Many have trouble finding mentors in the workplace or feel their managers don't understand their culture. And though, among women, Asian Americans are most likely to have graduate education, they are least likely to be managers or hold high corporate positions, the study found.

The report, "Advancing Asian Women in the Workplace: What Managers Need to Know," mirrors one released earlier this summer about Latinas in business. Latinas and Asian American women are among the fastest-growing groups in the U.S. labor force, but each account for fewer than 30 of the more than 10,000 corporate officers in Fortune 500 companies.

"It's a stark picture of an incredible talent base that's not advancing through organizations," said Kara Helander, Catalyst's western region vice president in San Jose, Calif. "Both of these populations are of growing importance to American business — both as growing sources of talent and keys to accessing markets."

In the study, 413 women of Asian descent were broken into two groups — those who grew up in the United States and those who immigrated as adults. Regardless of their acculturation, many said their Asian cultural values are frequently at odds with their ability to successfully navigate the corporate landscape.

"We are taught in our culture to let good work speak for itself and that it's not becoming to bring attention to yourself or your work," said Quinn Tran, co-founder and chief marketing and sales officer of KnowledgeTek Software in Redwood City, Calif. "Managers should try to understand cultural differences so you know how to manage people and draw them in."

But Radha Basu, president and chief executive officer of SupportSoft, a Redwood City company that makes support automation software, said that even though there may be obstacles for women and people of color, it's up to individuals to chart their career path.

"The barriers may be there, absolutely," said Basu, who mentors other women through the Bay Area Indian Business and Professional Women networking group. "But you have to figure out what those barriers are and how to get around them."

In both Catalyst surveys, Latinas and Asian American women said they encounter stereotypes in the workplace. Asian women said they often feel overlooked by their companies' diversity programs, in part, because they are labeled "overachievers" who do not require specific diversity efforts. Latinas said managers often assume that employees who have an accent may not understand their work assignments, and said they are perceived as less ambitious.

Both reports suggest managers should encourage more experienced Asian American women and Latinas to serve as mentors for younger women and make more of an attempt to understand the cultural background of their diverse workforce.

The Catalyst reports serve as reminders that although some progress has been made, there is still "significant room for improvement," said Michele Goins, vice president and chief information officer of Hewlett-Packard's imaging and printing group.