Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking through walls and finding great results in various industries. https://suite.endole.co.uk/insight/people/25691618-farnoush-farsiar-aidi It is a sad fact, however, that women still make up a small percentage of financial professionals. This isn't likely to change, unfortunately.

Deloitte Web Insights shows that just 31 percent of the financial sector's workers will be female by 2030. The question is: why are so few women in financial services? Although there are many theories as to the reasons for this however, we would like to hear from someone who's worked in finance for a while. Farnoush Farnoush was interviewed by us. She is an experienced finance professional who has a passion about women's empowerment.

How many women work in Finance?

In the U.S., women make up 57 percent of all workers However, they have only 24 percent of the financial positions. This is expected to increase to 28% in the next ten years and up from 24% in 2021 but way below parity..

Diverseness isn't just an issue for women. Farnoush Farsiar believes it's also a problem that affects the economy. Farsiar claimed that teams that have diverse leadership styles perform better than those with the same range of views. "So it's not just important to have women represented in these positions and other positions, but it is essential for the nation as a overall."

There are a myriad of theories as to how women working in the finance industry aren't as well represented. One theory is that the financial industry is very male-dominated, competitive and difficult for women to enter. Another theory is that their parents and peers dissuade women from taking on career paths in finance.

Farsiar believes the root cause of the issue is how women are socialized from an early age. https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 Women are taught to care for their children and take responsibility for their safety. "We're taught to play it safe, not to risk our lives. That's not a great way to lead to a career in finance."

Women are socialized not only to care for other people however, they also have to please people. "Women are taught to be courteous and avoid conflicts," Farsiar adds. "But when it comes to finance, you need to be able to stand up for your thoughts. You need to be able to advocate for your thoughts.

Farsiar asks where are all the female finance professionals?
Particularly at the highest levels of finance there is a dearth of women working in finance is alarming. A study conducted by Pew research found that women comprise just 10% of the executive roles. Just 11.5% of boards at financial companies are held by women.

This disparity has a real-world effect on women working as financial professionals. Women are less likely than their male counterparts will be promoted, and they are also more likely to leave the profession.

The best part is that that the growth of women in the top positions is slow but steady. Farnoush Farsiar believes part of this rise in women's senior positions is due to the #womenshould campaign , which increased awareness of the issue of diversity. Farsiar stated she was "convinced" that the #MeToo Movement was a major influence. Women are starting to hear their voices heard and are demanding change."

Women who pursue finance face obstacles
There are a number of barriers preventing women from getting into the world of finance. One of the biggest obstacles is the lack of role models. Farnoush Farsiar Finance women often are the only female employees in their area and can be lonely.

"It can be very intimidating being the only female in the room" Farsiar said. "It feels like you have to be flawless all the time and you should not commit any mistakes."

Another barrier is the "old guys' club" mindset that exists in a lot of financial firms. This refers to the notion that men promote other women while women are not.

Farsiar acknowledges "there is plenty of truth in that." "I have seen it happen personally. Men will be promoted by men, even if they are more competent.

This"old boys' club" mentality can also result in discrimination and harassment of women. Female professionals in finance are often confronted with ostracizing remarks and unwelcome advances from male colleagues.

Farnoush Farsiar declares, "It's certain that there is an issue." "Women working in finance are typically treated as objects. It's not easy to make it big when women are treated that way."

The last barrier is the difficulty in finding flexible work arrangements. It is commonplace for women to be able to handle the responsibilities of a family, such as taking care of parents who are elderly or children. These women need flexible working arrangements in order to balance work and family.

"Finance is a very demanding sector. Farnoush Farsiar It can be difficult to keep up with the demands of your job when you have other responsibilities. Farnoush Farsiar Women are often forced to make a choice between their careers and their family."

These challenges make it extremely difficult to be a senior financial professional and to enter the field. There are many initiatives that are being implemented to address this.

Farnoush Farsiar believes the Future is bright for women in Finance
There are good reasons to believe that women will continue working in financial services. There are a variety of initiatives being implemented to boost women's participation in the finance market and to support women in their quest for senior roles.

One of these initiatives, Women Entrepreneurs Finance Initiative is a partnership of the World Bank Group with 14 governments. We-Fi helps finance and support women-led business in developing countries.

Farsiar declared, "This is an excellent initiative because it allows women access to resources that can help them start and grow their businesses." It also allows them to build networks and connect to other successful women.

A different initiative is the Women in Finance Charter, that the U.K. government launched in 2016. The Women in Finance Charter is designed to promote the inclusion of women in financial institutions.

"The Women in Finance Charter is a great step forward," Farsiar encourages. "It will encourage financial institutions to act on gender diversification, and is already making a difference."

Initiatives like We-Fi as well as the Women in Finance Charter make it easier for women to move into top posts. This is an excellent thing for both the financial and female sectors.



Website: https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/