Notes

Farnoush Farsiar: Why are the women in finance so infrequent?
Women are breaking through more barriers and enjoying great success in various areas. The sad truth is, however, that women still are a minority of finance professionals. It's unlikely to improve, which is unfortunate.

Deloitte insights estimates that 31% of the financial industry employees will be women by 2030. This raises the issue of why there's not more women employed in finance. There are a myriad of theories on the internet, but we wanted to hear from an expert on the subject. Farnoush Farnoush a successful finance professional who is deeply committed to women's empowerment is the reason we interviewed her.

How many women are employed in finance?

In the U.S., 57 percent are women, however, they have just 24% of financial posts. The number is projected to grow to 28% over the next ten years, up from 24% in 2021 - but still way below parity..

The absence of diversity isn't just a concern for women. Farnoush Farsiar has stated that diversity can be an issue for economic growth. Farsiar noted that diverse leadership teams perform better compared to those that have fewer perspectives. "So it's not just crucial for females to be represented in these professions but also for the country as a whole."

There are many theories about why women are underrepresented in the financial sector. One theory is that the financial industry is too male-dominated, competitive and difficult for women to get into. Another theory is that the parents and their peers aren't encouraging women to consider financial careers.

Farsiar believes the source of the issue is the way women are treated from a young age. Women are raised to look after their children and to be accountable for their safety. "We're taught not to make risks, but rather to play it safe. This doesn't make sense for a career as an analyst of financials.

It's not enough that women are educated as caregivers. They're also taught to be people-pleasers. Farsiar stated women were taught to behave politely. "But you must be able to defend your own ideas regarding finance. You have to be able advocates for your own ideas.

Farsiar asks: Where are all the women in finance?
It's especially evident at the top of finance that there are not enough females. According to a survey conducted in 2016 and 2017 by Pew, women hold only 10% of the top executive positions. There are only 11.5% are women in the top boards of financial companies.

This is a real-world issue for women working in finance. They are more likely not to get promoted than their male counterparts, and they're also more likely to leave the field altogether.

The good news? Women are slowly but surely becoming more senior. Farnoush Farsiar believes this partly due to the #womenshould movement which has brought awareness to the absence of diversity. Farsiar says she's "convinced that the #MeToo campaign also had an incredible impact. Women are speaking out to call for change.

Barriers to Women Getting into Finance
There are many obstacles that women have to overcome in order to get into financial services. One of the main obstacles is the absence of role models. This can make it difficult for women who work in finance to be the sole females within their departments.

Farsiar said that being the only woman in a room can be extremely daunting. "You are conditioned to be perfect all of every moment, and that you mustn't make a mistake."

Another issue is the "old boys' club" mentality that is still prevalent in many finance firms. It is the belief that males favor men over women and women are not considered.

Farsiar admits that "there's a lot more than that," he says. "I have seen it happen in person. Men are always promoting women, even if they have more experience.

The old boys' club mentality can result in sexual harassment or discrimination. Females in the finance industry are often targeted for sexist comments and unwelcome advances from their male counterparts.

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

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This exponentially">Farnoush Farsiar Not to be forgotten it is the issue of flexible working arrangements. Women are more likely than men to have families responsibilities, for example, caring for children or elderly parents. Women need flexible work arrangements in order to balance work and family.

"Finance has a high-stakes industry. It is difficult to manage your responsibilities while working in finance. Women often have to choose between their career and their family."

These barriers make achieving high-level post in the financial service industry extremely difficult for females. There are numerous initiatives that are being implemented to address this.

Farnoush Farsiar Thinks There's a Bright Future for Women in Finance
There are many reasons to feel hopeful about the future of women in finance. Numerous initiatives have been undertaken to increase the number of women employed in finance and to assist them to reach higher positions.

One of these initiatives, Women Entrepreneurs Finance Initiative is a joint venture with the World Bank Group with 14 governments. We-Fi helps finance and support women-led business in developing countries.

Farsiar said, "This program is a excellent one as it provides women access to resources and opportunities to establish and grow their companies." "It can also help build networks and networks and also make connections with other women who are successful."

The Women in Finance Charter was another initiative that the U.K. government launched in 2016. Financial firms have committed to gender equality through the Women in Finance Charter.

Farsiar believes the Women in Finance Charter represents an important step in the right direction. "It's encouraging financial companies to act on gender diversity and is creating a positive change."

Women can now enter senior positions through initiatives like We-Fi as well as Women in Finance Charter. This is a great thing for women and the financial sector.




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