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Farnoush Farsiar, Why Are So Few Women in Finance
Women are breaking through barriers and experiencing amazing success in many industries. However, the sad reality is yet, women only make up a tiny percentage of finance professionals. This isn't likely to change, unfortunately.

Deloitte's insights estimates that 31% of financial industry employees will be women by 2030. It begs the question what is the reason there aren't more women in finance? There are numerous theories on why this is but we wanted to hear from someone who's been working in the field for some time. Farnoush Farsiar This is why we spoke with Farnoush Farsiar, an accomplished financial professional who is passionate about women's empowerment.

How many women are involved in the field of finance?

The U.S. is home to 57 percent of the working population. But the country only has 24% of financial positions. That's is projected to expand to 28% over the next ten years and up from 24% in 2021 - but still way below parity..

Diverseness isn't only a problem faced by women. Farnoush Farsiar thinks it's a problem that affects the economy. "Diverse leadership teams perform better than ones that do not offer a broad range of viewpoints," Farsiar said. "So it's not just important for females to be involved in these fields but also for the country as a whole."

There are many reasons women are not included in the financial sector. One theory is that financial services are male-dominated and competitive for females to be into. Another theory suggests that peers and parents don't encourage women to choose financial careers.

Farsiar believes the source of the issue lies in how women are socialized from a young age. "Women from a young age are taught to be risk-takers but caregivers. https://www.difc.ae/public-register/rumi-investment-limited/ "We are taught to stay cautious and not take chances. This doesn't make sense for a career as a financial analyst.

Women are socialized not only to look after others however, they also have to please people. Farsiar states that women are taught to be polite, minimize conflicts, and keep their differences under control. "But when it comes to finance, you have to be able advocate for your thoughts. It is crucial to have the ability to support your own ideas.

Farsiar Questions Where are the female finance professionals?
Particularly at the top of the finance industry and in the top positions of finance, the absence of women in the finance industry is alarming. Women hold just about only 10% of executive-level positions as per a 2016-2017 study by Pew Research. Women have 11.5 percent of financial company board seats.

This inequality has a direct impact on women who work as financial professionals. This is because women are more likely not to get promoted than male counterparts and are also more likely to leave the field.

The positive side is that the proportion of women working in senior positions is slowly but surely increasing. Farnoush Farsiar believes that this is due in part to the ##womenshould campaign, which has brought about an increased awareness of the issue of diversity. Farsiar claims that she is certain that the #MeToo campaign had an extraordinary impact. Women are now beginning to claim their rights and demand changes.

Women are unable to access financial aid because of their gender. from working in finance
There are numerous obstacles women have to overcome in order to get into the world of finance. https://suite.endole.co.uk/insight/people/25691618-farnoush-farsiar-aidi The lack of role models is one of the biggest hurdles. Financial women are often the only ones working in their departments, which can cause being isolated.

Farsiar said that it can be difficult to be the sole female in the room. "You feel like you're expected to be flawless all the time, and that you're not allowed to make any mistakes."

Another issue is the "old boys"club" mentality that still exists in many financial firms. This is the belief that men are superior to women and men should promote each other.

"There's lots of truth to that," Farsiar admits. "I've witnessed it myself. Men will promote other men regardless of whether women are more skilled."

This"old boys' club" mentality can lead to the harassment of women and discrimination. Finance women are often exposed to unwanted advances and demeaning comments from male counterparts.

Farnoush Farsiar Farnoush Farsiar declares, "It's definitely a problem." "Women in finance are often treated as objects and it can be very difficult to make it in the financial world when you're treated this way."

Then, there is the issue of flexible working arrangements. Females are more likely be responsible for family obligations than men for example, taking care of elderly parents or children. They require flexible work arrangements that allow them to balance their work and home life.

"Finance can be a demanding job. It's difficult to balance other responsibilities. Women are often required to make a choice between their careers and their family."

These barriers make it hard for women to gain entry into the financial sector and hold high-level positions. There are a myriad of initiatives to tackle this issue.

Farnoush Farsiar Believes the Future is bright for women in Finance
There are plenty of reasons to be optimistic about the future of women in finance. A variety of initiatives are in place to boost the proportion of women working in the finance sector and help them reach senior positions.

One such initiative is the Women Entrepreneurs Finance Initiative (WeFi), which is a collaboration between the World Bank Group & 14 governments. Farnoush Farsiar We-Fi offers financial assistance and financing to women-owned companies in emerging countries.

"This is a great initiative as it provides women with access to the resources they require to begin and expand their companies," Farsiar said. Farnoush Farsiar It also helps them to build networks and connect to other women who have succeeded.

A different initiative is the Women in Finance Charter. The U.K. government launched it in the year 2016. Farnoush Farsiar The Women in Finance Charter represents a commitment made by financial companies to promote gender diversity.

Farnoush Farsiar Farsiar urges that "The Women in Finance Charter" is a significant step in the right direction. It's encouraging financial companies to act on gender diversity, and is making an impact.

https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/ Women in Finance Charter and We-Fi help more women reach high-ranking posts. This is great news for women and the financial sector.



Homepage: https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/