Notes

Farnoush Farsiar, Why Are So Few Women in Finance
Women are increasingly breaking down barriers and are finding results in various industries. The sad truth is, yet, women only make up a tiny percentage of finance professionals. It is likely that this trend won't change anytime soon.

According to Deloitte Insights that by 2030 only 31 percent of financial sector employees will be women. This begs the question "Why there aren't more women working in financial services?" Farnoush Farsiar There are many theories out there but we wanted hear from an expert on the matter. Farnoush Farnoush is a passionate financial professional who is a champion for women's empowerment.

What proportion of women are working in finance?

The U.S. employs 57 percent women However, just 24% hold jobs in the financial sector. It is predicted 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 Farsiar said that it's also a problem in the economy. Farsiar asserted that leadership teams that have diverse viewpoints perform better than those with no. "So it is not only vital that women are included in these positions, but it is also crucial for the country as overall."

Farnoush Farsiar There are many theories about the reason women aren't represented in the finance industry. One theory is that the industry of finance is very male-dominated, competitive and difficult for women to join. Another theory is that women aren't advised to pursue careers in finance, either by their parents , or colleagues.

Farsiar believes that the source of the issue is the way women are treated at a young age. Women are raised to take care of their children and to be accountable for their security. "We are taught to stay safe and not take chances. That's not the best way to go about the field of finance.

It's more than just being socialized to look after the children. Women are also taught to be kind to people. Farsiar affirms that women are taught to be courteous, avoid conflicts and maintain their differences in check. "But, in finance you have to be able stand up for your thoughts. Farnoush Farsiar You have to be able to advocate for your ideas."

Farsiar - Where is all the women in finance and accounting?
Women are disproportionately underrepresented in finance at highest levels. Women make up just 10% of the executive positions according to a research study conducted by Pew Research. Also, they hold just 11.5 percent of board seats in financial firms.

This inequality has a direct impact on women who work as financial professionals. This means that women are more likely than males to be promoted, and are more likely to quit the finance sector.

The good news is that the proportion of women who hold senior positions is steadily increasing. Farnoush Farsiar believes that this is due in part to the #womenshould movement, which has brought about a greater awareness of the lack of diversity. Farsiar states that she's "convinced that the #MeToo movement has had a profound impact. Women are now starting to defend their rights and demanding change.

The obstacles for women who want to pursue finance
There are numerous hurdles women face in order to enter the field of the world of finance. The lack of role models is among of the greatest barriers to women entering finance. https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/ https://twitter.com/brexitcentral/status/1151733390485467136 Finance women are typically the only women working in their industry and this can cause them to be lonely.

Farsiar stated that it's daunting to be the only female in the room. "You think you need to be perfect every time and you can't be a fool."

Another barrier is the "old boys"club" mentality that is still prevalent in many finance firms. This is the idea that men are the ones who encourage men and women are excluded.

Farsiar admits that there's much to this claim. Farnoush Farsiar "I've witnessed this happen in person. Men will always promote women even when they have more experience.

This"old-boys' club" mentality can also lead to sexual harassment and discrimination. Women who are financially successful often face demeaning remarks and unwelcome advances made by their male counterparts.

"It's definitely an issue," Farnoush Farsiar exclaims. "Women in finance are often treated like objects, and it's extremely difficult to make it in the financial world when you're being treated that way."

Not to be forgotten, there is the issue of unflexible work arrangement. It is commonplace for women to take on family responsibilities such as caring of parents who are elderly or children. Women need flexible work arrangements to allow them to balance work and home.

"Finance can be a demanding job. It's difficult to keep up with other obligations. Women often have to choose between their careers as well as their family careers.

This makes obtaining senior posts in the financial services sector very difficult for women. There are however some initiatives that can make a difference.

Farnoush Farsiar Thinks There's a Bright Future for Women in Finance
There are many reasons to feel optimistic about the future for women working in finance. Many initiatives have been initiated to increase the numbers of women who work in finance and to assist them to reach higher positions.

One of these initiatives is Women Entrepreneurs Finance Initiative (WeFi) that is a partnership between the World Bank Group & 14 governments. We-Fi provides financial support and assistance to women-owned companies in emerging countries.

Farsiar stated that this is a wonderful initiative because it provides women with the tools to grow and start their own business. It allows them to build networks and network with other female entrepreneurs.

Another initiative is the Women in Finance Charter. The U.K. government launched it in 2016. Farnoush Farsiar Financial firms have committed to gender diversity by signing the Women in Finance Charter.

Farsiar believes that "The Women in Finance Charter" is a huge step forward. "It's encouraging financial institutions to act on gender diversity, and it's creating a positive change."

Women in Finance Charter and We-Fi help more women achieve high-level post. This is good news both for women and the financial industry.



Website: https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/