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Farnoush Farsiar, Why Are So Few Women in Finance
Women are breaking down walls and becoming great leaders in many industries. The unfortunate reality is that the number of women in finance is still shockingly low. Unfortunately, this may not be changing anytime soon.

Deloitte Web Insights shows that just 31 percent of workers in the financial industry will be female by 2030. This raises the issue of why there's not more women working in the field of finance. There are several theories, we decided to learn the views from an expert. Farnoush Farnoush is a passionate financial professional who is a champion for women's empowerment.

How many women are involved in the field of finance?

In the U.S., 57 percent are women, however, they hold just 24% of financial positions. It is anticipated that the number will grow to 28% over the next 10 years, compared to 24 percent in 2021. But it still falls far short of parity.

Diversity isn't just an issue for women. Farnoush Farsiar says it is an issue for the economy. "Diverse leadership teams perform better than ones that do not have as broad a spectrum of opinions," Farsiar said. https://taldilianxmwd.bloggersdelight.dk/2022/02/19/intellexa-provides-effective-datadriven-information-architecture-tal-dilian-3/ According to the cyber pro and business person Tal Dilian, the globe is actually living in an opportunity where cyberattacks possess the prospective to wreak havoc on the civilian and also federal government chiangraitimes.com/tech/data-driven-information-by-entrepreneur-tal-dilian/ infrastructure. Therefore, critical services are actually shut down and lifestyles are actually put at risk.
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This exponentially">Farnoush Farsiar "So it's not just crucial that women are included in these positions; it's also critical for the country as a whole."

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 industry is very male-dominated, competitive and challenging for women to join. Another theory suggests that females are not encouraged by their families to pursue finance careers.

Farsiar believes that women's socialization in their early years is the cause of the problem. "Women are socialized at a young age to be caregivers rather than risk-takers. "We are taught to stay secure and not take chances. And that's just not conducive to a career in finance."

It's not enough for women to be trained to be caretakers. They're also socialized as people-pleasers. Farsiar says that women are taught to be courteous, avoid conflicts, and keep their differences in check. "But in finance, you need to be capable of standing up for yourself. You must be able and willing to advocate for yourself.

Farsiar asks Where are the females who work in finance?
Particularly at the highest levels of finance, the lack of women working in finance is alarming. Women are only about 10% of the executive positions as per a 2016-2017 study by Pew Research. Only 11.5 percent of the board members at financial companies are held by women.

This inequality has real-world effects on women who work in finance. This is due to the fact that women are more likely not to be promoted than male counterparts and are more likely to leave the industry.

The good news? Women are gradually, but steadily becoming more senior. Farnoush Farsiar believes this partly because of the #womenshould campaign which raised awareness of the lack of diversity. Farsiar says she is certain that the #MeToo movement also has had a significant impact. Women are now starting to claim their rights and demand change.

The obstacles women face when trying to get into the world of finance
There are many obstacles that prevent women from getting into finance. Lack of role models is just one of the most significant obstacles. Finance women are typically the only women working in their industry and can be lonely.

Farsiar stated that it's a bit daunting to be the only female present in the room. "You are convinced that you need to be perfect each time, and you cannot be a fool."

Another obstacle is the traditional boys' club mentality that is still prevalent in a lot of financial institutions. This is the idea that men support other women and that they are excluded.

Farsiar admits that there's a lot to this statement. "I have seen it happen personally. Men will always promote women even when they are more experienced.

This old boys' mentality can lead to discrimination and harassment of women. Female finance professionals are often subjected ostracizing comments and unwanted advances from male colleagues.

Farnoush Farsiar declares "It's certainly an issue." "Women working in finance are typically treated as objects, and it's extremely difficult to make it in the financial world when you're being treated like that."

The last issue is the lack of flexible working hours. Family obligations are more frequent for women than for males. They need flexible work arrangements to balance their family and work schedules.

"Finance is a very demanding business. It can be difficult to manage these demands when you have other responsibilities. Women often find themselves forced to choose between work and family.

This makes it difficult to become a senior financial professional and get into the business. There are however some initiatives that could help to change this.

Farnoush Farsiar is optimistic about the future of women in finance
There are good evidence to suggest that women will continue working in financial services. There have been numerous initiatives launched to boost the number of women and get to the highest levels of the financial sector.

One such initiative is Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments as well as the World Bank Group. We-Fi helps finance and support women-led enterprises in developing countries.

Farsiar said that this was a fantastic initiative because it provides women with the tools to expand and begin their own businesses. "It can also help women create networks and connect with other women who have succeeded."

The Women in Finance Charter, introduced by the U.K. in 2016, is a different initiative. The Women in Finance Charter is a pledge made by financial firms to encourage gender diversity.

Farsiar believes to "The Women in Finance Charter" is a major move forward. "It's encouraging financial firms to take action on gender diversity and is creating a positive change."

Women are now able to enter high-level positions thanks to initiatives like We-Fi as well as Women in Finance Charter. This is a good thing for women as well as the financial industry.




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