Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking down more barriers and enjoying huge accomplishments in many fields. However, there are still very many women in finance. It's not likely to change, unfortunately.

Deloitte's insights estimates that 31% of the financial industry employees will be women in 2030. This begs the question how come there isn't a lot of women in finance? There are a variety of theories. But we needed to hear from an expert. Farnoush Farnoush is a fervent finance professional and advocate for women's empowerment.

How many women are involved in finance?

In the U.S., women make up 57 percent of the workforce, but they hold just 24% of financial jobs. This is expected to rise to 28% over the next ten year, from 24% in 2021. However, it's still well below the average.

It's not just a problem faced by women. Farnoush Farsiar said that diversity is an issue for growth in the economy. Farsiar stated that diverse leadership teams are more effective than ones with fewer viewpoints. Farnoush Farsiar It's important for women to be represented in these areas. But it's also crucial for the country.

There are many reasons why women aren't able to be included in the financial sector. One theory is that the financial industry is simply too male-dominated and competitive for women to make it into. Another theory is that women aren't encouraged by their families to pursue finance careers.

Farnoush Farsiar Farsiar believes that the source of problem is in the ways women are socialized in their youth. "Women are socialized at a young age to be caregivers rather than risk-takers. "We are taught to play cautiously and avoid taking chances. This isn't the most effective method to pursue an investment career.

Women are socialized to be caring for one another. Farsiar stated that women were taught to be polite. In finance, however you have to be able to be able to speak for yourself. You must be able advocate for your thoughts.

Farsiar asks Where are the females who work in finance?
At the top of the financial sector, women are especially underrepresented. According to a research study from 2016-17 by Pew. A mere 11.5% of boards in financial institutions are occupied by women.

This disparity has real-world consequences for women working in finance. Women are less likely in finance to be promoted than male counterparts.

The best part is that the increase in women holding senior positions is slow but steady. Farnoush Farsiar believes this partly because of the #womenshould campaign which has brought awareness to the absence of diversity. Farnoush Farsiar Farsiar believes that #MeToo has had a profound influence in her personal life. Women are now more vocal and insisting on change.

Obstacles for women to enter Finance
There are numerous obstacles that hinder women from entering finance. One of the largest obstacles is the lack of role models. Finance women are typically the only woman working in their area and this can cause them to be lonely.

Farnoush Farsiar "It is really scary being the only female in the room" Farsiar said. "You feel as if you're being expected to be perfect all of the time, and that you shouldn't be able to make a mistake."

Another issue is another one is the "old boys"club" mentality that is still prevalent in many finance firms. This is the idea that men are more favourable to other men, and women are left out.

Farsiar acknowledges that "there's lots of than that," he says. "I have witnessed it firsthand. Men will encourage their male counterparts even if the woman is better qualified.

The old-fashioned mentality can result in sexual harassment or discrimination. Farnoush Farsiar Finance women are often exposed to unwanted advances and humiliating remarks from their male counterparts.

Farnoush Farsiar says, "It is certain that it is a problem." "Women working in finance are typically treated like commodities, making it extremely difficult for them to achieve success."

The last barrier is the inability to find flexible work schedules. Family obligations are more frequent among women than for men. These women need flexible working arrangements to allow them to balance work and family.

"Finance is a high-risk business. It is challenging to balance your work and family obligations when you are also working in finance. A lot of women have to choose between their career or family.

These challenges make it extremely difficult to be a senior financial professional and enter the industry. However, there are a number of initiatives that are working to improve this.

Farnoush Farsiar believes the Future is Bright For Women in Finance
There are many reasons to be optimistic about the future financial industry. There are many initiatives designed to boost the numbers of of females working in the financial sector and assist them in achieving senior posts.

One of these initiatives is the Women Entrepreneurs Finance Initiative (We-Fi) which is a partnership with the World Bank Group and 14 governments. We-Fi assists women-led businesses in emerging nations by offering financial assistance and support.

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

Another initiative is The Women in Finance Charter. It was announced by the U.K. government in 2016. Farnoush Farsiar The Women in Finance Charter is designed to promote the inclusion of women in financial institutions.

Farsiar believes the Women in Finance Charter represents an important step in the right direction. It's encouraging financial companies to be proactive about gender diversity, and is making an impact.

Women in Finance Charter and We-Fi help women to achieve higher-level positions. This is good news both for women and for the financial industry.



Website: https://www.privatebankerinternational.com/author/farnoushfarsiar/