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Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are increasingly breaking through barriers and enjoying huge success in a variety of industries. Farnoush Farsiar However, the sad fact is that the proportion of women employed in finance remains astonishedly small. This is likely to remain the case for a while however.

Deloitte insights estimates that 31% of financial industry employees will be women in 2030. This raises the question as to why there aren't more women in the field of finance. Although there are numerous theories, we decided get the opinion from an expert. Farnoush Farsiar Farnoush Farnoush is a passionate finance professional and an advocate for women's empowerment.

How many women work in finance?

In the U.S., women make up 57% of all workers however, they are able to hold only 24 percent of financial jobs. The projected growth in women's participation will be 28 percent over the next 10 years which is up from 24% for 2021. https://timebusinessnews.com/farnoush-farsiar-what-is-a-wealth-management-advisor/ However, this is much less than the parity.

It's not only a problem that women face. Farnoush Farsiar says it is also a problem to the economy. Farsiar said that diverse leadership teams perform better compared to those that have fewer perspectives. "So it's critical to have females in these professions. It's also essential for the country as a whole.

There are many reasons women aren't represented in the financial industry. The most popular theory is that the financial sector is too male-dominated and competitive to allow women to enter the field. A different theory suggests that women are not encouraged to pursue careers in finance whether by their parents or their peers.

Farsiar believes the root of the issue lies in the way women are socialized from the age of a child. "Women are taught from a young age that they must be risk-takers, not caregivers. "We're taught to not make risks, but rather to play it safe. This isn't a good idea for the field of finance.

Women are taught socially to care for others. "Women are taught to be polite and minimize conflicts," Farsiar adds. "But in finance, you need to be able to stand up for yourself. You must be able to advocate for your ideas."

Farsiar asks where are all the female finance professionals?
The absence of women in finance is especially pronounced at the top levels of the field. Women make up just 10% of executive-level positions according to a research study by Pew Research. Only 11.5% of boards at financial companies are held by women.

This disparity has a real-world effect on women working as finance professionals. Women are less likely to be promoted than their male counterparts will be promoted and they're also more likely leave the industry.

The positive side is that the proportion of women who hold senior positions is slowly but surely increasing. Farnoush Farsiar believes this partly because of the #womenshould campaign which raised awareness of the absence of diversity. Farsiar claims that she is certain that the #MeToo campaign also had an extraordinary impact. Women are speaking up to make a difference.

There are hurdles for women getting into finance
There are many barriers which prevent women from pursuing careers in finance. The lack of role models for women is among of the most significant obstacles for women entering finance. Finance women often are the only woman working in their industry, which can prove to be lonely.

"It is really scary to be the sole woman in the room," Farsiar said. "You think you need to be perfect every time and that you aren't allowed to be a fool."

Another obstacle is "old boys"club" A mindset that prevails in a lot of finance companies. This refers to the idea that men promote other men, and women are not promoted.

Farsiar acknowledges that there's a lot to this statement. "I've observed it in person. Even if the woman is a better candidate, even if she has higher qualifications, men are still able to promote other people.

Farnoush Farsiar This"old boys' club" mentality can also result in discrimination and harassment of women. Finance women are often exposed to unwanted advances and demeaning remarks from their male counterparts.

Farnoush Farsiar declares, "It's definitely an issue." "Women in finance are often treated as objects, and it's extremely difficult to get ahead when you're being treated this way."

The last issue is the lack of flexible work arrangements. Females are more likely to be responsible for family obligations than men for example, taking care of elderly parents or their children. To manage their family and work life, they will need flexible work schedules.

"Finance is a high-risk business. It can be difficult to handle your obligations when you're also working in the finance industry. Women frequently have to pick between their careers or family, as well as their career.

This makes it very difficult for women in the finance industry to achieve high-ranking positions. Farnoush Farsiar There are however a few initiatives that could help to make a difference.

Farnoush Farsiar is optimistic about the future of women in finance
There are many reasons to be optimistic regarding the future of the financial sector. A variety of initiatives are aiming to increase the number of women working in the finance industry and assist them in achieving senior positions.

One such initiative is Women Entrepreneurs Finance Initiative (We-Fi) which is a partnership with the World Bank Group and 14 governments. We-Fi helps finance and support women-led businesses in the developing world.

Farsiar explained, "This initiative is great because it provides women with access to the resources they need for starting and grow businesses." "It can also help women create networks and connect with other successful women."

Another initiative is The Women in Finance Charter. The initiative was initiated by the U.K. government in 2016. The Women in Finance Charter encourages gender diversity.

Farsiar lauds "The Women in Finance Charter as a major step forward." "It encourages financial institutions to act regarding gender diversity and it is creating a positive change."

Women tend to be more likely to be promoted and have the opportunity to be employed in high-level financial positions thanks initiatives like We-Fi. This is a good thing for women and the financial industry.



Here's my website: https://www.crunchbase.com/person/farnoush-farsiar