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Farnoush Farsiar, Why Are So Few Women in Finance
Women are breaking down more barriers and enjoying huge success in various fields. It is a sad fact that there are very few women in finance. It's likely that this trend won't be changing anytime soon.

According to Deloitte Insights, in 2030 only 31 percent of financial sector employees will be women. It begs the question what is the reason there aren't more women working in the finance industry? https://www.privatebankerinternational.com/author/farnoushfarsiar/ There are a variety of theories. We wanted to know more from an expert. Farnoush Farnoush is a passionate financial professional who is a champion for women's empowerment.

How many women are involved in the field of finance?

The U.S. has 57% female workforce but only 24% financial jobs. This figure is expected to grow to 28% over the next 10-20 years which is up from the current 24.

The lack of diversity isn't only a problem for women. Farnoush said it's also a major issue in the economy. Farsiar stated that leadership teams with diverse perspectives are more effective than those that have less perspectives. "So it's not just vital to have women represented in these professions and other positions, but it is vital for the country as overall."

There are a myriad of theories as to why women in the financial industry aren't as well represented. One hypothesis is that the finance industry is too male-dominated and competitive for women to break in. Another theory is that their parents and their peers dissuade women from taking on financial careers.

Farsiar believes the root of the issue is how women are socialized from the age of a child. "Women are taught from an early age to become take care of others, not risk takers. "We are taught to stay secure and to not risk it all. This doesn't make sense for a career as an analyst of financials.

It's not only that women are taught to take care of their children; they're also socialized to be people-pleasers. Farsiar explains that women are indoctrinated as courteous and are taught to reduce conflicts. "But, in finance you must be able to advocate for your thoughts. You must be able to defend your own ideas."

Farsiar - Where is all of the women working in the accounting and finance fields?
Women are particularly underrepresented in finance at highest levels. According to a study conducted in 2016-17 conducted by Pew. Women are the holders of 11.5% of financial firm board seats.

Farnoush Farsiar This disparity has real-world implications for women who work in finance. They are more likely that their male counterparts will be promoted, and they are also more likely to leave the profession.

It's great to know that there is increasing numbers of women who are employed in higher positions. https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/ Farnoush Farsiar believes the reason for this growth is because of the #womenshould movement which has raised awareness of the problem of diversity. Farsiar states she's "convinced that the #MeToo movement also had an incredible impact. Women are beginning to speak out and demand changes.

Obstacles for women to enter Finance
There are numerous obstacles that hinder women from entering finance. One of the most significant obstacles is the lack of role models. Women in finance are often the only women in their department and can lead to isolation.

"It is really scary to be the sole woman in the room," Farsiar said. "You are convinced that you need to be perfect each time, and you cannot make mistakes."

Another obstacle is the "old boys club" mindset that's still common in many financial companies. It is the belief that males favor men over women and women are left out.

Farsiar acknowledges "there is some truth to this." https://www.cbetta.com/director/farnoush-farsiar-aidi-2 "I've seen it happen myself. Farnoush Farsiar Even if a woman has greater qualifications, men will still promote others.

This"old boys' club" mentality can also result in discrimination and harassment of women. Finance women are usually confronted with unwelcome advances and demeaning remarks from male colleagues.

Farnoush Farsiar says, "It is certainly an issue." "Women working in finance are usually treated as objects and it's very difficult to make it in the financial world when you're treated this way."

Farnoush Farsiar The inability to work flexible schedules is another obstacle. Females are more likely than males to be entrusted with families responsibilities, for example, taking care of children or elderly parents. This means they need flexible working arrangements to balance their personal and professional lives.

"Finance is a very demanding business. It isn't easy to meet these demands with other obligations. Women are often forced to choose between their career or family.

These barriers make achieving senior post in the financial service industry extremely difficult for females. There are numerous initiatives underway to overcome this.

Farnoush Farsiar is optimistic about the future of women working in finance
There are many reasons to be optimistic about women's future in the field of finance. https://www.difc.ae/public-register/rumi-investment-limited/ There have been numerous initiatives launched to boost their numbers and make it to the top of the financial industry.

Women Entrepreneurs Finance Initiative(We-Fi) is one of these initiatives. It's a partnership with World Bank Group and 14 countries. Farnoush Farsiar We-Fi offers financial assistance and financing to women-owned companies in developing countries.

Farsiar declared that this was a fantastic initiative, as it gives women the tools to grow and start their own business. "It can also help them create networks and network with other women who are successful."

The Women in Finance Charter, created by the U.K. in 2016, is a different initiative. Farnoush Farsiar Financial firms have committed to gender diversity by signing the Women in Finance Charter.

Farsiar believes the Women in Finance Charter represents significant progress. "It is encouraging financial institutions to act on gender diversification, and it is creating a positive change."

Initiatives such as We-Fi as well as initiatives like the Women in Finance Charter make it easier for women to climb into leadership positions. This is a good thing for both women and the financial sector.



Read More: https://www.difc.ae/public-register/rumi-investment-limited/