Notes

Farnoush Farsiar - Why are women so scarce in finance?
Women are breaking through barriers and achieving great successes in a variety of industries. However, there are still very few women in finance. This is a sad fact that won't change any time soon.

Deloitte Web Insights shows that just 31 percent of workers in the financial industry will be female by 2030. https://bmmagazine.co.uk/business/farnoush-farsiar-on-queen-elizabeth-inclusion-and-diversity/ This raises the question of why there aren't more women working in finance. There are many theories. https://notes.io/qqeM6 We wanted to learn more from an expert. We conducted an interview with Farnoush Farsiar, an accomplished finance professional who is passionate about women empowerment.

Are there women in finance?

The U.S. is home to 57% of the workforce. But, they only hold 24% in financial work. It is predicted that this number will rise to 28% within the next 10 years, from 24% by 2021. But, they're significantly below the national average.

Diversity isn't only an issue that affects women. Farnoush Farsiar has said that it's a serious issue for the world of business. Farsiar said that leadership teams with diverse perspectives are more effective than those with fewer perspectives. "So it's important that women are in these roles. It's also crucial for the nation."

There are many theories on the reasons why women in the financial industry aren't as well represented. One theory is that the financial sector is too male-dominated, competitive and challenging for women to enter. Another theory is that the parents and their peers aren't encouraging women to consider career paths in finance.

Farsiar believes that women's socialization at an early age is the root of this problem. "Women at a young stage are taught that they should be risk takers but caretakers. "We are taught to stay safe and not take chances. Farnoush Farsiar It's not conducive to an investment career.

Women are socialized to take care of others. https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/ "Women are indoctrinated to be courteous and reduce conflicts," Farsiar adds. "But in the field of finance, you need to be capable of standing up for yourself. It is essential to be able support your own thoughts.

Farsiar What are the fate of all the finance women?
At the highest levels of the financial industry there is a significant lack of women. According to a survey conducted in 2016 and 2017 by Pew the women in finance hold just 10% of the top executive posts. Women also hold only 11.5 percent of the board seats at financial companies.

This disparity has real-world consequences on women working in finance. They are more likely not to get promoted than male counterparts, and are also more likely to leave the industry altogether.

The good news is that women are steadily however, steadily, advancing in higher posts. Farnoush Farsiar believes this partly because of the #womenshould campaign which raised awareness of the absence of diversity. Farsiar claimed that she was "convinced" that the #MeToo Movement had an enormous impact. Women are beginning to speak out and call for changes.

Financial Access Barriers for Women
There are numerous obstacles that hinder women from entering finance. One of the biggest barriers is the absence of role models. Finance women often are the only women working in their area and this can cause them to be lonely.

Farsiar stated that it can be intimidating to be the only female in the room. "You feel as if you're being expected to be perfect all of every moment, and that you mustn't make any mistakes."

Another obstacle is the traditional men's club mentality, that persists in many financial firms. This is the belief that men favor men over women while women are left out.

Farsiar acknowledges "there is some truth to this." "I have witnessed it firsthand. Men will be arousing to other men even if women are more qualified.

This old boys' club attitude can lead to discrimination and harassment of women. Financial women often receive demeaning remarks and unwelcome advances by their male counterparts.

Farnoush Farsiar declares, "It's definitely a problem." "Women in the field of finance are frequently treated as objects, and it's very hard to make it in the financial world when you're being treated that way."

The other issue is the inability to create flexible work schedules. Women are more likely to take on family responsibilities like 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.

https://professionalparaplanner.co.uk/tag/advice-threat/ "Finance is a stressful job. It can be difficult to manage other responsibilities. Women often are forced to choose between family and work.

These obstacles make it extremely difficult for women to enter the finance industry and attain senior positions. There are however a few initiatives that can help make a difference.

Farnoush Farsiar Thinks There's a Positive Future for Women in Finance
There are numerous reasons to be hopeful about the future of women working in finance. Numerous initiatives have been undertaken to boost the number of women working in finance and assist them in reaching senior positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one of the initiatives. It's a partnership with World Bank Group and 14 countries. We-Fi provides financing and support to women-led businesses in the developing world.

"This is an excellent initiative because it gives women access to the tools they need to start and grow their business," Farsiar said. "It also helps build networks, and make connections with other women who have made it successful."

The Women in Finance Charter was another initiative that the U.K. government launched in the year 2016. The Women in Finance Charter is a pledge by companies in the financial sector to promote gender diversity.

Farsiar urges that "The Women in Finance Charter" is a huge step forward. Financial companies are being encouraged to take action on gender diversity and has made an impact.

Women tend to be more likely to be promoted and get the chance to be employed in high-level financial positions due to initiatives such as We-Fi. This is an excellent thing for both the women and financial sectors.



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