Notes

Farnoush Farsiar, Why Are So Few Women in Finance
Women are breaking down barriers and are becoming leaders in various industries. However, there are very many women in finance. It's not likely to change, unfortunately.

Deloitte insights estimates that 31% of the financial industry employees will be female in 2030. This raises the question: Why is there a lack of women working in finance? There are many theories. We wanted to learn more from an expert. Farnoush Farnoush a highly successful financial professional who is devoted to women's empowerment was the reason we interviewed her.

What percentage of women are working in finance?

In the U.S., 57% are female, yet they are held in only 24% of financial jobs. It is predicted that the number will grow to 28% within the next 10 years, compared to 24 percent in 2021. However, they are way short of parity.

It's not only a problem faced by women. Farnoush Farsiar thinks it's an issue that impacts the economy. Farsiar asserted that leadership teams with diverse viewpoints perform better than those without. "So it's crucial to have females in these positions. Farnoush Farsiar It's also essential for the country as a whole.

There are a myriad of theories to provide the reason women aren't being represented in the financial services industry. The most popular theory is that finance is too masculine and competitive for women to enter into. Another theory is that parents and peers aren't encouraging women to consider finance careers.

Farsiar believes women's socialization from the age of ten is the heart of the problem. "Women at a young age are taught to be risk-takers but caregivers. "We are taught to be safe and not take chances. This isn't a good way to go about a career as an analyst in finance.

It's not enough that women are trained to be caretakers. Farnoush Farsiar They're also taught to be people-pleasers. Farsiar claims that women are taught to be polite and avoid conflicts. "But you have to be able advocate for your own ideas regarding finance. You should be able to speak up for your thoughts.

Farsiar What are the fate of all the finance women?
The dearth of women working in finance is particularly apparent at the top levels of the business. A study conducted by Pew research found that women comprise just 10% of the executive roles. They also hold only 11.5 percent of the seats on the boards of financial firms.

Farnoush Farsiar This inequality has real-world effects on women who work in finance. They are more likely not to get promoted than their male counterparts. They're as well more likely to leave the industry entirely.

The good news is that women are slowly, but surely becoming more senior. Farnoush Farsiar believes that this is in part due to the #womenshould movement, which has led to more awareness of the lack of diversity. Farsiar believes that #MeToo has had an incredible influence in her personal life. Women are speaking out more and demanding changes.

There are hurdles for women getting into finance
There are many obstacles that prevent women from being able to enter the field of finance. Lack of role models is one important obstacle. Female financial professionals are usually the only ones in their departments, which can result in isolation.

Farsiar stated that it's a bit daunting to be the only female present in the room. "You are you are under pressure to do your best and must not make any mistakes.

Another obstacle is the traditional men's club mentality that persists in many financial firms. This refers to the idea that men promote other men and women are left out.

Farsiar acknowledges that "there's a lot more real," he says. "I've witnessed this happen in person. Men will be able to promote men, even if they are better qualified."

This old boys' club mentality can also lead to sexual harassment and discrimination. Women in finance are often subjected to demeaning comments and unwelcome advances by their male colleagues.

Farnoush Farsiar says, "It is certain that it is a problem." "Women working in finance are usually considered to be objects and it's very difficult to get ahead in a world where you're treated as a commodity."

The last obstacle is the lack of flexible working hours. Women are more likely than men to be entrusted with family responsibilities, such as taking care of children or elderly parents. To be able to balance home and professional lives it is necessary to have flexible work arrangements.

"Finance is a complicated field, can be difficult to handle when you have additional responsibilities. Women are often forced to choose between their career or family.

This makes it challenging for women to enter the financial sector and hold high-level post. Farnoush Farsiar There are however several initiatives being implemented to change this.

Farnoush Farsiar Believes the Future is Bright for Women in Finance
There are plenty of reasons to be optimistic about the future of women in finance. A variety of initiatives are aiming to increase the number of women in the financial industry and to help them reach senior positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one of these initiatives. It's a collaboration between World Bank Group and 14 countries. We-Fi supports women-led companies in emerging nations by offering financing and support.

Farsiar stated, "This is an excellent initiative because it allows women access to the resources they need to assist them in starting and expanding their business." It helps them create networks and connect with other female entrepreneurs.

Another initiative is the Women in Finance Charter, that the U.K. government launched in 2016. The Women in Finance Charter aims to encourage gender diversity in financial institutions.

"The Women in Finance Charter is a great step forward," Farsiar encourages. http://tvs-magnetit.kz/user/Farnoush-Farsiar3bddbb33/ "It's encouraging financial companies to be proactive about gender diversity and is creating a positive change."

Women in Finance Charter and We-Fi help more women achieve high-level posts. This is great news for women as well as the financial sector.



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