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Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking down barriers and becoming great leaders in various industries. However, the sad reality is however, that women still only make up a tiny percentage of financial professionals. It is likely that this trend won't be changing anytime soon.

Deloitte's insights estimates that 31% of financial industry employees will be women in 2030. This raises the obvious question: why are there many women in finance. There are many theories. We needed to hear from an expert. Farnoush Farnoush is a committed finance professional and advocate for women's empowerment.

How Many Women are there in the field of finance?

The U.S. is home to 57 percent of the population. But there are only 24% of financial positions. That's is projected to expand to 28% over the next 10 years increasing from 24% in 2021 but much less than parity..

It's not just a problem faced by women. Farnoush Farsiar claims it's an issue for the economy. Farsiar claimed that teams that have diverse leadership styles perform better than those with the same range of viewpoints. It is crucial for women to be included in these fields. However, it's also essential for the nation.

https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times There are many theories as to the reasons women aren't represented in the financial industry. The most popular theory is that the financial sector is too male-dominated and competitive for women to break in. A different theory suggests that parents and their peers hinder women from entering finance careers.

Farsiar believes the root of the problem lies in how women are socialized from a young age. "Women at a young age are taught to be risk-takers, but caregivers. "We are taught to be cautiously and avoid taking risks. This isn't conducive to an enviable career in the financial.

It's not just about being taught to take care of the children. Women are also taught to be kind to people. Farsiar stated that women were taught to be polite. "But in finance it is essential to be able and willing to speak up for yourself. You must be able to advocate for your personal 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. Farnoush Farsiar According to a study conducted in 2016-17 conducted by Pew. Women have 11.5 percent of financial company board seats.

This can have real-world effects on women who work in finance. Women are less likely to be promoted than their male colleagues will be promoted and are more likely to leave the field.

The good news? Women are slowly, but surely becoming more senior. Farnoush Farsiar believes that this is in part due to the #womenshould campaign that has resulted in a greater awareness of the lack of diversity. Farsiar states she's "convinced that the #MeToo campaign also had an incredible impact. Women are now starting to defend their rights and demanding changes.

There are hurdles for women being able to enter finance
There are numerous obstacles women must overcome to get into the world of finance. One of the biggest issues is the lack of role models. Women in finance are typically the only ones in their respective departments, which could cause being isolated.

"It can be really intimidating to be the only woman in the room," Farsiar said. "It makes you feel like you need to be perfect all the time and you should not make any mistakes."

Farnoush Farsiar Another issue is another one is the "old guys"club" mentality in many finance companies. This is the idea that men are better than women and men should promote each other.

Farsiar acknowledges that "there's more than that," he says. "I have witnessed it personally. Men will encourage other men regardless of whether the woman is better qualified.

This"old-boys' club" mentality may also lead to discrimination and sexual harassment. Many male colleagues working in finance make demeaning remarks to women, and also make inappropriate advances to.

Farnoush Farsiar declares, "It's certain that there is a problem." Farnoush Farsiar "Women in finance are often considered to be objects and it's difficult to advance if you're treated that way."

Then, there is the issue of inflexible working arrangement. Females are more likely to have family responsibilities than men, such as caring after elderly parents or their children. Women require flexible work arrangements to allow them to balance work and home.

"Finance, being a complex industry, is hard to handle when you have other responsibilities. Women are often required to choose between their career and their family."

https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/ These barriers make it very difficult for women to enter the finance industry and attain high-level post. But, there are a number of initiatives being implemented to improve this.

Farnoush Farsiar believes the Future is bright for women in Finance.
There's plenty of reason to be optimistic about the future of women working in finance. Numerous initiatives have been taken to boost the number of women who work in finance and assist them to reach higher positions.

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

Farsiar said, "This is an excellent initiative because it allows women access to the resources they need to assist them in starting and expanding their businesses." It also allows them to build networks and connect to other successful women.

The Women in Finance Charter, launched by the U.K. in 2016, is an additional initiative. The Women in Finance Charter is a commitment of financial institutions to encourage gender diversity.

Farsiar says to "The Women in Finance Charter" is a major move forward. "It's encouraging financial institutions to be proactive about gender diversity, and it's making a difference."

Women in Finance Charter and We-Fi have helped women to achieve higher-level positions. This is a good thing for women as well as the financial sector.



Read More: https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/