Notes

Farnoush Farsiar - Why are there so few women working in finance?
Women are breaking through barriers and are finding results in various industries. Farnoush Farsiar It is a sad fact that there are still very few women in finance. It's unlikely to change, unfortunately.

Deloitte insights suggests that only 31 percent of financial professionals will be female in 2030. This begs the question "Why do women have a hard time working in finance?" There are numerous theories, we decided to hear the opinions from an expert. That's why we interviewed Farnoush Farsiar, an accomplished financial professional who is passionate about women's empowerment.

What is the percentage of women employed in finance?

The U.S. has 57% female workforce but just 24% financial jobs. This is expected to increase to 28% over the next ten years, up from 24% in 2021 but way below parity..

This is not a problem that is only affecting women. Farnoush Farsiar has stated that diversity is also a problem for economic growth. Farsiar pointed out that leadership teams with diverse perspectives perform better compared to those that have fewer perspectives. "So it's not just crucial to have women represented in these professions, but it is also essential for the nation as a whole."

There are a myriad of theories on why women are underrepresented in the financial industry. One theory suggests that the financial sector is very male-dominated, competitive and challenging for women to get into. Another theory suggests that females are not encouraged by their families to pursue finance careers.

Farsiar believes that the root of the issue lies in the way women are socialized from an early age. "Women from an early stage are taught that they should be risk takers but caretakers. "We're taught not to make chances, but instead to play it safe. That's not the best approach to pursue a career in finance.

It's not just that women are socialized to take care of their children and caregivers; they're also taught to be people-pleasers. Farsiar states that women are indoctrinated as courteous and are taught to reduce conflicts. "But you need to be able to advocate for your own ideas regarding finance. Farnoush Farsiar It is crucial to be able to defend your personal ideas.

Farsiar asks where are the females working in finance?
The absence of women in finance is especially pronounced at the top levels of the field. Farnoush Farsiar According to a study conducted by Pew Researchers only 10% are held by women in senior executive posts. Only 11.5 percent of women sit on the top financial company boards.

This inequality has a direct impact on women who work as finance professionals. Farnoush Farsiar They are more likely not to get promoted than their male counterparts, and are as well more likely to leave the industry completely.

The good news is that women are gradually, but steadily becoming older. Farnoush Farsiar believes the reason for this increase is due to the #womenshould campaign which has raised awareness of the problem of diversity. Farsiar says that she's "convinced that the #MeToo movement has had a profound impact. Women are speaking up to make a difference.

Financial barriers that prevent women from pursuing careers in finance
There are many obstacles that prevent women from getting into finance. A lack of role models is one important obstacle. Finance women are typically the only female employees in their area and this can cause them to be lonely.

Farsiar said that being the sole woman in a room could be very daunting. "You are conditioned to be flawless all the time, and that you mustn't commit any errors."

Another barrier is the "old guys' club" mentality that is prevalent in many finance companies. This is the belief males favor men over women and women are left out.

Farsiar admitsthat "There's lots of truth to that." "I've seen it happen myself. Men will encourage their male counterparts, even when the woman is better qualified.

This old boys' club mentality can also result in discrimination and sexual harassment. A lot of male colleagues in finance frequently make demeaning remarks to women and make inappropriate advances.

"It's certainly a problem," Farnoush Farsiar exclaims. "Women in Finance are usually treated like objects. It's difficult to get ahead when you're treated in this manner."

The last obstacle is the lack of flexible working arrangements. Family obligations are more frequent among women than for males. This means that they require flexible work schedules to manage their personal and professional lives.

Farnoush Farsiar "Finance is a very complex industry, is hard to manage when you have many other obligations. Women are often forced to choose between their work and family."

These obstacles make it extremely difficult for women to enter the finance industry and attain the top positions. There are many initiatives to tackle this issue.

Farnoush Farsiar is optimistic about the future of women working in finance
There are plenty of positive reasons to believe in the future of women in the field of finance. A variety of initiatives are aiming to increase the number of women working in the financial industry and to assist them in achieving senior positions.

One such initiative is Women Entrepreneurs Finance Initiative (WeFi), which is a partnership between the World Bank Group & 14 governments. We-Fi provides financing and support to women-led businesses in developing countries.

Farsiar declared, "This is an excellent initiative because it allows women access to resources that can help them start and grow their businesses." It also helps them to establish networks and connect with other women who have succeeded.

The Women in Finance Charter, launched by the U.K. in 2016, is a different initiative. The Women in Finance Charter promotes gender diversity.

Farsiar believes the Women in Finance Charter "is an incredible leap in the right direction." Financial companies are being encouraged to act on gender diversity and has made an impact.

With initiatives like We-Fi and the Women in Finance Charter, women are more likely to join and hold senior positions. This is great news for women as well as the financial industry.



Here's my website: https://tran-sahl-2.blogbright.net/farnoush-farsiar-explains-why-queen-elizabeth-is-an-outstanding-example-of-female-leadership-1689086422