Notes

Farnoush Farsiar: Why are so few women in finance?
Women are breaking down barriers and becoming great leaders in various industries. However, there are still a few women in finance. However, this is unlikely to be changing anytime soon.

Deloitte Web Insights reports that just 31 percent of workers in the financial industry will be female by 2030. This raises the question "Why there aren't more women working in the finance industry?" While there are numerous theories, we decided hear the opinions from an expert. Farnoush Farnoush an expert financial professional who is passionate about women's empowerment, was our interview subject.

How many women are involved in finance?

The U.S. has 57% female workforce however, there are just 24% of financial jobs. The projected increase in women's participation is 28 percent over the next ten years and which is up from 24% in 2021. This is still way below parity.

https://kwafoo.coe.neu.edu:7788/git/farnoush.farsiar1daadd11 The absence of diversity isn't just a problem for women. Farnoush Farsiar thinks it's an issue that impacts the economy. Farsiar said that leadership teams with diverse perspectives have better results than teams that have fewer perspectives. It's crucial that women be represented in these fields. However, it's also essential for the nation.

There are many theories as to why women are so underrepresented in the financial sector. The most popular hypothesis is that the financial sector is too male-dominated and competitive for women to enter the field. Another theory states that financial careers are discouraged for women by peers or their parents.

Farsiar believes that women's socialization in their early years is the root of the issue. "Women are taught from a young age to be caregivers rather than risk-takers. "We're taught not to take risky decisions but to play it safe. This doesn't help being a successful career financially.

It's not only that women are socialized to be caregivers; they're also socialized to be people-pleasers. Farsiar explains that women are indoctrinated as courteous and are taught to reduce conflicts. "But you need to be able to advocate for your own financial ideas. You must be able and willing to advocate for yourself.

Farnoush Farsiar Farsiar - Where are all the women working in the accounting and finance fields?
Women are particularly underrepresented in finance, particularly at the most senior levels. According to a 2016-17 study conducted by Pew. There are only 11.5 percent of women are on the top financial boards.

This disparity has a real-world effect on women who work as financial professionals. This is because women are less likely to be promoted than male counterparts and are more likely not to stay in the industry.

http://p1spb.ru/user/Farnoush-Farsiar6cffcc11/ The positive side is that the proportion of women who hold senior positions is gradually but steadily growing. Farnoush Farsiar believes this partly due to the #womenshould movement which raised awareness of the absence of diversity. Farsiar declares that she is "convinced that the #MeToo campaign has also had an impact. Women are now more vocal and insisting on change.

Financial barriers that prevent women from pursuing careers in finance
Many barriers prevent women entering the financial world. The absence of role models is among the important obstacle. Finance women are typically the only woman working in their area, which can prove to be lonely.

Farsiar explained that being the sole woman in a room could be extremely daunting. "It makes you feel like you need to be flawless every single day and that you shouldn't commit any mistakes."

Another obstacle is another one is the "old boys"club" mindset that persists in many finance firms. This is the idea that men favor other men and women are not considered.

Farsiar admits "there is a lot of truth in that." "I have witnessed it personally. Men will be able to promote men regardless of whether they are better qualified."

The old boys' club mentality can also lead to sexual harassment or discrimination. Finance women are usually exposed to unwanted advances and demeaning remarks from their male counterparts.

Farnoush Farsiar exclaims that "it's certainly a issue." "Women in finance are typically considered to be objects and it's very difficult to get ahead in a world where you're treated as a commodity."

Then, there is the issue of unflexible work arrangement. Women tend to be more likely to have household responsibilities, such as caring for parents who are elderly and children. Women require flexible work arrangements to allow them to balance work and family.

"Finance is a highly demanding industry, and it's hard to manage the demands of your job with other obligations. Women are often forced to make a choice between their careers and their family."

This makes it difficult to be a top financial professional and get into the business. There are several initiatives aiming to address this.

Farnoush Farsiar is optimistic about the future of women working in finance.
There are plenty of positive reasons to believe in women's future in finance. Numerous initiatives have been taken to increase the number of women working in finance and assist them to reach higher positions.

One example of such an initiative is Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments as well as the World Bank Group. We-Fi helps women-owned businesses in the developing world by providing financing and support.

Farsiar said, "This program is a excellent one as it provides women access to resources and opportunities to start and grow their companies." "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 2016. Farnoush Farsiar The Women in Finance Charter is designed to promote the inclusion of women in financial institutions.

Farnoush Farsiar "The Women in Finance Charter is a significant step in the right direction," Farsiar encourages. Financial companies are being encouraged to be proactive about gender diversity, and is making an impact.

Initiatives such as We-Fi or initiatives like the Women in Finance Charter make it easier for women to climb into senior posts. This is a good thing for women and the financial industry.



Homepage: https://kwafoo.coe.neu.edu:7788/git/farnoush.farsiar1daadd11