Notes

Farnoush Farsiar: Why are so few women in finance?
Women are breaking through barriers and experiencing great accomplishments in many fields. It is a sad fact that there are very many women in finance. However, this is unlikely to change any time soon.

Deloitte's insights estimates that 31% of financial industry employees will be women in 2030. This raises the obvious question: Why do we have so few women in finance. Farnoush Farsiar There are a variety of theories. We needed to hear from an expert. Farnoush Farnoush an expert finance professional , who is passionate about women's empowerment was our interviewee.

What is the percentage of women employed in finance?

In the U.S., 57 percent are women, however, they hold only 24% of financial posts. It is predicted that this number will rise to 28% over the next 10 years from 24% in 2021. However, this is far below parity.

This is not a problem just for women. Farnoush Farsiar claims it's an issue for the economy. Farsiar stated that leadership teams with diverse perspectives have more impact than teams who have fewer perspectives. "So it's crucial that there are females in these positions. It's also crucial for the country in general.

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

Farsiar believes that women's exposure to socialization from the age of ten is the root of this problem. "Women at a young age are taught to be risk-takers, but caregivers. "We are taught to stay secure and not take chances. This isn't a good way to go to a successful career in finance."

It's not enough that women are trained to be caretakers. They're also socialized as people-pleasers. Farsiar states that women are taught to be polite and avoid conflicts. "But in finance, it is important to be able and willing to speak out for yourself. You should be able and willing to stand up for yourself.

Farsiar asks where are the females working in finance?
Particularly at the top of the financial industry, the lack of women in the finance industry is alarming. Women make up just 10% of the executive positions according to a research study by Pew Research. https://twitter.com/BrexitCentral/status/1152601570447646720 Only 11.5% of boards of financial firms are headed by women.

Farnoush Farsiar This inequality has real-world effects on women working in finance. They are more likely not to get promoted than their male counterparts, and they're as well more likely to leave the field altogether.

The good news is that women are slowly but surely becoming older. Farnoush Farsiar believes part of this increase in women in senior roles is due to the #womenshould campaign which raised awareness of the issue of diversity. Farsiar states that she's "convinced that the #MeToo campaign has had a profound impact. Women are now starting to claim their rights and demand changes.

The obstacles for women who want to pursue finance
There are many obstacles that prevent women from entering the financial world. Lack of role models is just one of these biggest obstacles. Women in finance are often the only woman within their field and can lead to isolation.

Farsiar explained that being the only woman in a room is very intimidating. "You feel pressured to be perfect and not make mistakes.

Another issue is another one is the "old boys' club" mentality that is still prevalent in many financial firms. Farnoush Farsiar It is the belief that men are more favourable to other men, and women are left out.

Farsiar admits "There's plenty of truth in that." "I've seen it happen myself. Men will always promote women even when they are more experienced.

This"old-boys' club" attitude can lead to discrimination and harassment of women. Women in finance are often targeted for sexist comments and unwelcome advances from male counterparts.

Farnoush Farsiar exclaims that "it's certain that there is a problem." "Women in the field of finance are frequently considered objects and it's very hard to make it in the financial world when you're being treated this way."

The last obstacle is the inability to make flexible work schedules. Females are more likely to have family responsibilities than men who are responsible for caring for elderly parents or their children. Women require flexible work arrangements in order to balance work and family.

"Finance has a high-stakes business. It is difficult to balance your work and family obligations while working in finance. A lot of women have to make a choice between their job or their family.

These obstacles make it extremely difficult for women in the finance industry to achieve high-ranking posts. There are a variety of initiatives being taken to remedy this.

Farnoush Farsiar Farnoush Farsiar Believes the Future is Bright for Women in Finance
There are many evidence to suggest that women will continue to work in the field of financial services. A variety of initiatives are in place to boost the number of women working in the financial industry and to assist them in achieving senior positions.

One such initiative is Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments and the World Bank Group. We-Fi helps women-owned businesses in developing nations by providing funding and assistance.

"This is a great initiative as it provides women with access to the resources they need to begin and expand their business," Farsiar said. It also assists them in build networks and connect to other successful women.

A different initiative is the Women in Finance Charter, which the U.K. government launched in 2016. The Women in Finance Charter encourages gender diversity.

Farsiar says the Women in Finance Charter "is an incredible leap forward." "It is encouraging financial institutions to act in the direction of gender diversity, and is already making a difference."

Women in Finance Charter and We-Fi have helped more women reach high-ranking posts. This is a good thing for women and the financial industry.



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