Notes

Farnoush Farsiar: Why are there so few women in finance?
Women are breaking through the barriers and reaching great success across a variety of industries. The sad reality though is that the number of women in finance is still shockingly low. Unfortunately, this may not change any time soon.

Deloitte insights shows that only 31 percent of financial professionals will be female by 2030. It begs the question "Why do women have a hard time working in financial services?" There are numerous theories as to why this is but we were looking for an opinion from someone who's been working in the field for some time. Farnoush Farnoush has been interviewed by us. She is a seasoned finance professional who is passionate for women empowerment.

How many women are employed in finance?

In the U.S., women make up 57% of all workers However, they hold just 24 percent of the financial positions. This is expected to rise to 28% in the next 10 years, from 24% by 2021. However, this is well below the average.

Diversity isn't just a problem for women. Farnoush said it's also a major issue in the economy. Farsiar said that diverse leadership teams have more impact than teams that have less perspectives. "So it's critical that women are working in these fields. It's also essential for the nation as a whole.

There are many theories that provide the reason women aren't being represented in the financial industry. One hypothesis is that the industry is simply too male-dominated and competitive for women to enter. Another theory suggests that parents and peers don't encourage women to choose financial careers.

Farsiar believes women's socialization from the age of ten is the heart of the problem. Women are taught to care for their children and be responsible for their security. Farnoush Farsiar "We're taught not to make risky decisions but to be safe. This doesn't make sense for a career as a financial analyst.

It's not only that women are taught to take care of their children; they're also socialized to be people-pleasers. Farnoush Farsiar Farnoush Farsiar "Women are indoctrinated to be courteous and avoid conflict," Farsiar adds. "But you have to be able advocate for your own ideas in finance. You must be able to advocate for your own ideas.

Farsiar - Where is all the women in the accounting and finance fields?
At the top of the financial industry there is a significant lack of women. According to a study conducted by Pew Researchers only 10% are employed by women in top executive post. And they hold just 11.5 percent of the board seats at financial firms.

Farnoush Farsiar This imbalance has real-world consequences for women who work in finance. They are more likely not to get promoted than male counterparts, and are also more likely to leave the field entirely.

The good news is that women are gradually, but steadily becoming older. Farnoush Farsiar believes that this is partly due to the #womenshould campaign that has resulted in a greater awareness of the issue of diversity. Farsiar believes that #MeToo has had an incredible impact in her personal life. Women are now beginning to assert their rights and demand change.

Financial Access Barriers for Women
There are many obstacles that hinder women from going into finance. One of the largest obstacles is the lack of role models. Women in finance are often the only women working in their field and can be lonely.

"It is really scary to be the sole female in the room" Farsiar said. "You are convinced that you need to be flawless every time, and you cannot make mistakes."

Another problem is another issue is the "old boys' club" mentality still prevalent in many finance companies. This refers to the notion that men promote other women and women are left out.

"There's plenty of truth in it," Farsiar admits. "I experienced it myself. Men will be arousing to other men regardless of whether they are better equipped.

This old boys' mentality can lead sexual harassment and discrimination. Finance women are usually subject to unwelcome advances and humiliating remarks from their male counterparts.

Farnoush Farsiar exclaims that "it's certainly a issue." "Women working in finance are typically treated like commodities, making it extremely difficult for them to be successful."

The last barrier is the difficulty in finding flexible work schedules. It is more typical for women to take on the responsibilities of a family, such as taking care of their parents, elderly parents, or children. To manage their family and professional lives it is necessary to have flexible working arrangements.

"Finance, being a complex business, is difficult to manage when you have additional responsibilities. Women often have to choose between their career as well as their family.

This makes it challenging for women to enter the finance industry and take on high-level positions. There are many initiatives underway to overcome this.

Farnoush Farsiar believes the Future is Bright For Women in Finance
There are numerous reasons to be optimistic about the future for women working in finance. Several initiatives are working to increase the number of women working in the finance industry and help them reach senior positions.

One of these initiatives, Women Entrepreneurs Finance Initiative is a collaboration of the World Bank Group with 14 governments. We-Fi supports women-led companies in developing nations by providing funding and assistance.

Farsiar declared that this was a fantastic initiative as it gives women the tools to grow and start their own companies. It also helps them to create networks and connect with other successful women.

http://www.bcsnerie.com/members/farnoush-farsiar1bddcc33/activity/2474362/ The Women in Finance Charter, launched by the U.K. in 2016, is an additional initiative. Financial firms have committed to gender diversity through the Women in Finance Charter.

"The Women in Finance Charter is a great step forward," Farsiar encourages. "It encourages financial institutions to act on gender diversification, and is already creating a positive change."

Women in Finance Charter and We-Fi have helped women to achieve higher-level positions. This is an excellent thing for both the financial and women sectors.



Here's my website: http://www.bcsnerie.com/members/farnoush-farsiar1bddcc33/activity/2474362/