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Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking through barriers and enjoying huge success in a variety of industries. The sad truth is that there are still very few women working in finance. Unfortunately, this may not change so soon.

Deloitte's research shows that only 31 percent of finance professionals will be female by 2030. This raises the issue of why there aren't more women in the field of finance. While there are many theories, we decided to hear the opinions from an expert. Farnoush Farnoush an accomplished finance professional who is deeply committed to women's empowerment is the reason we sat down with her.

What is the percentage of women employed in finance?

The U.S. employs 57% women however only 24% hold financial jobs. The number is projected to grow to 28% over the next 10 years increasing from 24% in 2021 but much less than parity..

Diversity isn't only an issue that affects women. Farnoush Farsiar believes it's also a threat to the economy. Farsiar said that teams with different styles of leadership perform better than ones that have the same views. "So it's not just important for women to be represented in these professions and it's equally important for the country overall."

There are a myriad of theories on why women are underrepresented in the finance industry. One theory is that the financial industry is highly male-dominated and competitive, making it difficult for women to get into. Another theory says that the parents and their peers aren't encouraging women to consider finance careers.

Farsiar believes that the source of the problem lies in the way women are raised at a young age. https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf "Women are taught from a young age to be caretakers , rather than risk-takers. "We are taught to stay safe and not take chances. This isn't the most effective method to pursue an investment career.

Women are taught socially to take care of others. Farsiar says that women are taught to be polite and avoid conflict. "But you must be able to defend your own ideas regarding finance. You need to be able advocates for your own ideas.

Farsiar asks: Where are the females working in finance?
Women are underrepresented in finance, particularly at the highest levels. A study conducted by Pew research found that women account for only 10% of the executive roles. Women are the holders of 11.5 percent of financial company board seats.

This is a real-world issue for women working in finance. Women are less likely to be employed in finance to get promoted than their male counterparts.

It's good to know that there's an increase in the number of women who are employed in higher positions. Farnoush Farsiar believes the reason for this rise is due to the #womenshould campaign, which has increased awareness of the issue of diversity. Farsiar said she is "convinced" that the #MeToo Movement has had a huge impact. Women are now starting to assert their rights and demand change.

Women's financial access is a challenge for women.
There are many barriers that hinder women from entering the world of finance. A lack of role models for women is one of the most significant obstacles for women entering finance. This can make it hard for women who work in finance to become the only females within their departments.

Farsiar acknowledged that it's daunting to be in a room with just one person. "You are expected to be perfect every time and there should be no errors."

Another issue is another one is the "old boys' club" mindset that persists in many financial firms. This is the belief that men favor men over women and women are left out.

Farsiar acknowledges that there's much to this claim. Farnoush Farsiar "I have witnessed it in person. Men will promote other men even when they are better qualified."

This mindset of the old boys can lead to discrimination and harassment of women. Women in finance are often targeted for sexist comments and unwelcome advances by their male counterparts.

Farnoush Farsiar declares, "It's certainly an issue." "Women working in finance are typically treated like objects. It's difficult to make progress when you're treated this way."

The last issue is the inability to make flexible work schedules. Females are more likely be responsible for family obligations than men for example, taking care of elderly parents or children. Flexible working schedules are required for women to be able to keep a balance between work and family.

"Finance is a very challenging business. It can be challenging to manage these demands even when you are also juggling other obligations. Many women are forced to choose between their work or their family.

This makes it challenging for women to get into the financial industry and to hold the top posts. There are a variety of initiatives underway to overcome this.

Farnoush Farsiar Farnoush Farsiar is optimistic about the future of women working in finance
There are many reasons to be optimistic about the future financial industry. Numerous initiatives have been undertaken to increase the number of women who work in finance and assist them to reach higher positions.

One of these initiatives is the Women Entrepreneurs Finance Initiative (We-Fi), a partnership between the World Bank Group and 14 governments. We-Fi provides financing and assistance for women-owned enterprises in the developing countries.

"This is an excellent initiative since it gives women access to the resources they need to establish and grow their business," Farsiar said. It helps them create networks and network with other women entrepreneurs.

The Women in Finance Charter, introduced by the U.K. in 2016, is a different initiative. The Women in Finance Charter is a commitment of financial firms to promote gender diversity.

https://www.talk-business.co.uk/2022/11/23/farnoush-farsiar-on-queen-elizabeth-iis-impact-on-uk-finances/ Farsiar believes that the Women in Finance Charter represents a significant step forward. "It's encouraging financial firms to take action on gender diversity and is making a difference."

Women tend to be more likely to be promoted and are more likely to hold senior financial positions thanks initiatives like We-Fi. Farnoush Farsiar This is great news for both the financial and female sectors.



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