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Farnoush Farsiar discusses Why are There So Few Women In Finance?
Women are increasingly breaking through barriers and achieving huge success in a variety of sectors. Farnoush Farsiar However, the sad reality is however, that women still only make up a tiny percentage of financial professionals. It is unlikely that this trend will change anytime soon.

Deloitte's insights states that by 2030 only 31 percent of the workforce will be female financial sector employees. This raises the question of why there's not more women employed in finance. Although there are many theories, we wanted to learn the views of an expert. Farnoush Farnoush an expert finance professional , who is passionate about women's empowerment was our interviewee.

How many women work in finance?

The U.S. is home to 57% of the workforce. But the country only has 24% of financial work. This is expected to rise to 28% in the next 10 years, from 24% by 2021. However, this is well below the average.

It's not only a problem faced by women. Farnoush Farsiar believes it's also an issue that has an impact on the economy. Farnoush Farsiar Farsiar pointed out that teams that have diverse leadership styles perform better compared to those who have less perspectives. "So it's crucial to have females working in these fields. It's also crucial to the country as a whole.

There are a myriad of theories as to why women in the finance sector aren't as well represented. One theory is that financial services are too male-dominated and highly competitive for females to be into. Another theory is that women aren't encouraged by their families to pursue careers in finance.

Farsiar believes that the root issue lies in the ways women are socialized in their youth. "Women are taught from a young age that they need to be risk-takers, not caregivers. "We're taught to play safe, not to take risks. Farnoush Farsiar This isn't a good way to go about an occupation as an analyst of financials.

Women are taught to be caring for one another. Farsiar stated that women were taught to be polite. "But in the field of finance you must be capable of standing up for yourself. It is crucial to be able support your own ideas.

Farnoush Farsiar Farsiar - Where is all the women working in finance and accounting?
Women are particularly underrepresented in finance, particularly at the most senior levels. According to a research study from 2016-17 by Pew. Farnoush Farsiar Women have 11.5 percent of the financial company board seats.

This imbalance has real-world implications for women working in finance. Females are more likely in finance to be promoted than male counterparts.

It is good to know that there's increasing numbers of women who are employed in higher positions. Farnoush Farsiar believes the reason for this rise is because of the #womenshould movement which has raised awareness about the lack of diversity. https://www.tumgir.com/farnoush-farsiar8dddbb11 Farsiar states she's "convinced that the #MeToo campaign also had an incredible impact. Women are now beginning to assert their rights and demand change.

There are hurdles for women being able to enter finance
There are a number of barriers preventing women from getting into financial services. Lack of role models is among the major barrier. Farnoush Farsiar It is lonely for women working in finance, to be the only woman in their field.

"It is really scary to be the sole woman in the room," Farsiar said. "You think you need to be flawless every time and you can't be a fool."

Another obstacle is the "old boys' club" mentality that still exists in a lot of finance companies. This is the idea that men are more favourable to other men, and women are not considered.

"There's a lot of truth in it," Farsiar admits. "I experienced it myself. Even if the woman is a better candidate, even if she has greater qualifications, men will still recommend other people.

This"old-boys' club" mentality can lead to discrimination and harassment of women. Financial women often receive insulting remarks and unwelcome advances by their male counterparts.

Farnoush Farsiar says, "It is definitely an issue." "Women working in finance are typically treated like objects, and it's very difficult to succeed when being treated that way."

The last obstacle is the lack of flexible working hours. It is more common for women to assume family responsibilities such as caring of their parents, elderly parents, or children. Women need flexible work arrangements to allow them to balance work and family.

"Finance is a very stressful industry, and it's hard to meet those demands when you're also juggling other obligations. https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ Women are often having to make a choice between family and work.

This makes obtaining high-level posts in the financial services industry very difficult for females. There are many initiatives that are being implemented to address this.

Farnoush Farsiar is optimistic about the future of women in finance.
There's plenty of reason to believe in the future of women in finance. Many initiatives are aiming to increase the number of women in the financial industry and to assist them in achieving senior positions.

Women Entrepreneurs Finance Initiative(We-Fi) is one of these initiatives. It's a partnership between World Bank Group and 14 countries. We-Fi provides financial support and assistance to women-led businesses in the developing world.

"This is an excellent initiative since it gives women access to the resources they require to begin and expand their companies," Farsiar said. "It also helps women build networks and connect with other successful women."

A different initiative is the Women in Finance Charter. The U.K. government launched it in the year 2016. Financial firms have committed to gender diversity through the Women in Finance Charter.

"The Women in Finance Charter is a great step forward," Farsiar encourages. "It is encouraging financial companies to make changes to improve gender diversity and is making strides."

Women are now able to take on high-level positions thanks to initiatives like We-Fi as well as Women in Finance Charter. This is great news for both the financial and women sectors.



Read More: https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times