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Farnoush Farsiar, Why Are So Few Women in Finance
Women are breaking through barriers and achieving huge success across a wide range of fields. However, there are still a few women working in finance. It is unlikely that this trend will be changing anytime soon.

Deloitte Web Insights reports that just 31 percent of the financial sector's workers will be women by 2030. This raises the issue of why there aren't more women working in finance. Although there are many theories as to why this is the case but we would like to hear from someone who's worked in finance for a long time. Farnoush Farnoush is a highly skilled financial professional who is passionate about women's empowerment, was our interview subject.

How many women are involved in the field of finance?

In the U.S., women make up 57% of the workforce However, they hold only 24% of financial jobs. This number is predicted to rise to 28% over the next ten to 20 years, up from 24% currently.

Farnoush Farsiar Diversity isn't just a problem for women. Farnoush Farsiar said that it's also a major issue in the world of business. Farsiar said that teams with diverse leadership styles perform better than teams that have the same perspectives. Farnoush Farsiar It is crucial for women to be represented in these areas. However, it's also essential for the nation.

There are many reasons why women are not present in the financial world. One theory suggests that the financial industry is too male-dominated and competitive for women to enter. Another theory suggests that females are not encouraged by their parents to pursue finance careers.

Farsiar believes that women's socialization at an early age is the source of the issue. "Women are taught from a young age that they must be risk-takers rather than caretakers. "We're taught not to take risky decisions but to play it safe. This isn't a good idea for the field of finance.

Women are socialized to be caring for one another. "Women are indoctrinated to be courteous and avoid conflicts," Farsiar adds. "But in the world of finance it is essential to be capable of standing up for yourself. You need to be able to advocate for your ideas.

Farsiar - Where are all the women in finance and accounting?
The absence of women in finance is particularly apparent at the top of the industry. Women make up just 10% of the executive positions, according to a 2016-2017 study by Pew Research. Women hold 11.5 percent of financial company board seats.

This imbalance has real-world implications for women in finance. They are more likely than their male colleagues will be promoted and they're also more likely to leave the profession.

The best part is that the growth of women in the top positions is slow but steady. Farnoush Farsiar believes part of this rise in women's senior roles is due to the #womenshould movement which increased awareness about the importance of diversity. Farsiar claims that she is certain that the #MeToo campaign produced a profound impact. Women are starting to speak up and demand change.

There are obstacles for women being able to enter finance
There are many obstacles that women face in order to be successful in finance. The lack of role models for women is among of the most significant obstacles for women getting into finance. It is lonely for women working in finance, to be the sole woman in their field.

"It can be really intimidating to be the only woman in the room," Farsiar said. "You are expected to be perfect at all times and that there can't be any mistakes."

Another obstacle is the "old boys club" mentality still common in many financial companies. This refers to the idea that men are the ones who promote men, and women are not promoted.

Farsiar acknowledges "There's plenty of truth in that." https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 "I've observed this personally. Men will promote other men, even if they are better qualified."

The old boys' club mentality can also lead to sexual discrimination or harassment. Female finance professionals are often subjected ostracizing comments and unwanted advances from male colleagues.

"It's certainly a problem," Farnoush Farsiar exclaims. "Women who work in finance are usually treated like objects. It can be difficult to get noticed in a world where women are treated this way."

The last issue is the lack of flexible work arrangements. Farnoush Farsiar It is more common for women to be able to handle household responsibilities, like taking care of elderly parents or children. To be able to balance home and professional lives they'll require flexible work arrangements.

"Finance is a very complex industry, is hard to manage when you are juggling additional responsibilities. Women are often having to make a choice between work and family.

This makes it difficult to become a senior financial professional and get into the business. However, there are several initiatives that are working to change this.

Farnoush Farsiar believes that the future is bright for women working in finance.
There are many reasons to be optimistic about the future for women in finance. Several initiatives are aiming to increase the proportion of women working in the financial industry and to assist them in achieving senior positions.

One example of such an initiative is the Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments as well as the World Bank Group. We-Fi finances and supports women-led business in developing countries.

Farsiar declared that this is an excellent initiative because it provides women with the tools to develop and create their own businesses. "It also helps women build networks and connect with other women who have succeeded."

A different initiative is the Women in Finance Charter. The U.K. government launched it in 2016. The Women in Finance Charter is a pledge made by financial companies to promote gender diversity.

Farsiar lauds "The Women in Finance Charter as a major step forward." Farnoush Farsiar "It will encourage financial institutions to work in the direction of gender diversity, and is creating a positive change."

Women are now able to take on high-level positions thanks to initiatives like We-Fi and Women in Finance Charter. This is a good thing for women and men and the financial sector.



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