Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through barriers and becoming powerful leaders in a variety of sectors. However, the sad fact is that the proportion of women working in finance is still shockingly low. It's likely that this trend won't change any time soon.

Deloitte's insights indicates that just 31 percent of financial workers will be female by 2030. This begs the obvious question: why are there so few women in finance. There are many theories there but we wanted hear from an expert on the matter. This is why we spoke with Farnoush Farsiar an accomplished finance professional who is passionate about women empowerment.

How many women are involved in finance?

In the U.S., women make up 57% of all workers However, they hold only 24% of financial jobs. The figure is projected to rise to 28% within the next 10-20 years which is up from 24% currently.

Diverseness is not only a problem faced by women. Farnoush Farsiar is of the opinion that it's an issue that impacts the economy. Farsiar claimed that leadership teams with different perspectives perform better than those without. Farnoush Farsiar "So it's not just important that women are included in these positions; it's also critical for the country as a whole."

There are a myriad of theories to provide the reason women aren't being represented in the financial services industry. One theory is that financial services are male-dominated and competitive for females to be into. Another theory is that women aren't advised to pursue careers in finance, either by their parents or colleagues.

Farsiar believes that women's exposure to socialization from a young time is at the source of the issue. "Women are taught at a young age that they should be risk-takers, not caregivers. "We're taught to play it safe, not to risk our lives. This doesn't make sense for a career as an analyst in finance.

https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 It's not just about being taught how to look after the children. Women are also taught to cherish people. Farsiar claims that women are taught to be courteous and avoid conflict. But in finance, you must be able communicate your ideas. It is important to be able to defend your personal ideas.

Farsiar asks: Where are all the women in finance?
Farnoush Farsiar The absence of women in finance is particularly evident at the highest levels of the industry. Women hold just about only 10% of executive-level positions as per a 2016-2017 study conducted by Pew Research. Only 11.5% of boards of financial firms are headed by women.

This imbalance has real-world implications for women working in finance. This means that women are more likely than males to be promoted, and are more likely to quit the finance sector.

The good news is that women are slowly but surely getting older. Farnoush Farsiar believes the reason for this rise is because of the #womenshould movement, which has increased awareness of the issue of diversity. Farsiar claimed that she was "convinced" that the #MeToo movement also has had a huge impact. Women are speaking out to make a difference.

Obstacles for women to enter the world of finance
Many barriers prevent women being able to enter the field of finance. One of the main obstacles is the lack of role models. Women in finance are typically the only ones in their respective departments, which could result in isolation.

Farsiar said that being the sole woman in a room can be quite daunting. "You feel like you're expected to be perfect all of the time, and that you mustn't make any mistakes."

Another barrier is the "old guys"club" mentality that is prevalent in many finance companies. This is the belief that men promote other men and women are not promoted.

Farnoush Farsiar Farsiar acknowledges that there is an element of truth to this assertion. "I experienced it myself. Men will promote other men even when women are more skilled."

The old boys' club mentality can also lead to sexual discrimination or harassment. Women in finance are frequently subject to unwelcome advances and humiliating remarks from male counterparts.

"It's certainly a problem," Farnoush Farsiar exclaims. "Women in the field of finance are frequently considered objects and it's very hard to make it in the financial world when you're being treated this way."

The last issue is the absence of flexible work schedules. https://www.businessfast.co.uk/farnoush-farsiar-explains-why-queen-elizabeth-is-an-excellent-example-of-female-leadership/ Women are more likely than men to be entrusted with household responsibilities, like caring for elderly or children parents. This means they need flexible work arrangements that allow them to balance their personal and professional lives.

"Finance is a very stressful profession, and it's not easy to manage the demands of your job when you're also juggling other obligations. Farnoush Farsiar Women often find themselves being forced to choose between work and family.

These barriers make it very difficult for women to get into the financial sector and achieve high-level posts. There are a variety of initiatives that aim to change this.

Farnoush Farsiar believes the Future is bright for women in Finance.
There are plenty of positive reasons to believe in the future of women in the field of finance. Farnoush Farsiar There have been numerous initiatives launched to boost their numbers and reach the highest levels of the financial sector.

https://www.anochords.org/farnoush-farsiar-why-are-so-few-women-in-finance/ One of these initiatives, Women Entrepreneurs Finance Initiative is a collaboration with the World Bank Group with 14 governments. We-Fi finances and supports women-led business in developing countries.

Farsiar said, "This is an excellent initiative as it provides women with access to the resources they need to assist them in starting and expanding their business." It also assists them in create networks and connect with other women who are successful.

The Women in Finance Charter was another initiative the U.K. government launched in the year 2016. The Women in Finance Charter aims to encourage gender diversity by financial institutions.

Farsiar believes that the Women in Finance Charter represents significant progress. It encourages financial institutions as well as other companies to tackle gender diversity.

With initiatives like We-Fi and the Women in Finance Charter, more women get to enter and take on senior roles. This is good news for both the financial and female sectors.



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