Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are increasingly breaking through barriers and enjoying huge success in a variety of industries. However, there are still very few women working in finance. It's likely that this trend won't be changing anytime soon.

Deloitte insights reports that by 2030 only 31 percent will be female financial sector employees. This raises the question "Why there aren't more women working in finance?" While there are numerous theories, we decided hear the opinions of an expert. Farnoush Farnoush is a committed finance professional and an advocate for women's empowerment.

What is the percentage of women working in finance?

Farnoush Farsiar The U.S. has 57 percent of the workforce is female but only 24% of financial jobs. It is predicted that this number will rise to 28% within the next 10 years, from 24% in 2021. However, it's still significantly below the national average.

The absence of diversity isn't just a concern for women. Farnoush said it's also a major issue in the world of business. Farsiar claimed that leadership teams that have diverse viewpoints perform better than those with no. "So it's not just crucial that women are represented in these professions but also for the country overall."

There are many theories about the reasons women aren't represented in the financial sector. The most popular theory is that finance is too masculine and competitive for females to enter into. A different theory suggests that women aren't encouraged to pursue careers in finance, either by their parents , or peers.

Farsiar believes the root of the issue lies in the way women are viewed at a young age. "Women are taught from an early age to be caretakers, not risk-takers. "We are taught to play safe and to not take risks. This isn't conducive to being a successful career financially.

It's much more than being taught to take care of the children. Women also learn to love people. Farsiar states that women are taught to be courteous, avoid conflicts, and keep their differences in check. "But you need to be able advocate for your own financial ideas. You have to be able to defend your personal ideas."

Farsiar - Where are all the women in the accounting and finance fields?
Women are disproportionately underrepresented in finance, particularly at the top levels. According to a research study from 2016-17 by Pew. Women also hold only 11.5% of the board seats in financial firms.

This imbalance has real-world impacts on women working in finance. Farnoush Farsiar This is why women are more likely than men to be promoted and are more likely to quit the finance sector.

It is good to know that women are slowly however, steadily, advancing in higher roles. Farnoush Farsiar believes that this is partly due to the #womenshould campaign that has resulted in an increased awareness of the absence of diversity. Farsiar says she believes that the #MeToo campaign had an equally significant impact. Women are now beginning to assert their rights and demand changes.

There are obstacles for women getting into finance
There are many obstacles that women face in order to get into financial services. The absence of role models is a significant obstacle. It is lonely for women in finance to be the only woman in their field.

Farsiar acknowledged that it's a bit difficult to be the only woman in the room. "You feel you are under pressure to do your best and you must avoid making any mistakes.

Another obstacle is the "old boys club" mindset that's still common in many financial companies. This is the idea that men are better than women and that they should encourage one another.

Farsiar admits "There's a lot truth to this." Farnoush Farsiar "I have seen it happen firsthand. Even if the woman has more qualifications, men will still recommend other people.

Farnoush Farsiar 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 from male colleagues.

Farnoush Farsiar exclaims that "it's definitely an problem." "Women in finance are often treated as objects and it's very difficult to get ahead when you're treated this way."

The final barrier is the inability to make flexible work schedules. Family obligations are more prevalent for women than for males. This means that they require flexible working arrangements to balance their home and work lives.

"Finance is a very demanding profession, and it's not easy to meet those demands when you have other responsibilities. Women frequently have to pick between their work and family.

This makes it difficult for women to enter the financial industry and reach high-level posts. However, there are a few initiatives that can in overcoming this.

Farnoush Farsiar Thinks There's a Bright Future for Women in Finance
There are many evidence to suggest that women will continue to be employed in financial services. There are a variety of initiatives being taken to increase women's participation in the finance market, and to help women as they pursue senior roles.

Women Entrepreneurs Finance Initiative(We-Fi) is one such initiative. It's a partnership between World Bank Group and 14 countries. We-Fi provides financial assistance and financing for women-led businesses in developing countries.

Farsiar said, "This program is a great one because it gives women access and the resources to start and grow their companies." "It will also assist them in building networks and network with other women who are successful."

Another initiative is The Women in Finance Charter. This was launched by the U.K. government in 2016. The Women in Finance Charter represents a commitment made by financial companies to promote gender diversity.

Farsiar praises "The Women in Finance Charter as a great step forward." "It is encouraging financial companies to take actions on gender diversity, it's making progress."

https://www.meetingwithpia.org/members/farnoush-farsiar1gbbaa22/activity/432401/ With initiatives like We-Fi and the Women in Finance Charter, women are more likely to join and hold senior positions. https://bmmagazine.co.uk/business/farnoush-farsiar-on-queen-elizabeth-inclusion-and-diversity/ This is good news for both women as well as the financial sector.



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