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Farnoush Farsiar - Why are there so few women working in finance?
Women are breaking through barriers and achieving great successes in a variety of industries. However, the sad truth is that only a few women work in finance. It's likely that this trend won't change anytime soon.

Deloitte's insights estimates that 31% of financial industry employees will be female by 2030. It begs the question "Why do women have a hard time working in financial services?" There are a variety of theories. We wanted to know more from an expert. Farnoush Farnoush is a highly skilled finance professional , who is passionate about women's empowerment, was our interview subject.

How many women are employed in finance?

The U.S. employs 57% women However, only 24% have financial positions. It is expected that this figure will increase to 28% over the next 10 years, compared to 24 percent in 2021. Farnoush Farsiar However, they are far short of parity.

Diverseness isn't just an issue for women. Farnoush Farsiar said that diversity is an issue for economic growth. Farsiar said that teams with diverse leadership styles perform better than those that have the same viewpoints. "So it's not just important that women are represented in these professions and it's equally important for the nation as a whole."

https://rekvizitai.vz.lt/en/company/lionsgate_procurement_services/farnoush_farsiar_direktore/ There are a variety of reasons women are not present in the financial world. One theory is that the financial industry is very male-dominated, competitive and challenging for women to join. Another theory suggests that careers in finance are discouraged for women by peers or parents.

Farsiar believes that women's exposure to socialization from a young time is at the source of the issue. "Women are taught at a young age that they should be risk-takers rather than caretakers. "We're taught not to make chances, but instead to play it safe. And that's just not conducive to a successful career in finance."

It's more than just being taught how to look after 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. In finance, however it is essential to speak for yourself. You need to be able to advocate for your thoughts.

Farsiar Asks Where are all the women in finance?
At the top of the financial industry there is a significant lack of women. According to a survey conducted in 2016 and 2017 conducted by Pew, women hold only 10% of the executive-level posts. Just 11.5% of boards of financial firms are headed by women.

This has real-world implications for women working in finance. Women are less likely that their male colleagues are promoted, and they are also more likely to leave the field.

The positive side is that the number of women working in senior positions is slowly but surely increasing. Farnoush Farsiar believes it is due in part to the #womenshould campaign, which has created a greater awareness of the issue of inequalities. Farsiar stated that she was "convinced" that the #MeToo Movement was a major influence. Women are now beginning to defend their rights and demanding changes.

Women's financial access is a challenge for women.
There are many obstacles that prevent women from entering the financial world. One of the most significant barriers is the absence of role models. Finance professionals are typically the only women in their department and can lead to isolation.

"It can be very intimidating to be the sole woman in the room," Farsiar said. "You feel that you have to be flawless every time and you can't be a fool."

Another obstacle is the traditional boys' club mentality, that persists in a lot of financial institutions. This is the belief that men promote other women while women are not.

"There's a lot of truth to that," Farsiar admits. "I have witnessed it personally. Men will be promoted by men, even if they are more qualified.

This old boys' club mentality can result in the harassment of women and discrimination. Women who are financially successful often face demeaning remarks and unwelcome advances made by their male colleagues.

"It's certain that it's a problem," Farnoush Farsiar exclaims. "Women in Finance are usually considered to be objects. It's hard to make progress when you're treated in this manner."

Last but not least lastly, there's the issue of flexible working arrangement. Family responsibilities are more common for women than for males. These women need flexible working arrangements in order to balance work and family.

"Finance is a very demanding industry, and it's hard to keep up with the demands when you're also juggling other obligations. Women are often forced to make a choice between their job or family, as well as their careers.

This makes obtaining top positions in the financial services industry very difficult for females. Farnoush Farsiar There are however several initiatives being implemented to change this.

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

One of these initiatives is Women Entrepreneurs Finance Initiative (WeFi) that is a collaboration between the World Bank Group & 14 governments. We-Fi provides financial support and assistance to women-owned companies in the developing world.

Farsiar declared that this is an excellent initiative because it provides women with the tools needed to grow and start their own business. https://www.privatebankerinternational.com/author/farnoushfarsiar/ It also assists them in create networks and connect with other women who are successful.

The Women in Finance Charter was another initiative that the U.K. government launched in the year of 2016. The Women in Finance Charter represents a commitment made by financial firms to encourage gender diversity.

Farsiar lauds "The Women in Finance Charter as a great step forward." "It encourages financial firms to adopt actions regarding gender diversity. It's making progress."

Women are now able to take on the top positions in organizations like We-Fi and Women in Finance Charter. This is good news for both females and the financial sector.



Here's my website: https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/