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Farnoush Farsiar, Why Are So Few Women in Finance
Women are increasingly breaking down barriers and achieving great results in various sectors. However, the sad truth is that only a tiny percentage of women work in finance. It is unlikely that this trend will change anytime soon.

Farnoush Farsiar According to Deloitte Insights, in 2030 only 31 percent of employees in the financial sector will be female. This raises the one-of-a-kind question: Why are there a lack of women in finance? There are many theories out there, but we wanted to learn from an expert on the matter. Farnoush Farnoush a highly successful financial professional who is deeply committed to women's empowerment was the reason we interviewed her.

How many women work in the field of finance?

The U.S. has 57 percent females in the workforce however, there are just 24% jobs in the financial sector. This number is predicted to increase to 28% over the next ten to 20 years, up from the current 24.

This isn't just a matter facing women. Farnoush Farsiar said that diversity can be a problem for economic growth. Farsiar claimed that leadership teams with differing perspectives are more effective than those without. Farnoush Farsiar "So it's essential that women are included in these positions. It's also important for the nation."

There are several theories as to why women are so underrepresented in the finance industry. One theory suggests that the market for financial services is too male-dominated and competitive for women to make it into. Another theory suggests that females are not encouraged by their families to pursue careers in finance.

Farsiar believes the root of the issue lies in the way women are treated from a young age. "Women are socialized at a young age to be caretakers , rather than risk-takers. "We're taught to play it safe, not to take risks. This isn't conducive to an enviable career in the financial.

Farnoush Farsiar It's more than just being taught to care for their children. Women are also taught to cherish people. Farsiar said women were taught to be courteous. "But in finance it is essential to be able to stand up for yourself. Farnoush Farsiar You should be able to speak up for your ideas.

Farsiar: Where are all the Finance Women?
The dearth of women working in finance is particularly apparent at the top levels of the industry. Women are only about 10% of the executive positions, according to a 2016-2017 study conducted by Pew Research. Women are the holders of 11.5 percent of financial company board seats.

This imbalance could have real-world consequences for women in finance. This imbalance means that women are less likely than males to be promoted and more likely to leave the finance industry.

It is good to know that there's an increase in the number of women working in senior roles. Farnoush Farsiar believes part of this rise in women's senior roles is due the #womenshould movement which increased awareness of the need for diversity. Farsiar believes that #MeToo has had a profound impact in her personal life. Women are beginning to get their voice and demand change."

Financial Access Barriers for Women
There are numerous obstacles that hinder women from entering finance. A lack of role models is one of these biggest obstacles. It is lonely for women in finance to be the sole woman in their field.

Farsiar admitted that it can be intimidating to be the only female present in the room. "You think you need to be flawless every time and you can't be a fool."

Another barrier is the old men's club mentality, that persists in the majority of financial companies. This is the idea which men encourage other men and women are excluded.

Farsiar admits "there's more real," he says. "I've seen it happen firsthand. Men will be arousing to other men even if women are more qualified.

This old boys' club mentality may also lead to discrimination and harassment of women. Female finance professionals are often targeted for ostracizing remarks or unwanted advances from male colleagues.

Farnoush Farsiar says, "It is certainly an issue." Farnoush Farsiar "Women who work in finance are typically treated like objects. It's not easy to make it big in a world where women are treated this in that way."

Not to be forgotten it is the issue of unflexible work arrangement. Females are more likely than males to have family responsibilities, such as caring for elderly or children parents. They need flexible work arrangements to manage their home and work.

"Finance is a very complex field, can be difficult to handle when you have other responsibilities. Women are often forced to make a choice between their careers and their family."

This makes obtaining high-level positions in the financial services sector very difficult for women. There are however a few initiatives that can help change this.

Farnoush Farsiar believes that the future is bright for women in finance.
There are numerous reasons to feel optimistic about the future of the financial industry. Many initiatives have been launched to increase the number and reach the top of the financial industry.

One such initiative is the Women Entrepreneurs Finance Initiative which is a partnership of 14 governments as well as the World Bank Group. We-Fi provides financing and assistance for women-led businesses in developing countries.

Farsiar stated, "This program is a fantastic one since it provides women access and the resources to establish and grow their businesses." "It can also help women create networks and connect with other women who have succeeded."

The Women in Finance Charter, launched by the U.K. in 2016, is an additional initiative. The Women in Finance Charter promotes gender diversity.

Farsiar praises "The Women in Finance Charter as a major step forward." "It will encourage financial institutions to adopt actions regarding gender diversity, it's making strides."

Initiatives such as We-Fi as well as the Women in Finance Charter make it easier for women to move into leadership roles. This is great news for both the financial and female sectors.



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