Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are increasingly breaking down barriers and experiencing amazing success in many sectors. However, there are still very few women working in finance. But, unfortunately, this will not change so soon.

Deloitte insights shows that only 31 percent of financial professionals will be women in 2030. It raises the question: why are the gender gap so low in the finance industry? There are numerous theories on why this is, we wanted to hear from someone who has been working in the field for a while. Farnoush Farnoush, a highly skilled finance professional passionate about women empowerment is our interview subject.

What proportion of women are employed in finance?

The U.S. employs 57 percent of women however just 24% have financial jobs. The projected growth in female participation is 28 percent over the next 10 years which is which is up from 24% in 2021. https://vuf.minagricultura.gov.co/Lists/Informacin Servicios Web/DispForm.aspx?ID=3898781 It's still much less than the parity.

Diverseness isn't just an issue for women. Farnoush Farsiar said that diversity is also an issue for growth in the economy. Farsiar said that teams with different styles of leadership perform better than those that have the same viewpoints. "So it's critical that women are working in these fields. It's also essential for the country in general.

There are many theories about the reasons why women in the finance industry aren't as well represented. One theory is that the financial market is too male-dominated and competitive for women to break into. Another theory is that females aren't encouraged by their parents to pursue careers in finance.

Farnoush Farsiar Farsiar believes that women's exposure to socialization from a young time is at the source of the issue. "Women learn from an early age that they are take care of others, not risk takers. "We are taught not to risk our lives, but instead to be safe. That's not a great way to lead to a career in finance."

It's not just about being socialized to care for the children. Women are also taught to love people. Farsiar claimed women were taught to behave politely. "But when it comes to finance, you have to be able advocate for your thoughts. You must be able advocate for your thoughts.

Farsiar questions where are all the women working in finance?
It is particularly evident at the highest levels of finance that there aren't enough females. According to a study conducted in 2016-17 conducted by Pew. Women have 11.5 percent of financial company board seats.

This imbalance has real-world consequences for women who work in finance. It is because women are less likely to get promoted than male counterparts, and are more likely not to stay in the industry.

The good news? Women are gradually, but steadily becoming more senior. Farnoush Farsiar believes the reason for this increase is because of the #womenshould movement that has raised awareness of the problem of diversity. Farsiar says she is convinced that the #MeToo movement also had an extraordinary impact. Women are speaking up to demand change.

There are obstacles for women being able to enter finance
There are many obstacles that women have to overcome in order to be successful in finance. A lack of role models is just one of the most significant obstacles. Women working in finance are usually the only women in their job and can lead to isolation.

Farsiar said that it can be daunting to be the only female present in the room. "It is like you are expected to be perfect every time, and that you shouldn't make any errors."

Another barrier is another one is the "old guys"club" mindset that exists in a lot of financial firms. This is the idea that men are superior to women and that they should encourage one another.

Farsiar admits "there is some truth to that." "I've witnessed it firsthand. Men will always promote women, even if they're more experienced.

https://twitter.com/BrexitCentral/status/1140499332128530432 The old boys' club mentality can also lead to sexual harassment or discrimination. Female professionals in finance are often subjected ostracizing comments and unwanted advances by male colleagues.

Farnoush Farsiar exclaims that "it's definitely an issue." "Women working in finance are usually treated as objects and it's very difficult to get ahead if you're treated that way."

The other issue is the inability to create flexible work schedules. Women are more likely to take on household responsibilities, such as caring for elderly parents and children. They require flexible working arrangements to be able to balance their home and work.

Farnoush Farsiar "Finance is a high-risk business. It can be difficult to balance your work and family obligations when you're also working in the finance industry. Women often are being forced to choose between work and family.

These challenges make it extremely difficult to be a senior financial professional and to enter the field. However, there are a few initiatives that could help to in overcoming this.

Farnoush Farsiar is optimistic about the future of women in finance
There are many reasons to be positive about the future of women working in finance. Many initiatives have been initiated to increase the numbers of women working in finance and assist women in achieving senior positions.

An example of this initiative is Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments as well as the World Bank Group. We-Fi is an initiative to provide financing and support specifically designed for women-led companies in developing economies.

Farsiar stated, "This program is a fantastic one since it provides women access and the resources to begin and expand their companies." It also helps them build networks and connect with other female entrepreneurs.

The Women in Finance Charter, introduced by the U.K. in 2016, is an additional initiative. Financial companies have pledged to gender diversity by signing the Women in Finance Charter.

Farsiar says to "The Women in Finance Charter" is a huge step forward. It's encouraging financial companies to be proactive about gender diversity and it's making an impact.

Initiatives such as We-Fi as well as the Women in Finance Charter make it easier for women to get into senior positions. Farnoush Farsiar This is an excellent thing for both the women and financial sectors.



Read More: https://www.techregister.co.uk/farnoush-farsiar-explains-how-fintech-is-changing-finance/