Notes

Farnoush Farsiar - Why are women so scarce in finance?
Women are breaking through the barriers and achieving great success across a variety of fields. The sad reality though is that the proportion of women employed in finance remains astonishedly small. It is likely that this trend won't change anytime soon.

According to Deloitte Insights, in 2030, only 31 percent of financial sector employees will be female. It begs the question how come there isn't a lot of women in finance? There are numerous theories. But we wanted to hear from an expert. We conducted an interview with Farnoush Farsiar, an accomplished financial professional who is passionate about women's empowerment.

How many women work in finance?

The U.S. has 57 percent of the workforce is female but only 24% financial jobs. The figure is projected to rise to 28% over the next ten to 20 years increasing from 24% at present.

It's not just a problem that women face. Farnoush Farsiar believes it's also an issue that impacts the economy. Farsiar claimed that teams that have diverse leadership styles perform better than those that have the same views. "So it's crucial that women are 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 financial industry. One hypothesis is that the financial sector is too male-dominated and competitive for women to enter the field. Farnoush Farsiar A different theory suggests that women aren't motivated to take up careers in finance, whether by their parents or their peers.

Farnoush Farsiar Farsiar believes that women's socialization at a young time is at the heart of the problem. Women are taught to take care of their children and take responsibility for their security. "We are taught to be safe and to not risk it all. And that's just not conducive to a successful career in finance."

Women are taught not just to take care of other people but also to be pleasing to people. "Women are taught to be polite and minimize conflict," Farsiar adds. "But in the world of finance, you need to be in a position to defend yourself. It is important to have the ability to support your own ideas.

Farsiar - Where is all the women working in accounting and finance?
Farnoush Farsiar Women are underrepresented in finance at most senior levels. Farnoush Farsiar According to a research study from 2016-17 conducted by Pew. Women also hold only 11.5 percent of the executive positions in financial companies.

This is a real-world issue for women in finance. Women are less likely that their male counterparts will be promoted, and are more likely leave the industry.

The good news is that women are slowly however, steadily, advancing in higher positions. Farnoush Farsiar believes part of this rise in women's senior roles is due the #womenshould campaign , which increased awareness of the need for diversity. Farsiar says she is certain that the #MeToo campaign had an extraordinary impact. Women are beginning to defend their rights and demanding change.

Obstacles for women pursuing finance
A number of obstacles prevent women from pursuing finance careers. One of the most significant barriers is the lack of role models. Women in finance are often the only female in their job and can lead to isolation.

Farsiar acknowledged that it's a bit nerve-wracking to be the only female present in the room. "You are conditioned to be perfect all of the time, and that you're not allowed to commit any errors."

Another issue is the "old boys' club" mindset that persists in many financial firms. This is the idea that men are superior to women, and that men should be promoting each other.

Farnoush Farsiar Farsiar admits "There's a lot truth to that." Farnoush Farsiar "I experienced it myself. Men will be able to promote men even when they are better qualified."

This old boys' club mentality can also result in discrimination and harassment of women. Finance professionals are frequently targeted for sexist comments and unwelcome advances from male colleagues.

"It's certain that it's a problem," Farnoush Farsiar exclaims. "Women who work in finance are often treated as commodities, making it extremely difficult for them to be successful."

The other issue is the inability to create flexible work schedules. Family obligations are more prevalent for women than men. Flexible work schedules are essential to allow them to manage work and family.

"Finance is a very challenging sector. It can be difficult to meet these demands when you have other responsibilities. Women often have to choose between their career or family, as well as their careers.

These obstacles make it extremely difficult for women to enter the finance industry and attain high-level post. There are a variety of initiatives aiming to address this.

Farnoush Farsiar is optimistic about the future of women in finance.
There are many reasons to be hopeful about the future financial industry. Numerous initiatives have been undertaken to boost the number of women employed in finance and assist them to reach higher positions.

One such initiative is Women Entrepreneurs Finance Initiative (WeFi), which is a collaboration between the World Bank Group & 14 governments. We-Fi provides financing and assistance for women-owned enterprises in the developing countries.

Farsiar said, "This initiative is great because it provides women with access to the resources they need to begin and expand their businesses." "It will also assist in building networks and meet with women who are successful."

The Women in Finance Charter was another initiative that the U.K. government launched in the year 2016. The Women in Finance Charter encourages gender diversity.

Farsiar claims that the Women in Finance Charter "is an incredible leap ahead." Financial companies are being encouraged to be proactive about gender diversity and has made an impact.

Women in Finance Charter and We-Fi have helped more women achieve high-level posts. This is a good thing for both women as well as the financial industry.



Here's my website: https://techplanet.today/post/farnoush-farsiar-claims-brexit-helped-the-uk-financial-market-despite-grim-forecasts