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Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking through barriers and achieving great success across a variety of industries. However, the sad reality is however, that women still make up a small percentage of finance professionals. But, unfortunately, this will not change so soon.

Deloitte Web Insights indicates that only 31 percent of the financial sector's workers will be women by 2030. This raises the question "Why do women have a hard time working in financial services?" Farnoush Farsiar There are many theories. We wanted to hear more from an expert. That's why we interviewed Farnoush Farsiar an accomplished finance professional who is passionate about women's empowerment.

How many women work in Finance?

The U.S. has 57% female workforce but just 24% financial jobs. It is expected that this number will rise to 28% within the next 10 years, compared to 24 percent in 2021. However, it is far short of parity.

This is not a problem just for women. It's also a challenge in the business world, according to Farnoush Farsiar. Farsiar stated that diverse leadership teams have more impact than teams who have fewer perspectives. It's crucial that women be represented in these areas. However, it's also essential for the country.

There are a variety of reasons women aren't present in the financial world. One theory is that the financial industry is dominated by men and competitive for women to make it into. Another theory is that financial careers are viewed as a deterrent from women by their parents or peers.

https://reportlet.co.uk/psc/4JvfQwpTV8vIqepLTGpSXcssw-o/ms-farnoush-farsiar-aidi Farsiar believes that the socialization of women in their early years is at the root of the issue. "Women from an early stage are taught that they should be risk takers but caregivers. "We are taught not to risk our lives, but instead to play it safe. This isn't a good way to go to a successful career in finance."

https://lexcliq.com/how-can-wealth-management-firms-prepare-for-turbulent-times-farnoush-farsiar/ It's not enough for women to be educated as caregivers. They're also socialized as people-pleasers. Farsiar says that women are taught to be polite and avoid conflict. "But in finance it is essential to be prepared and willing to speak up for yourself. You need to be able advocates for your own ideas.

Farsiar Asks Where are all the Women in Finance?
The dearth of women working in finance is particularly evident at the top of the business. Farnoush Farsiar According to a 2016-2017 survey conducted by Pew, women hold just 10% of the top executive post. Just 11.5 percent of the boards in financial institutions are occupied by women.

This imbalance has real-world impacts on women working in finance. They are more likely than their male colleagues will be promoted and are more likely to leave the field.

The positive side is that the number of women working in senior positions is gradually but steadily growing. Farnoush Farsiar believes this partly because of the #womenshould campaign that has raised awareness about the absence of diversity. Farsiar states she's "convinced that the #MeToo movement has also had an impact. Women are now more vocal and calling for change.

The obstacles for women who want to pursue finance
Many barriers prevent women entering the financial world. One of the largest obstacles is the lack of role models. Financial women are often the only ones working in their department, which can cause feeling isolated.

Farsiar acknowledged that it is difficult to be in a room with just one woman. "You think you need to be perfect every time and that you aren't allowed to make mistakes."

Another obstacle is the traditional men's club mentality which still exists in a lot of financial institutions. This is the belief that men are superior to women, and that men should be promoting each other.

Farsiar admits "there's lots of real," he says. "I've witnessed this happen personally. Men will be able to promote men, even if women are more skilled."

This"old boys' club" mentality can also result in discrimination and harassment of women. Women in finance are frequently exposed to unwanted advances and demeaning comments from male colleagues.

Farnoush Farsiar says, "It is certain that it is a problem." "Women who work in finance are often treated like commodities, making it difficult for them to succeed."

Last but not least lastly, there's the issue of flexible working arrangements. https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/ It is more common for women to be able to handle family responsibilities such as caring of parents who are elderly or children. These women need flexible working schedules to be able to manage work and home.

"Finance is a very stressful industry, and it's hard to keep up with the demands when you're also juggling other obligations. Many women are forced to choose between their work or family.

These obstacles make it extremely difficult for women working in the financial industry to reach high-ranking post. There are several initiatives to help change this.

Farnoush Farsiar is optimistic about the future of women working in finance.
There are numerous reasons to be hopeful regarding the future of the financial sector. A variety of initiatives are in place to boost the number of women in the finance sector and aid them in reaching senior roles.

One of these initiatives is the Women Entrepreneurs Finance Initiative (WeFi) that is a partnership between the World Bank Group & 14 governments. We-Fi offers financial assistance and financing to women-owned companies in the developing world.

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

The Women in Finance Charter, created by the U.K. in 2016, is another initiative. The Women in Finance Charter encourages gender diversity.

Farsiar believes to "The Women in Finance Charter" is a major step in the right direction. "It's encouraging financial companies to be proactive about gender diversity, and it's making a difference."

Initiatives like We-Fi or the Women in Finance Charter make it easier for women to move into leadership roles. This is a good thing for both women as well as the financial sector.



Website: https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/