Notes

Farnoush Farsiar: Why are there so few women in finance?
Women are increasingly breaking through barriers and achieving huge success in a variety of sectors. The sad reality is that very few women are working in finance. This is likely to remain the case for a while, however.

Deloitte's insights says that by 2030, only 31 percent of the workforce will be female financial sector employees. This raises the obvious question: why are there so few women in finance. Although there are many theories on why this is however, we would like to hear from someone who has been in the field for some time. Farnoush Farnoush a highly successful financial professional who is devoted to women's empowerment is the reason we sat down with her.

How many women work in finance?

The U.S. is home to 57 percent of the working population. However, they only hold 24% of financial jobs. The projected increase in women's participation will be 28 percent over the next 10 years which is up from 24% for 2021. This is still far short of parity.

Diversity isn't only an issue for women. It's a major issue for the economy, as stated by Farnoush Farsiar. Farsiar said that diverse leadership teams have more impact than teams with fewer viewpoints. "So it's important that women are represented in these occupations. This is also essential for the country."

There are a myriad of theories as to the reasons why women in the finance sector aren't represented. One theory states that the market for financial services is too male-dominated and competitive for women to make it into. A different theory suggests that women are not motivated to take up careers in finance, whether by their parents or peers.

Farsiar believes that the source of the issue is how women are socialized from an early age. "Women are taught from an early age that they are caretakers, not risk-takers. "We're taught to be safe and not to take risks. https://suite.endole.co.uk/insight/people/25691618-farnoush-farsiar-aidi This isn't the most effective method to pursue an investment career.

Women are taught not just to care for other people, but also to please people. Farsiar says that women are taught to be polite and to minimize conflict. "But you must be able advocate for your own ideas in finance. You must be able advocate for your personal ideas."

Farsiar asks Where are the females who work in finance?
Particularly at the top of the finance industry and in the top positions of finance, the absence of women in finance ranks is alarming. According to a 2016-17 study conducted by Pew. Women also hold only 11.5 percent of the executive positions in financial companies.

This has real-world implications for women who work in finance. They are more likely to be promoted than their male counterparts will be promoted and are more likely leave the industry.

Farnoush Farsiar The good news? Women are gradually, but steadily getting older. Farnoush Farsiar believes part of the increase in women taking on senior positions is due to the #womenshould campaign which raised awareness of the issue of diversity. Farsiar states that she believes that the #MeToo campaign has had a similar impact. Women are now more vocal and demanding change.

Barriers to Women Getting into the world of finance
A number of obstacles prevent women from pursuing finance careers. Farnoush Farsiar One of the most significant barriers is the lack of role models. Women in finance are often the only female employees in their field, which can prove to be lonely.

Farsiar acknowledged that it is intimidating to be alone in a room with just one woman. "You feel as if you're being expected to be perfect all of the time, and that you shouldn't be able to make any mistakes."

Another obstacle is the "old guys' club" mentality in many financial firms. This is the idea that men are better than women, and that men should be promoting one another.

"There's a lot of truth in that," Farsiar admits. "I have seen it happen personally. Men will make other men feel superior even when women are more skilled."

This"old boys' club" mentality can also lead to sexual harassment and discrimination. A lot of male colleagues in finance often make sexist remarks towards women, and also make inappropriate advances to.

https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ Farnoush Farsiar exclaims that "it's definitely an issue." "Women who work in finance are usually treated as objects. It's not easy to make it big in a world where women are treated this in that way."

Last but not least lastly, there's the issue of inflexible working arrangement. Women tend to be more likely to have the responsibility of taking care of elderly parents or children. They require flexible work schedules to be able to balance their home and work lives.

"Finance has a high-stakes industry. It can be difficult to balance your work and family obligations when you're also working in the finance industry. A lot of women have to make a choice between their job or their family.

These obstacles make it extremely difficult for women to enter the financial sector and achieve high-level positions. There are numerous initiatives to tackle this issue.

Farnoush Farsiar believes that the future is bright for women working in the field of finance.
Farnoush Farsiar There's plenty of reason to be optimistic about the future of women in finance. A variety of initiatives are aiming to increase the proportion of women working in the finance industry and help them reach senior positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one such initiative. It's a partnership with World Bank Group and 14 countries. We-Fi provides financial support and assistance to women-led business in developing countries.

Farsiar said, "This program is a great one because it gives women access to resources and opportunities to start and grow their businesses." It also allows them to establish networks and connect with other women who have succeeded.

Another initiative is the Women in Finance Charter. Farnoush Farsiar This was launched by the U.K. government in 2016. The Women in Finance Charter encourages gender diversity.

Farsiar says the Women in Finance Charter "is a great leap forward." It encourages financial institutions as well as other companies to tackle gender diversity.

Through initiatives such as We-Fi as well as the Women in Finance Charter, women are more likely to be accepted into and hold senior positions. This is a great thing for women as well as the financial industry.



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