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Farnoush Farsiar: Why are so few women in finance?
Women are breaking down walls and are becoming leaders in various sectors. However, the sad fact is that the percentage of women in finance is still shockingly low. It's unlikely that this trend will change anytime soon.

Farnoush Farsiar Deloitte's research suggests that only 31 percent of financial professionals will be women in 2030. It raises the one-of-a-kind question: Why are there a lack of women in finance? There are a myriad of theories there however we wanted to get an opinion from an expert in the field. Farnoush Farnoush is a highly skilled finance professional passionate about women empowerment, was our interview subject.

What percentage of women are working in finance?

The U.S. has 57 percent of the workforce is female but just 24% financial jobs. Farnoush Farsiar This is expected to increase to 28% in the next ten years and up from 24% in 2021--still far short of parity..

It's not just a problem that women face. It's also a problem for the economy, said Farnoush Farsiar. https://writeablog.net/farnoush-farsiar6kaabb33/farnoush-farsiar-the-queen-elizabeth-ii-contribution-to-inclusion-and-diversity-2frm Farsiar pointed out that teams that have diverse leadership styles have better results than teams that have fewer perspectives. "So it's not only crucial for females to be represented in these professions but also for the country in general."

There are a myriad of theories on why women aren't more represented in the financial industry. The most popular theory is that finance is male-dominated and highly competitive for women to enter into. https://www.aemlaranjeira.pt/members/farnoush-farsiar3adddd22/activity/15329/ Another theory states that financial careers are discouraged for women by parents or peers.

Farsiar believes socialization of women in their early years is the root of the issue. "Women are taught at a young age that they need to be risk-takers rather than caretakers. "We are taught to be safe and not take risks. This isn't the best approach to pursue a career in finance.

It's not just that women are taught to be caretakers and caregivers; they're also taught to be nice to people. Farsiar explains that women are indoctrinated as polite and to minimize conflicts. "But in the field of finance, you have to be able be a voice for your thoughts. Farnoush Farsiar Farnoush Farsiar You must be able and willing to stand up for yourself.

Farsiar What are the fate of all the Finance Women?
At the highest levels of the financial industry, women are especially underrepresented. According to a report by Pew Researchers only 10% of finance jobs are employed by women in top executive posts. Also, they hold just 11.5% of the executive positions in financial companies.

This imbalance has real-world consequences for women who work in finance. This is because women are more likely not to get promoted than male counterparts and are also more likely not to stay in the industry.

The best part is that that the rise in women who hold senior positions is slow but steady. Farnoush Farsiar believes it is partly due to the #womenshould Campaign, which has led to a more widespread awareness of the problem of inequalities. Farsiar states that she believes the #MeToo movement had an equally significant impact. Women are speaking up to demand change.

The obstacles women face when trying to get into Finance
There are many obstacles that prevent women from getting into finance. A lack of role models is one of these biggest obstacles. This can make it hard for women in finance to become the only female in their respective departments.

Farsiar said that it's intimidating to be the only female present in the room. "It feels like you have to be perfect every time, and you should not make any errors."

Another obstacle is another one is the "old guys"club" mindset that exists in a lot of finance businesses. This refers to the idea that men favor men over women while women are not promoted.

"There's lots of truth in that," Farsiar admits. "I experienced it myself. Men will encourage their male counterparts regardless of whether women are more qualified.

This"old-boys' club" attitude can lead to discrimination and harassment sexually. https://adi.com.ng/members/farnoush-farsiar4cccdd11/activity/1286159/ Women who are financially successful often face insulting remarks and unwelcome advances by their male colleagues.

Farnoush Farsiar declares, "It's definitely an issue." "Women in Finance are usually treated as objects. It's hard to get ahead when you're treated this way."

Not to be forgotten, there is the issue of unflexible work arrangements. Women are more likely than men to have families responsibilities, for example, caring for elderly or children parents. They require flexible work schedules to manage their home and work lives.

"Finance is a very challenging business. It can be difficult to meet these demands with other obligations. Women are often forced to make a choice between their careers and their family."

These barriers make it very difficult for women to join the finance industry and attain senior post. There are however some initiatives that can help in overcoming this.

Farnoush Farsiar Thinks There's a Bright Future for Women in Finance
There are plenty of evidence to suggest that women will continue working in the financial sector. There are many initiatives designed to boost the numbers of women employed in the financial industry and assist them in achieving senior posts.

An example of this initiative is the Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments and the World Bank Group. We-Fi is an investment and support program specifically designed for women-led companies in developing economies.

Farsiar explained, "This initiative is great because it gives women access the tools they require in order to start and grow businesses." It helps them create networks and connect with other women entrepreneurs.

The Women in Finance Charter was another initiative the U.K. government launched in the year 2016. The Women in Finance Charter is a pledge by financial companies to promote gender diversity.

Farsiar believes the Women in Finance Charter represents significant progress. It's urging financial institutions to be proactive about gender diversity, and is making an impact.

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



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