Notes

Farnoush Farsiar: Why are there so few women in finance?
Women are increasingly breaking through barriers and achieving great success in various sectors. It is a sad fact, yet, women only make up a tiny percentage of financial professionals. It may not change soon, however.

Deloitte's insights states that by 2030 only 31 percent of employees will be female financial industry employees. The question is what is the reason there aren't more women in financial services? Farnoush Farsiar Although there are many theories on the reasons for this but we were looking for an opinion from someone who's been working in the field for a while. Farnoush Farnoush is a fervent finance professional and an advocate for women's empowerment.

Are there women working in finance?

The U.S. has 57 percent of the workforce is female however only 24% financial jobs. https://www.thegazette.co.uk/company/10947406 The projected growth in women's participation is 28 percent over the next ten years, which is up from 24% in 2021. However, this is far short of parity.

The lack of diversity isn't only a problem for women. Farnoush said it's also a problem in the world of business. Farsiar stated that diverse leadership teams have more impact than teams who have fewer perspectives. Farnoush Farsiar "So it's critical to have females in these professions. It's also essential for the country in general.

There are a variety of reasons women are not included in the financial sector. One hypothesis is that the financial industry is too male-dominated and competitive for women to break into. Another theory is that peers and parents don't encourage women to choose finance careers.

Farsiar believes the root cause of the problem is how women are socialized at the age of a child. Women are raised to take care of their children and take responsibility for their safety. "We are taught to not take risks, but to play it safe. This isn't a good way to go about the job of an analyst in finance.

It's much more than being taught to look after their children. Farnoush Farsiar Women also learn to love people. Farsiar states that women are indoctrinated as courteous and are taught to reduce conflicts. "But when it comes to finance, you need to be able to advocate for your own ideas. You need to be able advocate for your own ideas.

Farsiar - Where is all the women in finance and accounting?
Particularly at the highest levels of finance there is a dearth of women working in finance is alarming. Women hold just about only 10% of executive-level jobs, according to a 2016-2017 study by Pew Research. They also hold only 11.5 percent of board seats at financial companies.

This is a real-world issue for women working in finance. Women are less likely to be promoted than their male counterparts, and are as well more likely to leave the industry altogether.

The good news is the increase in women holding the top positions is slow but steady. Farnoush Farsiar believes part of the increase in women taking on senior roles is due the #womenshould campaign which raised awareness about the importance of diversity. Farsiar declares that she's "convinced that the #MeToo campaign has also had an impact. Women are speaking out more and calling for changes.

The obstacles women face when trying to get into Finance
There are many obstacles that women have to overcome in order to enter the field of the world of finance. The lack of role models is just one of the most significant obstacles. Financial women are often the only ones in their department, which can cause being isolated.

"It is really scary being the only female in the room" Farsiar said. "You feel expected to be perfect in all situations and there can't be any mistakes."

Another issue is the "old boys' club" mentality that still exists in many financial firms. This is the idea that men are more favourable to other men, and women are not considered.

"There's plenty of truth to that," Farsiar admits. "I experienced it myself. Men are always promoting women even when they are more experienced.

This"old boys' club" mentality can also result in discrimination and harassment of women. Females in the finance industry are often confronted with sexist remarks and unwelcome advances from their male colleagues.

Farnoush Farsiar exclaims that "it's definitely an issue." "Women who work in finance are typically considered commodities, which makes it very difficult for them to achieve success."

The final obstacle is the absence of flexible work arrangements. Females are more likely than males to have family responsibilities, such as caring for elderly or children parents. To manage their family and professional lives, they will need flexible work arrangements.

"Finance is a very complex business, is difficult to manage when you have additional responsibilities. Women often have to choose between their career or family, as well as their professions.

These barriers make it very difficult for women to enter the financial sector and achieve senior posts. There are many initiatives underway to overcome this.

Farnoush Farsiar is optimistic about the future of women working in finance
There are good evidence to suggest that women will continue to be employed in the financial sector. Farnoush Farsiar Numerous initiatives have been undertaken to increase the numbers of women working in finance, and also to help them to reach higher positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one such initiative. It's a partnership between World Bank Group and 14 countries. We-Fi offers financing and support for women-led businesses in emerging countries.

Farsiar declared, "This is an excellent initiative since it gives women access to the resources they need to help them start and grow their business." It allows them to build networks and make connections with other women entrepreneurs.

The Women in Finance Charter, introduced by the U.K. in 2016, is a different initiative. The Women in Finance Charter is a pledge by financial firms to encourage gender diversity.

"The Women in Finance Charter is a significant step in the right direction," Farsiar encourages. Farnoush Farsiar "It's encouraging financial firms to be proactive about gender diversity, and it's making a difference."

With initiatives like We-Fi and the Women in Finance Charter, women are more likely to join and take on senior roles. This is good news for both women and the financial industry.



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