Notes

Farnoush Farsiar - Why are women so scarce in finance?
Women are breaking down barriers and becoming powerful leaders in many industries. The sad truth is that there are still a few women in finance. However, this is unlikely to be changing anytime soon.

Deloitte insight estimates that 31% of financial sector employees will be female in 2030. It begs the question "Why are so few women working in finance?" There are many theories on the internet, but we wanted to learn from an expert on the matter. Farnoush Farnoush was interviewed by us. She is an experienced finance professional who is passionate for women empowerment.

How many women work in the field of finance?

In the U.S., 57% are women, however, they are held in only 24% of the financial jobs. The projected increase in women's participation is 28 percent over the next ten years which is rising from 24% by 2021. This is still much less than the parity.

Diverseness isn't just an issue for women. Farnoush Farsiar is of the opinion that it's a problem that affects the economy. Farsiar explained that teams with different leadership styles are more successful than teams that have the same views. "So it's crucial that females are in these roles. This is also essential for the nation."

There are many theories as to why women are underrepresented in the finance industry. https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ One theory is that the financial industry is too male-dominated and competitive for women to enter. Another theory is that parents and peers don't encourage women to choose finance careers.

Farsiar believes that the source of problem is in the way women are socialized young. Farnoush Farsiar "Women are taught at a young age that they should be risk-takers rather than caretakers. "We are taught not to risk our lives, but instead to be cautious. This is not conducive for the job of a financial analyst.

Women are taught socially to be caring for one another. Farsiar affirms that women are taught to be courteous, avoid conflicts, and maintain their differences in check. "But when it comes to finance, you have to be able stand up for your ideas. Farnoush Farsiar You must be able and willing to advocate for yourself.

Farsiar What are the fate of all the finance women?
Farnoush Farsiar At the highest levels of the financial industry women are disproportionately underrepresented. According to a report by Pew Researchers just 10% of the positions are held by women in senior executive posts. Women hold 11.5 percent of the financial company board seats.

This imbalance could have real-world consequences for women who work in finance. Women are less likely to be promoted than their male counterparts. They're also more likely to leave the field entirely.

The good news is the growth of women in senior positions is slow but steady. Farnoush Farsiar believes that this is in part due to the #womenshould movement, which has led to a greater awareness of the lack of diversity. Farsiar states that she is convinced that the #MeToo campaign also has had a significant impact. Women are speaking out to make a difference.

Women are unable to access financial aid because of their gender. from pursuing careers in finance
There are many barriers which prevent women from pursuing careers in finance. Farnoush Farsiar The lack of role models is among of the most significant obstacles for women getting into finance. It can be lonely for women working in finance, to be the only female in their field.

"It is really scary to be the sole female in the room" Farsiar said. "You feel that you have to be perfect each time and that you aren't allowed to make mistakes."

Another barrier is "old boys' club" A mindset that prevails in a lot of finance companies. It is the belief that men are more favourable to other men, and women are left out.

Farsiar admits "there's more than that," he says. "I have seen it happen in person. Even if the woman is a better candidate, even if she has higher qualifications, men still promote other people.

This"old-boys' club" mentality can lead to the harassment of women and discrimination. Women who are financially successful often face rude remarks and unwelcome advances by their male colleagues.

Farnoush Farsiar declares, "It's definitely a problem." "Women working in finance are often treated like commodities, making it very difficult for them to succeed."

The last obstacle is the absence of flexible working arrangements. It is more typical for women to assume the responsibilities of a family, such as taking care of elderly parents or children. To manage their family and professional lives they'll require flexible work schedules.

"Finance is a complicated field, can be difficult to handle when you have additional responsibilities. Many women are forced to make a choice between their job or their family.

These obstacles make getting high-level post in the financial service industry very difficult for females. There are numerous initiatives being taken to remedy this.

Farnoush Farsiar Thinks There's a Positive Future for Women in Finance
There are numerous reasons to be hopeful regarding the future of the financial sector. A number of initiatives are being implemented to boost women's involvement in the financial market and to assist women as they pursue senior roles.

Women Entrepreneurs Finance Initiative(We-Fi) is one such initiative. It's a partnership with World Bank Group and 14 countries. We-Fi finances and supports women-led enterprises in developing countries.

Farsiar said, "This initiative is great because it gives women access the tools they require in order to start and expand businesses." "It can also help women create networks and network with other women who are successful."

Another initiative is The Women in Finance Charter. It was announced by the U.K. government in 2016. Farnoush Farsiar The Women in Finance Charter is a commitment of companies in the financial sector to promote gender diversity.

Farsiar praises "The Women in Finance Charter as a major step forward." "It's encouraging financial institutions to be proactive about gender diversity, and it's making a difference."

Women are more likely to be promoted and are more likely to be employed in high-level financial positions due to initiatives such as We-Fi. This is good news for women and the financial industry.



Website: https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/