Notes

Farnoush Farsiar - Why are there so few women working in finance?
Women are breaking through barriers and are finding results in various sectors. The sad truth is, however, that women still only make up a tiny percentage of finance professionals. This isn't likely to change, unfortunately.

Deloitte's insights estimates that 31% of financial sector employees will be women in 2030. This raises the obvious question: why are there such a low number of women working in finance. There are many theories. We wanted to learn more from an expert. Farnoush Farnoush was interviewed by us. She is a seasoned financial professional who is a passionate advocate for women's empowerment.

Are there any women in finance?

In the U.S., women make up 57% of all workers However, they hold just 24% of financial jobs. This is expected to increase to 28% in the next ten years and up from 24% in 2021 - but still much less than parity..

The absence of diversity isn't only a problem for women. It's also a problem in the business world, according to Farnoush Farsiar. "Diverse leaders have better results than ones that do not offer a broad variety of perspectives," Farsiar said. "So it's essential that women are in these roles. It's also crucial for the country."

There are a myriad of theories on why women are underrepresented in the financial industry. The most popular hypothesis is that the financial industry is dominated by men and competitive for women to make it into. https://notes.io/qtngS Another theory suggests that the parents and their peers don't encourage women to choose career paths in finance.

Farsiar believes that the socialization of women from an early age is the cause of the problem. "Women begin at an early age to become caretakers, not risk-takers. "We are taught to not make a risk, but rather to play it safe. Farnoush Farsiar This isn't the best approach to pursue the field of finance.

Farnoush Farsiar It's not just that women are conditioned to be caregivers They're also taught to be nice to people. Farnoush Farsiar Farsiar says that women are taught to be courteous and avoid conflict. "But in the field of finance it is essential to be able to stand up for yourself. You need to be able advocates for your own ideas.

Farsiar - Where are all the women working in the accounting and finance fields?
Particularly at the top of the finance industry, the lack of women working in finance is alarming. Women hold just about only 10% of the executive positions as per a 2016-2017 study conducted by Pew Research. In addition, they only hold 11.5% of executive positions at financial companies.

This imbalance has real-world consequences for women working in finance. They are more likely not to get promoted than male counterparts, and they're as well more likely to leave the field altogether.

The good news is that the proportion of women working in senior positions is slowly but surely increasing. Farnoush Farsiar believes this partly due to the #womenshould campaign which raised awareness of the absence of diversity. Farsiar believes that #MeToo has had a profound influence on her life. Women are now more vocal and calling for change.

Women who pursue finance face obstacles
There are numerous obstacles that hinder women from advancing into the world of finance. Lack of role models is one of the greatest barriers to women entering finance. Women in finance are typically the only ones working in their respective departments, which could result in isolation.

Farsiar said that being the only woman in a room can be extremely stressful. "You feel as if you're being expected to be perfect all of every moment, and that you shouldn't be able to commit any errors."

Another issue is another issue is the "old boys' club" mindset that's still prevalent in many finance companies. This is the belief that men are better than women and men should promote each other.

Farsiar acknowledges "there is plenty of truth in that." "I've seen it happen firsthand. Men will always promote women, even if they are more experienced.

This"old boys' club" mentality may also lead to discrimination and sexual harassment. Male colleagues in finance frequently make demeaning remarks to women and make inappropriate advances.

"It's certainly a problem," Farnoush Farsiar exclaims. "Women in Finance are often treated as objects. It's difficult to make progress in a world where you're treated like a commodity."

Last but not least lastly, there's the issue of inflexible working arrangements. Women tend to be more likely to have family responsibilities like taking care of elderly parents or children. Women require flexible work arrangements in order to balance work and family.

"Finance is a very stressful business, and it's difficult to manage the demands of your job when you have other responsibilities. Women are often forced to choose between their work or their family.

These barriers make it hard for women to gain entry into the financial industry and to hold senior post. There are a myriad of initiatives to tackle this issue.

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. A number of initiatives are taking place to boost women's participation in the finance market and to support women as they pursue high-level roles.

One such initiative is the Women Entrepreneurs Finance Initiative (WeFi), which is a partnership between the World Bank Group & 14 governments. We-Fi helps finance and support women-led business in developing countries.

Farsiar said, "This is an excellent initiative as it provides women with access to resources that can help them start and grow their business." https://txt.fyi/-/22173/2eccd44a/ "It can also help them create networks and connect to other women who have succeeded."

Another initiative is the Women in Finance Charter. The U.K. government launched it in the year 2016. Financial firms have committed to gender diversity by signing the Women in Finance Charter.

Farsiar believes the Women in Finance Charter "is an amazing leap in the right direction." "It's encouraging financial companies to be proactive about gender diversity and is creating a positive change."

Women tend to be more likely to be promoted and are more likely to work in senior financial positions because of initiatives like We-Fi. This is good news both for women and for the financial sector.



Homepage: https://notes.io/qtngS