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Farnoush Farsiar on Why are So Few Women in Finance?
Women are increasingly breaking down walls and finding great successes in a variety of sectors. However, the sad fact is that the percentage of women working in finance is still shockingly low. It is likely that this trend won't be changing anytime soon.

Deloitte insight estimates that 31% of financial industry employees will be women in 2030. This begs the obvious question: Why are there so few women in finance. Farnoush Farsiar There are many theories out there, but we wanted to get an opinion from an expert in the field. Farnoush Farnoush an expert financial professional who is passionate about women's empowerment, was our interview subject.

Are there any women in finance?

The U.S. is home to 57 percent of the population. Farnoush Farsiar But the country only has 24% of the financial jobs. The projected increase in women's participation will be 28% over the next ten, rising from 24% by 2021. However, this is much less than parity.

This isn't just a matter facing women. It's a major issue for the economy, according to Farnoush Farsiar. Farsiar noted that diverse leadership teams have better results than teams who have less perspectives. "So it's important that women are in these roles. It's also crucial for the nation."

There are many theories as to the reasons women aren't represented in the financial sector. One theory is that the industry of finance is very male-dominated, competitive and difficult for women to enter. Another theory is that parents and peers hinder women from entering career paths in finance.

Farsiar believes that the socialization of women from an early age is at the root of the problem. Women are taught to care for their children and to be accountable for their safety. "We are taught to be safe and to not take chances. This doesn't help an enviable career in the financial.

Farnoush Farsiar It's not just that women are conditioned to be caregivers; they're also socialized to be nice to people. "Women are indoctrinated to be courteous and avoid conflicts," Farsiar adds. "But, in finance you need to be able to advocate for your thoughts. It is crucial to have the ability to support your personal ideas.

Farsiar asks where are all the women in finance?
The absence of women in finance is particularly evident at the highest levels of the industry. According to a report by Pew Researchers just 10% are held by women in senior executive posts. https://www.privatebankerinternational.com/analysis/business-profile-plato-capital/ There are only 11.5% are women in the top boards of financial companies.

This disparity has real-world implications for women who work in finance. They are more likely not to get promoted than their male counterparts, and are also more likely to leave the industry altogether.

The good news is that the rise in women who hold high-level positions is not rapid but steady. Farnoush Farsiar believes part of this rise in women's senior roles is due the #womenshould campaign which raised awareness of the issue of diversity. Farsiar states that she's "convinced that the #MeToo movement has had a profound impact. Women are beginning to defend their rights and demanding change.

Financial barriers that prevent women from taking up finance careers
There are a number of barriers preventing women from getting into finance. A lack of role models is one of the biggest obstacles to women entering finance. Female financial professionals are usually the only ones in their respective departments, which could lead to isolation.

Farsiar said that it can be difficult to be the sole female present in the room. "You feel that you have to be flawless every time and you can't be a fool."

Another obstacle is another issue is the "old boys' club" mentality that is still common in many financial companies. This is the belief that men favor men over women, and women are not promoted.

Farsiar admits "There's lots of truth to that." "I have witnessed it firsthand. Men will encourage their male counterparts, even when the woman is better qualified.

This"old boys' club" mentality can lead to the harassment of women and discrimination. Female finance professionals are often subjected ostracizing comments and unwanted advances from male colleagues.

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

The final obstacle is the absence of flexible work arrangements. It is more common for women to take on family responsibilities such as caring of their parents, elderly parents, or children. Farnoush Farsiar Flexible working arrangements are necessary to allow them to keep a balance between work and family.

https://www.trackometrix.com/farnoush-farsiar-discusses-challenges-women-business-leaders-confront-4/ "Finance is a very challenging industry. It can be challenging to manage these demands with other obligations. Women often find themselves having to make a choice between family and work.

This makes it very difficult for women in the financial sector to attain high-ranking post. There are many initiatives to combat this problem.

Farnoush Farsiar Thinks There's a Positive Future for Women in Finance
There are good evidence to suggest that women will continue working in the financial sector. There have been numerous initiatives launched to boost the number of women and get to the highest levels of the financial sector.

One such initiative, Women Entrepreneurs Finance Initiative is a collaboration with the World Bank Group with 14 governments. We-Fi is an initiative to provide financing and support for women-owned businesses in emerging economies.

Farsiar said, "This is an excellent initiative since it gives women access to the resources they need to assist them in starting and expanding their business." "It will also assist in building networks and networks and also make connections with other women who have made it successful."

Farnoush Farsiar The Women in Finance Charter was another initiative that the U.K. government launched in the year of 2016. The Women in Finance Charter is a commitment by financial institutions to encourage gender diversity.

Farsiar says the Women in Finance Charter "is an incredible leap in the right direction." "It encourages financial institutions to take action in the direction of gender diversity, and is already creating a positive change."

Women are more likely to get promoted and have the opportunity to work in senior financial positions due to initiatives such as We-Fi. This is good news for both the financial and female sectors.



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