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

Women are breaking through the barriers to achieve great success across a variety of industries. However, the sad truth is that only a tiny percent of women work in finance. This is a sad fact that won't change any time soon.

Deloitte's insights states that by 2030 only 31 percent of the workforce will be female financial sector employees. The question is: why are so few women in finance? There are numerous theories about why this is the case but we were looking for an opinion from someone who has worked in finance for some time. Farnoush Farnoush has been interviewed by us. Farnoush Farsiar She is an experienced finance professional who has a passion for women's empowerment.

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

The U.S. is home to 57% of the workforce. But, they only hold 24% of the financial jobs. https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 This figure is expected to rise to 28% within the next ten to 20 years increasing from the current 24.

This isn't a problem that is only affecting women. Farnoush Farsiar believes it's also a problem to the economy. Farsiar stated that diverse leadership teams are more effective than ones that have less perspectives. "So it's essential that women are in these roles. It's also important for the country."

There are many theories that explain why women aren't represented in the financial industry. One theory suggests that the financial industry is highly male-dominated and competitive, making it challenging for women to get into. Another theory is that women are not advised to pursue careers in finance whether by their parents or their peers.

Farsiar believes the source of the issue is the way women are treated from an early age. "Women are socialized at a young age to be caretakers rather than risk-takers. "We're taught to be safe and not to take risks. This isn't a good way to go to a career in finance."

Women are educated not just to care for others however, they also have to please people. Farsiar claimed women were taught to be courteous. But in finance, you must be able be able to speak for yourself. You have to be able to defend your ideas."

Farsiar asks where are all the women in finance?

It is particularly evident at the top level of finance, that there aren't enough women. According to a report by Pew Researchers, only 10% are held by women in senior executive post. Only 11.5% are women in the top financial boards.

This disparity can have real-world effects on women in finance. Females are more likely in finance to be promoted than their male counterparts.

The good news is that the rise in women who hold the top positions is slow but steady. Farnoush Farsiar believes this partly due to the #womenshould movement which has brought awareness to the lack of diversity. Farsiar claims that she is convinced that the #MeToo campaign also had an extraordinary impact. Women are now more vocal and demanding change.

The obstacles women face when trying to get into the world of finance

There are many obstacles which prevent women from pursuing careers in the world of finance. Lack of role models is among the significant obstacle. This can make it hard for women in finance to become the only female in their respective departments.

Farsiar acknowledged that it's daunting to be in a room that is only one person. "You feel like you're expected to be perfect all of every moment, and that you're not allowed to commit any errors."

Another obstacle is another one is the "old guys"club" mindset that exists in a lot of finance businesses. It is a belief that men are superior to women, and that men should be promoting each other.

Farsiar acknowledges that "there's a lot more real," he says. "I have witnessed it firsthand. Farnoush Farsiar Even if the woman is a better candidate, even if she has more qualifications, men will still promote other people.

This"old-boys' club" mentality may also lead to discrimination and sexual harassment. Female finance professionals are frequently subjected ostracizing comments and unwanted advances from male colleagues.

Farnoush Farsiar declares "It's certainly an issue." "Women working in finance are often treated just like objects. It can be difficult to get noticed when women are treated that in that way."

Lack of flexibility in working schedules is another obstacle. Family obligations are more frequent for women than males. This means that they require flexible working arrangements to balance their home and work lives.

"Finance is a highly demanding industry, and it's hard to keep up with the demands with other obligations. Women often are forced to choose between work and family.

These obstacles make it extremely difficult for women to enter the financial sector and achieve high-level positions. There are however some initiatives that can help in overcoming this.

Farnoush Farsiar believes the Future is bright for women in Finance

There are plenty of evidence to suggest that women will continue to work in financial services. There are a variety of initiatives being taken to increase women's participation in the finance market, and to help women in their quest for high-level roles.

Women Entrepreneurs Finance Initiative(We-Fi) is one of these initiatives. It's a collaboration between World Bank Group and 14 countries. We-Fi is an investment and support program specifically designed for women-led companies in developing economies.

Farsiar stated, "This program is a fantastic one since it provides women access and the resources to start and grow their businesses." "It also helps build networks and networks and also connect with other women who have made it successful."

Another initiative is the Women in Finance Charter, which the U.K. government launched in 2016. The Women in Finance Charter is a pledge by financial firms to promote gender diversity.

Farsiar believes to "The Women in Finance Charter" is a significant step in the right direction. "It is encouraging financial institutions to take action regarding gender diversity and is already making a difference."

Farnoush Farsiar Through initiatives such as We-Fi and the Women in Finance Charter, more women get to enter and take on senior roles. This is a good thing for women and the financial industry.