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Farnoush Farsiar - Why are there so few women working in finance?
Women are breaking through walls and finding great success in different industries. However, there are still very few women in finance. Farnoush Farsiar It's likely that this trend won't change any time soon.

Deloitte Web Insights indicates that only 31 percent of workers in the financial industry will be female by 2030. This begs the question: why are so few women working in the finance industry? There are many theories. But we were looking for an expert. Farnoush Farnoush is a highly skilled finance professional passionate about women empowerment is our interview subject.

What is the percentage of women employed in finance?

The U.S. has 57 percent females in the workforce however just 24% jobs in the financial sector. The number is projected to increase to 28% over the next 10 years, from 24% by 2021. However, it's still well below the average.

The lack of diversity isn't just a concern for women. https://bmmagazine.co.uk/business/farnoush-farsiar-on-queen-elizabeth-inclusion-and-diversity/ Farnoush Farsiar says it is also a threat to the economy. Farsiar noted that leadership teams with diverse perspectives perform better compared to those that have fewer perspectives. Farnoush Farsiar "So it's not only crucial that women are represented in these professions and it's equally important for the country as a whole."

There are a number of theories about the reasons women aren't as represented in the financial industry. The most popular hypothesis is that the financial sector is too male-dominated and competitive to allow women to make it into. Another theory is that parents and peers discourage women from pursuing financial careers.

Farsiar believes that the source of problem is in the ways women are socialized in their youth. "Women from a young stage are taught that they should be risk takers and caregivers. "We are taught to be safe and not take risks. It's not conducive to a career of finance.

It's not just that women are conditioned to be caretakers; they're also socialized to be pleasant to others. Farsiar says that women are taught to be courteous and avoid conflict. "But you have to be able to defend your own ideas regarding finance. You must be able to and willing to advocate for yourself.

Farsiar - Where is all the women working in finance and accounting?
It's particularly apparent at the top level of finance that there aren't enough females. According to a study conducted in 2016-17 by Pew. A mere 11.5 percent of the board members in financial institutions are occupied by women.

This imbalance has real-world implications for women in finance. Women are less likely that their male counterparts will be promoted and are more likely to leave the profession.

The good news is the growth of women in high-level positions is not rapid but steady. Farnoush Farsiar believes this partly due to the #womenshould movement which has brought awareness to the absence of diversity. Farsiar believes that the #MeToo campaign has had an amazing influence in her personal life. Women are starting to hear their voice and demand change."

The obstacles for women who want to pursue finance
A number of obstacles prevent women from going into finance. Lack of role models is among the important obstacle. Women in finance are typically the only ones in their departments, which can lead to isolation.

Farsiar admitted that it can be daunting to be in a room with just one woman. Farnoush Farsiar "You are convinced that you need to be flawless every time and you can't make mistakes."

Another problem is another issue is the "old boys' club" mentality still present in many finance firms. This refers to the notion that men favor women over other men while women are not.

"There's lots of truth in it," Farsiar admits. "I experienced it myself. Men will be arousing to other men regardless of whether they are better equipped.

This old boys club mentality can result in sexual harassment or discrimination. Female finance professionals are frequently subjected ostracizing comments and unwanted advances from male colleagues.

Farnoush Farsiar exclaims that "it's certainly a issue." "Women in finance are often treated as objects and it's very difficult to get ahead if you're treated that way."

The last obstacle is the lack of flexible work arrangements. Females are more likely to have family responsibilities than men who are responsible for caring for elderly parents or their children. To manage their family and professional lives it is necessary to have flexible work arrangements.

"Finance is a very stressful industry, and it's hard to keep up with the demands when you're also juggling other obligations. Farnoush Farsiar Women often have to choose between their career as well as their family.

These obstacles make it very difficult to become an experienced financial professional in the senior level and enter the industry. However, there are a few initiatives that could help to in overcoming this.

Farnoush Farsiar Believes the Future is Bright for Women in Finance
There are plenty of reasons to be optimistic about the future of women in the field of finance. A number of initiatives are being taken to increase women's participation in the finance market and to support them in their pursuit of higher-level positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one of the initiatives. It's a collaboration between World Bank Group and 14 countries. We-Fi is a financing and support program specifically designed for women-led companies in developing economies.

Farnoush Farsiar Farsiar said that this was a fantastic initiative because it provides women with the tools to expand and begin their own businesses. Farnoush Farsiar It also allows them to create networks and connect with other successful women.

A different initiative is the Women in Finance Charter, which was launched by the U.K. government launched in the year 2016. The Women in Finance Charter is a pledge made by financial institutions to support gender diversity.

Farsiar claims that the Women in Finance Charter "is an incredible leap in the right direction." "It will encourage financial institutions to take actions on gender diversity. It's making progress."

Women in Finance Charter and We-Fi have helped more women achieve high-level post. This is an excellent thing for both the women and financial sectors.



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