Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking through barriers and experiencing great accomplishments in many fields. The sad truth is that there are still very few women working in finance. It is unlikely that this trend will be changing anytime soon.

Deloitte's insights states that by 2030 only 31 percent of the workforce will be female employees in the financial sector. Farnoush Farsiar It begs the question how come there isn't a lot of women working in financial services? There are a variety of theories. We wanted to learn more from an expert. Farnoush Farnoush, a highly skilled finance professional passionate about women empowerment was our interviewee.

How many women are employed in Finance?

The U.S. employs 57% women However, just 24% have financial jobs. This figure is expected to grow to 28% over the next ten to 20 years increasing from the current 24.

Diversity isn't only a problem for women. It's a major issue in the business world, said Farnoush Farsiar. Farsiar said that teams of leaders with different perspectives perform better than those without. Farnoush Farsiar "So it is not only crucial that women are represented in these fields however, it is vital for the country as whole."

There are a myriad of theories as to why women in the finance sector are underrepresented. The most popular theory is that finance is too male-dominated and highly competitive for women to be into. A different theory suggests that women aren't encouraged to take up careers in finance, either by their parents or their peers.

Farsiar believes that the root of the problem is how women are socialized from an early age. Women are taught to care for their children and to be accountable for their safety. "We are taught to be cautious and to not risk it all. This isn't a good way to go about a career as a financial analyst.

Women are socialized to be caring for one another. Farsiar says that women are taught to be polite, reduce conflict and keep their differences in check. "But in the field of finance it is essential to be in a position to defend yourself. You need to be able advocates for your own ideas.

Farsiar asks , where are all the women employed in finance?
At the top of the financial sector there is a significant lack of women. A study by Pew research discovered that women account for only 10% of executive positions. Women also hold only 11.5 percent of executive positions in financial companies.

This imbalance has real-world implications for women in finance. They are more likely than their male colleagues will be promoted and they are also more likely leave the industry.

https://rekvizitai.vz.lt/en/company/lionsgate_procurement_services/farnoush_farsiar_direktore/ The best part is that that the rise in women who hold senior positions is slow but steady. Farnoush Farsiar believes this partly due to the #womenshould campaign which raised awareness of the dearth of diversity. Farsiar believes that #MeToo has had an incredible impact in her personal life. Women are beginning to recognize their voice and demand change."

Financial Access Barriers for Women
There are numerous obstacles which prevent women from pursuing careers in financial services. Lack of role models is one of the biggest hurdles. This makes it challenging for women working in finance to be the sole females in their department.

Farsiar admitted that it can be difficult to be in a room with only one woman. "You feel under pressure to be perfect and not make mistakes.

Another issue is the men's club mentality that is still prevalent in many financial firms. This is a belief system in that men are the ones who encourage females and men are not allowed to join.

Farsiar admits "there is plenty of truth in that." "I've observed this firsthand. Men will make promotions for men, even when they're more qualified.

This"old-boys' club" mentality can also result in sexual harassment and discrimination. Women who are financially successful often face rude comments and unwelcome advances from their male counterparts.

Farnoush Farsiar declares "It's certainly an issue." "Women who work in finance are often treated like commodities, making it extremely difficult for them to be successful."

Not to be forgotten it is the issue of unflexible work arrangement. Women tend to be more likely to have the responsibility of taking care of elderly parents or children. They require flexible working arrangements to manage their home and work schedules.

"Finance is a very demanding industry. It isn't easy to manage these demands when you have other responsibilities. Women are often required to choose between their career and their family."

These barriers make it extremely difficult for women in the financial industry to reach the top posts. However, there are several initiatives being implemented to overcome this.

https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ Farnoush Farsiar Believes the Future is Bright for Women in Finance
There are many reasons to be optimistic about women's future in finance. Many initiatives are being implemented to boost women's participation in the financial market, and to help them in their pursuit of higher-level positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one of these initiatives. It's a partnership between World Bank Group and 14 countries. We-Fi is an initiative to provide financing and support for women-led businesses in developing economies.

"This is a great initiative because it gives women access to the resources they require to establish and grow their business," Farsiar said. "It also helps them build networks and network with other women who are successful."

Another initiative is the Women in Finance Charter. The U.K. government launched it in 2016. The Women in Finance Charter promotes gender diversity.

"The Women in Finance Charter is an important step in the right direction," Farsiar encourages. "It will encourage financial institutions to act in the direction of gender diversity, and it is making a difference."

Women can now enter high-level positions thanks to initiatives like We-Fi and Women in Finance Charter. This is good news for women and the financial sector.



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