Notes

Farnoush Farsiar: Why are so few women in finance?
Women are breaking down the barriers and reaching amazing success in a range of fields. Unfortunately, only a few women work in finance. Unfortunately, this may not see a significant change in the near future.

Deloitte Web Insights reports that only 31 percent of the financial sector's workers will be female by 2030. This begs the obvious question: Why are there many women in finance. Although there are many theories on why this is the case however, we were looking for an opinion from someone who's been in the field for a while. Farnoush Farnoush is a highly skilled finance professional , who is passionate about women's empowerment, was our interview subject.

How many women work in the field of finance?

In the U.S., women make up 57% of the workforce However, they hold just 24 percent of the financial positions. Farnoush Farsiar The number is projected to increase to 28% within the next 10 years from 24% by 2021. However, it's still significantly below the national average.

It's not an issue just for women. Farnoush Farsiar thinks it's an issue that impacts the economy. Farsiar stated that diverse leadership teams are more effective than ones with fewer viewpoints. It is crucial for women to be represented in these fields. However, it's also essential for the country.

There are many theories about the reasons women aren't represented in the financial sector. The most popular hypothesis is that the industry is dominated by men and competitive for women to break into. Another theory is that their mothers and colleagues hinder women from entering career paths in finance.

Farsiar believes that women's socialization at an early age is the cause of the problem. "Women begin at an early age to become take care of others, not risk takers. "We're taught to be safe and not to take risks. This isn't a good way to go about an occupation as a financial analyst.

Farnoush Farsiar It's not enough that women are trained to be caretakers. They're also socialized as people-pleasers. Farsiar said that women were taught to be polite. "But when it comes to finance, you must be able to be a voice for your ideas. Farnoush Farsiar You must be able advocate for your ideas.

Farsiar asks: Where are all the women who work in finance?
It's especially evident at the top of finance that there are not enough women. https://learn.centa.org/forums/users/farnoush-farsiar9caacc22/ Women make up just 10% of executive-level jobs according to a research study by Pew Research. There are only 11.5 percent of women sit on the top boards of financial companies.

This disparity has real-world consequences on women working in finance. This is because women are less likely to be promoted than their male counterparts and are also more likely not to stay in the field.

The good news is that the number of women working in senior positions is slowly but surely increasing. Farnoush Farsiar believes that this is partly due to the #womenshould campaign which has brought about more awareness of the absence of diversity. Farsiar stated that she is "convinced" that the #MeToo movement also was a major influence. Women are beginning to get their voices heard and demanding change."

The obstacles for women who want to pursue finance
There are a number of obstacles that prevent women from getting into financial services. One of the biggest barriers is the lack of role models. This can make it hard for women who work in finance to be the only female in their respective departments.

Farsiar acknowledged that it is difficult to be in a room with just one person. "It makes you feel like you need to be flawless all the time and you should not make any errors."

Another obstacle is another one is the "old guys"club" mindset that exists in a lot of financial firms. This is the idea that men favor other men and women are left out.

https://professionalparaplanner.co.uk/tag/advice-threat/ Farsiar admits "there's lots of truth to that," he says. "I've witnessed it myself. Men will be arousing to other men even if women are more qualified.

This"old-boys' club" mentality can result in the harassment of women and discrimination. A lot of male colleagues in finance often make demeaning remarks to women, and also make inappropriate advances to.

Farnoush Farsiar declares, "It's definitely an issue." "Women in the field of finance are frequently treated like objects, and it's extremely difficult to get ahead when you're being treated like that."

The last issue is the inability to make flexible working hours. Family obligations are more frequent among women than for men. They need flexible work arrangements to manage their home and work schedules.

"Finance is a high-risk industry. It is difficult to balance your work and family obligations when you are also working in finance. Women often are forced to choose between family and work.

Farnoush Farsiar This makes it difficult to be an experienced financial professional in the senior level and get into the business. There are however many initiatives that are working to improve this.

Farnoush Farsiar Thinks There's a bright future for women in Finance
There are plenty of reasons to be optimistic about women's future in finance. There are numerous initiatives aiming to increase the number of females working in the finance sector and to help them reach higher positions.

One such initiative is the Women Entrepreneurs Finance Initiative (WeFi), which is a partnership of the World Bank Group & 14 governments. We-Fi provides financial support and assistance for women-owned businesses in the developing world.

Farsiar said, "This initiative is great because it allows women access to the tools they require to begin and grow businesses." It allows them to build networks and make connections with other female entrepreneurs.

https://londonlovesbusiness.com/farnoush-farsiar-on-the-legacy-of-queen-elizabeth-ii-for-women-in-leadership/ The Women in Finance Charter was another initiative the U.K. government launched in 2016. The Women in Finance Charter promotes gender diversity.

Farsiar says the Women in Finance Charter "is a great leap ahead." "It's encouraging financial firms to take action on gender diversity and is creating a positive change."

With initiatives like We-Fi as well as the Women in Finance Charter, women are more likely to join and reach senior positions. This is good news for both the financial and female sectors.



Homepage: https://learn.centa.org/forums/users/farnoush-farsiar9caacc22/