Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking down barriers and experiencing great success in various fields. However, there are still a few women in finance. Sadly still, it may not be changing anytime soon.

Deloitte's insights says that by 2030, only 31 percent of the workforce will be female financial industry employees. Farnoush Farsiar This raises the question as to why there aren't more women employed in the field of finance. There are numerous theories, we wanted to get the opinion of an expert. Farnoush Farnoush a successful finance professional who is devoted to women's empowerment was the reason we sat down with her.

How many women work in finance?

The U.S. employs 57% women, but just 24% of them hold financial jobs. The number is projected to increase to 28% over the next 10 years from 24% in 2021. However, it's still significantly below the national average.

This isn't just a matter that women face. Farnoush Farsiar believes it's also a problem to the economy. Farsiar said that leadership teams with diverse perspectives are more effective than those with fewer viewpoints. "So it is not only crucial to have women represented in these fields and other positions, but it is crucial for the country as in general."

There are many theories about the reasons why women in the finance industry aren't represented. One theory is that financial services are too male-dominated and competitive for women to enter into. Another theory is that females aren't encouraged by their parents to pursue finance careers.

Farsiar believes the root of the problem lies in how women are socialized from an early age. "Women are taught from an early age to become caregivers, not risk-takers. "We are taught to be safe and to not take risks. That's not the best approach to pursue the field of finance.

It's not enough to have women being trained to be caretakers. They're also taught to be people-pleasers. "Women are taught to be courteous and avoid conflict," Farsiar adds. "But in the field of finance you must be in a position to defend yourself. You need to be able to advocate for your ideas.

Farsiar What are the fate of all the finance women?
Farnoush Farsiar It's especially evident at the top level of finance that there aren't enough women. According to a 2016-2017 survey by Pew, women hold just 10% of the executive-level positions. Also, they hold just 11.5 percent of executive positions in financial companies.

This imbalance has real-world impacts on women who work in finance. This is because women are less likely to be promoted than male counterparts and are more likely to leave the field.

It is good to know that there's an increase in the number of women who are employed in higher roles. Farnoush Farsiar believes it is because of the #womenshould campaign, which has created a greater awareness of the issue of lack of diversity. Farsiar says she believes that the #MeToo campaign produced a profound impact. Women are now starting to assert their rights and demand change.

Women who pursue finance face obstacles
There are many obstacles that hinder women from pursuing finance careers. The lack of role models is just one of the most significant obstacles. Finance women often are the only women working in their area and can be lonely.

Farsiar admitted that it can be intimidating to be alone in a room with just one woman. "You feel under pressure to be perfect and you must avoid making any mistakes.

Another barrier is another one is the "old guys' club" mentality in many finance companies. This is the idea which men encourage other women and that they are excluded.

Farsiar admits that there's much to this claim. "I've seen it happen firsthand. Men will be arousing to other men even if the woman is better qualified.

This old boys' club mentality can also result in discrimination and harassment sexually. A lot of male colleagues in finance often make sexist remarks towards women, and also make inappropriate advances to.

Farnoush Farsiar says, "It is certain that it is a problem." "Women who work in finance are usually treated just like objects. It's not easy to get noticed in a world where women are treated this way."

The final barrier is the absence of flexible working hours. Farnoush Farsiar It is more typical for women to be able to handle household responsibilities, like taking care of their parents, elderly parents, or children. To manage their family and professional lives they'll require flexible work schedules.

"Finance has a high-stakes business. It is difficult to balance your work and family obligations when you're also working in the finance industry. Women frequently have to pick between their work as well as their family.

Farnoush Farsiar These barriers make it extremely difficult for women in the financial industry to reach high-ranking positions. There are several initiatives aiming to address this.

Farnoush Farsiar Thinks There's a bright future for women in Finance
There are plenty of positive reasons to believe in the future of women in finance. Numerous initiatives have been taken to increase the numbers of women working in finance and to assist them in reaching senior positions.

One such initiative is Women Entrepreneurs Finance Initiative (WeFi), which is a partnership between the World Bank Group & 14 governments. We-Fi provides financial support and assistance to women-owned companies in emerging countries.

Farsiar declared, "This is an excellent initiative since it gives women access to the resources they need to help them start and grow their business." "It also helps women build networks and network with other successful women."

Another initiative is the Women in Finance Charter, which the U.K. government launched in 2016. The Women in Finance Charter is a commitment of financial institutions to encourage gender diversity.

Farnoush Farsiar Farsiar believes to "The Women in Finance Charter" is a huge move forward. Financial companies are being encouraged to act on gender diversity, and is making an impact.

Initiatives such as We-Fi as well as the Women in Finance Charter make it easier for women to get into top positions. This is good news for both the financial and women sectors.



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