Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through barriers and experiencing great success in various fields. However, the sad reality is however, that women still make up a small percentage of finance professionals. However, this is unlikely to change anytime soon.

Deloitte insight estimates that 31% of the financial industry employees will be female by 2030. This raises the issue of why there's not more women working in finance. Farnoush Farsiar There are numerous theories as to why this is but we were looking for an opinion from someone who has worked in finance for some time. We conducted an interview with Farnoush Farsiar an experienced finance professional who is passionate about women's empowerment.

Are there women working in finance?

In the U.S., women make up 57% of all workers However, they hold only 24 percent of the financial positions. It is predicted that this number will rise to 28% within the next 10 years from 24% by 2021. However, it's still well below the average.

This isn't just a matter that women face. https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 Farnoush Farsiar has said that it's also a major issue in the world of business. Farsiar noted that teams that have diverse leadership styles are more effective than those who have less perspectives. "So it's important that women are represented in these occupations. It's also crucial for the country."

Farnoush Farsiar There are many theories about why women in the financial industry aren't represented. The most popular theory is that finance is too male-dominated and competitive for females to enter into. A different theory suggests that parents and their peers discourage women from pursuing career paths in finance.

Farnoush Farsiar Farsiar believes that the source of issue lies in the ways women are socialized in their youth. "Women at a young age are taught to be risk-takers and caretakers. "We're taught to play safe, not to risk our lives. That's not a great way to lead to a career in finance."

It's not just the fact that women are socialized to take care of their children and caregivers; they're also taught to be nice to people. Farsiar states that women are taught to be courteous and avoid conflict. https://www.privatebankerinternational.com/author/farnoushfarsiar/ "But in the world of finance you must be able to stand up for yourself. You must be able to advocates for your own ideas.

Farsiar asks Where are the females working in finance?
Particularly at the top of the financial industry and in the top positions of finance, the absence of women in finance ranks is alarming. According to a study conducted between 2016 and 2017 by Pew the women in finance hold only 10% of the executive-level positions. Women also hold only 11.5% of the board seats at financial companies.

This disparity can have real-world effects on women who work in finance. This is because women are more likely not to be promoted than male counterparts and are more likely to quit the industry.

It's great to know that there's an increase in the number of women who are employed in higher posts. Farnoush Farsiar believes part of the increase in women taking on senior roles is due the #womenshould campaign , which increased awareness about the importance of diversity. Farsiar stated she was "convinced" that the #MeToo movement also had an enormous impact. Women are becoming more vocal and insisting on change.

There are barriers to women getting into finance
There are many barriers that prevent women from entering the world of finance. A lack of role models is just one of the biggest hurdles. Women in finance are often the only female employees in their area and can be lonely.

Farsiar stated that it's daunting to be the only female in the room. "You are convinced that you need to be perfect every time and that you aren't allowed to be a fool."

Another barrier is the old boys' club mentality that persists in many financial firms. This refers to the idea that men promote other men and women are not promoted.

"There's lots of truth in it," Farsiar admits. "I've witnessed this happen firsthand. Men will be able to promote men regardless of whether the woman is more qualified."

This old boys' club mentality can also result in sexual harassment and discrimination. Women in finance are frequently confronted with unwelcome advances and humiliating remarks from their male counterparts.

Farnoush Farsiar says, "It is certain that it is a problem." "Women in Finance are often treated like objects. It's difficult to make progress in a world where you're treated like a commodity."

Inflexibility in working schedules is another obstacle. Farnoush Farsiar Females are more likely than males to have household responsibilities, like taking care of children or elderly parents. Flexible work schedules are essential for women to be able to manage work and family.

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

These obstacles make it extremely difficult for women to join the financial industry and reach senior posts. There are numerous initiatives to address this issue.

Farnoush Farsiar Thinks There's a Positive Future for Women in Finance
There's plenty of reason to be optimistic about the future of women working in finance. Many initiatives are being implemented to boost women's involvement in the financial market and to assist women as they pursue high-level roles.

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

Farnoush Farsiar Farsiar said, "This program is a fantastic one since it provides women access to resources and opportunities to establish and grow their companies." It also helps them build networks and connect with other female entrepreneurs.

A different initiative is the Women in Finance Charter, which the U.K. government launched in 2016. The Women in Finance Charter is a commitment of financial institutions to encourage gender diversity.

Farsiar believes to "The Women in Finance Charter" is a significant move forward. Farnoush Farsiar Financial companies are being encouraged to act on gender diversity, and is making an impact.

Women are now able to enter senior positions through initiatives such as We-Fi and Women in Finance Charter. This is good news, for both women and the financial sector.


https://www.difc.ae/public-register/rumi-investment-limited/
Homepage: https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/