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Farnoush Farsiar - Why are women so scarce in finance?
Women are breaking through the barriers and reaching huge success across a wide range of fields. The sad truth is that there are still a many women in finance. However, this is unlikely to be changing anytime soon.

Deloitte's insight states that by 2030 only 31 percent of the workforce will be female financial industry employees. It begs the question how come there isn't a lot of women working in the finance industry? There are many theories out there, but we wanted to get an opinion from an expert in the field. Farnoush Farnoush was interviewed by us. She is an experienced finance professional who has a passion for women empowerment.

What percentage of women are working in finance?

The U.S. is home to 57 percent of the population. However the country only has 24% of financial positions. It is predicted that this figure will increase to 28% in the next 10 years, compared to 24 percent in 2021. But it still falls well short of the parity.

The lack of diversity isn't just a problem for women. Farnoush Farsiar said that it's also a major issue in the economy. Farsiar said that teams with different styles of leadership perform better than ones that have the same views. "So it's crucial that females are represented in these occupations. It's also crucial for the nation."

There are many theories about why women are underrepresented in the financial sector. One hypothesis is that the financial sector is simply too male-dominated and competitive for women to enter. A different theory suggests that women aren't encouraged to pursue careers in finance either by their parents , or their peers.

Farsiar believes that women's socialization at an early age is the root of this problem. Women are raised to look after their children and be responsible for their safety. Farnoush Farsiar "We are taught to be cautiously and avoid taking risks. This doesn't make sense for a career as a financial analyst.

Women are educated not just to take care of other people however, they also have to please people. Farnoush Farsiar Farsiar says that women are taught to be polite and avoid conflicts. "But in the field of finance you must be able to stand up for yourself. You must be able advocate for your ideas.

Farsiar asks where are all the women in finance?
Farnoush Farsiar Women are particularly underrepresented in finance, particularly at the highest levels. A 2016-2017 study done by Pew research discovered that women make up just 10% of the executive roles. Just 11.5 percent of the board members of financial firms are headed by women.

This is a real-world issue for women working in finance. Females are more likely in finance to be promoted than male counterparts.

https://lexcliq.com/how-can-wealth-management-firms-prepare-for-turbulent-times-farnoush-farsiar/ The good news is that the number of women working in senior positions is steadily increasing. Farnoush Farsiar believes part of this rise in women's senior roles is due the #womenshould campaign , which increased awareness of the need for diversity. Farsiar stated she was "convinced" that the #MeToo movement also was a major influence. Women are beginning to voice their opinions and call for changes.

The financial barriers that stop women from taking up finance careers
There are many obstacles which prevent women from pursuing careers in the world of finance. The lack of role models for women is among of the biggest obstacles to women getting into finance. Finance women are typically the only woman working in their field and this can cause them to be lonely.

Farsiar admitted that it can be intimidating to be alone in a room that is only one person. "You expect to be flawless in all situations and there can't be any mistakes."

Farnoush Farsiar Another problem is the "old boys' club" mentality still prevalent in many finance companies. This is the belief in which men encourage other females and men are not allowed to join.

Farsiar acknowledges "There's plenty of truth in that." "I've observed it in person. Men will make promotions for men, even when they're more qualified.

This"old-boys' club" mentality can lead to sexual harassment and discrimination. A lot of male colleagues in finance often make demeaning remarks to women, and also make inappropriate advances to.

Farnoush Farsiar declares, "It's certain that there is an issue." "Women working in finance are usually treated as commodities, making it difficult for them to succeed."

The final obstacle is the lack of flexible work arrangements. Women tend to be more likely to have family responsibilities like caring for elderly parents and children. This means they need flexible working arrangements to balance their work and home life.

"Finance is a very demanding business, and it's difficult to manage the demands of your job when you have other responsibilities. Women often have to choose between their career, their family and their careers.

This makes it difficult to become a senior financial professional and get into the business. There are numerous initiatives to tackle this issue.

Farnoush Farsiar is optimistic about the future of women in finance.
There are many reasons to be hopeful about the future of women working in finance. There are numerous initiatives aiming to increase the number of females employed in the financial industry and to help them reach higher post.

One such initiative is Women Entrepreneurs Finance Initiative (We-Fi), a partnership with the World Bank Group and 14 governments. We-Fi is a financing and support program for women-led businesses in developing economies.

Farsiar said, "This initiative is great because it allows women access to the tools they require in order to start and expand businesses." It also allows them to establish networks and connect with other women who are successful.

The Women in Finance Charter, launched by the U.K. in 2016, is a different initiative. Farnoush Farsiar The Women in Finance Charter is a commitment of financial institutions to encourage gender diversity.

Farsiar lauds "The Women in Finance Charter as a significant step in the right direction." "It encourages financial firms to make changes to improve gender diversity and is making strides."

With initiatives like We-Fi and the Women in Finance Charter, more women get to enter and reach senior positions. This is good news, for women and men and the financial industry.



Read More: https://www.talk-business.co.uk/2022/06/21/fanoush-farsiar-on-the-importance-of-gender-lens-investing/