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Farnoush Farsiar - Why are women so scarce in finance?
Women are breaking through barriers and achieving great success in different industries. The sad reality though is that the number of women in finance remains shockingly low. However, this is unlikely to be changing anytime soon.

According to Deloitte Insights, in 2030, only 31 percent of employees in the financial sector will be female. This raises the one-of-a-kind question: Why are the gender gap so low working in finance? There are many theories. We wanted to learn more from an expert. Farnoush Farnoush is a committed finance professional and an advocate for women's empowerment.

What percentage of women are working in finance?

The U.S. has 57 percent of the workforce is female but just 24% financial jobs. The number is projected to grow to 28% over the next 10 years and up from 24% in 2021 but far short of parity..

Diversity isn't just an issue for women. Farnoush Farsiar Farnoush Farsiar stated that diversity is a problem for economic growth. Farsiar asserted that teams of leaders with differing perspectives are more effective than those who don't. "So it's not just crucial to have women represented in these positions, but it is also crucial for the country as in general."

There are many theories as to why women aren't more represented in the finance industry. One theory is that the financial sector is dominated by men and competitive for women to make it into. Farnoush Farsiar Another theory suggests that parents and peers do not encourage women to pursue finance careers.

Farsiar believes that the root of the issue is how women are socialized from an early age. "Women begin at an early age to be caregivers, not risk-takers. Farnoush Farsiar "We are taught to be safe and not take chances. This isn't the most effective way to go about an investment career.

It's more than just being socialized to look after the children. Women also learn to love people. Farsiar says that women are taught to be friendly and to avoid conflicts. But in finance you have to be able to be able to speak for yourself. You should be able and willing to stand up for yourself.

Farsiar asks where are the females employed in finance?
The absence of women in finance is particularly evident at the highest levels of the business. Women are only about 10% of the executive positions, according to a 2016-2017 study by Pew Research. In addition, they only hold 11.5 percent of the executive positions at financial companies.

This disparity has real-world consequences on women who work in finance. This imbalance means that women are more likely than males to be promoted, and are more likely to leave the finance industry.

Good news is that women are steadily increasing their positions in senior roles. Farnoush Farsiar believes this partly because of the #womenshould campaign that has raised awareness about the absence of diversity. Farsiar states that she believes that the #MeToo campaign had an extraordinary impact. Women are now more vocal and demanding change.

Financial Access Barriers for Women
There are many barriers which prevent women from pursuing careers in finance. A lack of role models is one of the biggest hurdles. Female financial professionals are usually the only ones in their department, which can lead to isolation.

Farsiar admitted that it's a bit daunting to be the only female present in the room. "It feels like you have to be perfect every time, and you shouldn't commit any mistakes."

Another obstacle is the "old guys"club" mindset that exists in a lot of finance companies. This is the belief in that men are the ones who encourage females and men are not allowed to join.

Farsiar admitsthat "There's a lot truth to that." "I've seen it happen myself. Men will be promoted by men, even if they are more competent.

This"old-boys' club" mentality can lead to harassment and discrimination. Finance women are often confronted with unwelcome advances and demeaning comments from their male counterparts.

Farnoush Farsiar says, "It is definitely an issue." Farnoush Farsiar "Women in finance are often considered objects and it's very hard to get ahead when you're being treated this way."

Then, there is the issue of inflexible working arrangements. It is more typical for women to be able to handle household responsibilities, like taking care of elderly parents or children. They require flexible work schedules to manage their home and work lives.

"Finance is a very demanding sector. Farnoush Farsiar It can be difficult to meet these demands with other obligations. A lot of women have to choose between their career or their family.

This makes it very difficult for women working in the finance industry to achieve the top post. There are numerous initiatives underway to overcome this.

Farnoush Farsiar Thinks There's a Positive Future for Women in Finance
There are many reasons to be hopeful about the future financial industry. Many initiatives are working to increase the proportion of women working in the finance industry and assist them in achieving senior positions.

One such initiative is the Women Entrepreneurs Finance Initiative (WeFi), which is a partnership between the World Bank Group & 14 governments. We-Fi provides financing and support to women-owned companies in developing countries.

Farsiar said that this is a wonderful initiative, as it gives women the tools needed to expand and begin their own businesses. It also helps them build networks and connect with other women entrepreneurs.

Another initiative is The Women in Finance Charter. It was announced by the U.K. government in 2016. The Women in Finance Charter represents a commitment made by financial firms to encourage gender diversity.

"The Women in Finance Charter is a significant step in the right direction," Farsiar encourages. "It encourages financial institutions to work on gender diversification, and it is creating a positive change."

Through initiatives such as We-Fi as well as the Women in Finance Charter, women are more likely to be accepted into and take on senior roles. This is good news for both women and the financial industry.



Read More: https://www.anochords.org/farnoush-farsiar-discusses-how-women-business-leaders-are-tackling-the-difficulties/