Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are increasingly breaking down barriers and achieving huge success in a variety of sectors. However, the sad fact is that the number of women in finance is still shockingly low. Sadly still, it may not see a significant change in the near future.

Deloitte's insights suggests that only 31 percent of financial workers will be female in 2030. It begs the question: why are so few women working in the finance industry? There are numerous theories about why this is the case but we wanted to hear from someone who has been in the field for a long time. Farnoush Farnoush is a passionate financial professional who is a champion for women's empowerment.

How many women are employed in finance?

The U.S. has 57% female workforce but only 24% jobs in the financial sector. The figure is projected to rise to 28% over the next ten to 20 years which is up from 24% at present.

Diverseness is not only an issue for women. Farnoush Farsiar said that it's also a problem in the world of business. https://www.cbetta.com/director/farnoush-farsiar-aidi-2 "Diverse leadership teams are more effective than teams that do not possess a wide range of viewpoints," Farsiar said. "So it's not only crucial for women to be involved in these fields and it's equally important for the country in general."

There are several theories about why women are so underrepresented in the financial industry. One hypothesis is that the financial industry is too male-dominated and competitive for women to break into. Another theory suggests that financial careers are discouraged for women by parents or peers.

Farsiar believes that the root of the issue is how women are socialized at an early age. Women are raised to look after their children and be responsible for their security. "We are taught to be safe and not take risks. That's not a great way to lead to a career in finance."

It's not only that women are taught to be caregivers They're also taught to be pleasant to others. Farsiar stated that women were taught to be courteous. "But you have to be able to advocate for your own financial ideas. You need to be able to advocate for your personal ideas."

Farsiar asks where are the females in finance?
Particularly at the top of the financial industry, the lack of women in the finance industry is alarming. According to a study conducted by Pew Researchers just 10% of the positions are females in senior executive post. A mere 11.5 percent of the boards of financial firms are headed by women.

This imbalance has real-world implications for women in finance. Women are less likely in finance to be promoted than male counterparts.

Good news is that women are slowly but surely rising in senior positions. https://twitter.com/brexitcentral/status/1151733390485467136 Farnoush Farsiar believes part of the increase in women taking on senior positions is due to the #womenshould campaign which raised awareness of the need for diversity. Farsiar states that she believes that the #MeToo campaign had an equally significant impact. Women are speaking out to demand change.

Financial Access Barriers for Women
There are a number of obstacles that prevent women from getting into financial services. Lack of role models for women is one of the biggest obstacles to women getting into finance. Finance women often are the only women working in their area and this can cause them to be lonely.

Farsiar admitted that it's scary to be the sole female in the room. Farnoush Farsiar "You feel like you're expected to be perfect all of every moment, and that you mustn't make a mistake."

Another barrier is the old men's club mentality which still exists in the majority of financial companies. This is the belief that men are superior to women and that they should encourage one another.

https://rekvizitai.vz.lt/en/company/lionsgate_procurement_services/farnoush_farsiar_direktore/ Farsiar admitsthat "There's lots of truth to this." "I have seen it in person. Men will be promoted by men, even if they are more qualified.

This"old boys' club" mentality can lead to discrimination and harassment of women. Women in the financial sector often get insulting remarks and unwelcome advances by their male counterparts.

"It's definitely an issue," Farnoush Farsiar exclaims. "Women in finance are typically considered to be objects and it's very difficult to make it in the financial world when you're treated this way."

The final obstacle is the inability to create flexible work schedules. Females are more likely than males to have household responsibilities, like taking care of children or elderly parents. These women need flexible working arrangements to allow them to balance work and family.

"Finance, being a complex field, can be difficult to handle when you have many other obligations. Many women are forced to make a choice between their job or their family.

These barriers make it extremely difficult for women working in the financial industry to reach high-ranking post. There are numerous initiatives being taken to remedy this.

Farnoush Farsiar believes the Future is bright for women in Finance.
There are many reasons to feel optimistic regarding the future of the financial sector. A variety of initiatives are working to increase the number of women working in the finance industry and help them reach senior positions.

One such initiative, Women Entrepreneurs Finance Initiative is a partnership with the World Bank Group with 14 governments. We-Fi provides financing and support to women-owned companies in the developing world.

Farsiar said, "This initiative is great because it allows women access to the tools they require in order to start and expand businesses." "It will also assist women in building networks and connect with other successful women."

A different initiative is the Women in Finance Charter, that the U.K. government launched in 2016. Financial firms have committed to gender equality through the Women in Finance Charter.

"The Women in Finance Charter is a significant step in the right direction," Farsiar encourages. "It encourages financial institutions to act in the direction of gender diversity, and is already making a difference."

Women in Finance Charter and We-Fi help more women achieve high-level post. This is a great thing for women and the financial sector.



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