Notes

Farnoush Farsiar - Why are there so few women in finance?
Women are breaking down barriers and are becoming leaders in many industries. The sad truth is, yet, women are a minority of finance professionals. This isn't likely to improve, which is unfortunate.

Deloitte insight estimates that 31% of the financial industry employees will be women in 2030. This begs the question what is the reason there aren't more women working in the finance industry? Although there are several theories, we decided learn the views of an expert. Farnoush Farnoush a successful finance professional who is passionately committed to women empowerment was the reason we sat down with her.

What percentage of women are employed in finance?

The U.S. employs 57% women However, only 24% hold jobs in the financial sector. The expected increase in female participation is 28 percent over the next ten years which is which is up from 24% in 2021. It's still way below parity.

It's not an issue only for women. Farnoush Farsiar has stated that diversity can be a problem for economic growth. Farsiar claimed that teams that have different leadership styles are more successful than teams that share the same perspectives. "So it's not just important that women are included in these positions but also for the nation overall."

Farnoush Farsiar There are numerous theories that provide the reason women aren't being represented in the financial industry. One theory is that the financial sector is very male-dominated, competitive and challenging for women to enter. Another theory is that careers in finance are discouraged for women by peers or their parents.

Farsiar believes socialization of women in their early years is the cause of the issue. "Women are taught from an early age to be caretakers rather than risk-takers. "We are taught to stay safe and not to take risks. It's not conducive to a career of finance.

It's not only that women are taught to be caregivers and caregivers; they're also taught to be pleasant to others. Farsiar said women were taught to be courteous. "But you must be able advocate for your own financial ideas. You must be able advocate for your thoughts.

Farsiar questions where are all the women who work in finance?
The absence of women in finance is especially pronounced at the top levels of the business. Farnoush Farsiar According to a study by Pew Researchers only 10% are held by women in senior executive posts. Women also hold only 11.5 percent of board seats in financial firms.

https://vuf.minagricultura.gov.co/Lists/Informacin Servicios Web/DispForm.aspx?ID=3898781 This is a real-world issue for women working in finance. This means that women are less likely than males to be promoted and are more likely to leave finance.

The positive side is that the proportion of women who hold senior positions is gradually but steadily growing. Farnoush Farsiar believes that this is due in part to the #womenshould movement, which has brought about an increased awareness of the issue of diversity. Farsiar says she believes that the #MeToo movement also had an extraordinary impact. Women are beginning to speak out and call for changes.

Financial barriers that prevent women from taking up finance careers
There are many barriers that prevent women from entering finance. The lack of role models for women is among of the greatest barriers to women entering finance. Women in finance are often the only woman working in their area and can be lonely.

Farsiar acknowledged that it's difficult to be in a room with just one person. "It feels like you have to be flawless every time, and you shouldn't make any errors."

Farnoush Farsiar Another barrier is another one is the "old boys' club" mentality that is still prevalent in many finance firms. This is the belief that men favor men over women, and women are left out.

"There's a lot of truth in that," Farsiar admits. "I've seen it happen firsthand. Men will be able to promote men, even if they are better qualified."

The old-fashioned mentality can result in sexual harassment and discrimination. Female professionals in finance are often confronted with ostracizing remarks and unwelcome advances by male colleagues.

Farnoush Farsiar declares "It's certainly an issue." "Women in the field of finance are frequently treated like objects, and it's very difficult to succeed when being treated like that."

The final obstacle is the difficulty in finding flexible working arrangements. Women are more likely to take on the responsibility of taking care of elderly parents or children. These women need flexible working arrangements to allow them to balance work and family.

Farnoush Farsiar "Finance has a high-stakes industry. It is difficult to handle your obligations while working in the finance industry. Farnoush Farsiar Women are often forced to choose between their work and family."

This makes obtaining top post in the financial service industry extremely difficult for females. However, there are several initiatives that are working to change this.

Farnoush Farsiar Thinks There's a bright future for women in Finance
There are plenty of reasons to believe that women will continue to work in financial services. Numerous initiatives have been initiated to increase the number and reach the highest levels of the financial sector.

One of these initiatives, Women Entrepreneurs Finance Initiative is a joint venture with the World Bank Group with 14 governments. We-Fi offers financing and support for women-owned enterprises in the developing countries.

Farsiar said, "This program is a fantastic one since it provides women access and the resources to start and grow their companies." "It will also assist in building networks and connect with other women who are successful."

The Women in Finance Charter, created by the U.K. in 2016, is another initiative. The Women in Finance Charter aims to encourage gender diversity in financial institutions.

"The Women in Finance Charter is a great step forward," Farsiar encourages. https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/ "It is encouraging financial companies to make changes to improve gender diversity, it's making strides."

Initiatives such as We-Fi as well as the Women in Finance Charter make it easier for women to climb into senior roles. This is great news for women as well as the financial industry.



Here's my website: https://vuf.minagricultura.gov.co/Lists/Informacin Servicios Web/DispForm.aspx?ID=3898781