Notes

Farnoush Farsiar: Why are there so few women in finance?
Women are breaking down barriers and are becoming leaders in many industries. It is a sad fact, but women are a minority of financial professionals. However, this is unlikely to be changing anytime soon.

Deloitte's insights reports that by 2030 only 31 percent of the workforce will be female financial industry employees. This raises the issue of why there's not more women in the field of finance. There are many theories out on the internet but we wanted get an opinion from an expert on the subject. Farnoush Farsiar Farnoush Farnoush a highly successful financial professional who is devoted to women empowerment was the reason we sat down with her.

How Many Women are there in Finance?

The U.S. employs 57 percent of women, but only 24% have jobs in the financial sector. This is expected to increase to 28% over the next ten years and up from 24% in 2021 but much less than parity..

It's not only a problem that women face. Farnoush Farsiar stated that diversity is also a problem for economic growth. Farsiar stated that leadership teams with diverse perspectives have more impact than teams with fewer viewpoints. "So it's not only crucial for women to be included in these positions and it's equally important for the country overall."

https://brexitcentral.com/author/farnoush-farsiar/ There are several theories as to the reasons women aren't as represented in the financial sector. One theory suggests that the financial market is too competitive and male-dominated for women to make it into. Another theory states that financial careers are discouraged for women by peers or parents.

Farsiar believes that the socialization of women in their early years is at the root of the problem. Women are raised to take care of their children and to be accountable for their safety. "We are taught to not risk our lives, but instead to be cautious. https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times This isn't conducive to being a successful career financially.

It's not enough that women are educated as caregivers. They're also viewed as people-pleasers. Farsiar says that women are taught to be polite, minimize conflict and maintain their differences in check. "But in the world of finance it is essential to be prepared and willing to speak out for yourself. You need to be able to defend your ideas."

Farsiar Asks Where are all the female finance professionals?
Farnoush Farsiar Particularly at the top of the financial industry and in the top positions of finance, the absence of women in the finance industry is alarming. Women are only about 10% of the executive positions according to a research study by Pew Research. Only 11.5 percent of women sit on the top financial boards.

This disparity has real-world consequences for women in finance. They are more likely than their male counterparts will be promoted, and are more likely to leave the field.

It is good to know that women are slowly however, steadily, advancing in higher positions. Farnoush Farsiar believes the reason for this rise is due to the #womenshould movement which has raised awareness of the problem of diversity. Farsiar claimed she is "convinced" that the #MeToo Movement also has had a huge impact. Women are speaking out to demand change.

Obstacles for women to enter the world of finance
There are many obstacles that hinder women from taking up finance careers. The lack of role models is one of the most significant obstacles. Women in finance are typically the only ones in their respective departments, which could result in isolation.

Farsiar explained that being the sole woman in a room can be extremely intimidating. "You feel like you're expected to be flawless all the time, and that you're not allowed to make a mistake."

Another obstacle is the traditional boys' club mentality, that persists in a lot of financial institutions. This is the belief that men promote other men while women are left out.

Farsiar acknowledges that "there's more truth to that," he says. "I have witnessed it firsthand. Men are always promoting women regardless of whether they are more experienced.

This old boys' club mentality can lead to the harassment of women and discrimination. Female finance professionals are often targeted for ostracizing remarks or unwanted advances from male colleagues.

Farnoush Farsiar declares, "It's definitely a problem." "Women who work in finance are often treated as commodities, which makes it difficult for them to succeed."

The last obstacle is the absence of flexible working hours. Family responsibilities are more common among women than for males. These women need flexible working arrangements in order to balance work and home.

"Finance is a very challenging business. It can be challenging to keep up with the demands of your job when you have other responsibilities. Women often are being forced to choose between family and work.

These barriers make achieving top positions in the financial services sector very difficult for women. There are many initiatives to combat this problem.

Farnoush Farsiar is optimistic about the future of women in finance.
Farnoush Farsiar There are plenty of positive reasons to believe in the future of women in finance. There are a variety of initiatives being implemented to boost women's participation in the finance market, and to help women as they pursue high-level roles.

One such initiative is the Women Entrepreneurs Finance Initiative (WeFi) that is a partnership between the World Bank Group & 14 governments. We-Fi provides financing and support to women-owned companies in developing countries.

Farsiar said, "This program is a great one because it gives women access and the resources to establish and grow their businesses." "It also helps women build networks and networks with other women who have succeeded."

Another initiative is the Women in Finance Charter. The U.K. government launched it in the year 2016. The Women in Finance Charter is designed to promote gender diversity in financial institutions.

Farsiar believes the Women in Finance Charter represents a significant step forward. "It's encouraging financial companies to act on gender diversity, and it's making a difference."

Women in Finance Charter and We-Fi are helping more women achieve high-level positions. This is good news for both women and the financial industry.


Farnoush Farsiar
Here's my website: https://lexcliq.com/how-can-wealth-management-firms-prepare-for-turbulent-times-farnoush-farsiar/