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Farnoush Farsiar: Why are there so few women in finance?
Women are breaking through the barriers and achieving amazing success in a range of fields. However, there are still very few women in finance. But, unfortunately, this will not be changing anytime soon.

Farnoush Farsiar Deloitte insight estimates that 31% of financial industry employees will be female by 2030. Farnoush Farsiar This raises the obvious question: why are there so few women in finance. There are a myriad of theories on the internet but we wanted hear from an expert on the subject. Farnoush Farnoush an expert financial professional who is passionate about women's empowerment, was our interview subject.

Farnoush Farsiar How many women are involved in finance?

In the U.S., women make up 57 percent of all workers however, they are able to hold just 24% of financial jobs. This is expected to increase to 28% in the next 10 years, up from 24% in 2021 - but still far short of parity..

The absence of diversity isn't just a problem for women. Farnoush Farsiar thinks it's a problem that affects the economy. Farsiar said that leadership teams with diverse perspectives perform better compared to those with fewer perspectives. It is crucial for women to be included in these fields. https://bmmagazine.co.uk/business/top-10-banking-trends-according-to-farnoush-farsiar/ It's also vital for the country.

There are many theories about the reasons why women in the finance sector aren't as well represented. One hypothesis is that the finance industry is too male-dominated and competitive for women to make it into. A different theory suggests that their mothers and colleagues discourage women from pursuing financial careers.

Farsiar believes the root of the issue lies in the way women are treated from a young age. Women are taught to take care of their children and to be accountable for their safety. "We're taught to be safe and not to risk our lives. This is not conducive for a career as an analyst of financials.

It's not just about being taught how to care for the children. Women also learn to be kind to people. "Women are taught to be courteous and reduce conflict," Farsiar adds. "But in the world of finance you must be able to stand up for yourself. You have to be able advocate for your own ideas.

Farsiar asks where are all the women employed in finance?
The dearth of women working in finance is particularly evident at the top levels of the business. Women are only about 10% of the executive positions, according to a 2016-2017 study by Pew Research. https://www.heritage.org/testimony/transatlantic-policy-impacts-the-us-eu-trade-conflict Just 11.5 percent of the boards of financial firms are headed by women.

This imbalance has real-world impacts on women who work in finance. This means that women are less likely than men to be promoted and more likely to leave finance.

The best part is that that the growth of women in high-level positions is not rapid but steady. https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/ Farnoush Farsiar believes that this is partly due to the ##womenshould campaign, which has led to an increased awareness of the lack of diversity. Farsiar says she believes that the #MeToo movement had an equally significant impact. Women are now starting to assert their rights and demand change.

There are hurdles for women getting into finance
There are numerous hurdles women must overcome to be successful in financial services. Lack of role models is a significant obstacle. It can be lonely for women in finance to be the sole female in their field.

Farsiar acknowledged that it is difficult to be in a room that is only one person. "It makes you feel like you need to be flawless every time, and that you shouldn't make any errors."

Another issue is the men's club mentality, which still exists in many financial firms. This refers to the notion that men favor women over other men and women are left out.

Farsiar admits "there is some truth to that." "I have seen it in person. Men will be able to promote men even when the woman is more qualified."

This mindset of the old boys can lead to discrimination and harassment of women. Female finance professionals are frequently confronted with ostracizing remarks and unwelcome advances from male colleagues.

"It's certain that it's a problem," Farnoush Farsiar exclaims. "Women in Finance are often treated like objects. It's tough to advance in a world where you're treated like a commodity."

The other issue is the inability to find flexible work arrangements. Family obligations are more frequent among women than for men. They require flexible work schedules to manage their home and work.

"Finance is a stressful job. Farnoush Farsiar It can be difficult to manage other obligations. Women often have to choose between their career as well as their family professions.

This makes obtaining senior posts in the financial services sector very difficult for women. There are many initiatives to address this issue.

Farnoush Farsiar believes the Future is Bright For Women in Finance.
There are many reasons to be optimistic about the future of the financial industry. There are numerous initiatives that aim to increase the number of women working in the finance sector and to help them reach higher post.

One of these initiatives is the Women Entrepreneurs Finance Initiative (We-Fi), a partnership with the World Bank Group and 14 governments. We-Fi is a financing and support program specifically designed for women-led companies in developing economies.

Farsiar explained, "This initiative is great because it allows women access to the tools they require in order to start and expand their businesses." It also helps them build networks and connect with other female entrepreneurs.

Another initiative is The Women in Finance Charter. The initiative was initiated by the U.K. government in 2016. The Women in Finance Charter aims to encourage gender diversity by financial institutions.

"The Women in Finance Charter is a great step forward," Farsiar encourages. "It's encouraging financial companies to take action on gender diversity, and it's making a difference."

Women tend to be more likely to be promoted and have the opportunity to hold senior financial positions thanks initiatives like We-Fi. This is a good thing for women and men as well as the financial sector.



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