes requires intentional effort. Doegar defines this as “intellectual diversity.” She believes that different perspectives help teams find solutions that adapt faster and remain resilient during volatile changes.
To achieve this, leaders should consciously build teams with varied backgrounds, domains, and tenures. Doegar notes that decision-making may slow down initially as diverse teams go through a bonding stage. Leaders must act as the glue that binds these different perspectives to the team’s ultimate mission.
Senior leaders have a responsibility to nurture the next generation of women in finance and technology. Doegar says she has walked on the shoulders of giants throughout her career. She recalls leaders who gave her roles she thought she was not ready for and stood behind her during difficult decisions.
She sees it as a mission to pay it forward. This involves mentoring, coaching, and cheering on other women so they can become the best version of themselves in their professional and personal lives.
