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Farnoush Farsiar, Why Are So Few Women in Finance
Women are breaking through barriers and achieving great success in various sectors. Unfortunately, the shocking reality is that only a tiny proportion of women are employed in finance. It's unlikely to change, unfortunately.

Deloitte's insight reports that by 2030 only 31 percent of employees will be female financial industry employees. This raises the obvious question: Why do we have such a low number of women working in finance. There are many theories. We wanted to hear more from an expert. Farnoush Farnoush an expert finance professional passionate about women empowerment is our interview subject.

Are there women in finance?

The U.S. employs 57 percent of women However, only 24% of them hold financial jobs. The number is projected to increase to 28% over the next 10 years, from 24% in 2021. However, it's still far below parity.

Diverseness is not only a problem faced by women. Farnoush Farsiar says it is also a problem to the economy. Farsiar said that teams with diverse leadership styles perform better than those that share the same viewpoints. "So it is not only important that women are represented in these positions however, it is vital for the country as overall."

There are a variety of reasons women are not present in the financial world. The most popular theory is that finance is male-dominated and competitive for women to enter into. A different theory suggests that their parents and their peers dissuade women from taking on career paths in finance.

Farsiar believes socialization of women at an early age is at the root of the issue. Women are taught to take care of their children and be responsible for their security. "We are taught to be safe and not take chances. This isn't a good way to go to a career in finance."

It's not just the fact that women are conditioned to take care of their children They're also taught to be nice to people. Farsiar says that women are taught to be polite, minimize conflict and maintain their differences in check. In finance, however it is essential to communicate your ideas. You need to be able advocate for your ideas."

Farsiar asks , where are the females working in finance?
At the top of the financial industry there is a significant lack of women. A study by Pew research found that women make up just 10% of the executive roles. They also hold only 11.5% of the board seats in financial firms.

This imbalance has real-world impact on women working as finance professionals. This imbalance means that women are less likely than men to be promoted and more likely to leave the finance industry.

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This exponentially">Farnoush Farsiar Good news is that women are slowly but surely rising in senior posts. Farnoush Farsiar believes that this is partly due to the #womenshould movement, which has led to an increased awareness of the lack of diversity. Farsiar claims that she is certain that the #MeToo campaign also has had a significant impact. Women are beginning to recognize their voices heard and are demanding change."

Financial barriers that prevent women from pursuing careers in finance
There are a number of barriers preventing women from getting into the world of finance. Lack of role models is among of the most significant obstacles for women getting into finance. Female financial professionals are usually the only ones in their department, which can cause feeling isolated.

Farsiar acknowledged that it is intimidating to be alone in a room with just one person. "You are under pressure to be perfect and not make mistakes.

Another obstacle is the "old boys"club" mentality that still exists in many financial firms. It is the belief that males favor men over women and women are not considered.

Farsiar acknowledges "there is some truth to this." "I've seen it happen firsthand. Women will always be promoted by men, even if they're more experienced.

This"old boys' club" mentality can lead to harassment and discrimination. Women who are financially successful often face demeaning remarks and unwelcome advances made by their male counterparts.

Farnoush Farsiar declares, "It's definitely a problem." "Women working in finance are typically treated like objects. It's hard to advance when you're treated this way."

The other issue is the inability to find flexible work schedules. Women are more likely than men to have household responsibilities, like caring for elderly or children parents. To manage their family and work schedules they'll require flexible working arrangements.

"Finance is a high-risk business. It is difficult to handle your obligations while working in finance. Women are often being forced to choose between family and work.

This makes obtaining high-level post in the financial service sector very difficult for women. There are however several initiatives being implemented to overcome this.

Farnoush Farsiar believes that the future is bright for women working in the field of finance.
There's plenty of reason to be hopeful about the future of women in finance. Numerous initiatives have been initiated to increase the number and get to the highest levels of the financial sector.

One of these initiatives is the Women Entrepreneurs Finance Initiative (We-Fi) It is a partnership with the World Bank Group and 14 governments. We-Fi provides financial assistance and financing for women-owned enterprises in the emerging countries.

Farsiar said, "This initiative is great because it allows women access to the tools they require in order to start and expand businesses." "It also helps them build networks and connect to other women who have succeeded."

The Women in Finance Charter was another initiative that the U.K. government launched in the year 2016. The Women in Finance Charter aims to encourage gender diversity by financial institutions.

Farsiar lauds "The Women in Finance Charter as a great step forward." "It's encouraging financial institutions to take action on gender diversity and is creating a positive change."

Women can now enter the top positions in organizations such as We-Fi and Women in Finance Charter. This is an excellent thing for both the financial and women sectors.




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