This study examines the impact of macro context on women’s careers. In particular we study the effects of a federal regulation (Sarbanes-Oxley Act, SOX) and the 2008 financial crisis on the position and compensation of female CEOs in the hospitality industry. Using Standard & Poor’s Executive Compensation database (Execucomp) we find that SOX led to an increase in women serving as CEO. However, neither the federal act nor the financial meltdown had an effect on the total compensation of CEOs. This evidence suggests that the gender compensation gap remains constant regardless of particular events happening in the macro context.