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Barriers to Women's Career Advancement in Financial Services: A Systematic Literature Review Cover

Barriers to Women's Career Advancement in Financial Services: A Systematic Literature Review

Open Access
|Jun 2026

Figures & Tables

Figure 1.

PRISMA flow diagram for systematic review.

Summarised themes by papers_

1. Personal characteristics2. Network3. Family Context4. Diversity5. Inclusion6. Equity
Papers, N1081217913
Percent50%40%60%85%45%65%

Themes by papers

1. Personal characteristics2. Network3. Family Context4. Diversity5. Inclusion6. EquityN%
YearLead AuthorSkills, performance, professionalismConfidence, motivationFormal, informalCareer break, motherhoodFamily, otherCultureOrganisationOrganisationMentoringWork-lifeRemune-ration
2021AlhalwachiV V 216.7%
2021DownarVVV V 433.3%
2023Galizzi V V VVV 541.7%
2013Gammie V VV325.0%
1998GreyV V 216.7%
2021Kobus-OlawaleVVV V VVV 758.3%
2024LanginierV V V 325.0%
2004McNicholas V VVV V 541.7%
2013PryceVVVV V VVV 866.7%
2019Rath V VV 325.0%
2023SianV VVVV V 650.0%
2020Sian V VV V 433.3%
2018Single V 18.3%
2023Storm V VV 325.0%
2021Zarei V V VV433.3%
2006Ogden VV V V V 541.7%
2020Richards VV V V V 541.7%
2012AlmerV VV V 433.3%
2022Hammond and Coetzee V V VV433.3%
2016Ribeiro; Bosch; Becker VV V VV541.7%
8588515566134
40%25%40%40%25%75%25%30%30%65%20%

Quality assessment

CriteriaAll (%)Quantitative (%)Qualitative (%)Mixed (%)
1Explicit theoretical framework90.0%88.9%88.2%77.78%
2Statement of aims/objectives in main body of report96.7%100.0%96.1%100.0%
3Clear description of research setting98.3%94.4%98.0%88.9%
4Evidence of sample size considered in terms of analysis90.0%88.9%90.2%88.9%
5Representative sample of target group of a reasonable size98.3%100.0%98.0%100.0%
6Description of procedure for data collection95.0%94.4%94.1%88.9%
7Rationale for choice of data collection tool(s)86.7%100.0%84.3%100.0%
8Detailed recruitment data80.0%94.4%76.5%88.9%
9Statistical assessment of reliability and validity of measurement tool(s) (Quant only)50.0%50.0%-33.3%
10Fit between stated research question and method of data collection (Quant only)94.4%94.4%-88.9%
11Fit between stated research question and format and content of data collection tool e.g. interview schedule (Qual only)77.8%-82.4%88.9%
12Fit between research question and method of analysis (Quant only)77.8%77.8%-55.6%
13Good justification for analytic method selected76.7%61.1%80.4%66.7%
14Assessment of reliability of analytic process (Qual only)58.8%-58.8%11.1%
15Evidence that the research stakeholders have been considered in research design or conduct5.0%16.7%0.0%0.0%
16Strengths and limitations critically discussed66.7%72.2%64.7%66.7%

Total score642213532103
Maximum score816270690144
% of max score78.68%78.89%77.10%71.53%

Selected papers

YearLead AuthorCountryCareer areaMethodQuantitative
2021AlhalwachiBahrainBankingInterviews0
2021DownarGermanyAudit partnerArchival data records1
2023GalizziItalyAccounting academicsIn-depth interviews0
2013GammieUKAccountantsMixed method: Survey and in-depth interview1
1998GreyUKAudit firmsDocuments and semi-structured interviews0
2021Kobus-OlawaleSouth AfricaBankingSemi-structured interviews0
2024LanginierLuxembourgAuditorsSemi-structured interviews0
2004McNicholasNZAccountancySemi-structured interviews0
2013PryceUKBankingSemi-structured interviews0
2019RathIndiaBankingNarratives and focus group discussions0
2023SianMalaysiaAccountingDocuments, semi-structured interviews, and participatory observation0
2020SianSaudi ArabiaAuditorsIn-depth interviews0
2018SingleUSA and CanadaAccountingSurvey1
2023StormDenmarkAccounting serviceInterviews0
2021ZareiIranAccounting professionMixed-method study, cross-sectional design and in-depth interviews1
2006OgdenUKFinancial servicesInterviews0
2020RichardsAustralia and NZFinancial advising industryIn-depth interviews0
2012AlmerUSAAccountingSurvey1
2022CoetzeeSouth AfricaFinancial servicesSemi-structured interviews0
2016BeckerSouth AfricaChartered accountantsSurvey1
DOI: https://doi.org/10.2478/fprj-2026-0009 | Journal eISSN: 2206-1355 | Journal ISSN: 2206-1347
Language: English
Published on: Jun 23, 2026
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year

© 2026 Galina Williams, Angelique McInnes, Lili Liwin, Meena Jha, published by Financial Advice Association of Australia
This work is licensed under the Creative Commons Attribution 4.0 License.