Notes

Farnoush Farsiar: Why are the women in finance so infrequent?
Women are breaking through barriers and achieving great success in different industries. However, the sad truth is that the majority of women are employed in finance. This isn't likely to change, unfortunately.

Deloitte Web Insights indicates that just 31 percent of the financial sector's workers will be women by 2030. This begs the obvious question: Why are there so few women in finance. There are a variety of theories. We wanted to hear more from an expert. This is why we spoke with Farnoush Farsiar an accomplished finance professional who is passionate about women empowerment.

How many women work in Finance?

The U.S. has 57% female workforce however only 24% jobs in the financial sector. The number is projected to increase to 28% over the next 10 years from 24% by 2021. But, they're far below parity.

Diverseness isn't only a problem faced by women. Farnoush Farsiar stated that diversity is an issue for economic growth. Farsiar stated that diverse leadership teams are more effective than ones with fewer viewpoints. It's crucial that women be represented in these areas. It's also vital for the nation.

There are a myriad of theories as to how women working in the finance industry are underrepresented. The most popular theory is that finance is male-dominated and competitive for females to get into. Farnoush Farsiar Another theory is that financial careers are viewed as a deterrent from women by their peers or parents.

Farsiar believes the root of the issue lies in how women are socialized from a young age. Women are taught to take care of their children and take responsibility for their safety. "We are taught to play safe and to not take chances. This doesn't work for being a successful career financially.

It's not just about being taught to care for the children. Women also learn to cherish people. Farsiar states that women are taught to be courteous, avoid conflicts and keep their differences under control. "But in finance, you need to be able to stand up for yourself. Farnoush Farsiar You must be able advocate for your thoughts.

Farnoush Farsiar Farsiar What are the fate of all the Finance Women?
Particularly at the highest levels of finance there is a dearth of women in the finance industry is alarming. According to a study conducted by Pew Researchers only 10% of finance jobs are held by women in senior executive positions. And they hold just 11.5 percent of the board seats at financial firms.

This inequality has a direct impact on women working as finance professionals. This is why women are less likely than men to be promoted, and are more likely to quit the finance sector.

It's great to know that there's increasing numbers of women working in senior roles. Farnoush Farsiar believes this partly due to the #womenshould campaign which has brought awareness to the lack of diversity. http://www.koyomi.vis.ne.jp/wiki/index.php?farnoush.farsiar1gaacc11 Farsiar states that she believes that the #MeToo campaign had an extraordinary impact. Women are now more vocal and demanding change.

The obstacles for women who want to pursue finance
Many barriers prevent women getting into finance. One of the biggest issues is the lack of role models. This can make it difficult for women working in finance to be the sole female in their respective departments.

Farsiar stated that it can be difficult to be the sole female present in the room. "You are conditioned to be flawless all the time, and that you shouldn't be able to make any mistakes."

Another barrier is the "old guys' club" mentality in many financial firms. This is the belief that men are the ones who promote men while women are not promoted.

Farsiar acknowledges "There's lots of truth to that." "I've observed it in person. Women will always be promoted by men even when they're more experienced.

This old boys' club mentality can lead to sexual harassment and discrimination. Female finance professionals are frequently subjected ostracizing comments and unwanted advances by male colleagues.

Farnoush Farsiar exclaims that "it's definitely an issue." "Women working in finance are typically treated like objects. It's difficult to make progress when you're treated this way."

Lack of flexibility in working hours is another issue. It is more typical for women to take on family responsibilities such as caring of parents who are elderly or children. Women need flexible work schedules to be able to manage work and family.

"Finance is a very demanding profession, and it's not easy to keep up with the demands when you have other responsibilities. Women frequently have to pick between their career or family, as well as their career.

This makes obtaining senior post in the financial service industry extremely difficult for females. There are a myriad of initiatives to address this issue.

Farnoush Farsiar Thinks There's a bright future for women in Finance
There are plenty of reasons to believe that women will continue to be employed in the field of financial services. Many initiatives are working to increase the number of women working in the financial industry and to assist them in achieving senior positions.

One of these initiatives is the Women Entrepreneurs Finance Initiative (WeFi), which is a collaboration between the World Bank Group & 14 governments. We-Fi provides financial assistance and financing for women-led businesses in developing countries.

Farsiar said, "This program is a excellent one as it provides women access and the resources to begin and expand their companies." Farnoush Farsiar "It can also help build 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 of 2016. The Women in Finance Charter encourages gender diversity.

Farsiar lauds "The Women in Finance Charter as a great step forward." "It's encouraging financial firms to be proactive about gender diversity and is making a difference."

Women in Finance Charter and We-Fi are helping more women reach high-ranking positions. This is a great thing for women and the financial sector.



My Website: https://www.crunchbase.com/person/farnoush-farsiar