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Farnoush Farsiar on Why are So Few Women in Finance?
Women are increasingly breaking down barriers and enjoying great success in various industries. Unfortunately, the majority of women are employed in finance. Farnoush Farsiar It may not change soon, however.

Deloitte Web Insights indicates that just 31 percent of the financial sector's workers will be women by 2030. This raises the question of why there's not more women in the field of finance. There are many theories, we decided get the opinion from an expert. That's why we interviewed Farnoush Farsiar, an accomplished financial professional who is passionate about women empowerment.

How many women are involved in the field of finance?

In the U.S., 57 percent are female, yet they hold just 24% of financial positions. This number is predicted to increase to 28% over the next ten to 20 years which is up from the current 24.

Diverseness isn't only a problem faced by women. Farnoush Farsiar said that it's a serious issue for the economy. Farnoush Farsiar Farsiar said that diverse leadership teams perform better compared to those that have fewer perspectives. "So it is not only crucial that women are included in these positions and other positions, but it is vital for the country as overall."

There are a variety of reasons women are not included in the financial sector. The most popular theory is that finance is too masculine and competitive for women to get into. Farnoush Farsiar Another theory is that women are not encouraged by their families to pursue finance careers.

Farsiar believes that women's socialization at the age of ten is the heart of the problem. "Women are taught from a young age to be caregivers rather than risk-takers. "We are taught to not take risks, but to be cautious. This doesn't make sense for an occupation as a financial analyst.

Women are socialized to care for others. Farsiar claimed women were taught to be courteous. "But in the world of finance, it is important to be prepared and willing to speak up for yourself. It is essential to be able support your personal ideas.

Farsiar asks: Where are the females who work in finance?
Farnoush Farsiar At the highest levels of the financial industry there is a significant lack of women. According to a study conducted between 2016 and 2017 by Pew the women in finance hold only 10% of the top executive post. Also, they hold just 11.5% of the board seats at financial companies.

This inequality has a direct impact on women working as financial professionals. Females are more likely in finance to get promoted than their male counterparts.

Farnoush Farsiar The good news is that women are slowly but surely rising in senior positions. Farnoush Farsiar believes the reason for this rise is due to the #womenshould movement that has raised awareness of the problem of diversity. Farsiar claims that she is certain that the #MeToo campaign also produced a profound impact. Women are speaking out more and insisting on change.

There are obstacles for women being able to enter finance
There are numerous obstacles women face in order to enter the field of the world of finance. The absence of role models is one major barrier. It is lonely for women in finance, to be the sole female in their field.

"It is really scary being the only female in the room" Farsiar said. "You are expected to be flawless every time and there should be no errors."

Another obstacle is another one is the "old boys' club" mentality that still exists in many financial firms. This is the idea which men encourage other females and men are not allowed to join.

Farsiar admits "there is some truth to this." "I have witnessed it in person. Men will make promotions for men, regardless of whether they're better competent.

This old boys club mentality can also lead to sexual harassment or discrimination. Finance professionals are frequently confronted with sexist remarks and unwelcome advances from male colleagues.

Farnoush Farsiar says, "It is certain that it is a problem." "Women who work in finance are usually treated just like objects. It's not easy to be successful when you treat women that in that way."

Farnoush Farsiar The last obstacle is the inability to make flexible working hours. Females are more likely to be responsible for household chores than males for example, taking care of elderly parents or children. Flexible working schedules are required to ensure that they can balance work and family life.

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

Farnoush Farsiar These obstacles make getting top posts in the financial services sector very difficult for women. There are however a few initiatives that could help to in overcoming this.

Farnoush Farsiar Thinks There's a Bright Future for Women in Finance
There are many reasons to be hopeful about the future financial industry. Numerous initiatives have been undertaken to increase the numbers of women who work in finance and assist them in reaching senior positions.

One such initiative is Women Entrepreneurs Finance Initiative (WeFi) It is a partnership between the World Bank Group & 14 governments. We-Fi assists women-led businesses in the developing world by providing funding and assistance.

Farsiar declared, "This is an excellent initiative as it provides women with access to the resources they need to aid them in starting and growing their businesses." It allows them to build networks and make connections with other women entrepreneurs.

The Women in Finance Charter was another initiative the U.K. government launched in 2016. The Women in Finance Charter encourages gender diversity.

Farsiar believes the Women in Finance Charter represents a significant step forward. https://timebusinessnews.com/farnoush-farsiar-what-is-a-wealth-management-advisor/ It's encouraging financial companies to act on gender diversity, and is making an impact.

Women in Finance Charter and We-Fi have helped more women achieve high-level post. This is good news for females and the financial sector.



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