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Farnoush Farsiar - Why are there so few women working in finance?
Women are breaking through barriers and experiencing great successes in a variety of fields. However, the sad fact is that the percentage of women working in finance is still shockingly low. It may not change soon but it will be a long time before that happens.

Deloitte's insights says that by 2030, only 31 percent of the workforce will be female financial sector employees. This begs a question: why are there so little women in the finance industry? Although there are many theories on why this is, we would like to hear from someone who's been in the field for some time. Farnoush Farnoush is a passionate finance professional and an advocate for women's empowerment.

How many women work in the field of finance?

In the U.S., women make up 57 percent of all workers however, they are able to hold just 24 percent of the financial positions. The expected increase in women's participation is 28 percent over the next 10 years and which is up from 24% in 2021. However, this is way below parity.

The absence of diversity isn't just a concern for women. Farnoush Farsiar believes it's an issue for the economy. Farsiar claimed that teams that have different styles of leadership perform better than those that have the same views. "So it's not just important for women to be involved in these fields and it's equally important for the country as a whole."

There are many theories on why women in the finance sector are underrepresented. One theory is that the finance industry is too male-dominated and competitive for women to make it into. Another theory states that financial careers are viewed as a deterrent for women by peers or parents.

Farsiar believes women's socialization from the age of ten is the root of this problem. "Women are socialized from an early age to be caretakers rather than risk-takers. "We're taught to play safe, not to take risks. It's not conducive to a career of finance.

It's not only that women are conditioned to take care of their children; they're also socialized to be pleasant to others. Farnoush Farsiar Farsiar claimed that women were taught to be polite. "But you have to be able to defend your own financial ideas. It is crucial to be able support your personal ideas.

Farsiar asks where are all the Women in Finance?
Women are underrepresented in finance, particularly at the top levels. According to a report by Pew Researchers only 10% of the positions are employed by women in top executive positions. In addition, they only hold 11.5 percent of the executive positions at financial companies.

This inequality has real-world effects on women working in finance. They are more likely than their male colleagues will be promoted, and they're also more likely leave the industry.

The positive side is that the amount of women in senior roles is slowly but surely increasing. Farnoush Farsiar believes that this is partly due to the #womenshould movement, which has led to a greater awareness of the absence of diversity. Farsiar claims that she is certain that the #MeToo movement also has had a significant impact. Women are beginning to defend their rights and demanding change.

The obstacles for women who want to pursue finance
There are many obstacles that prevent women from getting into finance. A lack of role models is one major barrier. It can be lonely for women in finance, to be the sole female in their field.

Farsiar explained that being the only woman in a room can be quite intimidating. "It is like you are expected to be perfect every single day and that you shouldn't make any errors."

Another issue is the "old boys club" mentality that is still present in many finance firms. It is a belief that men are better than women and men should promote one another.

Farsiar admits "there is a lot of truth in that." Farnoush Farsiar "I have seen it happen firsthand. Men are always promoting women regardless of whether they are more experienced.

This"old boys' club" mentality may also lead to discrimination and harassment of women. Women who are financially successful often face demeaning comments and unwelcome advances from their male counterparts.

Farnoush Farsiar declares "It's certainly an issue." "Women in Finance are often treated as objects. It's hard to make progress when you're treated this way."

Farnoush Farsiar Not to be forgotten, there is the issue of inflexible working arrangement. Women tend to be more likely to have the responsibility of taking care of elderly parents or children. Women need flexible work arrangements to allow them to balance work and home.

"Finance can be a very demanding job. It's hard to manage other responsibilities. Women often are having to make a choice between family and work.

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

https://twitter.com/brexitcentral/status/1151733390485467136 Farnoush Farsiar believes the Future is Bright For Women in Finance.
There are many reasons to feel positive about the future of women in finance. There are many initiatives designed to boost the numbers of of females employed in the financial industry and help them achieve senior post.

One of these initiatives is the Women Entrepreneurs Finance Initiative (WeFi) It is a partnership of the World Bank Group & 14 governments. We-Fi supports women-led companies in developing nations by providing funding and assistance.

Farsiar stated, "This program is a fantastic one since it provides women the tools and resources to start and grow their businesses." "It can also help women create networks and networks with other women who are successful."

The Women in Finance Charter was another initiative the U.K. government launched in the year of 2016. The Women in Finance Charter is a commitment of financial firms to promote gender diversity.

Farsiar claims that the Women in Finance Charter "is an amazing leap ahead." "It encourages financial firms to take actions on gender diversity and is moving forward."

Through initiatives such as We-Fi as well as the Women in Finance Charter, women are more likely to be accepted into and reach senior positions. This is a great thing for women and the financial industry.



Read More: https://suite.endole.co.uk/insight/people/25691618-farnoush-farsiar-aidi