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Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through barriers and are becoming leaders in a variety of industries. The sad reality though is that the proportion of women working in finance remains shockingly low. https://www.cbetta.com/director/farnoush-farsiar-aidi-2 Farnoush Farsiar This may not change anytime soon but it will be a long time before that happens.

Deloitte Web Insights indicates that just 31 percent of the financial sector's workers will be women by 2030. It raises the question: why are there so little women in the finance industry? There are a variety of theories. We wanted to know more from an expert. Farnoush Farnoush an expert financial professional who is passionate about women's empowerment, was our interview subject.

Are there women in finance?

In the U.S., 57 percent are female, yet they have just 24% of the financial jobs. The number is projected to increase to 28% in the next 10 years from 24% in 2021. However, this is significantly below the national average.

The lack of diversity isn't only a problem for women. Farnoush said it's also a problem in the world of business. Farsiar noted that diverse leadership teams perform better compared to those who have less perspectives. "So it's essential to have females in these professions. This is also important for the nation in general.

There are many theories about the reason women aren't represented in the finance industry. One theory is that financial services are too male-dominated and highly competitive for women to get into. A different theory suggests that women are not motivated to pursue careers in finance, either by their parents or colleagues.

Farsiar believes that the source of the problem lies in the way women are treated from an early age. "Women are taught from a young age that they must be risk-takers and not caretakers. "We are taught not to risk our lives, but instead to be cautious. This doesn't work for being a successful career financially.

It's not just that women are conditioned to be caretakers; they're also socialized to be pleasant to others. Farsiar says that women are taught to be polite and avoid conflict. "But in the world of finance it is essential to be able and willing to speak up for yourself. You have to be able advocates for your own ideas.

Farsiar asks where are all the women in finance?
The absence of women in finance is particularly evident at the highest levels of the industry. Women make up just 10% of the executive positions, according to a 2016-2017 study by Pew Research. They also hold only 11.5% of the board seats at financial companies.

This disparity has a real-world effect on women working as finance professionals. It is because women are more likely not to be promoted than their male counterparts and are more likely to quit the field.

The good news is that the amount of women who hold senior positions is slowly but surely increasing. Farnoush Farsiar believes this partly due to the #womenshould movement that has raised awareness about the lack of diversity. Farsiar states that she is convinced that the #MeToo campaign also produced a profound impact. Farnoush Farsiar Women are speaking up to demand change.

Obstacles for women pursuing finance
There are many barriers which prevent women from pursuing careers in financial services. One of the most significant barriers is the absence of role models. Female financial professionals are usually the only ones working in their departments, which can cause feeling isolated.

Farsiar acknowledged that it's a bit difficult to be the only woman in the room. "You feel pressured to be perfect and not make mistakes.

Another problem is the "old boys club" mentality that is still present in many finance firms. This refers to the idea that men favor men over women and women are left out.

"There's a lot of truth in that," Farsiar admits. "I have seen it happen in person. Men will encourage other men even if the woman is better qualified.

This"old boys' club" mentality can lead to harassment and discrimination. Women who are financially successful often face insulting remarks and unwelcome advances by their male counterparts.

"It's definitely an issue," Farnoush Farsiar exclaims. "Women working in finance are usually treated just like objects. Farnoush Farsiar It's difficult to get noticed when you treat women that in that way."

The last barrier is the difficulty in finding flexible work arrangements. Females are more likely than males to have family responsibilities, such as taking care of children or elderly parents. To balance their home and professional lives, they will need flexible work arrangements.

"Finance can be a very demanding job. It can be difficult to keep up with other responsibilities. Women are often required to choose between their career and family."

These challenges make it extremely difficult to be an experienced financial professional in the senior level and enter the industry. There are many initiatives to help change this.

Farnoush Farsiar is optimistic about the future of women working in finance
There are many reasons to be positive about the future of women in finance. Many initiatives have been initiated to boost the number of women employed in finance, and also to help them to reach higher positions.

One of these initiatives, Women Entrepreneurs Finance Initiative is a collaboration of the World Bank Group with 14 governments. https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/ We-Fi provides financing and support for women-owned businesses in emerging countries.

Farsiar declared, "This is an excellent initiative as it provides women with access to resources that will aid them in starting and growing their business." "It can also help them create networks and network with other successful women."

Another initiative is the Women in Finance Charter, that the U.K. government launched in the year 2016. The Women in Finance Charter is designed to promote the inclusion of women in financial institutions.

Farsiar says to "The Women in Finance Charter" is a major step forward. "It's encouraging financial institutions to be proactive about gender diversity and is creating a positive change."

Initiatives like We-Fi or the Women in Finance Charter make it easier for women to get into top posts. This is good news for females and the financial sector.



Here's my website: https://www.cbetta.com/director/farnoush-farsiar-aidi-2
     
 
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