Notes

Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are increasingly breaking down barriers and are finding success in different industries. Unfortunately, the shocking reality is that only a tiny percentage of women work in finance. https://www.pcb.its.dot.gov/PageRedirect.aspx?redirectedurl=https://suite.endole.co.uk/insight/people/23756008-ms-farnoush-farsiar It's not likely to change, unfortunately.

http://hawkee.com/profile/1673950/ Deloitte's insights states that by 2030 only 31 percent of employees will be female employees in the financial sector. This begs the obvious question: Why do we have such a low number of women working in finance. While there are numerous theories, we decided to hear the opinions from an expert. https://lexsrv3.nlm.nih.gov/fdse/search/search.pl?match=0&realm=all&terms=https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ This is why we spoke with Farnoush Farsiar, an accomplished financial professional who is passionate about women's empowerment.

What proportion of women are working in finance?

In the U.S., women make up 57% of the workforce, but they hold just 24 percent of financial jobs. This is expected to rise to 28% within the next 10 years, from 24% by 2021. But, they're well below the average.

This isn't a problem that is only affecting women. It's also a challenge in the business world, said Farnoush Farsiar. Farsiar pointed out that leadership teams with diverse perspectives have better results than teams that have fewer perspectives. It is crucial for women to be included in these fields. But it's also crucial for the nation.

There are many theories as to why women are underrepresented in the financial sector. The most popular hypothesis is that the financial industry is too male-dominated and competitive for women to enter. Another theory says that peers and parents do not encourage women to pursue finance careers.

Farsiar believes women's socialization from an early age is the source of the issue. Women are raised to look after their children and take responsibility for their security. "We are taught to stay safe and not to take risks. This isn't conducive to a career financial.

Women are taught socially to care for others. "Women are indoctrinated to be courteous and reduce conflict," Farsiar adds. "But in the world of finance it is crucial to be able and willing to speak up for yourself. You must be able to and willing to advocate for yourself.

Farsiar asks where are all the women who work in finance?
It's especially evident at the highest levels of finance that there are not enough females. https://historyhub.history.gov/external-link.jspa?url=https://www.difc.ae/public-register/rumi-investment-limited/ A study by Pew research found that women comprise just 10% of the executive roles. Women also hold only 11.5 percent of the board seats in financial firms.

This could have real-world consequences for women working in finance. They are more likely than their male colleagues are promoted, and they're also more likely to leave the field.

The good news? Women are slowly, but surely becoming older. Farnoush Farsiar believes the reason for this growth is due to the #womenshould campaign, which has increased awareness of the issue of diversity. Farsiar said that she is "convinced" that the #MeToo Movement also has had a huge impact. Women are speaking out more and calling for changes.

The financial barriers that stop women from pursuing careers in finance
There are many obstacles which prevent women from pursuing careers in the world of finance. A lack of role models is one significant obstacle. This can make it hard for women in finance to be the only female in their respective departments.

Farsiar said that it can be daunting to be the only female present in the room. "It is like you are expected to be perfect all the time and you shouldn't make any mistakes."

Another issue is another one is the "old boys"club" mentality that is still prevalent in a lot of finance companies. This is the belief that men are superior to women and that they should encourage one another.

"There's lots of truth to that," Farsiar admits. "I've seen it happen myself. Men will be arousing to other men even if the woman is better qualified.

This"old boys' club" mentality can also result in discrimination and sexual harassment. Female finance professionals are frequently confronted with ostracizing remarks and unwelcome advances by male colleagues.

Farnoush Farsiar "It's certainly a problem," Farnoush Farsiar exclaims. "Women who work in finance are usually treated just like objects. It's difficult to get noticed when women are treated that way."

https://setiweb.ssl.berkeley.edu/beta/show_user.php?userid=10092538 The final obstacle is the absence of flexible working hours. Women are more likely to take on household responsibilities, such as caring for parents who are elderly and children. Flexible working arrangements are necessary to allow them to manage work and family.

"Finance is a complicated field, can be difficult to handle when you have additional responsibilities. Women are often required to make a choice between their careers and family."

This makes it very difficult for women working in the financial industry to reach high-ranking positions. There are however some initiatives that can make a difference.

Farnoush Farsiar is optimistic about the future of women in finance.
There are many reasons to be optimistic regarding the future of the financial sector. Many initiatives have been initiated to increase the number of women employed in finance and to assist women in achieving senior positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one of these initiatives. It's a collaboration between World Bank Group and 14 countries. We-Fi provides financial support and assistance to women-owned companies in developing countries.

Farsiar declared, "This is an excellent initiative since it gives women access to resources that can help them start and grow their businesses." "It can also help them create networks and network with other women who are successful."

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

Farsiar praises "The Women in Finance Charter as a significant step in the right direction." It encourages financial institutions as well as other companies to tackle gender diversity.

Farnoush Farsiar Women are now able to enter senior positions through initiatives such as We-Fi and Women in Finance Charter. This is a good thing for women as well as the financial sector.



Read More: http://pandora.nla.gov.au/external.html?link=https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/