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

Women are breaking down more barriers and enjoying great successes in a variety of areas. The sad reality is that the majority of women are employed in finance. Unfortunately, this may not be changing anytime soon.

Deloitte Web Insights reports that only 31 percent of workers in the financial industry will be female by 2030. It begs the question what is the reason there aren't more women working in the finance industry? There are many theories there but we wanted get an opinion from an expert on the matter. Farnoush Farnoush an accomplished finance professional who is devoted to women's empowerment was the reason we interviewed her.

https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ How many women are employed in Finance?

In the U.S., women make up 57 percent of all workers, but they hold just 24% of financial jobs. The projected increase in women's participation is 28 percent over the next 10 years which is up from 24% for 2021. It's still far short of parity.

It's not an issue that is only affecting women. Farnoush Farsiar is of the opinion that it's a problem that affects the economy. "Diverse leadership teams are more effective than those that don't offer a broad spectrum of opinions," Farsiar said. "So it's important that women are included in these positions. It's also crucial for the country."

There are many theories about how women working in the financial industry aren't as well represented. One theory suggests that the financial market is too competitive and male-dominated for women to make it into. Another theory is that parents and their peers hinder women from entering financial careers.

Farsiar believes that women's socialization at a young time is at the root of this problem. "Women are taught from a young age to be caretakers rather than risk-takers. "We are taught not to make a risk, but rather to play it safe. This isn't a good idea for the field of finance.

Women are socialized to be caring for one another. Farsiar stated women were taught to behave politely. "But, in finance you must be able to advocate for your thoughts. You must be able and willing to advocate for yourself.

Farsiar Asks Where are all the women in finance?
Women are underrepresented in finance at most senior levels. According to a study conducted between 2016 and 2017 by Pew, women hold only 10% of the executive-level post. Only 11.5 percent of women sit on the top boards of financial companies.

This disparity has real-world implications for women who work in finance. They are more likely than their male counterparts will be promoted and they are also more likely to leave the field.

The good news is that the increase in women holding senior positions is slow but steady. Farnoush Farsiar believes part of this increase in women in senior positions is due to the #womenshould campaign which raised awareness of the need for diversity. Farsiar claims that she is certain that the #MeToo campaign also had an extraordinary impact. Women are speaking out to make a difference.

Women who pursue finance face obstacles
There are numerous hurdles women have to overcome in order to be successful in finance. A lack of role models is one major barrier. Women working in finance are usually the only woman in their job and can lead to isolation.

Farsiar stated that it can be intimidating to be the only female present in the room. "You are expected to be flawless at all times and that there must be no mistakes."

Another obstacle is "old boys"club" A mindset that prevails in a lot of finance companies. This is the belief that men are the ones who promote women and women are left out.

Farsiar acknowledges "there is plenty of truth in that." "I've seen it happen firsthand. Even if the woman is a better candidate, even if she has higher qualifications, men still encourage others.

This"old boys' club" attitude can lead to discrimination and harassment of women. Women in finance are frequently confronted with unwelcome advances and demeaning comments from their male counterparts.

Farnoush Farsiar says, "It is definitely an issue." "Women who work in finance are usually treated like commodities, making it extremely difficult for them to be successful."

Farnoush Farsiar The final barrier is the inability to make flexible working hours. It is more typical for women to take on the responsibilities of a family, such as taking care of parents who are elderly or children. They require flexible working arrangements to balance their work and home life.

"Finance is a complicated business, is difficult to handle when you have additional responsibilities. Women often find themselves having to make a choice between family and work.

These obstacles make it difficult for women to gain entry into the financial sector and hold senior post. Farnoush Farsiar Farnoush Farsiar There are however some initiatives that can help in overcoming this.

Farnoush Farsiar believes the Future is Bright For Women in Finance
There are many reasons to be optimistic regarding the future of the financial sector. There are many initiatives designed to increase the number of women working in the finance sector and assist them in achieving senior posts.

One example of such an initiative is Women Entrepreneurs Finance Initiative which is a partnership of 14 governments as well as the World Bank Group. https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ We-Fi offers financial assistance and financing to women-owned companies in emerging countries.

Farsiar stated, "This program is a fantastic one since it provides women access to resources and opportunities to begin and expand their businesses." "It will also assist in building networks, and make connections with other women who have made it successful."

The Women in Finance Charter was another initiative that the U.K. government launched in the year of 2016. The Women in Finance Charter is a commitment of companies in the financial sector to promote gender diversity.

"The Women in Finance Charter is a significant step in the right direction," Farsiar encourages. "It encourages financial firms to take actions on gender diversity, it's making strides."

With initiatives like We-Fi as well as the Women in Finance Charter, more women get to enter and take on senior roles. This is good news for women and for the financial industry.