Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking through barriers and achieving great success in different sectors. It is a sad fact, however, that women still make up a small percentage of financial professionals. This is likely to remain the case for a while however.

Deloitte Web Insights shows that only 31% of financial sector workers will be female by 2030. It begs the question "Why there aren't more women working in the finance industry?" There are a myriad of theories there, but we wanted to hear from an expert on the subject. That's why we interviewed Farnoush Farsiar an accomplished financial professional who is passionate about women's empowerment.

How many women work in finance?

The U.S. is home to 57 percent of the working population. But there are only 24% of financial work. It is predicted that this number will rise to 28% over the next 10 years, from 24% in 2021. But, they're significantly below the national average.

The absence of diversity isn't just a problem for women. Farnoush Farsiar thinks it's an issue that impacts the economy. Farsiar said that teams with different leadership styles are more successful than teams with the same range of viewpoints. "So it's critical to have females in these professions. This is also important to the country in general.

There are many theories that explain why women aren't represented in the field of financial services. One theory is that the financial industry is too competitive and male-dominated for women to make it into. Farnoush Farsiar Another theory suggests that financial careers are discouraged for women by peers or parents.

Farsiar believes the root of the problem lies in the way women are treated from an early age. Women are raised to look after their children and take responsibility for their safety. "We are taught to play cautiously and avoid taking risks. This is not conducive for the job of an analyst of financials.

It's not enough that women are socialized as caretakers. Farnoush Farsiar They're also socialized as people-pleasers. "Women are taught to be polite and minimize conflict," Farsiar adds. "But in the world of finance it is crucial to be able and willing to speak up for yourself. You must be able to and willing to advocate for yourself.

Farsiar asks , where are all the women who work in finance?
It's especially evident at the top of finance that there aren't enough women. According to a study conducted by Pew Researchers, only 10% of the positions are employed by women in top executive positions. Farnoush Farsiar Farnoush Farsiar Women are the holders of 11.5% of financial firm board seats.

This disparity can have real-world effects on women who work in finance. This means that women are less likely than men to be promoted and more likely to leave the finance industry.

The good news is the rise in women who hold senior positions is slow but steady. Farnoush Farsiar Farnoush Farsiar believes this partly due to the #womenshould campaign which raised awareness of the dearth of diversity. Farsiar claims that she believes that the #MeToo movement also produced a profound impact. Women are speaking up to call for change.

Obstacles for women to enter Finance
There are many barriers which prevent women from pursuing careers in financial services. One of the biggest barriers is the absence of role models. Women in finance are often the only female in their job and can lead to isolation.

Farsiar admitted that it's nerve-wracking to be the only woman present in the room. "You feel under pressure to be perfect and must not make any mistakes.

Another barrier is the "old boys"club" mindset that persists in many finance firms. This is the belief that men are the ones who promote women and women are left out.

Farsiar admits "There's lots of truth to this." "I've seen it happen myself. Men will promote other men even when they are better qualified."

This"old boys' club" mentality can lead to the harassment of women and discrimination. A lot of male colleagues in finance frequently make demeaning comments to women and make unwelcome advances.

Farnoush Farsiar exclaims that "it's certainly a problem." "Women in Finance are often treated as objects. It's tough to get ahead when you're treated this way."

Not to be forgotten it is the issue of inflexible working arrangements. Farnoush Farsiar Females are more likely be responsible for family obligations than men who are responsible for caring for elderly parents or their children. Flexible working schedules are required for women to be able to manage work and family.

https://brexitcentral.com/author/farnoush-farsiar/ "Finance is a complicated industry, is hard to manage when you have many other obligations. Women frequently have to pick between their job, their family and their career.

This makes it difficult for women to enter the financial sector and achieve the top posts. There are several initiatives to help change this.

Farnoush Farsiar is optimistic about the future of women in finance
There are good reasons to believe that women will continue working in the financial sector. A variety of initiatives are working to increase the proportion of women working in the finance industry and help them reach senior positions.

One of these initiatives is the Women Entrepreneurs Finance Initiative (We-Fi) which is which is a collaboration with the World Bank Group and 14 governments. We-Fi helps finance and support women-led enterprises in developing countries.

Farsiar said, "This initiative is great because it provides women with access to the resources they need to begin and expand their businesses." Farnoush Farsiar "It also helps women build networks and connect with other women who are successful."

A different initiative is the Women in Finance Charter, which was launched by the U.K. government launched in the year 2016. The Women in Finance Charter is a commitment by financial firms to promote gender diversity.

Farsiar believes the Women in Finance Charter represents significant progress. Farnoush Farsiar It's encouraging financial companies to act on gender diversity and it's making an impact.

Women are now able to enter high-level positions thanks to initiatives such as We-Fi and Women in Finance Charter. This is great news for women as well as the financial sector.



My Website: https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf