Notes

Farnoush Farsiar - Why are there so few women working in finance?
Women are increasingly breaking down barriers and achieving great results in various industries. Unfortunately, the shocking reality is that only a tiny proportion of women are employed in finance. However, this is unlikely to be changing anytime soon.

According to Deloitte Insights In 2030 only 31 percent of employees in the financial sector will be women. The question is how come there isn't a lot of women in the finance industry? There are a variety of theories. We wanted to hear from an expert. Farnoush Farnoush is a passionate financial professional who is a champion for women's empowerment.

Are there women working in finance?

In the U.S., 57% are female, yet they hold only 24% of financial positions. It is anticipated that this number will rise to 28% in the next 10 years, up from 24 percent in 2021. However, it is far short of parity.

Diversity isn't just an issue that affects women. Farnoush said it's also a problem in the economy. Farsiar asserted that teams of leaders with differing perspectives are more effective than those who don't. "So it's crucial that women are in these positions. It's also essential to the country in general.

There are many reasons women are not included in the financial sector. One theory is that the industry of finance is highly male-dominated and competitive, making it difficult for women to get into. A different theory suggests that women are not encouraged to take up careers in finance, whether by their parents or peers.

Farsiar believes that women's socialization from an early age is the cause of the problem. "Women from an early age are taught to be risk-takers but caregivers. "We're taught not to take risks, but rather to play it safe. This is not conducive for the job of an analyst in finance.

It's more than just being socialized to take care of their children. Women are also taught to be kind to people. Farsiar claimed women were taught to be polite. However, in the field of finance you have to be able to be able to speak for yourself. You must be able and willing to advocate for yourself.

Farsiar Questions Where are the Women in Finance?
The dearth of women working in finance is particularly evident at the highest levels of the field. According to a study conducted by Pew Researchers only 10% of finance jobs are employed by women in top executive post. Women have 11.5 percent of financial company board seats.

This imbalance has real-world impacts on women who work in finance. Women are less likely that their male colleagues are promoted, and they are also more likely to leave the field.

The good news is that women are slowly, but surely becoming older. https://jobs.ict-edu.uk/user/farnoush.farsiar6fddcc33/ Farnoush Farsiar Farnoush Farsiar believes part of this increase in women in senior roles is due the #womenshould campaign , which increased awareness of the issue of diversity. Farsiar states that she is convinced that the #MeToo campaign also had an extraordinary impact. Women are now more vocal and calling for changes.

The obstacles women face when trying to get into the world of finance
There are many obstacles that hinder women from advancing into the world of finance. A lack of role models is just one of the most significant obstacles. It can be lonely for women in finance, to be the sole female in their field.

Farsiar acknowledged that it is intimidating to be alone in a room with just one person. "You feel expected to be flawless at all times and that there can't be any mistakes."

Another issue is another one is the "old guys' club" mentality in many finance companies. This is the idea that men are more favourable to other men, and women are left out.

"There's plenty of truth in it," Farsiar admits. "I've witnessed it firsthand. Farnoush Farsiar Men will promote men even if they are more competent.

This old boys club mentality can result in sexual discrimination or harassment. https://myclc.clcillinois.edu/web/mycampus/home?p_p_id=19&p_p_lifecycle=1&p_p_state=normal&p_p_mode=view&p_p_col_id=column-1&p_p_col_pos=1&p_p_col_count=2&_19_struts_action=%2Fmessage_boards%2Fedit_message Financial women often receive insulting remarks and unwelcome advances made by their male colleagues.

Farnoush Farsiar exclaims that "it's definitely an issue." http://74novosti.ru/user/Farnoush.Farsiar7bddcc11/ "Women in Finance are often considered to be objects. It's tough to get ahead when you're treated in this manner."

The last issue is the lack of flexible working arrangements. Women are more likely to take on the responsibility of caring for elderly parents and children. Flexible work schedules are essential to allow them to keep a balance between work and family.

"Finance is a very challenging industry. It isn't easy to meet these demands when you have other responsibilities. Women are often required to choose between their work and their family."

These obstacles make it extremely difficult for women to get into the financial sector and achieve senior positions. There are a myriad of initiatives to address this issue.

Farnoush Farsiar Believes the Future is Bright for Women in Finance
There are plenty of reasons to be optimistic about the future of women in the field of finance. There are many initiatives that aim to increase the number of females working in the finance sector and help them achieve senior posts.

One such initiative is the Women Entrepreneurs Finance Initiative (WeFi), which is a partnership between the World Bank Group & 14 governments. We-Fi offers financial assistance and financing to women-owned companies in developing countries.

Farsiar stated that this is an excellent initiative as it gives women the tools needed to expand and begin their own business. "It also helps them build networks and network with other successful women."

A different initiative is the Women in Finance Charter. The U.K. government launched it in 2016. https://www.pcb.its.dot.gov/PageRedirect.aspx?redirectedurl=https://timebusinessnews.com/farnoush-farsiar-what-is-a-wealth-management-advisor/ The Women in Finance Charter is a commitment of companies in the financial sector to promote gender diversity.

Farsiar says to "The Women in Finance Charter" is a major step in the right direction. "It is encouraging financial institutions to work in the direction of gender diversity, and is making a difference."

Through initiatives such as We-Fi and the Women in Finance Charter, women are more likely to join and hold senior positions. This is a good thing for women as well as the financial sector.



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