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Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are increasingly breaking through barriers and enjoying amazing success in many industries. Unfortunately, the shocking reality is that only a tiny percent of women work in finance. However, this is unlikely to be changing anytime soon.

Deloitte Web Insights indicates that only 31% of financial sector workers will be female by 2030. This raises the question "Why do women have a hard time working in the finance industry?" There are a variety of theories. We wanted to hear from an expert. Farnoush Farnoush an expert financial professional who is passionate about women's empowerment, was our interview subject.

How many women are involved in the field of finance?

In the U.S., women make up 57 percent of the workforce however, they are able to have only 24 percent of financial jobs. This figure is expected to grow to 28% over the next ten to 20 years, up from the current 24.

Diverseness isn't just a problem faced by women. Farnoush Farsiar has said that it's also a major issue in the world of business. Farsiar said that leadership teams with diverse perspectives are more effective than those that have less perspectives. "So it's not only crucial for females to be involved in these fields and it's equally important for the nation as a whole."

There are many theories about why women are underrepresented in the financial sector. One theory is that financial services are masculine and competitive for women to be into. Another theory states that financial careers are viewed as a deterrent from women by their parents or peers.

Farnoush Farsiar Farsiar believes socialization of women in their early years is the cause of the problem. Women are taught to look after their children and take responsibility for their security. "We are taught to be secure and to not risk it all. This doesn't work for an investment career.

Women are taught socially to be caring for one another. Farsiar says that women are taught to be friendly and to avoid conflict. "But, in finance you need to be able to be a voice for your ideas. You need to be able to defend your ideas."

Farsiar: Where are all the Finance Women?
Women are disproportionately underrepresented in finance at the highest levels. Women make up just 10% of executive-level positions, according to a 2016-2017 study conducted by Pew Research. They also hold only 11.5 percent of board seats at financial firms.

This imbalance has real-world impacts on women who work in finance. They are more likely not to get promoted than their male counterparts, and are also more likely to leave the industry completely.

The good news is that women are slowly but surely becoming more senior. Farnoush Farsiar believes the reason for this rise is due to the #womenshould campaign which has raised awareness of the issue of diversity. Farsiar stated that she is "convinced" that the #MeToo Movement also has had a huge impact. Women are now more vocal and calling for changes.

There are obstacles for women being able to enter finance
There are many obstacles that hinder women from advancing into the world of finance. A lack of role models is one of the biggest obstacles to women getting into finance. Female financial professionals are usually the only ones working in their departments, which can result in being isolated.

Farnoush Farsiar Farsiar said that being the sole woman in a room could be very daunting. "You feel you are under pressure to do your best and not make mistakes.

Another barrier is the old men's club mentality, that persists in a lot of financial institutions. This is the belief in that men support other women and that they are excluded.

Farsiar admits "There's a lot truth to that." "I've seen this happening in person. Men are always promoting women regardless of whether they're more experienced.

This old boys club mentality can lead also to sexual harassment or discrimination. Women in finance are frequently confronted with unwelcome advances and demeaning remarks from male colleagues.

"It's certainly a problem," Farnoush Farsiar exclaims. "Women working in finance are usually treated like objects. It's difficult to be successful in a world where women are treated this way."

The final obstacle is the absence of flexible work arrangements. Females are more likely be responsible for family obligations than men, such as caring after elderly parents or their children. To manage their family and work life they'll require flexible work arrangements.

"Finance is a highly-risky business. It is challenging to balance your work and family obligations when you are also working in finance. Women are often forced to make a choice between their career and family.

This makes it very difficult for women in the financial sector to attain higher-level posts. There are several initiatives that aim to change this.

Farnoush Farsiar Believes the Future is Bright for Women in Finance
There are many positive reasons to believe in the future of women in the field of finance. There are a variety of initiatives being implemented to boost women's participation in the financial market and to support them in their pursuit of higher-level positions.

One such initiative is Women Entrepreneurs Finance Initiative (WeFi) that is a partnership of the World Bank Group & 14 governments. Farnoush Farsiar Farnoush Farsiar We-Fi is an initiative to provide financing and support specifically designed for women-led companies in developing economies.

Farsiar explained, "This initiative is great because it allows women access to the tools they require in order to start and expand their businesses." "It also helps women build networks and network with other women who have succeeded."

Another initiative is the Women in Finance Charter. The initiative was initiated by the U.K. government in 2016. The Women in Finance Charter represents a commitment made by financial firms to encourage gender diversity.

Farsiar says the Women in Finance Charter "is an incredible leap forward." "It will encourage financial institutions to take action on gender diversification, and is already creating a positive change."

Women in Finance Charter and We-Fi have helped more women reach high-ranking post. This is good news for both women and the financial sector.



Read More: https://www.difc.ae/public-register/rumi-investment-limited/