Notes

Farnoush Farsiar: Why are the women in finance so infrequent?
Women are breaking through barriers and achieving great success across a variety of fields. The unfortunate reality is that the proportion of women employed in finance remains astonishedly small. Unfortunately, this may not be changing anytime soon.

According to Deloitte Insights, in 2030 only 31 percent of financial sector employees will be female. This begs the obvious question: Why are there such a low number of women working in finance. There are a myriad of theories there but we wanted learn from an expert on the subject. We conducted an interview with Farnoush Farsiar, an accomplished finance professional who is passionate about women empowerment.

How many women are employed in finance?

The U.S. employs 57% women However, just 24% of them hold financial jobs. http://www.koyomi.vis.ne.jp/wiki/index.php?farnoush.farsiar1gaacc11 The expected increase in women's participation will be 28 percent over the next 10 years and which is up from 24% in 2021. It's still way below parity.

The absence of diversity isn't only a problem for women. It's also a challenge in the business world, as stated by Farnoush Farsiar. Farsiar said that diverse leadership teams have more impact than teams with fewer viewpoints. "So it's essential that women are represented in these occupations. It's also important for the nation."

There are a variety of reasons women are not represented in the financial industry. One theory states that the financial industry is too male-dominated and competitive for women to make it into. Another theory is that females are not encouraged by their parents to pursue careers in finance.

Farsiar believes that women's socialization at the age of ten is the root of this problem. "Women are socialized from a young age to be caretakers rather than risk-takers. "We are taught to be safe and not take chances. This isn't the best approach to pursue an investment career.

https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf It's not just that women are taught to be caregivers; they're also socialized to be nice to people. "Women are taught to be polite and minimize conflicts," Farsiar adds. "But you need to be able to defend your own ideas regarding finance. You must be able to and willing to advocate for yourself.

Farsiar Asks Where are all the women in finance?
At the top of the financial sector women are disproportionately underrepresented. According to a research study from 2016-17 by Pew. Women hold 11.5 percent of financial company board seats.

This disparity can have real-world effects on women who work in finance. They are more likely than their male counterparts will be promoted, and they're also more likely leave the industry.

It's good to know that there is an increasing number of women who are employed in higher roles. https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 Farnoush Farsiar believes this partly because of the #womenshould campaign which has brought awareness to the lack of diversity. Farsiar claims that she is certain that the #MeToo movement also produced a profound impact. Women are beginning to get their voices heard and are demanding change."

Women are unable to access financial aid because of their gender. from pursuing careers in finance
There are many obstacles that hinder women from advancing into the world of finance. One of the most significant barriers is the lack of role models. It is lonely for women working in finance to be the only woman in their field.

Farsiar admitted that it can be intimidating to be alone in a room with just one person. "You feel that you have to be perfect each time, and you cannot be a fool."

Farnoush Farsiar Another barrier is the "old boys"club" mentality that still exists in many financial firms. This is a reference to the notion that men promote other men and women are not promoted.

Farsiar admitsthat "There's lots of truth to this." "I've witnessed it myself. Men will promote men regardless of whether they're better competent.

Farnoush Farsiar This old boys' club attitude can lead to discrimination and sexual harassment. Finance women are usually confronted with unwelcome advances and demeaning comments from male counterparts.

"It's definitely an issue," Farnoush Farsiar exclaims. https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ "Women working in finance are typically treated like commodities, making it extremely difficult for them to succeed."

The last barrier is the inability to find flexible work arrangements. Women are more likely to take on household responsibilities, such as taking care of elderly parents or children. Women need flexible work arrangements in order to balance work and home.

"Finance is a very demanding industry, and it's hard to manage the demands of your job when you're also juggling other obligations. Women often find themselves forced to choose between family and work.

These barriers make it very difficult for women to enter the finance industry and attain high-level positions. There are many initiatives being taken to remedy this.

Farnoush Farsiar is optimistic about the future of women in finance
There are many reasons to be optimistic about the future for women working in finance. There have been numerous initiatives launched to boost their numbers and reach the highest levels of the financial sector.

Women Entrepreneurs Finance Initiative(We-Fi) is one of these initiatives. It's a partnership with World Bank Group and 14 countries. We-Fi offers financial assistance and financing to women-owned companies in emerging countries.

Farnoush Farsiar Farsiar said, "This program is a excellent one as it provides women the tools and resources to start and grow their companies." "It will also assist them in building networks and connect with other women who are successful."

The Women in Finance Charter, created by the U.K. in 2016, is another initiative. The Women in Finance Charter promotes gender diversity.

https://trungtamytehoavang.com.vn/question/farnoush-farsiar-discusses-how-women-business-leaders-face-the-challenges-3/ Farsiar believes the Women in Finance Charter represents an important step in the right direction. Financial companies are being encouraged to act on gender diversity and has made an impact.

Women in Finance Charter and We-Fi help more women achieve high-level post. This is good news for women and the financial sector.



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