Notes

Farnoush Farsiar - Why are women so scarce in finance?
Women are breaking through barriers and achieving amazing success in many sectors. However, the sad reality is but women make up a small percentage of financial professionals. Unfortunately, this may not change anytime soon.

Deloitte Web Insights reports that only 31 percent of workers in the financial industry will be female by 2030. This raises the question of why there's not more women working in finance. Although there are many theories about the reasons for this however, we wanted to hear from someone who has been in the field for a while. Farnoush Farnoush a successful finance professional who is devoted to women's empowerment is the main reason we spoke to her.

Are there women in finance?

The U.S. employs 57 percent women however only 24% hold financial positions. This number is predicted to increase to 28% within the next 10-20 years increasing from the current 24.

https://learn.centa.org/author/farnoush.farsiar5jffcc22/ Diverseness is not only a problem for women. Farnoush Farsiar Farnoush Farsiar has said that it's a serious issue for the world of business. Farsiar noted that leadership teams with diverse perspectives are more effective than those with fewer perspectives. "So it is not only vital that women are included in these positions, but it is also essential for the nation as a in general."

There are many theories on why women in the finance sector are underrepresented. One hypothesis is that the financial sector is too male-dominated and competitive for women to enter. Another theory is that financial careers are viewed as a deterrent from women by their parents or peers.

Farsiar believes socialization of women from an early age is the root of the issue. "Women are taught from an early age to become caregivers, not risk-takers. "We're taught to be safe and not to take risks. This isn't a good idea for a career of finance.

Women are socialized not only to care for others but also to be pleasing to people. "Women are indoctrinated to be courteous and avoid conflict," Farsiar adds. "But in the world of finance, it is important to be prepared and willing to speak up for yourself. It is crucial to have the ability to support your own ideas.

Farsiar asks Where are the females working in finance?
It's particularly apparent at the top level of finance that there aren't enough females. https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ According to a survey conducted in 2016 and 2017 conducted by Pew, women hold just 10% of the top executive positions. Women also hold only 11.5 percent of the board seats at financial companies.

This disparity can have real-world effects on women in finance. Females are more likely to be employed in finance to get promoted than male counterparts.

The good news is that women are slowly but surely becoming more senior. Farnoush Farsiar believes it is because of the #womenshould Campaignthat has brought about a greater awareness of the problem of the lack of diversity. Farsiar claimed she is "convinced" that the #MeToo Movement also had an enormous impact. Women are becoming more vocal and demanding changes.

https://notes.io/qZjzv Financial Access Barriers for Women
There are numerous hurdles women face in order to enter the field of financial services. A lack of role models is among of the most significant obstacles for women entering finance. Female financial professionals are usually the only ones working in their departments, which can cause being isolated.

Farsiar acknowledged that it's daunting to be in a room with only one woman. "You are under pressure to be perfect and must not make any mistakes.

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

Farsiar admits that there's an element of truth to this assertion. "I've witnessed this happen personally. Even if the woman has more qualifications, men will still recommend other people.

This"old boys' club" mentality can also result in discrimination and harassment of women. Female finance professionals are often subjected ostracizing comments and unwanted advances by male colleagues.

Farnoush Farsiar exclaims that "it's certain that there is a issue." "Women who work in finance are usually treated as objects. It's difficult to get noticed in a world where women are treated this in that way."

Lack of flexibility in working hours is another issue. Family obligations are more prevalent for women than for men. To balance their home and professional lives they'll require flexible work schedules.

"Finance is a very demanding sector. It can be challenging to keep up with the demands of your job with other obligations. Women often have to choose between their careers as well as their family.

Farnoush Farsiar These obstacles make it extremely difficult for women working in the finance industry to achieve high-ranking posts. Farnoush Farsiar However, there are several initiatives being implemented to overcome this.

Farnoush Farsiar Thinks There's a bright future for women in Finance
There are numerous reasons to be hopeful about the future of women in finance. There have been numerous initiatives launched to increase the number and reach the top of the financial industry.

Farnoush Farsiar One of these initiatives is the Women Entrepreneurs Finance Initiative (WeFi), which is a collaboration between the World Bank Group & 14 governments. We-Fi is a financing and support program for women-owned businesses in emerging economies.

Farsiar stated, "This program is a fantastic one since it provides women access and the resources to establish and grow their companies." "It also helps them build networks and connect to other women who have succeeded."

Farnoush Farsiar A different initiative is the Women in Finance Charter, that the U.K. government launched in 2016. Financial firms have committed to gender equality through the Women in Finance Charter.

Farsiar believes that the Women in Finance Charter represents significant progress. It encourages financial firms as well as other companies to tackle gender diversity.

With initiatives like We-Fi as well as the Women in Finance Charter, more women get to enter and hold senior positions. This is a good thing for women and for the financial industry.



My Website: https://bmmagazine.co.uk/business/farnoush-farsiar-on-queen-elizabeth-inclusion-and-diversity/