This study aims at investigating whether the glass ceiling and the gender stereotype affect the career progression of female faculties at private universities in Bangladesh. It has also made an effort to disclose whether glass ceiling has any effect on gender stereotype. Using cluster random sampling technique, 167 female faculties of 10 private universities in Dhaka have been surveyed. Structural equation modeling technique has been used to analyze the hypotheses of the study. This study has found that glass ceiling has significant effect on the career stagnancy of female academics teaching at private universities. It has also revealed that glass ceiling has significant effect on gender stereotype at workplace. This paper will help the stakeholders realize the fact that women are facing difficulties in their career progression due to glass ceiling. It will also assist to identify pragmatic interventions to minimize the consequences derived from glass ceiling on female academics’ career advancement in private universities of Bangladesh.