Notes

Farnoush Farsiar on Why are So Few Women in Finance?
Women are increasingly breaking down barriers and achieving great successes in a variety of sectors. However, the sad truth is that the majority of women are employed in finance. This isn't likely to change, unfortunately.

Deloitte insights reports that by 2030 only 31 percent of the workforce will be female financial sector employees. This raises the one-of-a-kind question: Why are the gender gap so low working in finance? There are several theories, we wanted learn the views of an expert. Farnoush Farnoush an accomplished finance professional who is passionately committed to women's empowerment was the reason we sat down with her.

Are there any women in finance?

The U.S. employs 57 percent women however just 24% have jobs in the financial sector. The number is projected to increase to 28% in the next ten year, from 24% by 2021. But, they're well below the average.

Diverseness isn't just a problem for women. Farnoush Farsiar Farnoush Farsiar stated that diversity is an issue for economic growth. "Diverse leaders have better results than ones that do not possess a wide variety of perspectives," Farsiar said. It's crucial that women be represented in these fields. However, it's also essential for the country.

There are many theories about why women aren't more represented in the financial sector. One hypothesis is that the industry is simply too male-dominated and competitive for women to break into. Another theory suggests that peers and parents do not encourage women to pursue career paths in finance.

Farsiar believes that women's exposure to socialization from a young time is at the source of the issue. Women are taught to care for their children and to be accountable for their security. "We are taught to stay safe and to not risk it all. This isn't the most effective method to pursue a career in finance.

Women are socialized to care for others. "Women are indoctrinated to be courteous and reduce conflicts," Farsiar adds. "But in finance you must be able to stand up for yourself. You must be able to and willing to advocate for yourself.

Farnoush Farsiar Farsiar - Where are all the women working in finance and accounting?
Women are underrepresented in finance at highest levels. Women hold just about only 10% of executive-level jobs as per a 2016-2017 study conducted by Pew Research. And they hold just 11.5 percent of the executive positions at financial companies.

This disparity has real-world implications for women in finance. This imbalance means that women are less likely than males to be promoted, and are more likely to leave the finance industry.

The good news is that women are steadily however, steadily, advancing in higher roles. Farnoush Farsiar believes part of the increase in women taking on senior roles is due the #womenshould campaign which raised awareness of the need for diversity. Farsiar said that she is "convinced" that the #MeToo movement also was a major influence. Women are speaking out more and calling for changes.

Women's financial access is a challenge for women.
Many obstacles hinder women from taking up finance careers. The lack of role models for women is one of the biggest obstacles to women entering finance. This makes it challenging for women working in finance to be the sole females in their department.

Farsiar acknowledged that it's scary to be the sole female present in the room. "You feel under pressure to be perfect and you must avoid making any mistakes.

Another issue is the "old guys' club" mentality that is prevalent in many finance companies. This is the belief that men favor women over other men, while women are excluded.

Farsiar admitsthat "There's plenty of truth in this." "I've witnessed this happen personally. Farnoush Farsiar Men will be arousing to other men, even when they are better equipped.

This old boys' club mentality can result in the harassment of women and discrimination. Female finance professionals are frequently confronted with ostracizing remarks and unwelcome advances by male colleagues.

"It's certain that it's a problem," Farnoush Farsiar exclaims. "Women who work in finance are usually treated like commodities, making it difficult for them to succeed."

Farnoush Farsiar The last obstacle is the absence of flexible working hours. Females are more likely to be responsible for family obligations than men, such as caring after elderly parents or children. These women need flexible working schedules to be able to manage work and family.

"Finance can be a very demanding job. It can be difficult to balance other obligations. A lot of women have to choose between their work or their family.

This makes it difficult for women to join the financial industry and reach the top posts. However, there are several initiatives that are working to overcome this.

https://lexcliq.com/how-can-wealth-management-firms-prepare-for-turbulent-times-farnoush-farsiar/ Farnoush Farsiar Thinks There's a Bright Future for Women in Finance
There's plenty of reason to believe in the future of women working in finance. Numerous initiatives have been undertaken to boost the number of women employed in finance and assist them in reaching senior positions.

One of these initiatives, Women Entrepreneurs Finance Initiative is a collaboration with the World Bank Group with 14 governments. We-Fi provides financial assistance and financing for women-owned enterprises in the developing countries.

Farsiar stated, "This program is a excellent one as it provides women access and the resources to begin and expand their businesses." It allows them to build networks and network with other female entrepreneurs.

Another initiative is the Women in Finance Charter, that was launched by the U.K. government launched in 2016. Financial firms have committed to gender diversity through the Women in Finance Charter.

Farsiar lauds "The Women in Finance Charter as a significant step in the right direction." "It encourages financial institutions to take action regarding gender diversity and is creating a positive change."

Women are now able to enter senior positions through initiatives such as We-Fi and Women in Finance Charter. This is good news for women and the financial industry.



Website: https://www.highlandcountychamber.com/farnoush-farsiar-why-are-there-so-few-women-in-finance/