The IT industry has completely changed the economic scenario of India. It has become an important source of employment, especially for women. Women, today comprise a significant portion of Indian IT industry but their representation at top level managerial positions is not in proportion to their entry in the industry. They are mostly concentrated at the middle and lower level managerial positions. This article examines the literature on career advancement and attempts to explore the barriers of women's progress in management. The literature survey is supported by in-depth interviews of 15 women IT professionals. Gender stereotyping, work culture, absence of mentors and role models, work-family conflicts and absence of girls' informal networks emerge as major themes that explain the slow growth of Indian women IT professionals to the top echelons of management.