Notes

Farnoush Farsiar - Why are there so few women in finance?
Women are breaking through more barriers and enjoying huge success in various areas. Unfortunately, only a few women work in finance. Farnoush Farsiar It's unlikely to change, unfortunately.

According to Deloitte Insights, in 2030 the number of the employees of the financial sector will be women. This raises the question: Why do we have such a low number of women working in finance. There are numerous theories. However, we needed to hear from an expert. https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf That's why we interviewed Farnoush Farsiar, an accomplished finance professional who is passionate about women empowerment.

How many women are in the field of finance?

The U.S. has 57% female workforce but only 24% of financial jobs. This figure is expected to grow to 28% within the next ten to 20 years increasing from 24% currently.

Diversity isn't only an issue that affects women. It's also a problem in the business world, according to Farnoush Farsiar. Farsiar said that teams with different leadership styles are more successful than teams that share the same perspectives. "So it's not just important that women are involved in these fields; it's also critical for the country in general."

There are several theories about the reason women aren't represented in the financial industry. One theory suggests that the financial industry is too male-dominated, competitive and difficult for women to get into. Another theory is that women aren't encouraged to pursue careers in finance, whether by their parents or their peers.

Farsiar believes the root of the issue lies in the way women are treated at a young age. "Women are taught at an early age that they must be risk-takers rather than caretakers. "We are taught to be secure and to not risk it all. This doesn't work for the field of finance.

Women are socialized to take care of others. Farsiar states that women are indoctrinated as friendly and to avoid conflicts. "But in the world of finance, it is important to be prepared and willing to speak up for yourself. You must be able advocate for your ideas.

Farsiar Asks Where are all the women in finance?
Particularly at the top of the finance industry and in the top positions of finance, the absence of women in finance ranks is alarming. According to a study by Pew Researchers only 10% of finance jobs are females in senior executive post. They also hold only 11.5 percent of board seats at financial firms.

This inequality has real-world effects on women who work in finance. Women are less likely in finance to be promoted than male counterparts.

It's great to know that there's an increasing number of women in high-level positions. Farnoush Farsiar believes this partly due to the #womenshould campaign which raised awareness of the dearth of diversity. Farsiar says she is certain that the #MeToo campaign had an extraordinary impact. Women are speaking out to call for change.

Financial barriers that prevent women from pursuing careers in finance
There are many obstacles that women have to overcome in order to be successful in financial services. Lack of role models is among of the most significant obstacles for women pursuing finance. Financial women are often the only ones in their departments, which can lead to feeling isolated.

Farsiar admitted that it can be nerve-wracking to be the only woman in the room. "It makes you feel like you need to be perfect every time, and you should not make any errors."

Another issue is the men's club mentality which still exists in a lot of financial institutions. This is the belief in that men support other men and women are excluded.

Farsiar acknowledges that there's an element of truth to this assertion. "I've observed this personally. Farnoush Farsiar Men will encourage other men, even when women are more qualified.

This old boys' club mentality can also result in discrimination and harassment of women. Female finance professionals are frequently targeted for ostracizing remarks or unwanted advances by male colleagues.

Farnoush Farsiar declares, "It's certainly a problem." "Women working in finance are typically treated as commodities, making it very difficult for them to be successful."

The last issue is the lack of flexible working hours. Women tend to be more likely to have the responsibility of caring for parents who are elderly and children. To balance their home and work life they'll require flexible work schedules.

"Finance is a very challenging industry. It isn't easy to manage these demands even when you are also juggling other obligations. Women are often forced to choose between work and family.

This makes obtaining top post in the financial service industry very difficult for females. However, there are a number of initiatives being implemented to overcome this.

Farnoush Farsiar Thinks There's a Positive Future for Women in Finance
There's plenty of reason to believe in the future of women's careers in finance. Numerous initiatives have been undertaken to boost the number of women employed in finance, and also to help them in reaching senior positions.

One such initiative is the Women Entrepreneurs Finance Initiative (We-Fi), which is a collaboration with the World Bank Group and 14 governments. We-Fi provides financing and support to women-owned companies in emerging countries.

https://www.talk-business.co.uk/2022/11/23/farnoush-farsiar-on-queen-elizabeth-iis-impact-on-uk-finances/ Farsiar explained, "This initiative is great because it allows women access to the resources they need in order to start and grow businesses." "It also helps build networks and meet with women who have made it successful."

Another initiative is the Women in Finance Charter, which the U.K. government launched in 2016. The Women in Finance Charter encourages gender diversity.

"The Women in Finance Charter is an important step in the right direction," Farsiar encourages. It encourages financial firms and other businesses to consider gender diversity.

Through initiatives such as We-Fi and the Women in Finance Charter, more women get to enter and reach senior positions. https://bmmagazine.co.uk/business/farnoush-farsiar-on-queen-elizabeth-inclusion-and-diversity/ This is great news for both the financial and women sectors.



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