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Farnoush Farsiar - Why are there so few women in finance?
Women are breaking down the barriers to achieve great success across a variety of industries. However, the sad truth is that the majority of women are employed in finance. It is unlikely that this trend will be changing anytime soon.

Deloitte's insight says that by 2030, only 31 percent will be female financial industry employees. This begs the obvious question: Why do we have such a low number of women working in finance. There are many theories on the internet but we wanted get an opinion from an expert on the subject. Farnoush Farnoush is a committed finance professional and an advocate for women's empowerment.

How many women are involved in the field of finance?

The U.S. employs 57% women however only 24% of them hold financial jobs. This number is predicted to rise to 28% in the next ten to 20 years increasing from the current 24.

This isn't a problem only for women. Farnoush Farsiar believes it's also an issue that impacts the economy. Farsiar pointed out that teams that have diverse leadership styles perform better compared to those that have fewer perspectives. Farnoush Farsiar It's important for women to be represented in these areas. However, it's also essential for the nation.

There are many theories that explain why women aren't represented in the field of financial services. The most popular theory is that the financial industry is too male-dominated and competitive for women to break into. A different theory suggests that women aren't advised to pursue careers in finance either by their parents or colleagues.

Farsiar believes the root cause of the issue is how women are viewed at an early age. "Women from an early stage are taught that they should be risk takers and caregivers. "We're taught to not make risks, but rather to be safe. This isn't the most effective method to pursue the field of finance.

Women are taught socially to take care of others. Farsiar stated women were taught to be polite. "But in the field of finance you must be in a position to defend yourself. You need to be able advocate for your personal ideas."

Farsiar asks where are all the women in finance?
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, women hold only 10% of the executive-level positions. Also, they hold just 11.5 percent of the board seats in financial firms.

This is a real-world issue for women in finance. Females are more likely in finance to get promoted than their male counterparts.

The good news? Women are gradually, but steadily becoming more senior. Farnoush Farsiar believes it is because of the #womenshould campaign, which has led to a more widespread awareness of the issue of inequalities. Farsiar says that she is "convinced that the #MeToo campaign has had a profound impact. Women are now starting to defend their rights and demanding changes.

The obstacles women face when trying to get into the world of finance
There are numerous obstacles that hinder women from entering financial services. One of the biggest barriers is the absence of role models. Farnoush Farsiar It is lonely for women working in finance, to be the sole woman in their field.

Farsiar explained that being the only woman in a room can be very daunting. "You are expected to be flawless at all times and that there must be no mistakes."

Another barrier is another one is the "old guys' club" mentality in many finance companies. This is the belief in which men encourage other women and that they are excluded.

Farsiar acknowledges "there is plenty of truth in this." "I've observed it in person. Men will be able to promote men even when they are better qualified."

This old boys' club attitude can lead to discrimination and harassment of women. Farnoush Farsiar Finance women are usually subject to unwelcome advances and demeaning comments from male counterparts.

Farnoush Farsiar Farnoush Farsiar exclaims that "it's certainly a problem." https://www.crunchbase.com/person/farnoush-farsiar "Women working in finance are usually considered to be objects and it's difficult to make it in the financial world when you're treated this way."

Lack of flexibility in working hours is another barrier. Family obligations are more frequent among women than for males. Flexible work schedules are essential to ensure that they can balance work and family life.

"Finance is a highly demanding industry. https://www.techregister.co.uk/farnoush-farsiar-explains-how-fintech-is-changing-finance/ It can be challenging to meet these demands with other obligations. Many women are forced to make a choice between their job or family.

These obstacles make getting high-level positions in the financial services industry very difficult for females. However, there are several initiatives that are working to overcome this.

Farnoush Farsiar is optimistic about the future of women in finance.
Farnoush Farsiar There's every reason to believe in the future of women working in finance. Many initiatives have been initiated to increase the numbers of women employed in finance and assist them in reaching senior positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one of the initiatives. It's a partnership between World Bank Group and 14 countries. We-Fi supports women-led companies in developing nations by providing financial assistance and support.

Farsiar stated, "This program is a excellent one as it provides women access and the resources to establish and grow their businesses." "It also helps women build networks and networks with other successful women."

The Women in Finance Charter, introduced by the U.K. in 2016, is a different initiative. The Women in Finance Charter is a commitment by companies in the financial sector to promote gender diversity.

Farsiar says to "The Women in Finance Charter" is a significant move forward. It's urging financial institutions to be proactive about gender diversity and it's making an impact.

Women in Finance Charter and We-Fi help more women achieve high-level post. Farnoush Farsiar This is great news for women as well as the financial industry.



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