Notes

Farnoush Farsiar: Why are the women in finance so infrequent?
Women are breaking down barriers and experiencing great successes in a variety of fields. The sad reality is that only a few women work in finance. It is likely that this trend won't change anytime soon.

Deloitte insights estimates that 31% of the financial industry employees will be female in 2030. This raises the question: Why do we have so few women in finance. Farnoush Farsiar There are a variety of theories. Farnoush Farsiar We wanted to hear more from an experienced expert. Farnoush Farnoush, a highly skilled finance professional passionate about women empowerment is our interview subject.

How many women are involved in the field of finance?

In the U.S., women make up 57% of the workforce However, they have only 24 percent of financial jobs. The number is projected to grow to 28% over the next 10 years, up from 24% in 2021 - but still far short of parity..

It's not just a problem faced by women. Farnoush Farsiar stated that diversity is an issue for growth in the economy. Farsiar claimed that teams that have different leadership styles are more successful than those that have the same viewpoints. "So it's essential that women are in these roles. This is also essential for the nation."

There are many reasons women are not represented in the financial industry. Farnoush Farsiar One theory is that the financial industry is highly male-dominated and competitive, making it difficult for women to join. Another theory is that females aren't encouraged by their families to pursue careers in finance.

Farsiar believes that the root issue lies in the ways women are socialized in their youth. "Women at a young stage are taught that they should be risk takers and caretakers. "We're taught not to make risky decisions but to be safe. This isn't a good way to go to a career in finance."

It's not only that women are socialized to be caregivers They're also taught to be pleasant to others. https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/ Farsiar states that women are taught to be polite and avoid conflicts. "But in finance you must be able to stand up for yourself. You must be able to and willing to stand up for yourself.

Farsiar What are the fate of all the finance women?
Women are particularly underrepresented in finance, particularly at the most senior levels. A 2016-2017 study done by Pew research discovered that women account for only 10% of executive positions. Women hold 11.5 percent of the financial company board seats.

This has real-world implications for women working in finance. This is why women are more likely than men to be promoted and are more likely to leave the finance industry.

It is good to know that there is an increase in the number of women who are employed in higher positions. Farnoush Farsiar believes the reason for this growth is because of the #womenshould movement which has raised awareness about the lack of diversity. Farsiar believes that #MeToo has had an amazing impact in her personal life. Women are beginning to recognize their voices heard and demanding change."

Women's financial access is a challenge for women.
There are numerous obstacles which prevent women from pursuing careers in finance. One of the most significant barriers is the absence of role models. Finance women are typically the only women working in their field, which can prove to be lonely.

Farsiar admitted that it's a bit daunting to be the only female present in the room. "You feel expected to be perfect at all times and that there can't be any mistakes."

Another barrier is another one is the "old boys' club" mindset that persists in many finance firms. This is a reference to the idea that men favor women over other men, while women are excluded.

Farsiar acknowledges that there's a lot to this statement. "I have witnessed it in person. Men will make other men feel superior even when the woman is more qualified."

This"old boys' club" mentality can lead to discrimination and harassment of women. Women in finance are frequently subject to unwelcome advances and demeaning comments from male colleagues.

Farnoush Farsiar says, "It is definitely an issue." Farnoush Farsiar "Women in Finance are often treated as objects. It's difficult to advance in a world where you're treated like a commodity."

Then, there is the issue of flexible working arrangement. Females are more likely have family responsibilities than men who are responsible for caring for elderly parents or their children. Flexible work schedules are essential to allow them to balance work and family life.

"Finance can be a demanding job. It's difficult to keep up with other responsibilities. Women often have to choose between their career, their family and their careers.

This makes it difficult to become a senior financial professional and to enter the field. There are many initiatives to combat this problem.

Farnoush Farsiar Believes the Future is Bright for Women in Finance
There are plenty of positive reasons to believe in the future of women in the field of finance. Several initiatives are working to increase the number of women working in the finance industry and help them reach senior positions.

One example of such an initiative is Women Entrepreneurs Finance Initiative which is a partnership of 14 governments as well as the World Bank Group. We-Fi provides financial assistance and financing for women-led enterprises in developing countries.

Farsiar explained, "This initiative is great because it provides women with access to the tools they require for starting and expand businesses." It helps them create networks and connect with other female entrepreneurs.

Another initiative is The Women in Finance Charter. It was announced by the U.K. government in 2016. Financial firms have committed to gender diversity through the Women in Finance Charter.

Farsiar praises "The Women in Finance Charter as a great step forward." Farnoush Farsiar "It will encourage financial institutions to act on gender diversification, and is making a difference."

Through initiatives such as We-Fi as well as the Women in Finance Charter, women are more likely to join and take on senior roles. This is good news for both females and the financial sector.



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