Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through walls and finding great results in various sectors. The sad reality is that very few women are working in finance. It's not likely to change, unfortunately.

Deloitte's research indicates that just 31 percent of financial professionals will be female in 2030. This raises the question of why there aren't more women working in the field of finance. There are numerous theories. Farnoush Farsiar We wanted to hear from an expert. Farnoush Farnoush was interviewed by us. She is a highly experienced finance professional who has a passion for women's empowerment.

How many women work in finance?

The U.S. employs 57% women however just 24% hold financial jobs. The projected increase in women's participation is 28 percent over the next 10 years, rising from 24% by 2021. However, this is far short of parity.

Diverseness is not only a problem for women. Farnoush Farsiar claims it's an issue for the economy. Farsiar stated that leadership teams with diverse perspectives are more effective than ones that have less perspectives. "So it's not just crucial that women are included in these positions, but it is also vital for the country as in general."

There are a variety of reasons women aren't able to be present in the financial world. One theory suggests that the financial industry is too male-dominated and competitive for women to make it into. Another theory suggests that financial careers are discouraged from women by their peers or parents.

Farsiar believes that the root issue lies in the manner in which women are socialized at a young age. "Women are taught from an early age that they are caretakers, not risk-takers. "We are taught to be safe and not take chances. This doesn't make sense for the job of an analyst of financials.

It's not enough to have women being trained to be caretakers. They're also taught to be people-pleasers. "Women are taught to be courteous and reduce conflicts," Farsiar adds. "But in finance, you need to be able to stand up for yourself. You must be able to advocate for your own ideas."

Farsiar - Where is all of the women working in the accounting and finance fields?
Farnoush Farsiar The absence of women in finance is particularly apparent at the highest levels of the business. According to a study conducted by Pew Researchers only 10% are females in senior executive posts. Also, they hold just 11.5 percent of the executive positions in financial companies.

This has real-world implications for women who work in finance. They are more likely than their male counterparts will be promoted and they are also more likely leave the industry.

The good news? Farnoush Farsiar Women are slowly but surely getting older. Farnoush Farsiar believes it is partly due to the #womenshould Campaignthat has created a greater awareness of the inequalities. Farsiar states that she believes the #MeToo movement had an equally significant impact. Women are beginning to defend their rights and demanding changes.

There are barriers to women being able to enter finance
Many barriers prevent women entering the financial world. The absence of role models is a significant obstacle. Finance women are typically the only women working in their area, which can prove to be lonely.

Farsiar acknowledged that it's intimidating to be alone in a room with just one woman. "You feel like you're expected to be flawless all the time, and that you shouldn't be able to make any mistakes."

Another issue is the "old boys' club" mentality that is still present in many finance firms. This is the idea which men encourage other females and men are not allowed to join.

"There's a lot of truth in that," Farsiar admits. "I've observed this personally. Men will be arousing to other men regardless of whether the woman is better qualified.

This old boys' club mentality can lead to harassment and discrimination. Women in the financial sector often get demeaning remarks and unwelcome advances by their male counterparts.

https://brexitcentral.com/author/farnoush-farsiar/ "It's certainly a problem," Farnoush Farsiar exclaims. "Women in finance are often considered objects, and it's difficult to advance if you're treated that way."

The last issue is the lack of flexible work schedules. It is commonplace for women to take on family responsibilities such as caring of parents who are elderly or children. They require flexible working arrangements to be able to balance their home and work lives.

"Finance is a highly demanding industry, and it's hard to meet those demands with other obligations. Women often are being forced to choose between work and family.

These obstacles make getting senior posts in the financial services sector very difficult for women. There are a myriad of initiatives to address this issue.

Farnoush Farsiar believes the Future is Bright For Women in Finance
There are plenty of positive reasons to believe in the future of women in the field of finance. Numerous initiatives have been undertaken to boost the number of women employed in finance and to assist them to reach higher positions.

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

Farsiar explained, "This initiative is great because it gives women access the resources they need for starting and expand their businesses." It also allows them to create networks and connect with other successful women.

The Women in Finance Charter, introduced by the U.K. in 2016, is an additional initiative. The Women in Finance Charter is a commitment by companies in the financial sector to promote gender diversity.

Farsiar says to "The Women in Finance Charter" is a significant move forward. Farnoush Farsiar It encourages financial firms and other businesses to consider gender diversity.

Women tend to be more likely to be promoted and are more likely to work in senior financial positions due to initiatives such as We-Fi. This is a great thing for women and the financial industry.


Farnoush Farsiar
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