Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through more barriers and enjoying huge success in various areas. However, the sad reality is yet, women only make up a tiny percentage of finance professionals. It is unlikely that this trend will change anytime soon.

Deloitte Web Insights reports that just 31% of financial sector workers will be women by 2030. Farnoush Farsiar This raises the question "Why do women have a hard time working in the finance industry?" While there are many theories on why this is the case but we would like to hear from someone who has been in the field for a long time. Farnoush Farnoush a successful finance professional who is passionately committed to women's empowerment was the reason we sat down with her.

How many women are employed in finance?

In the U.S., women make up 57 percent of the workforce, but they hold only 24% of financial jobs. This is expected to rise to 28% within the next 10 years from 24% by 2021. However, this is far below parity.

This is not a problem just for women. Farnoush Farsiar thinks it's an issue that has an impact on the economy. "Diverse leaders have better results than teams that do not have as broad a spectrum of opinions," Farsiar said. "So it's essential that there are females working in these fields. This is also important to the country in general.

There are many reasons why women aren't able to be present in the financial world. The most popular hypothesis is that the financial industry is too male-dominated and competitive to allow women to enter the field. Another theory suggests that females aren't encouraged by their parents to pursue careers in finance.

Farsiar believes the root issue lies in the way women are socialized young. https://autohub.ng/user/profile/1836899 "Women are socialized from a young age to be caretakers rather than risk-takers. "We're taught not to make risks, but rather to play it safe. This isn't a good idea for the field of finance.

Women are taught socially to be caring for one another. Farsiar says that women are taught to be polite, reduce conflicts and keep their differences in check. However, in the field of finance it is essential to speak for yourself. You need to be able to advocate for your ideas.

Farsiar asks where are the females who work in finance?
The lack of women in finance is particularly evident at the highest levels of the field. According to a study by Pew Researchers only 10% are employed by women in top executive positions. They also hold only 11.5 percent of the seats on the boards of financial firms.

This inequality has real-world effects on women who work in finance. Women are less likely in finance to get promoted than male counterparts.

It is good to know that there is an increase in the number of women working in senior positions. Farnoush Farsiar believes that this is due in part to the #womenshould movement, which has brought about a greater awareness of the absence of diversity. Farsiar declares she's "convinced that the #MeToo campaign has had a profound impact. Women are beginning to get their voices heard and demanding change."

The obstacles for women who want to pursue finance
A number of obstacles prevent women from taking up finance careers. A lack of role models is one of the most significant obstacles. Finance women often are the only women working in their field and this can cause them to be lonely.

"It is really scary being the only woman in the room," Farsiar said. "You are convinced that you need to be flawless every time, and you cannot be a fool."

Another issue is "old boys' club", a mentality that prevails in a lot of finance companies. This is the idea that men are superior to women and that they should encourage each other.

Farsiar admits that there's an element of truth to this assertion. "I've witnessed it myself. Women will always be promoted by men, even if they are more experienced.

This mindset of the old boys can result in sexual harassment and discrimination. Female finance professionals are often subjected ostracizing comments and unwanted advances by male colleagues.

Farnoush Farsiar Farnoush Farsiar declares "It's certainly an issue." "Women who work in finance are often treated like objects. It can be difficult to get noticed when you treat women that way."

Last but not least, there is the issue of inflexible working arrangement. Females are more likely than males to be entrusted with family responsibilities, such as taking care of children or elderly parents. They need flexible work arrangements to be able to balance their home and work.

"Finance is a highly demanding business, and it's difficult to meet those demands with other obligations. Women often have to choose between their career and their family."

These obstacles make it very difficult to become an experienced financial professional in the senior level and enter the industry. There are many initiatives being taken to remedy this.

Farnoush Farsiar is optimistic about the future of women in finance
There are many reasons to believe that women will continue working in the financial sector. Farnoush Farsiar Numerous initiatives have been taken to boost the number of women who work in finance and to assist them to reach higher positions.

One such initiative is the Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments as well as the World Bank Group. We-Fi is a financing and support program specifically designed for women-led companies in developing economies.

"This is an excellent initiative since it gives women access to the tools they need to start and grow their business," Farsiar said. It also helps them build networks and network with other female entrepreneurs.

The Women in Finance Charter, created by the U.K. in 2016, is an additional initiative. Financial firms have committed to gender diversity by signing the Women in Finance Charter.

"The Women in Finance Charter is a great step forward," Farsiar encourages. "It's encouraging financial firms to take action on gender diversity and is creating a positive change."

Women are more likely to get promoted and get the chance to be employed in high-level financial positions thanks initiatives like We-Fi. Farnoush Farsiar This is good news for both females and the financial sector.



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