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Farnoush Farsiar - Why are women so scarce in finance?
Women are increasingly breaking through barriers and experiencing huge success in a variety of sectors. However, the sad fact is that the percentage of women employed in finance remains astonishedly small. It's not likely to change, unfortunately.

Deloitte Web Insights indicates that only 31 percent of workers in the financial industry will be women by 2030. This raises the obvious question: why are there such a low number of women working in finance. Although there are many theories as to why this is the case, we would like to hear from someone who has been in the field for a long time. Farnoush Farnoush is a committed financial professional who is a champion for women's empowerment.

How Many Women are there in Finance?

The U.S. employs 57 percent women However, just 24% hold financial jobs. Farnoush Farsiar It is predicted that the number will grow to 28% in the next ten-years, from 24% in 2021. However, it is well short of the parity.

This is not a problem only for women. Farnoush Farsiar said that it's also a problem in the business world. Farsiar noted that teams that have diverse leadership styles perform better compared to those that have fewer perspectives. "So it's not just important for women to be included in these positions and it's equally important for the nation overall."

There are many theories about how women working in the finance sector aren't represented. The most popular hypothesis is that the financial sector is too masculine and competitive for women to make it into. Another theory suggests that careers in finance are discouraged for women by peers or parents.

Farsiar believes the source of the issue lies in the way women are raised from a young age. "Women are taught from a young age that they must be risk-takers, not caregivers. "We're taught to play it safe, not to risk our lives. That's not the best method to pursue the field of finance.

It's not just the fact that women are taught to take care of their children; they're also socialized to be pleasant to others. Farsiar says that women are taught to be friendly and to avoid conflicts. "But in the world of finance, you need to be capable of standing up for yourself. You should be able to speak up for your thoughts.

Farsiar asks , where are all the women employed in finance?
The lack of women in finance is particularly evident at the top levels of the industry. According to a study by Pew Researchers, only 10% of finance jobs are employed by women in top executive post. There are only 11.5 percent of women sit on the top financial boards.

This imbalance has real-world impacts on women who work in finance. They are more likely to be promoted than their male colleagues are promoted, and are more likely to leave the field.

The good news is that women are slowly, but surely becoming older. Farnoush Farsiar believes it is due in part to the #womenshould Campaign, which has created a greater awareness of the issue of inequalities. Farsiar affirms that she believes the #MeToo movement also had a significant impact. Women are now more vocal and demanding change.

Barriers to Women Getting into Finance
There are a number of barriers preventing women from getting into finance. One of the most significant obstacles is the lack of role models. This makes it challenging for women in finance to become the only females within their departments.

Farsiar explained that being the sole woman in a room could be quite daunting. "You feel that you have to be perfect each time, and you cannot be a fool."

Another obstacle is another one is the "old guys' club" mentality in many finance businesses. This is the belief that men are superior to women and that they should encourage each other.

Farsiar admits that there's an element of truth to this assertion. https://store.nwbbc.com/activity/p/22473/ "I have seen it happen personally. Men will be promoted by men, even if they are more competent.

This old boys' club mentality can also result in sexual harassment and discrimination. Financial women often receive demeaning comments and unwelcome advances from their male colleagues.

Farnoush Farsiar says, "It is definitely an issue." "Women in finance are often treated like objects, and it's very difficult to get ahead when you're being treated like that."

The final obstacle is the absence of flexible working hours. Women tend to be more likely to have the responsibility of caring for elderly parents and children. https://www.businessfast.co.uk/farnoush-farsiar-explains-why-queen-elizabeth-is-an-excellent-example-of-female-leadership/ To be able to balance home and professional lives, they will need flexible work arrangements.

"Finance is a very demanding business, and it's difficult to manage the demands of your job with other obligations. Women frequently have to pick between their work and family.

These obstacles make getting high-level positions in the financial services industry extremely difficult for females. There are a variety of initiatives that are being implemented to address this.

Farnoush Farsiar believes that the future is bright for women working in finance.
There are numerous reasons to feel optimistic about the future of the financial industry. There are many initiatives designed to increase the number of females working in the financial sector and to help them reach higher positions.

One example of such an initiative is the Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments and the World Bank Group. Farnoush Farsiar We-Fi supports women-led companies in emerging nations by offering funding and assistance.

Farsiar stated that this is an excellent initiative as it gives women the tools needed to grow and start their own business. "It also helps women build networks and networks with other women who have succeeded."

Another initiative is the Women in Finance Charter. Farnoush Farsiar The U.K. government launched it in the year 2016. The Women in Finance Charter aims to encourage the inclusion of women in financial institutions.

Farsiar believes the Women in Finance Charter represents a significant step forward. "It is encouraging financial institutions to work on gender diversification, and is already creating a positive change."

Women are more likely to be promoted and get the chance to hold senior financial positions because of initiatives like We-Fi. This is good news for both the financial and women sectors.



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