Notes

Farnoush Farsiar - Why are there so few women in finance?
Women are breaking down barriers and experiencing great successes in a variety of areas. However, the sad reality is yet, women are a minority of financial professionals. This isn't likely to improve, which is unfortunate.

Deloitte's insights reports that by 2030 only 31 percent will be female employees in the financial sector. This begs the obvious question: why are there so few women in finance. Although there are numerous theories, we wanted to hear the opinions from an expert. Farnoush Farnoush is a fervent finance professional and advocate for women's empowerment.

How many women are involved in finance?

In the U.S., 57% are women, but they are held in just 24% of financial posts. The number is projected to grow to 28% in the next 10 years and up from 24% in 2021 - but still way below parity..

Diversity is not just a problem for women. Farnoush Farsiar said that it's a serious issue for the economy. Farsiar claimed that teams that have different leadership styles are more successful than ones that share the same viewpoints. "So it's crucial that there are females in these professions. It's also crucial for the country as a whole.

There are a myriad of theories to explain the reasons women aren't included in the financial services industry. One theory is that the finance industry is too male-dominated and competitive to permit women to enter the field. Another theory says that the parents and their peers don't encourage women to choose financial careers.

Farsiar believes the source of the issue is how women are socialized from an early age. "Women are taught from an early age to be caretakers rather than risk-takers. Farnoush Farsiar "We're taught to be safe and not to take risks. It's not conducive to an investment career.

It's not just about being taught how to care for the children. Women also learn to love people. Farsiar says that women are taught to be polite and avoid conflicts. "But in finance it is essential to be able to stand up for yourself. You have to be able advocate for your personal ideas."

Farsiar asks where are all the women working in finance?
Women are disproportionately underrepresented in finance at the most senior levels. According to a study conducted by Pew Researchers just 10% of finance jobs are employed by women in top executive positions. They also hold only 11.5% of seats on the boards of financial firms.

This inequality has real-world effects on women working in finance. Women are less likely to be promoted than male counterparts. They're also more likely to leave the industry altogether.

Good news is that women are slowly increasing their positions in senior positions. Farnoush Farsiar believes it is because of the #womenshould Campaign, which has led to a more widespread awareness of the inequalities. Farsiar states that she believes that the #MeToo campaign had an equally significant impact. Women are beginning to voice their opinions and demand change.

Obstacles for women pursuing finance
There are many barriers that hinder women from entering the world of finance. Lack of role models is just one of these biggest obstacles. Finance women often are the only women working in their industry and can be lonely.

Farnoush Farsiar Farsiar acknowledged that it's intimidating to be alone in a room that is only one woman. "You expect to be flawless at all times and that there must be no mistakes."

Another obstacle is another one is the "old guys' club" mindset that exists in a lot of finance companies. This is the belief in which men encourage other females and men are not allowed to join.

Farsiar acknowledges that "there's lots of real," he says. "I have witnessed it personally. Men will be able to promote men even when the woman is more qualified."

This"old boys' club" mentality can also result in discrimination and harassment of women. Finance women are usually confronted with unwelcome advances and demeaning comments from male counterparts.

Farnoush Farsiar declares, "It's definitely an issue." "Women working in finance are often treated just like objects. It's difficult to get noticed in a world where women are treated this in that way."

The last obstacle is the absence of flexible working arrangements. https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/ Women are more likely than men to be entrusted with family responsibilities, such as caring for elderly or children parents. Women need flexible work arrangements in order to balance work and home.

"Finance is a highly demanding profession, and it's not easy to manage the demands of your job when you're also juggling other obligations. Women often find themselves being forced to choose between family and work.

These barriers make it very difficult for women to enter the financial sector and achieve senior posts. Farnoush Farsiar However, there are a few initiatives that can make a difference.

Farnoush Farsiar believes the Future is Bright For Women in Finance
There is every reason to be optimistic about the future of women's careers in finance. Many initiatives are being taken to increase women's participation in the financial market and to assist women as they pursue higher-level positions.

One example of such an initiative is Women Entrepreneurs Finance Initiative A partnership that is formed between 14 governments as well as the World Bank Group. We-Fi offers financing and support for women-owned enterprises in the emerging countries.

"This is an excellent initiative since it gives women access to the resources they require to start and grow their business," Farsiar said. "It will also assist them in building networks and connect with other successful women."

The Women in Finance Charter, launched by the U.K. in 2016, is a different initiative. The Women in Finance Charter is a commitment of companies in the financial sector to promote gender diversity.

Farsiar praises "The Women in Finance Charter as a major step forward." https://www.highlandcountychamber.com/farnoush-farsiar-why-are-there-so-few-women-in-finance/ "It will encourage financial institutions to make changes to improve gender diversity. It's making strides."

Women are now able to take on the top positions in organizations such as We-Fi as well as Women in Finance Charter. This is good news both for women and the financial industry.



Homepage: https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/