Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through barriers and enjoying great success in various sectors. The sad reality is that only a few women work in finance. However, this is unlikely to be changing anytime soon.

Deloitte insight estimates that 31% of the financial industry employees will be women by 2030. This raises the question as to why there aren't more women working in finance. There are many theories. But we wanted to hear from an expert. Farnoush Farnoush has been interviewed by us. She is a seasoned financial professional who is a passionate advocate about women's empowerment.

What percentage of women are employed in finance?

The U.S. employs 57% women however only 24% of them hold financial jobs. It is expected that the number will grow to 28% over the next 10 years, up from 24% in 2021. But it still falls well short of the parity.

It's not only a problem faced by women. Farnoush said it's a serious issue for the economy. Farsiar stated that diverse leadership teams are more effective than those who have fewer perspectives. "So it's not just vital that women are included in these professions and other positions, but it is vital for the country as in general."

There are many theories that provide the reason women aren't being represented in the financial services industry. One theory suggests that the market for financial services is too male-dominated and competitive for women to enter. Another theory suggests that females are not urged by their parents to pursue careers in finance.

Farsiar believes the root cause of the issue lies in the way women are viewed at a young age. "Women learn from an early age that they are take care of others, not risk takers. "We are taught to be safe and not take chances. That's not the best method to pursue a career in finance.

Women are taught to be caring for one another. Farsiar states that women are indoctrinated as courteous and are taught to reduce conflict. But in finance you have to be able to communicate your ideas. You must be able advocate for your ideas.

Farsiar asks: Where are all the women who work in finance?
It's especially evident at the top level of finance, that there aren't enough women. Women are only about 10% of the executive positions according to a research study conducted by Pew Research. Women are the holders of 11.5% of financial firm board seats.

This imbalance has real-world impacts on women working in finance. It is because women are less likely to be promoted than their male counterparts and are also more likely to leave the industry.

Farnoush Farsiar It is good to know that there's an increase in the number of women in high-level posts. Farnoush Farsiar believes part of this increase in women in senior roles is due the #womenshould movement which increased awareness of the need for diversity. Farsiar said that she was "convinced" that the #MeToo Movement was a major influence. Women are beginning to speak out and call for changes.

Barriers to Women Getting into Finance
There are many obstacles which prevent women from pursuing careers in the world of finance. Farnoush Farsiar One of the most significant barriers is the lack of role models. Women in finance are often the only woman in their job and this can make them feel isolated.

Farsiar explained that being the sole woman in a room could be extremely intimidating. "You feel expected to be perfect at all times and that there should be no errors."

Another obstacle is another one is the "old guys"club" mindset that exists in a lot of financial firms. This is the belief in that men support other men and women are excluded.

Farsiar admits that there's an element of truth to this assertion. "I've seen it happen myself. Men will be arousing to other men regardless of whether the woman is better qualified.

The old boys' club mentality can lead also to sexual harassment or discrimination. Women in finance are frequently confronted with unwelcome advances and demeaning remarks from male colleagues.

Farnoush Farsiar exclaims that "it's certainly a problem." "Women working in finance are typically considered objects and it's very hard to make it in the financial world when you're being treated this way."

The final barrier is the lack of flexible working hours. https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ Family responsibilities are more common for women than men. Women require flexible work arrangements in order to balance work and home.

"Finance, being a complex industry, is hard to manage when you have many other obligations. Women are often required to make a choice between their careers and family."

These obstacles make it extremely difficult for women in the financial sector to attain high-ranking posts. There are many initiatives underway to overcome this.

Farnoush Farsiar is optimistic about the future of women working in finance
There's every reason to be optimistic about the future of women working in finance. Many initiatives are in place to boost the number of women working in the finance sector and assist them in achieving senior positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one of the initiatives. Farnoush Farsiar It's a partnership between World Bank Group and 14 countries. We-Fi provides financing and support to women-owned companies in emerging countries.

Farsiar said, "This program is a great one because it gives women access to resources and opportunities to establish and grow their businesses." "It also helps build networks and make connections with other women who have made it successful."

Another initiative is the Women in Finance Charter. It was announced by the U.K. government in 2016. The Women in Finance Charter is a commitment by financial institutions to encourage gender diversity.

Farsiar believes to "The Women in Finance Charter" is a major step forward. It encourages financial institutions and other businesses to consider gender diversity.

Through initiatives such as We-Fi and the Women in Finance Charter, women are more likely to be accepted into and take on senior roles. This is an excellent thing for both the financial and women sectors.



Here's my website: https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/