Three in Four Women Executives Have Felt Impostor Syndrome, KPMG Study Finds

What the KPMG Study Found — and Why It Matters Beyond the Individual

A KPMG study of 750 high-performing women executives has found that 75% experienced feelings associated with impostor syndrome at some point in their careers. The finding challenges a common assumption: that self-doubt fades with experience, promotions or professional recognition. Instead, the data suggests that even women who have reached senior positions continue to question whether they truly belong in the rooms they have earned the right to enter.

The study arrives amid a broader conversation about women in leadership, reignited by a Forbes series on female executives. The central question is why accomplished professionals — with credentials and results to match — can still feel like outsiders in positions of power. The phenomenon is not limited to those early in their careers; it persists among women at the top of their fields.

The regional picture is paradoxical. According to Grant Thornton, South America in 2026 has the highest proportion of women in senior management of any region, at 37% — though this figure slipped 0.2 percentage points from the previous year. The World Economic Forum ranks Latin America and the Caribbean as the third region globally in progress toward gender parity, with 74.5% of the total gap closed. In economic participation and opportunity, the region reaches 77.1%.

Yet the numbers narrow sharply at the highest levels. LinkedIn data across 39 economies shows women hold just 24.6% of C-suite positions — the roles with the greatest control over strategy, capital and operations. The International Labour Organization reports that women still occupy less than one-third of managerial roles globally, and only 28.2% of surveyed companies had a woman CEO in 2025, up from 23.4% in 2013. The ILO also notes that progress has not been uniform: while representation improved at senior levels, it regressed at some entry and middle-management tiers, potentially limiting the pipeline of future female candidates for top roles.

Latin America's Leadership Paradox: More Women at the Top, Fewer in the C-Suite

Why Impostor Syndrome Is Not Just an Individual Problem

The KPMG finding — that three in four high-performing women executives have experienced impostor syndrome — is often framed as a personal psychological challenge. But the data surrounding it points to something structural. When women remain a minority in senior leadership, when role models are scarce and when corporate cultures still treat female authority as the exception rather than the norm, the sense of not belonging is reinforced by the environment itself. The credentials and results may be there, but the organizational context can still signal that legitimacy is conditional.

Latin America's Paradox: Leading in Senior Management, Lagging in C-Suite Power

South America's 37% share of women in senior management is the highest of any region, according to Grant Thornton. That is a genuine achievement. But the LinkedIn data showing women hold only 24.6% of C-suite roles across 39 economies reveals a critical distinction: presence in senior management does not automatically translate into control over strategy, capital and operations. The gap between occupying a title and wielding real decision-making power is where the region's paradox lives. The World Economic Forum's 74.5% parity score for Latin America and the Caribbean is encouraging, but it measures the breadth of progress, not the concentration of power at the very top.

The Pipeline Problem the ILO Has Identified

The International Labour Organization's finding that female representation has regressed at some entry and middle-management levels is arguably the most consequential data point in this story. If the pipeline narrows before women reach senior ranks, the recent gains at the top become fragile. Companies that celebrate progress in senior management without addressing attrition or stagnation at earlier stages may find their future C-suite candidates in short supply. The ILO's CEO figures — 28.2% in 2025 versus 23.4% in 2013 — show improvement, but at a pace that suggests structural barriers remain firmly in place.

What This Means for Paraguay and Similar Markets

The article notes that the discussion extends to Paraguay, where more women are entering business ownership, boards and management. The next challenge is not simply increasing their numbers but building conditions that allow them to remain, advance and exercise authority without the added burden of constantly proving their legitimacy. For markets at this stage, the risk is that progress in representation stalls or reverses if organizational cultures do not evolve alongside the demographic shift. The evidence from the region suggests that without deliberate changes to how companies develop, retain and promote women at every level, the gap between holding a position and feeling fully empowered within it will persist.

What Companies and Executives Should Do Next

The most important insight: impostor syndrome among women executives is not a pipeline problem that solves itself with more promotions — it is a culture problem that requires deliberate organizational change.

For companies operating in Latin America and other markets where female representation in senior management is rising, the KPMG and ILO data point to specific actions:

• Audit your mid-level pipeline now. The ILO found that female representation has regressed at some entry and middle-management levels. If your company is not tracking promotion and attrition rates by gender at each tier, you cannot know whether your future C-suite pipeline is shrinking. Start measuring this quarter.
• Address the C-suite gap directly. With women holding only 24.6% of C-suite roles across 39 economies, targets for senior management are not enough. Set specific, time-bound goals for C-suite representation and tie them to succession planning.
• Build sponsorship, not just mentorship. The lack of role models and the experience of being a minority in leadership reinforce self-doubt. Formal sponsorship programs — where senior leaders advocate for specific women for specific roles — are more effective than general mentorship at moving women into positions of real power.
• Normalize the conversation. When 75% of high-performing women executives report impostor syndrome, treating it as a taboo or a personal weakness is counterproductive. Leaders who speak openly about their own doubts can reduce the stigma and help retain talent.

Metrics worth watching: your company's gender breakdown at each management tier, promotion rates by gender, and the share of women in roles with direct P&L responsibility. These are the indicators that will show whether representation at the top is sustainable or superficial.