Farnoush Farsiar: Why are so few women in finance?

Women are breaking down walls and becoming powerful leaders in a variety of sectors. It is a sad fact that there are still very few women working in finance. https://www.privatebankerinternational.com/analysis/business-profile-plato-capital/ It may not change soon however.

Deloitte insight estimates that 31% of financial sector employees will be women by 2030. This raises the question of why there's not more women working in finance. Although there are many theories on why this is the case, we were looking for an opinion from someone who has worked in finance for a while. Farnoush Farnoush is a fervent finance professional and an advocate for women's empowerment.

How many women are employed in Finance?

The U.S. has 57 percent of the workforce is female however, there are just 24% of financial jobs. That's is projected to expand to 28% over the next ten years, up from 24% in 2021--still way below parity..

Diversity isn't only an issue for women. Farnoush Farsiar has said that it's also a problem in the economy. Farsiar said that teams with different styles of leadership perform better than those that have the same perspectives. "So it's not just vital that women are included in these positions, but it is also vital for the country as in general."

There are many theories on why women in the finance industry aren't represented. One hypothesis is that the financial sector is simply too male-dominated and competitive for women to break into. A different theory suggests that women aren't encouraged to take up careers in finance, either by their parents , or peers.

Farsiar believes the root issue lies in the manner in which women are socialized at a young age. "Women are taught at an early age that they should be risk-takers rather than caretakers. "We are taught to be safe and not to take risks. This doesn't work for an enviable career in the financial.

It's not enough for women to be socialized as caretakers. They're also taught to be people-pleasers. Farsiar states that women are taught to be friendly and to avoid conflicts. In finance, however it is essential to be able to speak for yourself. It is essential to be able support your own thoughts.

Farsiar asks: Where are the females working in finance?
The lack of women in finance is especially pronounced at the highest levels of the business. According to a study conducted in 2016-17 by Pew. Farnoush Farsiar A mere 11.5 percent of the board members in financial institutions are occupied by women.

This disparity has a real-world effect on women who work as financial professionals. They are more likely to be promoted than their male counterparts will be promoted, and are more likely to leave the field.

Good news is that women are steadily however, steadily, advancing in higher posts. Farnoush Farsiar believes part of this increase in women in senior roles is due the #womenshould movement which increased awareness about the importance of diversity. Farsiar believes that the #MeToo campaign has had an amazing influence in her personal life. Women are now more vocal and demanding changes.

Barriers to Women Getting into Finance
There are many obstacles that prevent women from getting into finance. https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf One of the biggest barriers is the absence of role models. Finance women often are the only female employees in their area and this can cause them to be lonely.

Farsiar acknowledged that it's daunting to be in a room that is only one woman. "You expect to be flawless in all situations and there should be no errors."

Another issue is another one is the "old boys' club" mentality that is still prevalent in many finance firms. This is the idea that men favor other men and women are left out.

Farsiar admits "there is some truth to that." "I have witnessed it in person. Farnoush Farsiar Men will encourage their male counterparts even if they are better equipped.

This"old boys' club" mentality can also result in discrimination and sexual harassment. Farnoush Farsiar Finance women are usually subject to unwelcome advances and demeaning comments from male colleagues.

Farnoush Farsiar says, "It is certain that it is a problem." "Women working in finance are usually treated just like objects. It's difficult to get noticed when women are treated that in that way."

The last obstacle is the inability to make flexible working arrangements. Women are more likely to have the responsibility of caring for parents who are elderly and children. This means that they require flexible work arrangements that allow them to balance their personal and professional lives.

"Finance is a very stressful profession, and it's not easy to manage the demands of your job when you're also juggling other obligations. Women are often forced to choose between work and family.

These obstacles make it difficult for women to gain entry into the financial industry and to hold high-level post. There are a myriad of initiatives to tackle this issue.

Farnoush Farsiar Thinks There's a bright future for women in Finance
There's every reason to believe in the future of women's careers in finance. A number of initiatives are taking place to boost women's involvement in the financial market and to support women in their quest for high-level roles.

One of these initiatives, Women Entrepreneurs Finance Initiative is a joint venture of the World Bank Group with 14 governments. We-Fi offers financing and support for women-owned enterprises in the emerging countries.

Farsiar said, "This is an excellent initiative because it allows women access to resources that will help them start and grow their business." "It also helps build networks and networks and also meet with women who have made it successful."

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

Farsiar claims that the Women in Finance Charter "is an amazing leap forward." "It will encourage financial institutions to take action in the direction of gender diversity, and is already creating a positive change."

Women are now able to take on senior positions through initiatives such as We-Fi as well as Women in Finance Charter. This is a great thing for women and the financial industry.