Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are breaking through the barriers to achieve great success across a variety of industries. However, the sad fact is that the proportion of women in finance remains astonishedly small. This is likely to remain the case for a while, however.

Deloitte insights reports that by 2030 only 31 percent will be female financial sector employees. This raises the obvious question: why are there such a low number of women working in finance. There are many theories there, but we wanted to hear from an expert on the subject. Farnoush Farnoush is a passionate finance professional and an advocate for women's empowerment.

How many women work in the field of finance?

In the U.S., 57 percent are female, yet they have only 24% of the financial posts. The number is projected to grow to 28% in the next 10 years and up from 24% in 2021--still way below parity..

This isn't a problem that is only affecting women. It's also a challenge in the business world, said Farnoush Farsiar. Farsiar asserted that leadership teams with differing perspectives are more effective than those without. "So it's essential that women are in these roles. It's also crucial for the country."

There are many theories that explain the reasons women aren't included in the field of financial services. One theory is that the financial industry is very male-dominated, competitive and challenging for women to enter. Another theory is that women are not motivated to pursue careers in finance either by their parents , or their peers.

Farsiar believes socialization of women at an early age is the cause of the issue. Farnoush Farsiar Women are raised to care for their children and to be accountable for their security. "We're taught to be safe and not to risk our lives. This isn't conducive to being a successful career financially.

Farnoush Farsiar Women are socialized to be caring for one another. Farsiar says that women are taught to be friendly and to avoid conflict. In finance, however you have to be able to speak for yourself. You should be able to speak up for your thoughts.

Farsiar asks: Where are the females in finance?
Women are disproportionately underrepresented in finance at the highest levels. Women hold just about only 10% of executive-level jobs, according to a 2016-2017 study by Pew Research. Women hold 11.5 percent of the financial company board seats.

This disparity has real-world implications for women who work in finance. Farnoush Farsiar This is due to the fact that women are less likely to get promoted than their male counterparts and are more likely not to stay in the field.

It is good to know that there's increasing numbers of women who are employed in higher positions. Farnoush Farsiar believes it is due in part to the #womenshould campaign, which has led to a more widespread awareness of the inequalities. Farsiar believes that #MeToo has had a profound influence in her personal life. Women are speaking up to demand change.

There are obstacles for women getting into finance
There are many barriers preventing women from getting into financial services. One of the largest issues is the lack of role models. Women working in finance are usually the only women in their department and can lead to isolation.

Farsiar explained that being the only woman in a room is very stressful. "You feel expected to be flawless at all times and that there should be no errors."

Another issue is "old boys' club", a mentality that is prevalent in many finance companies. This is the idea that men favor other men and women are not considered.

Farsiar acknowledges that there's much to this claim. "I've witnessed it firsthand. Farnoush Farsiar Men will encourage their male counterparts, even when they are better equipped.

This"old-boys' club" mentality can also result in discrimination and harassment of women. Women who are financially successful often face rude comments and unwelcome advances from their male counterparts.

"It's certain that it's a problem," Farnoush Farsiar exclaims. "Women in finance are typically treated as objects and it's very difficult to advance if you're treated that way."

The last issue is the absence of flexible working arrangements. It is more common for women to be able to handle household responsibilities, like taking care of parents who are elderly or children. This means that they require flexible work schedules to manage their work and home life.

"Finance is a very complex field, can be difficult to handle when you have other responsibilities. Women are often forced to choose between their career and family."

This makes it difficult for women to enter the financial sector and achieve the top posts. There are numerous initiatives underway to overcome this.

Farnoush Farsiar Thinks There's a bright future for women in Finance
There are many reasons to be hopeful about the future of women working in finance. There are many initiatives aiming to increase the number of women employed in the financial industry and help them achieve senior positions.

One of these initiatives is Women Entrepreneurs Finance Initiative (We-Fi) which is an alliance with the World Bank Group and 14 governments. We-Fi provides financial support and assistance to women-led enterprises in developing countries.

Farsiar declared, "This is an excellent initiative because it allows women access to resources that will help them start and grow their businesses." "It will also assist in building networks and networks and also connect with other women who have made it successful."

Another initiative is The Women in Finance Charter. This was launched by the U.K. government in 2016. Farnoush Farsiar The Women in Finance Charter promotes gender diversity.

Farsiar believes that "The Women in Finance Charter" is a huge step in the right direction. It encourages financial institutions as well as other companies to tackle gender diversity.

Women tend to be more likely to be promoted and are more likely to be employed in high-level financial positions thanks initiatives like We-Fi. This is good news for both the financial and female sectors.



Read More: https://www.crunchbase.com/person/farnoush-farsiar