Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking through barriers and achieving amazing success in a range of fields. Unfortunately, the shocking reality is that only a tiny proportion of women are employed in finance. It is likely that this trend won't change anytime soon.

Deloitte's insights suggests that only 31 percent of financial professionals will be female by 2030. It begs the question how come there isn't a lot of women in finance? There are a myriad of theories on the internet but we wanted learn from an expert on the subject. Farnoush Farnoush a highly successful financial professional who is passionately committed to women empowerment was the main reason we spoke to her.

How many women work in Finance?

In the U.S., women make up 57% of all workers however, they are able to have only 24% of financial jobs. The number is projected to grow to 28% in the next ten years increasing from 24% in 2021--still way below parity..

Diverseness is not only a problem for women. Farnoush said it's a serious issue for the economy. "Diverse leadership teams perform better than teams that do not have as broad a spectrum of opinions," Farsiar said. "So it's not just vital that women are included in these positions and other positions, but it is crucial for the country as in general."

There are many theories about how women working in the financial industry aren't represented. The most popular theory is that the financial industry is too male-dominated and competitive for women to enter. Another theory suggests that parents and peers don't encourage women to choose financial careers.

Farsiar believes that the root of the issue is how women are socialized from an early age. "Women are taught from a young age that they should be risk-takers rather than caretakers. Farnoush Farsiar "We are taught not to make a risk, but rather to be cautious. It's not conducive to the field of finance.

It's not enough for women to be educated as caregivers. Farnoush Farsiar They're also taught to be people-pleasers. Farsiar says that women are indoctrinated as friendly and to avoid conflict. "But you must be able to advocate for your own ideas in finance. It is crucial to be able to defend your own thoughts.

Farsiar asks where are the females employed in finance?
At the top of the financial sector there is a significant lack of women. According to a report by Pew Researchers, only 10% are employed by women in top executive posts. In addition, they only hold 11.5 percent of seats on the boards of financial firms.

This is a real-world issue for women working in finance. Farnoush Farsiar This is why women are less likely than men to be promoted and are more likely to leave the finance industry.

Farnoush Farsiar It's great to know that there is an increasing number of women who are employed in higher positions. Farnoush Farsiar believes part of the increase in women taking on senior positions is due to the #womenshould campaign which raised awareness about the importance of diversity. Farsiar states that she believes the #MeToo movement had an equally significant impact. Women are speaking out to make a difference.

The obstacles women face when trying to get into the world of finance
There are many obstacles that prevent women from getting into finance. A lack of role models is one of the most significant obstacles for women pursuing finance. Finance professionals are typically the only woman in their job, which can be isolating.

Farsiar admitted that it's nerve-wracking to be the only woman present in the room. "You feel as if you're being expected to be perfect all of the time, and you're not allowed to make a mistake."

Another obstacle is "old boys' club" A mindset that is prevalent in many finance companies. This is a reference to the notion that men favor men over women, and women are left out.

Farsiar admits that "there's a lot more truth to that," he says. "I've seen it happen firsthand. Men will promote other men, even if they are better qualified."

This"old boys' club" mentality can also lead to discrimination and harassment of women. Females in the finance industry are often subjected to demeaning comments and unwelcome advances by their male colleagues.

Farnoush Farsiar declares, "It's definitely an issue." "Women in Finance are often treated like objects. It's difficult to get ahead when you're treated this way."

The other issue is the inability to create flexible work schedules. Females are more likely than males to have household responsibilities, like caring for elderly or children parents. This means that they require flexible working arrangements to balance their work and home life.

"Finance can be a demanding job. It's difficult to manage other obligations. Women are often forced to make a choice between their careers and family.

These barriers make it hard for women to get into the financial sector and hold high-level post. There are numerous initiatives underway to overcome this.

Farnoush Farsiar is optimistic about the future of women in finance.
There are many reasons to be hopeful about the future financial industry. Several initiatives are in place to boost the number of women working in the finance industry and aid them in reaching senior roles.

Women Entrepreneurs Finance Initiative(We-Fi) is one such initiative. It's a collaboration between World Bank Group and 14 countries. We-Fi helps finance and support women-led businesses in the developing world.

Farsiar said, "This is an excellent initiative since it gives women access to resources that will help them start and grow their businesses." "It can also help build networks and networks and also meet with women who are successful."

The Women in Finance Charter was another initiative that the U.K. government launched in the year of 2016. The Women in Finance Charter promotes gender diversity.

Farsiar believes that "The Women in Finance Charter" is a significant step in the right direction. It urges financial companies and other businesses to consider gender diversity.

Farnoush Farsiar Initiatives like We-Fi or the Women in Finance Charter make it easier for women to climb into top positions. This is great news for both the women and financial sectors.



Here's my website: https://www.thegazette.co.uk/company/10947406