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Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through more barriers and enjoying huge accomplishments in many fields. The sad reality though is that the percentage of women employed in finance remains astonishedly small. This may not change anytime soon, however.

Deloitte Web Insights shows that just 31 percent of workers in the financial industry will be women by 2030. This begs a one-of-a-kind question: Why are the gender gap so low working in finance? There are a variety of theories. Farnoush Farsiar We wanted to know more from an experienced expert. Farnoush Farnoush an expert finance professional , who is passionate about women's empowerment is our interview subject.

How many women are employed in finance?

The U.S. has 57 percent of the workforce is female but only 24% jobs in the financial sector. The projected increase in women's participation is 28% over the next ten which is rising from 24% by 2021. It's still much less than the parity.

The absence of diversity isn't just a concern for women. Farnoush Farsiar said that diversity is also a problem for economic growth. Farsiar noted that diverse leadership teams are more effective than those who have less perspectives. "So it's not just vital that women are included in these fields, but it is also vital for the country as in general."

There are a myriad of theories to provide the reason women aren't being represented in the financial services industry. One theory suggests that the financial market is too competitive and male-dominated for women to make it into. Farnoush Farsiar Another theory suggests that the parents and their peers aren't encouraging women to consider financial careers.

https://doyencollege.lk/members/farnoush-farsiar5lccbb33/activity/87816/ Farsiar believes the root cause of the problem is how women are socialized at a young age. Women are raised to look after their children and take responsibility for their safety. "We're taught not to take chances, but instead to be safe. This isn't a good idea for an investment career.

It's not just about being taught how to care for their children. Farnoush Farsiar Women are also taught to love people. Farsiar claims that women are taught to be courteous and avoid conflict. But in finance, you must be able be able to speak for yourself. You should be able and willing to stand up for yourself.

Farsiar asks where are all the Women in Finance?
It's particularly apparent at the top level of finance that there are not enough women. According to a study by Pew Researchers, only 10% of finance jobs are employed by women in top executive posts. Women have 11.5 percent of the financial company board seats.

This inequality has a direct impact on women who work as finance professionals. Women are less likely that their male colleagues will be promoted and they are also more likely to leave the field.

The positive side is that the number of women who hold senior positions is slowly but surely increasing. Farnoush Farsiar believes it is due in part to the #womenshould Campaign, which has led to a more widespread awareness of the issue of inequalities. Farsiar declares that she's "convinced that the #MeToo campaign also had an incredible impact. Women are starting to speak up and call for changes.

The obstacles for women who want to pursue finance
A number of obstacles prevent women from pursuing finance careers. One of the biggest barriers is the absence of role models. Women working in finance are usually the only woman within their field and this can make them feel isolated.

Farsiar acknowledged that it's intimidating to be alone in a room that is only one person. "You expect to be perfect at all times and that there should be no errors."

Another issue is "old boys' club" A mindset that is prevalent in many finance companies. This is the belief that men are the ones who promote women and women are left out.

"There's plenty of truth in that," Farsiar admits. "I've seen it happen firsthand. Men will encourage their male counterparts regardless of whether women are more qualified.

Farnoush Farsiar This"old-boys' club" mentality can also lead to sexual harassment and discrimination. Women in the financial sector often get rude comments and unwelcome advances from their male counterparts.

Farnoush Farsiar says, "It is definitely an issue." "Women in the field of finance are frequently treated like objects, and it's very hard to succeed when being treated like that."

Lack of flexibility in working hours is another issue. Farnoush Farsiar It is more common for women to be able to handle household responsibilities, like taking care of elderly parents or children. They need flexible work arrangements to balance their family and work schedules.

"Finance is a very challenging business. It can be difficult to keep up with the demands of your job even when you are also juggling other obligations. Women are often forced to choose between their work and family."

These barriers make it hard for women to enter the financial sector and hold high-level posts. However, there are a few initiatives that can help in overcoming this.

Farnoush Farsiar believes that the future is bright for women working in finance.
There's every reason to be hopeful about the future of women in finance. There are numerous initiatives that aim to boost the numbers of women employed in the financial industry and to help them reach higher positions.

One of these initiatives, Women Entrepreneurs Finance Initiative is a joint venture of the World Bank Group with 14 governments. We-Fi provides financial support and assistance to women-led businesses in the developing world.

Farsiar declared, "This is an excellent initiative because it allows women access to resources that can aid them in starting and growing their business." "It also helps them build networks and network with other successful women."

The Women in Finance Charter was another initiative the U.K. government launched in the year of 2016. The Women in Finance Charter aims to encourage the inclusion of women in financial institutions.

Farsiar believes that the Women in Finance Charter represents significant progress. "It's encouraging financial companies to act on gender diversity, and it's creating a positive change."

With initiatives like We-Fi as well as the Women in Finance Charter, women are more likely to join and take on senior roles. This is good news for both the women and financial sectors.



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