Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through barriers and experiencing great successes in a variety of fields. Unfortunately, very few women are working in finance. https://www.highlandcountychamber.com/farnoush-farsiar-why-are-so-few-women-in-finance/ However, this is unlikely to change anytime soon.

Deloitte insights suggests that only 31 percent of financial professionals will be female in 2030. This raises the question as to why there aren't more women employed in the field of finance. There are many theories. We wanted to hear more from an experienced expert. We conducted an interview with Farnoush Farsiar an accomplished financial professional who is a firm believer in women's empowerment.

How many women are employed in Finance?

The U.S. has 57 percent of the workforce is female however, there are just 24% financial jobs. The expected increase in female participation is 28 percent over the next ten years which is which is up from 24% in 2021. However, this is far short of the parity.

It's not an issue that is only affecting women. Farnoush Farsiar said that diversity can be an issue for economic growth. Farsiar claimed that teams that have diverse leadership styles perform better than those with the same range of viewpoints. "So it's essential that women are represented in these occupations. It's also crucial for the nation."

There are many theories as to the reasons women aren't as represented in the financial sector. One theory states that the market for financial services is too male-dominated and competitive for women to enter. Another theory suggests that females are not encouraged by their families to pursue careers in finance.

Farsiar believes that the root of the problem is how women are socialized at a young age. "Women are taught at an early age that they must be risk-takers rather than caretakers. "We're taught to play it safe, not to risk our lives. This doesn't make sense for an occupation as an analyst in finance.

It's not only that women are taught to be caregivers and caregivers; they're also taught to be pleasant to others. "Women are indoctrinated to be courteous and avoid conflict," Farsiar adds. "But you need to be able advocate for your own ideas in finance. It is essential to be able support your own thoughts.

Farsiar: Where are all the Finance Women?
At the top of the financial industry there is a significant lack of women. According to a study conducted between 2016 and 2017 by Pew the women in finance hold just 10% of the executive-level post. Farnoush Farsiar Only 11.5 percent of the boards of financial firms are headed by women.

This imbalance has real-world impact on women who work as finance professionals. It is because women are more likely not to be promoted than their male counterparts, and are more likely to leave the field.

The best part is that the increase in women holding high-level positions is not rapid but steady. Farnoush Farsiar believes the reason for this rise is due to the #womenshould movement that has raised awareness of the issue of diversity. https://www.tumgir.com/farnoush-farsiar8dddbb11 Farsiar claims that she believes that the #MeToo campaign also had an extraordinary impact. Women are beginning to claim their rights and demand change.

Barriers to Women Getting into Finance
A variety of obstacles hinder women from getting into finance. A lack of role models is just one of these biggest obstacles. Finance professionals are typically the only woman within their field, which can be isolating.

Farsiar acknowledged that it is daunting to be in a room with only one woman. "You expect to be perfect at all times and that there must be no mistakes."

Another issue is the boys' club mentality, which still exists in many financial firms. This refers to the idea that men are the ones who promote men, and women are not promoted.

Farnoush Farsiar Farsiar admits that there's a lot to this statement. "I have witnessed it firsthand. Men will make promotions for men, even if they are more skilled.

This old boys' mentality could lead to to discrimination and harassment of women. Male colleagues working in finance make demeaning remarks to women and make unwelcome advances.

Farnoush Farsiar says, "It is definitely an issue." "Women in Finance are often considered to be objects. It's tough to make progress when you're treated in this manner."

The last obstacle is the absence of flexible work arrangements. Women are more likely to take on family responsibilities like caring for parents who are elderly and children. These women need flexible working arrangements in order to balance work and family.

"Finance is a highly demanding sector. It can be challenging to meet these demands with other obligations. Women are often forced to make a choice between their careers and their family."

These barriers make it very difficult for women to get into the financial sector and achieve the top post. But, there are several initiatives being implemented to overcome this.

Farnoush Farsiar believes that the future is bright for women in finance
There are many reasons to be optimistic about women's future in the field of finance. Numerous initiatives have been undertaken to increase the number of women working in finance and to assist women in achieving senior positions.

One such initiative is Women Entrepreneurs Finance Initiative (WeFi) It is a collaboration between the World Bank Group & 14 governments. We-Fi is an investment and support program for women-led businesses in developing economies.

Farsiar said, "This initiative is great because it allows women access to the resources they need for starting and expand their businesses." "It will also assist women in building networks and network with other women who are successful."

A different initiative is the Women in Finance Charter. The U.K. government launched it in the year 2016. Farnoush Farsiar Financial companies have pledged to gender equality through the Women in Finance Charter.

Farsiar claims that the Women in Finance Charter "is an amazing leap in the right direction." "It will encourage financial institutions to take action regarding gender diversity and is already creating a positive change."

Women are more likely to get promoted and have the opportunity to be employed in high-level financial positions thanks initiatives like We-Fi. This is a good thing for women and men and the financial sector.



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