Notes

Farnoush Farsiar: Why are so few women in finance?
Women are breaking through barriers and achieving great successes in a variety of sectors. The sad reality is that the majority of women are employed in finance. It's unlikely to change, unfortunately.

Deloitte insights says that by 2030, only 31 percent of the workforce will be female employees in the financial sector. This raises the one-of-a-kind question: Why are the gender gap so low in the finance industry? There are a myriad of theories there, but we wanted to get an opinion from an expert in the field. Farnoush Farnoush has been interviewed by us. She is a seasoned finance professional who is passionate about women's empowerment.

How many women are involved in the field of finance?

In the U.S., 57 percent are female, yet they are held in just 24% of the financial positions. It is anticipated that this number will rise to 28% within the next 10 years, compared to 24% in 2021. However, it is well short of the parity.

Diversity isn't only an issue that affects women. Farnoush Farsiar thinks it's an issue that has an impact on the economy. Farsiar explained that teams with different styles of leadership perform better than those with the same range of viewpoints. "So it is not only important that women are included in these professions however, it is crucial for the country as in general."

There are many theories on the reasons why women in the finance industry aren't as well represented. The most popular theory is that the financial sector is too masculine and competitive to allow women to make it into. Another theory suggests that females are not urged by their families to pursue careers in finance.

Farsiar believes that the socialization of women from an early age is the cause of the issue. "Women are taught from a young age that they need to be risk-takers, not caregivers. "We are taught to play cautiously and avoid taking chances. This doesn't work for the field of finance.

Women are socialized not only to look after other people, but also to please people. Farsiar states that women are taught to be polite, minimize conflict and maintain their differences in check. "But when it comes to finance, you have to be able be a voice for your own ideas. You have to be able to defend your own ideas."

Farsiar asks where are all the women working in finance?
Women are particularly underrepresented in finance at most senior levels. According to a study conducted between 2016 and 2017 conducted by Pew the women in finance hold only 10% of executive posts. There are only 11.5% are women in the top financial company boards.

This is a real-world issue for women who work in finance. This is why women are more likely than males to be promoted, and are more likely to leave finance.

https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ The good news? Women are slowly but surely becoming older. Farnoush Farsiar believes this partly because of the #womenshould campaign that has raised awareness about the lack of diversity. Farsiar says that she is "convinced that the #MeToo movement has had a profound impact. Women are starting to hear their voices heard and are demanding change."

Barriers to Women Getting into Finance
There are many barriers that prevent women from entering the world of finance. One of the main obstacles is the lack of role models. Finance women often are the only women working in their field and can be lonely.

Farsiar admitted that it can be intimidating to be alone in a room with only one woman. "You are you are under pressure to do your best and must not make any mistakes.

Another issue is the "old boys' club" mentality that is still prevalent in many financial firms. https://www.anochords.org/farnoush-farsiar-why-are-so-few-women-in-finance/ This refers to the notion that men favor women over other men, while women are excluded.

Farsiar admits that "there's more truth to that," he says. "I've observed it in person. Men will be arousing to other men even if the woman is better qualified.

The old-fashioned mentality can lead sexual harassment and discrimination. Male colleagues in finance often make demeaning comments to women and make inappropriate advances.

Farnoush Farsiar says, "It is definitely an issue." "Women working in finance are typically treated as commodities, making it difficult for them to succeed."

The final obstacle is the inability to find flexible work schedules. Women are more likely to take on household responsibilities, such as caring for elderly parents and children. This means they need flexible work schedules to manage their personal and professional lives.

"Finance is a complicated industry, is hard to handle when you have many other obligations. Women are often forced to make a choice between their job or family.

This makes it very difficult for women working in the financial sector to attain higher-level post. There are a myriad of initiatives to tackle this issue.

Farnoush Farsiar is optimistic about the future of women in finance.
Farnoush Farsiar There are numerous reasons to be hopeful regarding the future of the financial sector. Numerous initiatives have been undertaken to increase the numbers of women employed in finance, and also to help them in reaching senior positions.

Farnoush Farsiar Women Entrepreneurs Finance Initiative(We-Fi) is one of these initiatives. It's a partnership with World Bank Group and 14 countries. We-Fi helps finance and support women-led businesses in the developing world.

Farsiar said, "This initiative is great because it provides women with access to the resources they need to begin and expand businesses." "It can also help build networks and meet with women who are successful."

Another initiative is the Women in Finance Charter. It was announced by the U.K. government in 2016. Financial firms have committed to gender diversity by signing the Women in Finance Charter.

Farsiar believes to "The Women in Finance Charter" is a huge step in the right direction. https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/ It urges financial companies and other organizations to address gender diversity.

Through initiatives such as We-Fi as well as the Women in Finance Charter, women are more likely to join and hold senior positions. This is an excellent thing for both the financial and women sectors.



Homepage: https://www.anochords.org/farnoush-farsiar-why-are-so-few-women-in-finance/