Challenging herself to be open to new experiences has helped Hostelworld CFO Caroline Sherry excel in her career as a Chartered Accountant.
My journey into accountancy was not linear. While I had a passion for science during my school years and pursued chemistry at college, the idea of working in a laboratory didn’t quite align with my career vision. It wasn’t until I had the opportunity to intern with Davy Stockbrokers one summer that I discovered the type of career path I really wanted to pursue.
During my internship, I was exposed to finance and accounting in a real-world setting. Seeing firsthand how analytical skills were applied to complex financial matters, combined with the varied nature of the work and dynamic environment, all really appealed to me.
This experience, coupled with conversations with my sister, who is also a Chartered Accountant, helped me envision a career in accountancy.
What attracted me most to a career as a Chartered Accountant was the perfect blend it offered between my analytical nature and my interpersonal skills.
Of course, the road to becoming a Chartered Accountant wasn’t without its challenges. The daunting prospect of the exams initially gave me pause. I had to sit every exam with no exemptions!
I got through it all with the knowledge that the Chartered Accountancy qualification would equip me for a commercial career, which was ultimately my goal.
Fostering gender equity in the profession
One of the most significant changes I’ve observed throughout my career is the recognition of gender equity as a pressing issue.
People now openly acknowledge the lack of representation and are more willing to question and challenge the status quo. Gender equity has become a legitimate reference point for companies’ cultural ethos.
While finance is an attractive career path for women, the sector’s demanding nature poses challenges, particularly concerning work-life balance. Many face obstacles such as long and inflexible hours, which make it challenging when trying to balance career ambitions with family responsibilities.
Financial recompense often fails to adequately compensate for these sacrifices, leading some women to step back from their careers at a crucial stage for progression.
It’s very challenging, as male counterparts typically do not take time out and, therefore, continue to advance. It’s disheartening to consider the potential, talent, intellect and creativity that companies lose because of this dynamic.
As one of a handful of Chief Financial Officers who are women among the 32 companies listed on the Irish Stock Exchange, I am aware of the significant underrepresentation of women in key decision-making roles.
This disparity extends to senior leadership positions, highlighting the need for systemic change across all stages of the career lifecycle.
Rethinking traditional work practices and policies is essential to addressing these challenges and fostering greater gender equity.
Everyone, irrespective of gender, has the right to progress in their career and achieve their career aspirations, whatever they may be – and what people need to achieve this will differ.
Flexibility is key: more flexible work arrangements that accommodate the diverse needs of the workforce. Traditional structures, presenteeism and pay disparity require changes to create a more inclusive and supportive environment where everyone, irrespective of gender, has equal opportunities to progress.
Moreover, initiatives aimed at encouraging girls to pursue subjects like finance and accounting from an early age can help bridge the gender gap and cultivate a pipeline of talented female professionals.
By addressing these issues comprehensively and proactively, we can create a profession that reflects the diversity of our society and harnesses the full potential of all individuals.
Understand your strengths
Career advancement opportunities were not always immediately apparent to me. However, I knew that working on interesting projects and taking on new challenges would round out my skills and help to determine my next career step.
I always challenged myself to be open to new experiences and to use them as learning opportunities.
Working on cross-functional projects was a great way for me to deepen my understanding of the business and build relationships with colleagues. I tried to learn from line managers and peers, soaking up as much as I could along the way.
Feedback is a gift, as they say! It allowed me to understand my strengths and gave me the confidence to know where I could add value to and where I needed additional support.
My advice is: When the opportunity arises, back yourself and go for it.
Mentoring for perspective and advice
Personally, I have gotten a lot from mentoring, and I’ve found informal mentoring works best for me. My mentors have included friends, peers and line managers.
I’m very fortunate to have a great friendship group from my time at PwC; a group of fellow working mothers who can empathise with the daily demands we all face. This varied group of mentors has given me valuable guidance, insight and encouragement.
The best mentorship conversations are those that give you perspective and advice to help guide you through the obstacles and tougher times. Positive mentoring relationships can help you develop a sense of self-assurance, resilience and invariably provide context.
On the other hand, networking has always been a bit tougher for me. It can be daunting to put yourself out there, particularly if you walk into a ‘networking opportunity’ function and you don’t know anyone! I’ve had to push myself to do more of it.
Networking offers a valuable opportunity to engage with industry peers and leaders, expand your sphere of influence, stay abreast of industry trends, and access new career opportunities.
I would really encourage people to look for both networking and mentoring opportunities. They don’t necessarily need to be very formal. Both serve as powerful tools for career development.
By harnessing the collective wisdom of your support network of mentors and peers, individuals can unlock their full potential, gain confidence and achieve their professional aspirations.
Know what you need
One question I wish I could answer is how to obtain a good work-life balance!
Acknowledging how challenging it can be to achieve ‘balance’ is critical. I am more mindful of balance and the need to establish boundaries for both my team and I.
I have a great team and encourage open communication about our individual needs, fostering a supportive environment where people can be at their best.
When you can’t find balance, I think the the best course of action is to acknowledge the challenge and to try not to be too hard on yourself.
By acknowledging the difficulty in finding balance and practising self-compassion, you can alleviate some of the pressure you put on yourself.
Establishing boundaries when working has been one of the toughest challenges I’ve faced in my own career.
In the past, I was not forthcoming about what I needed to attain a better work-life balance. I endeavour to do this now and look to support my team so that we can all be at our best.
About this series
Last year, Accountancy Ireland introduced a new series in collaboration with the Gender Working Group of the Institute’s Diversity Equity and Inclusion Committee.
Focused on the women in our membership, we are relaunching this series this year under the new banner ‘My Story So Far: Women’s Career Series’.
It follows the 2022 publication of a global Chartered Accountants Worldwide survey which explored opportunities for women in the profession.
The survey found no obvious gender-related barriers to entry into the profession but revealed that a growing number of women were making the decision to leave or pivot within the profession mid-career.
‘My Story So Far: Women’s Career Series’ seeks to highlight the experiences of the women in our membership and provide a forum to share their insights into how they have managed their careers in tandem with their lives and overcome the challenges and obstacles they have encountered along the way.
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