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Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are breaking down more barriers and enjoying huge successes in a variety of fields. The sad reality is that only a tiny percent of women work in finance. Unfortunately, this may not be changing anytime soon.

Deloitte insight estimates that 31% of the financial industry employees will be women by 2030. This begs the question how come there isn't a lot of women working in financial services? There are several theories, we decided to get the opinion of an expert. Farnoush Farnoush an accomplished finance professional who is passionately committed to women's empowerment was the main reason we spoke to her.

How many women are involved in finance?

The U.S. has 57% female workforce however, there are just 24% of financial jobs. Farnoush Farsiar This is expected to increase to 28% over the next 10 years, up from 24% in 2021 - but still far short of parity..

The absence of diversity isn't only a problem for women. Farnoush Farsiar has said that it's also a problem in the world of business. Farsiar explained that teams with diverse leadership styles perform better than those with the same range of viewpoints. "So it's not only crucial for females to be represented in these professions; it's also critical for the nation overall."

There are a myriad of theories as to why women in the financial industry are underrepresented. One theory is that the financial sector is too masculine and competitive to permit women to enter the field. Another theory is that women aren't encouraged by their parents to pursue careers in finance.

Farnoush Farsiar Farsiar believes the root issue lies in the manner in which women are socialized at a young age. Women are taught to look after their children and take responsibility for their security. "We are taught to stay cautious and not to take risks. This isn't the best approach to pursue a career in finance.

It's not just about being taught to look after their children. Women are also taught to be kind to people. Farsiar says that women are taught to be polite and avoid conflict. "But when it comes to finance, you must be able to advocate for your thoughts. It is essential to be able support your own thoughts.

Farnoush Farsiar Farsiar asks where are the females who work in finance?
Particularly at the top of the finance industry and in the top positions of finance, the absence of women working in finance is alarming. A study conducted by Pew research found that women make up just 10% of executive positions. Women have 11.5 percent of the financial company board seats.

This inequality has real-world effects on women working in finance. They are more likely to be promoted than their male colleagues are promoted, and are more likely leave the industry.

The good news? Women are slowly but surely getting older. Farnoush Farsiar believes the reason for this rise is due to the #womenshould movement which has raised awareness about the lack of diversity. Farnoush Farsiar Farsiar believes that the #MeToo campaign has had an incredible influence on her life. Women are starting to hear their voice and demand change."

Obstacles for women to enter the world of finance
There are numerous obstacles that hinder women from entering finance. One of the biggest barriers is the absence of role models. Finance women often are the only women working in their industry and can be lonely.

Farsiar admitted that it's nerve-wracking to be the only female present in the room. "It feels like you have to be flawless every single day and you should not commit any mistakes."

Another issue is "old boys"club", a mentality that prevails in a lot of finance companies. This is a reference to the idea that men promote other women while women are not.

Farsiar acknowledges "there is plenty of truth in this." "I've seen it happen firsthand. Men will be able to promote men regardless of whether the woman is more qualified."

This"old-boys' club" mentality can also result in discrimination and sexual harassment. Females in the finance industry are often subjected to demeaning comments and unwelcome advances by their male colleagues.

Farnoush Farsiar declares, "It's certain that there is an issue." "Women who work in finance are usually treated like objects. It's not easy to make it big when you treat women that in that way."

The last issue is the lack of flexible working arrangements. Women are more likely to have family responsibilities like caring for elderly parents and children. To balance their home and professional lives it is necessary to have flexible working arrangements.

"Finance is a very complex industry, is hard to handle when you have additional responsibilities. Women are often required to choose between their work and their family."

This makes obtaining senior posts in the financial services industry extremely difficult for females. Farnoush Farsiar However, there are many initiatives that are working to change this.

Farnoush Farsiar believes that the future is bright for women in finance.
There are good reasons to believe that women will continue to work in the field of financial services. There have been numerous initiatives launched to boost their numbers and get to the top of the industry.

One example of such an initiative is Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments and the World Bank Group. We-Fi provides financing and assistance for women-owned enterprises in the developing countries.

Farsiar said, "This initiative is great because it provides women with access to the resources they need to begin and expand their businesses." "It also helps women build networks and network with other women who are successful."

Another initiative is The Women in Finance Charter. It was announced by the U.K. government in 2016. The Women in Finance Charter is designed to promote gender diversity in financial institutions.

Farsiar hails "The Women in Finance Charter as a significant step in the right direction." It encourages financial firms and other businesses to consider gender diversity.

Women are more likely to get promoted and get the chance to hold senior financial positions due to initiatives such as We-Fi. This is a good thing for women and the financial sector.



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