By Joseph M. Larkin, CPA, PhD, and Joseph M. Ragan, CPA
A significant number of accounting professionals, regardless of their specific discipline, share a common dilemma: managing the dual-career challenges that arise from their and their spouses’ employment.
The accounting profession, like most professions in society today, has members, both male and female, that have spouses who are equally committed to their own careers. The result is evidenced by the growth in the number of dual-career couples. Recent research indicates that there are more than 40 million dual-career couples in the work force.
The benefits are significant, including increased family income and a sense of fulfillment for both husband and wife. However, many constraints and problems cannot be ignored. For instance, sometimes finding two suitable jobs or paths for advancement in the same geographical area is difficult. When a spouse is offered a promotion, which sometimes comes with a transfer, the decision of whether or not to accept the offer becomes more complicated.
Dual-career couples may also suffer from sociological pressures. About one-fourth of the nation’s working wives earn more than their husbands, which can cause strain within a marriage because of the long tradition of men holding the “bread-winner” role. To complicate this, couples may also have to juggle traditional home and family roles. Sometimes the stress that arises can paint a picture that dual-career couples have a less-than-rosy relationship. This fact, at the very least, is challenging.
To successfully manage dual-career relationships, there are five critical factors: mutual commitment to both careers, flexibility, coping mechanisms, financial considerations, and energy and time management.
Commitment to Both Careers - The accounting profession requires a significant time commitment, whether the CPA is in public accounting, consulting, industry, or not-for-profit. CPAs often spend more than 50 hours a week at their jobs.
It is important for each partner in a relationship to agree to, and share, this commitment to work and each other’s desire to pursue a career. The couple’s self-concept needs to be built around seeing themselves as a working team, realizing that sometimes one mate’s needs will take a back seat to their partner’s responsibilities.
Flexibility - The flexibility needed in managing dual careers has two components, personal flexibility and flexibility on the job. Personal flexibility is the willingness and ability to adapt and improvise to deal with problems that are affecting both members. Job flexibility exists when at least one spouse has the ability to change work schedules to accommodate conflicts and crises. Also, it is crucial that at-home roles be flexible and shared. If one spouse has a professional commitment, it is important for the partner to step up and take the lead at home.
Coping Mechanisms - Coping mechanisms are critical for dual-career couples. For example, restructuring home roles as needed may be a successful strategy. Each partner can negotiate to make his or her role more compatible with their joint responsibilities. Coping may also take the form of setting priorities or being more selective when planning and scheduling activities. It is also important, though sometimes not easy, to separate work from personal matters.
Financial Considerations - This factor raises many questions. Some couples hold finances jointly, while others have separate accounts and one joint account to pay joint expenses. What happens when one person in a marriage receives separate funds, such as gifts or an inheritance? Which account does that go in? Retirement funding, college planning, and health care considerations are also variables in the financial equation. It is important to analyze whether or not the family will be eligible for financial aid, and how to structure their finances to take the greatest advantage of it. All these financial decisions need to be addressed jointly, and agreed to, well in advance. Frank and open discussions are a prerequisite.
Energy and Time Management - Dual-career couples must work hard to make their relationship thrive. This requires devoting energy to supporting the partner’s endeavors and to plan a reasonable amount of time for commitments and responsibilities. Partners must recognize the importance of maintaining the relationship and giving it a high priority. Be sure to set aside some special time with your partner, whether it is a quiet evening alone or a night on the town. The key is to plan it, prioritize it, and follow through. Don’t allow anything to stand in the way of enjoying the moment.
Many organizations are developing a variety of strategies for dealing with the dual-career couple. An effective program should consider support services for career couples, flexible career-development tracks and experiences, spousal involvement with career planning and problem solving, and skills development in coping with conflict and life/career management.
Joseph M. Larkin, CPA, PhD, is an associate professor of accounting in the Haub School of Business at Saint Joseph’s University, and is director of the accounting internship program. He can be reached at jlarkin@sju.edu.
Joseph M. Ragan, CPA, is the accounting department chair and a professor of accounting in the Haub School of Business at Saint Joseph’s University. He can be reached at jragan@sju.edu.
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