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Farnoush Farsiar - Why are there so few women working in finance?
Women are breaking down barriers and becoming powerful leaders in a variety of sectors. The sad reality though is that the number of women employed in finance remains shockingly low. Unfortunately, this may not be changing anytime soon.

Deloitte's insight states that by 2030 only 31 percent of employees will be female financial sector employees. This raises the issue of why there aren't more women working in finance. Although there are many theories as to why this is, we would like to hear from someone who has worked in finance for a while. Farnoush Farnoush, a highly skilled finance professional passionate about women empowerment, was our interview subject.

What proportion of women are employed in finance?

The U.S. is home to 57 percent of the working population. But the country only has 24% of financial work. The figure is projected to rise to 28% over the next 10-20 years, up from 24% currently.

The absence of diversity isn't just a concern for women. Farnoush Farsiar said that it's a serious issue for the business world. Farsiar claimed that leadership teams that have diverse viewpoints perform better than those without. It is crucial for women to be represented in these areas. It's also vital for the country.

There are many theories about why women are underrepresented in the financial industry. The most popular theory is that the financial sector is too male-dominated and competitive to allow women to enter the field. Another theory is that parents and their peers discourage women from pursuing finance careers.

Farnoush Farsiar Farsiar believes that the root of the problem is how women are socialized at a young age. "Women begin at an early age to be take care of others, not risk takers. "We're taught to be safe and not to take risks. This doesn't work for a career financial.

It's not only that women are conditioned to be caretakers; they're also socialized to be nice to people. Farsiar says that women are taught to be polite and avoid conflict. "But in finance you must be in a position to defend yourself. You need to be able advocate for your own ideas."

Farsiar questions where are all the women employed in finance?
Women are disproportionately underrepresented in finance, particularly at the highest levels. According to a research study from 2016-17 conducted by Pew. Also, they hold just 11.5% of the executive positions in financial companies.

This imbalance has real-world implications for women working in finance. They are more likely not to get promoted than their male counterparts. They're as well more likely to leave the industry altogether.

The good news? Women are slowly but surely getting older. Farnoush Farsiar believes it is because of the #womenshould campaign, which has created a greater awareness of the issue of the lack of diversity. Farsiar says she believes that the #MeToo movement also had a significant impact. Women are beginning to recognize their voice and demand change."

Barriers to Women Getting into the world of finance
There are many obstacles that hinder women from entering finance. Farnoush Farsiar One of the most significant barriers is the lack of role models. Finance women often are the only women working in their area and can be lonely.

Farsiar admitted that it's intimidating to be the only female in the room. Farnoush Farsiar "It feels like you have to be perfect every single day and that you shouldn't make any mistakes."

Another obstacle is another one is the "old boys"club" mindset that persists in many finance firms. Farnoush Farsiar This is the idea which men encourage other women and that they are excluded.

Farsiar admits "There's a lot truth to this." "I've witnessed it firsthand. Women will always be promoted by men regardless of whether they're more experienced.

The old-fashioned mentality can also lead to sexual discrimination or harassment. Financial women often receive demeaning remarks and unwelcome advances by their male colleagues.

"It's certainly a problem," Farnoush Farsiar exclaims. "Women in Finance are often treated like objects. It's tough to get ahead in a world where you're treated like a commodity."

The final obstacle is the lack of flexible working hours. Family obligations are more prevalent for women than men. They require flexible work arrangements that allow them to balance their home and work lives.

"Finance is a highly-risky business. Farnoush Farsiar It can be difficult to balance your work and family obligations when you're also working in finance. Women often have to choose between their careers as well as their family career.

https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times These barriers make it very difficult for women to get into the finance industry and attain senior posts. However, there are a few initiatives that could help to change this.

Farnoush Farsiar believes the Future is bright for women in Finance.
There are numerous reasons to be optimistic about the future of the financial industry. There are numerous initiatives that aim to boost the numbers of women employed in the financial industry and assist them in achieving senior positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one such initiative. It's a partnership between World Bank Group and 14 countries. We-Fi provides financial support and assistance to women-led businesses in the developing world.

"This is a great initiative as it provides women with access to the resources they need to begin and expand their business," Farsiar said. Farnoush Farsiar It helps them create networks and make connections with other women entrepreneurs.

Another initiative is the Women in Finance Charter. The U.K. government launched it in the year 2016. The Women in Finance Charter represents a commitment made by financial companies to promote gender diversity.

Farsiar believes that the Women in Finance Charter represents a significant step forward. Farnoush Farsiar "It will encourage financial institutions to act in the direction of gender diversity, and is creating a positive change."

Women can now enter high-level positions thanks to initiatives such as We-Fi as well as Women in Finance Charter. This is great news for both the financial and women sectors.



Website: https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/