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Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are increasingly breaking down barriers and are finding success in different sectors. It is a sad fact, however, that women still only make up a tiny percentage of financial professionals. Farnoush Farsiar It's likely that this trend won't change anytime soon.

Deloitte's research suggests that just 31 percent of financial workers will be female by 2030. This raises the question as to why there aren't more women in finance. Although there are several theories, we decided get the opinion from an expert. Farnoush Farnoush a successful finance professional who is passionately committed to women's empowerment was the reason we interviewed her.

What proportion of women are employed in finance?

In the U.S., 57 percent are women, but they hold only 24% of financial posts. Farnoush Farsiar This number is predicted to increase to 28% in the next 10-20 years increasing from 24% currently.

Diversity isn't only a problem for women. Farnoush Farsiar claims it's also a problem to the economy. Farsiar said that diverse leadership teams have more impact than teams that have less perspectives. "So it's essential that women are included in these positions. This is also essential for the country."

There are a myriad of theories on why women aren't more represented in the financial sector. One theory suggests that the financial industry is highly male-dominated and competitive, making it difficult for women to enter. Another theory is that females are not encouraged by their parents to pursue careers in finance.

Farsiar believes that women's exposure to socialization from the age of ten is the heart of the problem. "Women are taught at an early age that they need to be risk-takers rather than caretakers. "We're taught not to take risky decisions but to be safe. This is not conducive for a career as an analyst in finance.

Women are socialized to take care of others. Farnoush Farsiar Farsiar stated women were taught to be courteous. "But in finance it is crucial to be able and willing to speak up for yourself. You need to be able to advocate for your thoughts.

Farsiar asks where are all the women in finance?
Farnoush Farsiar It's especially evident at the highest levels of finance that there aren't enough women. According to a study conducted between 2016 and 2017 conducted by Pew the women in finance hold just 10% of the top executive post. Women also hold only 11.5 percent of the executive positions in financial companies.

This disparity has real-world consequences on women who work in finance. Women are less likely to be promoted than male counterparts, and are as well more likely to leave the industry altogether.

It is good to know that women are steadily but surely rising in senior roles. Farnoush Farsiar believes part of this rise in women's senior roles is due to the #womenshould movement which increased awareness of the need for diversity. Farsiar says she's "convinced that the #MeToo movement also had an incredible impact. Women are speaking up to make a difference.

Women's financial access is a challenge for women.
A variety of obstacles hinder women from getting into finance. A lack of role models for women is one of the biggest obstacles to women pursuing finance. Women in finance are typically the only ones working in their departments, which can lead to being isolated.

Farsiar stated that it can be intimidating to be the only female in the room. "You feel that you have to be perfect each time and that you aren't allowed to be a fool."

Another barrier is another one is the "old guys' club" mindset that exists in a lot of finance businesses. This refers to the idea that men favor men over women and women are left out.

Farsiar admits "there is plenty of truth in that." "I have witnessed it personally. Men will be promoted by men, even if they are more qualified.

This"old boys' club" mentality can also result in sexual harassment and discrimination. Many male colleagues in finance often make demeaning comments to women and make unwelcome advances.

Farnoush Farsiar says, "It is definitely an issue." "Women in finance are typically treated as objects and it's very difficult to make it in the financial world if you're treated that way."

Then lastly, there's the issue of unflexible work arrangement. Females are more likely be responsible for family obligations than men who are responsible for caring for elderly parents or their children. Flexible working schedules are required to ensure that they can keep a balance between work and family.

"Finance is a highly demanding business, and it's difficult to keep up with the demands when you're also juggling other obligations. Women are often forced to choose between their career and their family."

These obstacles make it difficult for women to gain entry into the financial industry and to hold senior posts. There are however several initiatives being implemented to change this.

Farnoush Farsiar Believes the Future is Bright for Women in Finance
There are many reasons to feel positive about the future of women working in finance. Numerous initiatives have been undertaken to boost the number of women employed in finance and to assist them to reach higher positions.

https://answers.informer.com/index.php?qa=user&qa_1=farnoush-farsiar6jccdd22 Women Entrepreneurs Finance Initiative(We-Fi) is one of the initiatives. It's a partnership with World Bank Group and 14 countries. We-Fi provides financing and support for women-owned businesses in emerging countries.

Farsiar stated, "This program is a fantastic one since it provides women the tools and resources to start and grow their businesses." It allows them to build networks and network with other female entrepreneurs.

The Women in Finance Charter, created by the U.K. in 2016, is another initiative. The Women in Finance Charter represents a commitment made by financial firms to encourage gender diversity.

Farsiar hails "The Women in Finance Charter as a great step forward." It's encouraging financial companies to be proactive about gender diversity and has made an impact.

Women are now able to enter high-level positions thanks to initiatives like We-Fi as well as Women in Finance Charter. This is a good thing for females and the financial sector.



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