Farnoush Farsiar discusses Why are There So Few Women In Finance?

Women are increasingly breaking down barriers and achieving great success in different industries. It is a sad fact that there are still very few women in finance. However, this is unlikely to be changing anytime soon.

According to Deloitte Insights, in 2030 the number of the employees of the financial sector will be female. It raises the one-of-a-kind question: Why are there so little women working in finance? There are numerous theories about why this is the case however, we were looking for an opinion from someone who's been working in the field for a long time. Farnoush Farnoush has been interviewed by us. She is a seasoned finance professional who is passionate for women empowerment.

How many women are employed in the field of finance?

In the U.S., women make up 57% of all workers However, they hold only 24 percent of the financial positions. This is expected to rise to 28% within the next 10 years from 24% by 2021. But, they're significantly below the national average.

The lack of diversity isn't just a problem for women. It's a major issue in the business world, said Farnoush Farsiar. Farsiar asserted that leadership teams with diverse viewpoints perform better than those without. "So it's crucial that there are females working in these fields. This is also important to the country as a whole.

There are a number of theories about the reason women aren't represented in the financial industry. One theory is that financial services are masculine and competitive for women to enter into. Another theory is that females are not encouraged by their families to pursue careers in finance.

Farsiar believes that the source of the issue lies in the way women are treated from a young age. "Women are taught from a young age that they need to be risk-takers, not caregivers. "We are taught to be safe and not to take risks. This isn't a good idea for a career of finance.

Farnoush Farsiar It's not only that women are socialized to take care of their children and caregivers; they're also taught to be pleasant to others. Farsiar claimed that women were taught to behave politely. "But in the world of finance it is essential to be prepared and willing to speak up for yourself. https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/ You have to be able to advocate for your ideas.

Farsiar asks , where are the females who work in finance?
It is particularly evident at the top level of finance, that there are not enough women. According to a survey conducted in 2016 and 2017 conducted by Pew, women hold just 10% of executive posts. Farnoush Farsiar Women have 11.5 percent of financial company board seats.

This imbalance has real-world implications for women in finance. This is why women are more likely than men to be promoted and are more likely to leave the finance industry.

It is good to know that women are slowly however, steadily, advancing in higher posts. Farnoush Farsiar believes that this is due in part to the ##womenshould campaign, which has brought about more awareness of the lack of diversity. Farsiar affirms that she believes that the #MeToo campaign has had a similar impact. Women are starting to speak up and demand changes.

Financial Access Barriers for Women
There are many obstacles that prevent women from entering the financial world. Lack of role models is one significant obstacle. It can be lonely for women in finance to be the sole female in their field.

Farsiar admitted that it can be nerve-wracking to be the only female present in the room. "It is like you are expected to be perfect every single day and that you shouldn't make any errors."

Another issue is the "old guys"club" mindset that exists in a lot of finance companies. Farnoush Farsiar This refers to the idea that men are the ones who promote men while women are not promoted.

Farsiar acknowledges that there's an element of truth to this assertion. "I've seen it happen myself. Men are always promoting women even when they are more experienced.

This"old boys' club" mentality can also result in discrimination and sexual harassment. Farnoush Farsiar Female finance professionals are frequently targeted for ostracizing remarks or unwanted advances by male colleagues.

Farnoush Farsiar declares "It's certainly an issue." "Women working in finance are typically treated like objects, and it's very hard to make it in the financial world when you're being treated like that."

The last issue is the absence of flexible work arrangements. Women tend to be more likely to have the responsibility of caring for parents who are elderly and children. To manage their family and professional lives, they will need flexible work arrangements.

"Finance can be a demanding job. It's difficult to balance other obligations. Women often have to choose between their career and family."

These obstacles make it difficult for women to get into the financial industry and to hold the top post. But, there are many initiatives that are working to overcome this.

Farnoush Farsiar Thinks There's a Bright Future for Women in Finance
There are plenty of evidence to suggest that women will continue to be employed in financial services. A variety of initiatives are in place to boost the number of women working in the finance sector and help them reach senior positions.

One such initiative is the Women Entrepreneurs Finance Initiative (WeFi) It is a partnership between the World Bank Group & 14 governments. We-Fi provides financial assistance and financing for women-owned enterprises in the developing countries.

Farsiar said that this was a fantastic initiative as it gives women the tools to develop and create their own business. It also helps them to create networks and connect with other women who have succeeded.

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

Farsiar believes the Women in Finance Charter represents an important step in the right direction. "It will encourage financial institutions to work on gender diversification, and is already creating a positive change."

https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ With initiatives like We-Fi as well as the Women in Finance Charter, women are more likely to be accepted into and hold senior positions. This is good news for females and the financial sector.