Notes

Farnoush Farsiar: Why are there so few women in finance?
Women are breaking down the barriers and achieving amazing success in a range of industries. However, the sad truth is that very few women are working in finance. Farnoush Farsiar It's not likely to improve, which is unfortunate.

Deloitte Web Insights shows that only 31% of financial sector workers will be women by 2030. This raises the question of why there's not more women working in the field of finance. There are a myriad of theories there but we wanted get an opinion from an expert on the subject. Farnoush Farnoush, a highly skilled finance professional , who is passionate about women's empowerment, was our interview subject.

What percentage of women are working in finance?

In the U.S., women make up 57% of all workers, but they hold only 24% of financial jobs. The projected growth in women's participation will be 28 percent over the next ten years, which is up from 24% in 2021. However, this is much less than the parity.

It's not just a problem facing women. Farnoush Farsiar says it is also a threat to the economy. Farsiar said that leadership teams with different perspectives perform better than those who don't. It is crucial for women to be included in these fields. However, it's also essential for the nation.

There are a number of theories on why women are so underrepresented in the finance industry. The most popular hypothesis is that the financial sector is dominated by men and competitive for women to enter. A different theory suggests that women are not motivated to pursue careers in finance, either by their parents , or their peers.

Farsiar believes that women's exposure to socialization from the age of ten is the source of the issue. "Women from a young age are taught to be risk-takers and caretakers. "We're taught to not make risky decisions but to play it safe. This isn't the most effective approach to pursue the field of finance.

It's not enough to have women being trained to be caretakers. They're also viewed as people-pleasers. Farsiar says that women are taught to be courteous and avoid conflict. In finance, however you have to be able to communicate your ideas. https://www.nidsfacts.com/forums/users/farnoush-farsiar6addbb33/ You must be able to advocate for your own ideas.

Farsiar What are the fate of all the Finance Women?
The lack of women in finance is particularly apparent at the top levels of the business. Farnoush Farsiar A study conducted by Pew research discovered that women make up just 10% in executive-level roles. And they hold just 11.5% of executive positions at financial companies.

This inequality has a direct impact on women working as financial professionals. https://notes.io/qZkDc Women are less likely to be promoted than their male counterparts, and they're also more likely to quit the profession entirely.

The good news is that women are slowly but surely becoming older. Farnoush Farsiar believes this partly due to the #womenshould campaign that has raised awareness about the absence of diversity. Farnoush Farsiar Farsiar declares that she's "convinced that the #MeToo movement has had a profound impact. Women are speaking out to call for change.

Financial Access Barriers for Women
Many barriers prevent women getting into finance. Lack of role models is a significant obstacle. Women in finance are often the only female employees in their area, which can prove to be lonely.

Farsiar acknowledged that it's a bit difficult to be the only female in the room. "You feel as if you're being expected to be perfect all of the time, and that you're not allowed to commit any errors."

Another issue is another issue is the "old boys club" mindset that's still prevalent in many finance companies. This refers to the idea that men promote other men, and women are not promoted.

Farsiar admits that there's much to this claim. "I've observed it myself. Men will encourage their male counterparts even if they are better equipped.

This old boys club mentality can result in sexual harassment or discrimination. Women who are financially successful often face rude remarks and unwelcome advances made by their male colleagues.

"It's definitely an issue," Farnoush Farsiar exclaims. "Women who work in finance are usually treated like objects. It's not easy to make it big in a world where women are treated this way."

The final barrier is the absence of flexible working hours. Women tend to be more likely to have household responsibilities, such as caring for elderly parents and children. These women need flexible working arrangements in order to balance work and home.

"Finance is a very complex business, is difficult to manage when you are juggling additional responsibilities. Women frequently have to pick between their careers and family.

Farnoush Farsiar These obstacles make it extremely difficult for women to join the financial industry and reach senior post. There are numerous initiatives underway to overcome this.

Farnoush Farsiar believes that the future is bright for women working in finance
There is every reason to believe in the future of women in finance. There are many initiatives that aim to boost the numbers of of women employed in the financial industry and help them achieve senior post.

Farnoush Farsiar One of these initiatives is Women Entrepreneurs Finance Initiative (We-Fi), which is a collaboration with the World Bank Group and 14 governments. We-Fi provides financial support and assistance to women-led business in developing countries.

Farsiar explained, "This initiative is great because it provides women with access to the tools they require for starting and grow businesses." "It will also assist in building networks and meet with women who have made it successful."

The Women in Finance Charter was another initiative the U.K. government launched in the year of 2016. The Women in Finance Charter is a commitment of financial firms to promote gender diversity.

Farsiar hails "The Women in Finance Charter as a significant step in the right direction." "It is encouraging financial institutions to take action regarding gender diversity and is already making a difference."

https://telegra.ph/Expert-Farnoush-Farsiar-explains-Fintech-and-How-It-is-Transforming-the-Finance-Industry-06-12 Women tend to be more likely to be promoted and have the opportunity to be employed in high-level financial positions because of initiatives like We-Fi. This is good news for both females and the financial sector.



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