Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are increasingly breaking down barriers and experiencing amazing success in many industries. It is a sad fact, yet, women make up a small percentage of financial professionals. However, this is unlikely to change anytime soon.

Deloitte's insights shows that just 31 percent of finance professionals will be female by 2030. This raises the obvious question: Why are there so few women in finance. There are a variety of theories. We wanted to learn more from an experienced expert. We conducted an interview with Farnoush Farsiar an experienced financial professional who is passionate about women empowerment.

How many women are in the field of finance?

In the U.S., 57 percent are women, but they hold just 24% of financial positions. It is anticipated that this number will rise to 28% over the next 10 years, compared to 24 percent in 2021. However, it is well short of the parity.

This isn't a problem just for women. It's also a problem for the economy, said Farnoush Farsiar. Farsiar noted that leadership teams with diverse perspectives have better results than teams with fewer perspectives. "So it's essential that women are in these positions. It's also essential to the country in general.

There are many theories that explain why women aren't represented in the financial industry. One theory is that the market for financial services is too male-dominated and competitive for women to make it into. Another theory is that women are not motivated to pursue careers in finance, either by their parents , or peers.

Farsiar believes the root of the issue is how women are socialized at a young age. Women are taught to take care of their children and be responsible for their security. "We are taught to play safe and not take chances. This is not conducive for a career as an analyst of financials.

Women are taught to be caring for one another. Farsiar said that women were taught to behave politely. However, in the field of finance you have to be able to be able to speak for yourself. You must be able and willing to advocate for yourself.

Farsiar asks , where are all the women who work in finance?
It's particularly apparent at the top level of finance that there aren't enough women. According to a study conducted by Pew Researchers only 10% of the positions are employed by women in top executive post. https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times Women are the holders of 11.5 percent of the financial company board seats.

This disparity can have real-world effects on women working in finance. Farnoush Farsiar Females are more likely to be employed in finance to get promoted than male counterparts.

It is good to know that women are slowly but surely rising in senior posts. Farnoush Farsiar believes the reason for this growth is because of the #womenshould movement, which has increased awareness of the issue of diversity. Farsiar states that she believes that the #MeToo campaign has had a similar impact. Women are becoming more vocal and demanding changes.

Financial Access Barriers for Women
There are many barriers that prevent women from entering financial services. The absence of role models is among the significant obstacle. It is lonely for women in finance, to be the sole female in their field.

Farsiar admitted that it's a bit daunting to be the only female in the room. "You expect to be perfect every time and there must be no mistakes."

Another problem is another issue is the "old boys club" mentality that is still present in many finance firms. This is the idea that men support other men and women are excluded.

Farsiar admits "there's lots of truth to that," he says. Farnoush Farsiar "I experienced it myself. Men will make promotions for men, regardless of whether they're better qualified.

This"old-boys' club" mentality can result in the harassment of women and discrimination. Farnoush Farsiar Finance professionals are frequently subjected to demeaning comments and unwelcome advances by their male counterparts.

Farnoush Farsiar declares, "It's certain that there is an issue." "Women who work in finance are usually treated like commodities, which makes it extremely difficult for them to succeed."

The last obstacle is the lack of flexible working hours. Family responsibilities are more common for women than men. They need flexible work arrangements to balance their family and work schedules.

"Finance is a highly demanding business. It can be challenging to manage these demands even when you are also juggling other obligations. A lot of women have to choose between their career or their family.

These obstacles make it extremely difficult for women to enter the financial sector and achieve senior post. However, there are a few initiatives that can change this.

Farnoush Farsiar Thinks There's a Positive Future for Women in Finance
There are numerous reasons to feel optimistic about the future financial industry. Many initiatives are in place to boost the proportion of women working in the finance sector and help them reach senior positions.

One example of such an initiative is the Women Entrepreneurs Finance Initiative, a partnership between 14 governments and the World Bank Group. https://blackcowriefinance.com/2020/12/21/financial-services-will-enjoy-a-brexit-boom-if-the-regulators-let-us-take-advantage-of-the-opportunities-it-presents/ We-Fi supports women-led companies in the developing world by providing financial assistance and support.

Farsiar declared that this was a fantastic initiative, as it gives women the tools they need to expand and begin their own companies. "It also helps build networks and networks and also meet with women who have made it successful."

The Women in Finance Charter was another initiative the U.K. government launched in the year 2016. The Women in Finance Charter aims to encourage gender diversity in financial institutions.

Farsiar believes to "The Women in Finance Charter" is a significant move forward. It urges financial companies as well as other companies to tackle gender diversity.

Women can now enter the top positions in organizations like We-Fi and Women in Finance Charter. This is a good thing for women and men as well as the financial sector.



Here's my website: https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653