Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking through barriers and experiencing great success in various sectors. However, there are still a few women working in finance. Unfortunately, this may not be changing anytime soon.

According to Deloitte Insights In 2030 only 31 percent of employees in the financial sector will be female. This raises the obvious question: Why are there such a low number of women working in finance. While there are many theories on the reasons for this however, we would like to hear from someone who's worked in finance for some time. Farnoush Farnoush has been interviewed by us. She is a seasoned finance professional who has a passion about women's empowerment.

How many women are employed in finance?

The U.S. employs 57 percent women, but only 24% hold financial positions. It is expected that this figure will increase to 28% over the next 10 years, compared to 24 percent in 2021. However, it is far short of parity.

Farnoush Farsiar The lack of diversity isn't just a concern for women. It's also a problem for the economy, said Farnoush Farsiar. Farsiar claimed that teams that have different styles of leadership perform better than teams that share the same views. "So it's not only crucial for women to be represented in these professions but also for the country in general."

Farnoush Farsiar There are numerous theories that explain the reasons women aren't included in the financial industry. The most popular hypothesis is that the financial sector is dominated by men and competitive for women to enter. Another theory is that females are not urged by their families to pursue careers in finance.

Farsiar believes the root of the issue is how women are socialized from the age of a child. "Women are taught at an early age that they should be risk-takers, not caregivers. "We are taught to stay secure and to not risk it all. This isn't a good idea for an investment career.

Women are taught socially to take care of others. Farsiar stated that women were taught to behave politely. "But you must be able to defend your own financial ideas. You must be able advocate for your ideas.

Farsiar: Where are all the finance women?
Particularly at the top of the financial industry there is a dearth of women in the finance industry is alarming. A study by Pew research found that women make up just 10% of the executive roles. Just 11.5 percent of women are on the top financial boards.

This is a real-world issue for women working in finance. This means that women are less likely than males to be promoted and are more likely to leave finance.

It is good to know that women are slowly however, steadily, advancing in higher roles. Farnoush Farsiar believes part of this increase in women in senior positions is due to the #womenshould campaign which raised awareness about the importance of diversity. Farsiar stated she is "convinced" that the #MeToo movement also was a major influence. Women are now beginning to defend their rights and demanding change.

Obstacles for women pursuing finance
There are numerous hurdles women must overcome to get into the world of finance. One of the most significant barriers is the absence of role models. Finance women often are the only female employees in their area and can be lonely.

Farsiar said that it's a bit difficult to be the sole female present in the room. "You feel under pressure to be perfect and not make mistakes.

Another barrier is another one is the "old boys' club" mentality that is still prevalent in a lot of finance companies. Farnoush Farsiar This is the belief men favor other men and women are left out.

Farsiar acknowledges "there is plenty of truth in this." "I have seen it in person. Even if a woman has higher qualifications, men still promote others.

Farnoush Farsiar This old boys club mentality can result in sexual discrimination or harassment. Finance professionals are frequently subjected to demeaning comments and unwelcome advances from their male counterparts.

Farnoush Farsiar declares "It's certainly an issue." "Women who work in finance are usually treated like commodities, which makes it very difficult for them to succeed."

The last obstacle is the absence of flexible working hours. Women are more likely to take on the responsibility of caring for elderly parents and children. Women need flexible work arrangements to allow them to balance work and home.

"Finance is a very stressful industry, and it's hard to manage the demands of your job with other obligations. Women frequently have to pick between their career and family.

These obstacles make it very difficult to become a top financial professional and enter the industry. There are many initiatives that are being implemented to address this.

Farnoush Farsiar Believes the Future is Bright for Women in Finance
There is every reason to be optimistic about the future of women working in finance. There are numerous initiatives that aim to increase the number women working in the finance sector and assist them in achieving senior positions.

One example of such an initiative is the Women Entrepreneurs Finance Initiative which is a partnership of 14 governments as well as the World Bank Group. We-Fi offers financing and support for women-led businesses in developing countries.

Farsiar explained, "This initiative is great because it gives women access the tools they require in order to start and grow businesses." It also helps them build networks and connect with other women entrepreneurs.

Farnoush Farsiar The Women in Finance Charter was another initiative that the U.K. government launched in 2016. Financial companies have pledged to gender diversity by signing the Women in Finance Charter.

Farsiar believes the Women in Finance Charter represents an important step in the right direction. https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times "It's encouraging financial institutions to be proactive about gender diversity, and it's making a difference."

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



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