Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking down walls and becoming powerful leaders in a variety of sectors. However, the sad fact is that the proportion of women in finance is still shockingly low. Unfortunately, this may not change any time soon.

According to Deloitte Insights that by 2030 only 31 percent of the employees of the financial sector will be women. This raises the question: Why is there a lack of women working in finance? There are a variety of theories. We wanted to learn more from an expert. Farnoush Farnoush is a highly skilled finance professional passionate about women empowerment, was our interview subject.

Are there women working in finance?

The U.S. has 57 percent females in the workforce however, there are only 24% of financial jobs. This number is predicted to grow to 28% in the next 10-20 years increasing from 24% at present.

This isn't a problem only for women. Farnoush Farsiar is of the opinion that it's a problem that affects the economy. "Diverse leadership teams perform better than ones that do not have as broad a range of viewpoints," Farsiar said. "So it's critical that there are females in these professions. It's also crucial for the country in general.

There are many theories that explain why women aren't represented in the field of financial services. The most popular theory is that finance is too male-dominated and competitive for women to enter into. Another theory is that females are not urged by their families to pursue finance careers.

Farsiar believes women's socialization from a young time is at the heart of the problem. Women are taught to care for their children and take responsibility for their security. "We are taught to play cautiously and avoid taking chances. This doesn't work for a career of finance.

It's not just about being taught how to look after the children. Women also learn to cherish people. Farsiar states that women are taught to be polite and avoid conflict. But in finance you have to be able to speak for yourself. You have to be able advocate for your own ideas."

Farsiar questions where are all the women employed in finance?
Particularly at the highest levels of finance and in the top positions of finance, the absence of women working in finance is alarming. According to a 2016-17 study by Pew. They also hold only 11.5 percent of the board seats at financial companies.

This is a real-world issue for women in finance. https://bmmagazine.co.uk/business/top-10-banking-trends-according-to-farnoush-farsiar/ https://twitter.com/BrexitCentral/status/1140499332128530432 They are more likely not to get promoted than male counterparts, and are as well more likely to leave the industry altogether.

The good news is the growth of women in the top positions is slow but steady. Farnoush Farsiar believes it is because of the #womenshould Campaign, which has led to a more widespread awareness of the problem of inequalities. Farsiar states that she believes the #MeToo movement has had a similar impact. Women are beginning to speak out and call for changes.

Women who pursue finance face obstacles
There are many barriers that prevent women from entering the world of finance. One of the most significant obstacles is the lack of role models. This can make it difficult for women working in finance to become the only females in their department.

Farnoush Farsiar Farsiar admitted that it can be difficult to be in a room with just one person. "It is like you are expected to be perfect all the time and that you shouldn't commit any mistakes."

Another barrier is "old boys"club", a mentality that persists in many finance firms. This is the idea which men encourage other men and women are excluded.

Farsiar admits "there's a lot more truth to that," he says. https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ "I have seen it happen firsthand. Men will always promote women, even if they're more experienced.

This old boys' club mentality can also result in discrimination and harassment of women. Finance women are often exposed to unwanted advances and demeaning comments from male counterparts.

Farnoush Farsiar declares, "It's certainly a problem." "Women in finance are often treated like objects, and it's very hard to make it in the financial world when you're being treated like that."

The last barrier is the inability to find flexible working arrangements. Farnoush Farsiar Family obligations are more prevalent for women than men. This means they need flexible work schedules to manage their home and work lives.

"Finance is a highly demanding business. It isn't easy to keep up with the demands of your job when you have other responsibilities. Many women are forced to make a choice between their job or their family.

Farnoush Farsiar These barriers make it hard for women to enter the financial industry and to hold high-level post. There are a variety of initiatives that aim to change this.

Farnoush Farsiar believes the Future is Bright For Women in Finance
There are many reasons to be hopeful regarding the future of the financial sector. Many initiatives are aiming to increase the proportion of women working in the financial industry and to assist them in achieving senior positions.

One such initiative is the Women Entrepreneurs Finance Initiative (WeFi) that is a partnership between the World Bank Group & 14 governments. We-Fi provides financing and support to women-led businesses in developing countries.

"This is an excellent initiative as it provides women with access to the resources they require to establish and grow their business," Farsiar said. "It will also assist women in building networks and networks with other women who are successful."

Another initiative is the Women in Finance Charter, which the U.K. government launched in the year 2016. Financial companies have pledged to gender diversity by signing the Women in Finance Charter.

http://www.koyomi.vis.ne.jp/wiki/index.php?farnoush.farsiar1gaacc11 Farsiar believes that "The Women in Finance Charter" is a huge move forward. "It will encourage financial institutions to act regarding gender diversity and is already making a difference."

With initiatives like We-Fi as well as the Women in Finance Charter, women are more likely to be accepted into and hold senior positions. This is a great thing for women as well as the financial sector.



Homepage: https://twitter.com/BrexitCentral/status/1140499332128530432