Notes

Farnoush Farsiar, Why Are So Few Women in Finance
Women are breaking down barriers and are becoming leaders in a variety of sectors. However, the sad reality is but women are a minority of finance professionals. It's likely that this trend won't change any time soon.

Deloitte's insights says that by 2030, only 31 percent of the workforce will be female financial sector employees. It raises the question: Why is the gender gap so low working in finance? There are many theories. However, we wanted to hear from an expert. Farnoush Farnoush, a highly skilled financial professional who is passionate about women's empowerment, was our interview subject.

Farnoush Farsiar What is the percentage of women employed in finance?

The U.S. employs 57 percent of women However, just 24% hold financial jobs. It is anticipated that the number will grow to 28% over the next 10 years, compared to 24% in 2021. However, they are way short of parity.

Diversity is not just a problem for women. It's a major issue in the business world, according to Farnoush Farsiar. Farsiar asserted that teams of leaders with diverse viewpoints perform better than those without. "So it's essential to have females in these professions. It's also crucial to the country as a whole.

There are many theories that explain the reasons women aren't included in the financial services industry. One theory is that the financial industry is too male-dominated and competitive for women to make it into. Another theory is that financial careers are discouraged from women by their peers or parents.

Farsiar believes that women's socialization at the age of ten is the source of the issue. "Women begin at an early age that they are caregivers, not risk-takers. "We're taught not to make chances, but instead to play it safe. That's not a great way to lead to a career in finance."

Women are educated not just to care for others however, they also have to please people. Farsiar states that women are taught to be polite, minimize conflict and maintain their differences in check. "But in the world of finance, it is important to be able and willing to speak out for yourself. You must be able and willing to advocate for yourself.

Farsiar: Where are all the Finance Women?
Women are underrepresented in finance at highest levels. Women make up just 10% of the executive positions as per a 2016-2017 study conducted by Pew Research. There are only 11.5 percent of women sit on the top boards of financial companies.

This disparity has a real-world effect on women working as financial professionals. It is because women are less likely to get promoted than male counterparts and are also more likely to leave the field.

It is good to know that there is an increase in the number of women in high-level roles. Farnoush Farsiar believes it is partly due to the #womenshould Campaignthat has created a greater awareness of the the lack of diversity. Farsiar affirms that she believes that the #MeToo movement also had a significant impact. Women are speaking up to demand change.

Financial barriers that prevent women from taking up finance careers
There are many obstacles that hinder women from taking up finance careers. One of the most significant barriers is the absence of role models. It is lonely for women working in finance, to be the sole woman in their field.

Farsiar admitted that it's difficult to be the sole female in the room. "You feel expected to be perfect every time and there can't be any mistakes."

Another barrier is another one is the "old guys"club" mentality in many finance businesses. Farnoush Farsiar This is the belief that men are the ones who promote women while women are not.

Farsiar admits "there's a lot more real," he says. "I have seen it in person. Men will promote other men regardless of whether they are better qualified."

Farnoush Farsiar This mindset of the old boys can lead sexual harassment and discrimination. Women in finance are often targeted for sexist comments and unwelcome advances from male colleagues.

"It's definitely an issue," Farnoush Farsiar exclaims. "Women working in finance are typically treated as objects, and it's very difficult to succeed when being treated like that."

The last barrier is the inability to create flexible work arrangements. Females are more likely to have family responsibilities than men, such as caring after elderly parents or children. Women require flexible work schedules to be able to manage work and family.

https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 "Finance is a very challenging business. It can be challenging to meet these demands with other obligations. Women are often forced to make a choice between their careers and family."

This makes obtaining senior positions in the financial services industry very difficult for females. However, there are a number of initiatives that are working to change this.

Farnoush Farsiar believes that the future is bright for women working in finance.
There's plenty of reason to believe in the future of women's careers in finance. There are numerous initiatives that aim to boost the numbers of of females working in the finance sector and help them achieve senior post.

One of these initiatives, Women Entrepreneurs Finance Initiative is a joint venture with the World Bank Group with 14 governments. We-Fi is an initiative to provide financing and support specifically designed for women-led companies in developing economies.

"This is a great initiative since it gives women access to the tools they need to establish and grow their business," Farsiar said. "It can also help build networks and networks and also meet with women who have made it successful."

The Women in Finance Charter was another initiative that the U.K. government launched in the year 2016. The Women in Finance Charter is a pledge by companies in the financial sector to promote gender diversity.

"The Women in Finance Charter is a great step forward," Farsiar encourages. "It's encouraging financial firms to act on gender diversity, and it's creating a positive change."

Initiatives such as We-Fi as well as the Women in Finance Charter make it easier for women to climb into top positions. This is good news for women and the financial sector.



Website: https://suite.endole.co.uk/insight/people/23756008-ms-farnoush-farsiar