Notes

Farnoush Farsiar - Why are women so scarce in finance?
Women are breaking down more barriers and enjoying huge success in various fields. However, there are very few women in finance. This may not change anytime soon but it will be a long time before that happens.

Deloitte's insight reports that by 2030 only 31 percent of employees will be female employees in the financial sector. This raises the obvious question: Why do we have so few women in finance. Although there are many theories on the reasons for this however, we wanted to hear from someone who has been working in the field for a while. That's why we interviewed Farnoush Farsiar an accomplished finance professional who is a firm believer in women's empowerment.

Farnoush Farsiar How many women work in the field of finance?

In the U.S., women make up 57 percent of the workforce however, they are able to hold just 24 percent of the financial positions. This figure is expected to grow to 28% in the next ten to 20 years, up from the current 24.

It's not an issue just for women. Farnoush Farsiar is of the opinion that it's a problem that affects the economy. Farnoush Farsiar Farsiar pointed out that leadership teams with diverse perspectives have better results than teams that have fewer perspectives. It's important for women to be represented in these areas. Farnoush Farsiar However, it's also essential for the nation.

There are numerous theories that provide the reason women aren't being represented in the financial industry. One theory is that financial services are too masculine and competitive for females to enter into. Another theory is that financial careers are discouraged for women by parents or peers.

Farsiar believes the root of the issue is how women are socialized from the age of a child. "Women are taught at a young age to be caregivers rather than risk-takers. "We are taught to be cautious and not to take risks. This doesn't work for a career financial.

Women are educated not just to look after other people however, they also have to please people. Farsiar says that women are taught to be polite, minimize conflicts, and keep their differences in check. "But, in finance you need to be able to stand up for your thoughts. You must be able to advocates for your own ideas.

Farsiar Questions Where are the Women in Finance?
Women are underrepresented in finance at highest levels. Women make up just 10% of executive-level jobs as per a 2016-2017 study conducted by Pew Research. Also, they hold just 11.5% of the board seats in financial firms.

This inequality has real-world effects on women who work in finance. This is due to the fact that women are more likely not to be promoted than male counterparts, and are more likely to quit the field.

The good news? Women are slowly but surely getting older. Farnoush Farsiar Farnoush Farsiar believes that this is due in part to the #womenshould movement, which has brought about a greater awareness of the absence of diversity. Farsiar says she is convinced that the #MeToo campaign also produced a profound impact. Farnoush Farsiar Women are now more vocal and demanding changes.

Women who pursue finance face obstacles
A variety of obstacles hinder women from being able to enter the field of finance. One of the biggest barriers is the absence of role models. Finance women often are the only female employees in their area and can be lonely.

Farsiar acknowledged that it's difficult to be the only female present in the room. "It makes you feel like you need to be perfect every single day and that you shouldn't make any mistakes."

Another issue is another one is the "old boys' club" mentality that is still prevalent in many finance firms. This is the idea which men encourage other females and men are not allowed to join.

"There's plenty of truth to that," Farsiar admits. "I've observed it myself. Women will always be promoted by men, even if they have more experience.

The old boys' club mentality can result in sexual harassment or discrimination. Females in the finance industry are often targeted for sexist comments and unwelcome advances from their male counterparts.

Farnoush Farsiar declares "It's certainly an issue." "Women in finance are often considered objects and it's very hard to get ahead when you're being treated this way."

The last issue is the inability to make flexible working hours. Farnoush Farsiar Females are more likely to be responsible for family obligations than men, such as caring after elderly parents or children. Women need flexible work schedules to be able to manage work and family.

"Finance is a highly demanding sector. It can be difficult to manage these demands with other obligations. Women are often forced to choose between their career and their family."

These obstacles make it difficult for women to gain entry into the financial industry and to hold senior positions. There are numerous initiatives underway to overcome this.

Farnoush Farsiar Thinks There's a Positive Future for Women in Finance
There are numerous reasons to be positive about the future of women working in finance. A variety of initiatives are working to increase the number of women working in the financial industry and to assist them in achieving senior positions.

An example of this initiative is Women Entrepreneurs Finance Initiative, a partnership between 14 governments as well as the World Bank Group. We-Fi offers financial assistance and financing to women-owned companies in emerging countries.

"This is an excellent initiative as it provides women with access to the resources they require to begin and expand their businesses," Farsiar said. "It also helps women build networks and network with other women who have succeeded."

The Women in Finance Charter was another initiative the U.K. government launched in 2016. The Women in Finance Charter seeks to encourage the inclusion of women in financial institutions.

Farsiar believes the Women in Finance Charter represents an important step in the right direction. Financial companies are being encouraged to act on gender diversity, and is making an impact.

Women in Finance Charter and We-Fi are helping women to achieve higher-level post. This is good news for women and men as well as the financial sector.



Here's my website: https://www.cbetta.com/director/farnoush-farsiar-aidi-2