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Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking down more barriers and enjoying huge success in various fields. However, the sad fact is that the number of women in finance is still shockingly low. Sadly still, it may not see a significant change in the near future.

Deloitte insights states that by 2030 only 31 percent of the workforce will be female financial industry employees. It raises the question: why are there a lack of women in finance? Although there are many theories as to why this is the case, we wanted to hear from someone who has worked in finance for a while. Farnoush Farnoush an expert finance professional passionate about women empowerment is our interview subject.

What proportion of women are working in finance?

The U.S. has 57 percent females in the workforce but only 24% of financial jobs. The number is projected to increase to 28% within the next 10 years, from 24% by 2021. https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ However, this is far below parity.

It's not only a problem faced by women. Farnoush Farsiar claims it's also a threat to the economy. Farsiar claimed that teams that have different leadership styles are more successful than those that have the same perspectives. "So it's not only crucial for women to be involved in these fields; it's also critical for the country overall."

Farnoush Farsiar There are a myriad of theories on the reasons women aren't represented in the financial sector. One theory suggests that the industry of finance is too male-dominated, competitive and difficult for women to join. Farnoush Farsiar Another theory is that mothers and colleagues discourage women from pursuing finance careers.

Farsiar believes the root of the problem lies in the way women are raised from an early age. "Women are taught from an early age to become take care of others, not risk takers. "We are taught to stay safe and not to take risks. That's not a great way to lead to a career in finance."

It's not just that women are socialized to be caretakers They're also taught to be nice to people. "Women are indoctrinated to be polite and minimize conflict," Farsiar adds. "But in the world of finance you must be capable of standing up for yourself. You must be able to to advocate for your ideas.

Farsiar: Where are all the finance women?
The dearth of women working in finance is especially pronounced at the top levels of the business. According to a 2016-17 study conducted by Pew. They also hold only 11.5 percent of the seats on the boards of financial firms.

This inequality has a direct impact on women working as financial professionals. Women are less likely to be employed in finance to get promoted than male counterparts.

The best part is that that the rise in women who hold senior positions is slow but steady. Farnoush Farsiar believes it is due in part to the #womenshould campaign, which has created a greater awareness of the problem of lack of diversity. Farsiar claimed that she is "convinced" that the #MeToo Movement was a major influence. Women are beginning to recognize their voices heard and are demanding change."

Women are unable to access financial aid because of their gender. from taking up finance careers
A variety of obstacles hinder women from getting into finance. The lack of role models is just one of the biggest hurdles. Women in finance are often the only women working in their field, which can prove to be lonely.

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

Another issue is another one is the "old guys"club" mentality that is prevalent in many finance companies. This is the idea that men are superior to women, and that men should be promoting each other.

Farsiar acknowledges "There's a lot truth to that." Farnoush Farsiar "I've witnessed it firsthand. Men will promote men even when they're more competent.

This old boys club mentality can result in sexual harassment or discrimination. Women in the financial sector often get insulting remarks and unwelcome advances made by their male counterparts.

Farnoush Farsiar exclaims that "it's certain that there is a problem." "Women working in finance are usually treated as commodities, which makes it very difficult for them to achieve success."

The last issue is the absence of flexible work schedules. Women are more likely than men to have household responsibilities, like caring for elderly or children parents. This means that they require flexible work schedules to manage their personal and professional lives.

"Finance is a complicated field, can be difficult to manage when you have many other obligations. Women are often being forced to choose between work and family.

These obstacles make getting high-level post in the financial service industry very difficult for females. There are however a few initiatives that can help make a difference.

Farnoush Farsiar believes the Future is bright for women in Finance
There are many reasons to feel hopeful about the future of women in finance. Several initiatives are in place to boost the number of women in the finance sector and assist them in achieving senior positions.

One such initiative, Women Entrepreneurs Finance Initiative is a joint venture with the World Bank Group with 14 governments. https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/ We-Fi provides financing and support to women-led businesses in emerging countries.

"This is a fantastic initiative because it gives women access to the tools they need to start and grow their companies," Farsiar said. "It will also assist women in building networks and connect with other women who are successful."

The Women in Finance Charter was another initiative that the U.K. government launched in the year of 2016. Financial firms have committed to gender diversity through the Women in Finance Charter.

Farsiar says that "The Women in Finance Charter" is a huge step in the right direction. "It is encouraging financial institutions to take action in the direction of gender diversity, and it is creating a positive change."

Farnoush Farsiar Women in Finance Charter and We-Fi are helping more women achieve high-level post. This is a great thing for women and the financial industry.



Homepage: https://www.privatebankerinternational.com/author/farnoushfarsiar/