Farnoush Farsiar, Why Are So Few Women in Finance

Women are increasingly breaking through barriers and experiencing huge success in a variety of sectors. Unfortunately, the shocking reality is that just a small percentage of women work in finance. But, unfortunately, this will not change so soon.

Deloitte Web Insights reports that just 31% of financial sector workers will be female by 2030. This begs a question: why are there a lack of women in the finance industry? There are many theories. We needed to hear from an expert. That's why we interviewed Farnoush Farsiar, an accomplished finance professional who is passionate about women's empowerment.

Are there any women in finance?

In the U.S., 57% are women, however, they have only 24% of the financial positions. This is expected to rise to 28% over the next 10 years, from 24% by 2021. However, it's still well below the average.

Farnoush Farsiar It's not an issue that is only affecting women. Farnoush Farsiar has said that it's also a major issue in the economy. Farsiar said that diverse leadership teams have more impact than teams who have fewer perspectives.  Farnoush Farsiar "So it's not just important that women are included in these fields, but it is also vital for the country as overall."

There are many reasons why women aren't included in the financial sector. One theory is that financial services are too male-dominated and competitive for females to enter into. Another theory states that careers in finance are discouraged from women by their peers or parents.

Farsiar believes that the socialization of women in their early years is at the root of the issue. "Women are taught at a young age that they must be risk-takers, not caregivers. "We're taught to not make risky decisions but to play it safe. This doesn't work for a career of finance.

It's not just about being taught how to care for the children. Women are also taught to cherish people.  Farnoush Farsiar Farsiar says that women are taught to be polite and to minimize conflict. "But in the world of finance it is crucial to be able and willing to speak up for yourself. It is essential to be able to defend your own ideas.

Farsiar: Where are all the finance women?
https://professionalparaplanner.co.uk/tag/advice-threat/ Particularly at the highest levels of finance and in the top positions of finance, the absence of women in finance ranks is alarming. According to a study conducted by Pew Researchers just 10% are held by women in senior executive posts. Only 11.5% are women in the top financial company boards.

This inequality has a direct impact on women working as finance professionals. Women are less likely to be promoted than their male counterparts. They're as well more likely to leave the industry entirely.

It's good to know that there's an increasing number of women working in senior positions. Farnoush Farsiar believes the reason for this increase is due to the #womenshould campaign which has raised awareness of the problem of diversity. Farsiar says she is convinced that the #MeToo movement also has had a significant impact. Women are beginning to voice their opinions and demand changes.

Obstacles for women pursuing finance
There are numerous obstacles that prevent women from entering financial services. The lack of role models for women is among of the most significant obstacles for women pursuing finance. Finance professionals are typically the only women in their department, which can be isolating.

"It can be really intimidating being the only woman in the room," Farsiar said. "It is like you are expected to be flawless every single day and you shouldn't make any errors."

Another obstacle is the "old guys"club" mentality that is prevalent in many financial firms. This refers to the notion that men promote other women, while women are excluded.

Farsiar admitsthat "There's lots of truth to that." "I experienced it myself. Men will be arousing to other men regardless of whether they are better equipped.

This old boys' club mentality can lead to harassment and discrimination. A lot of male colleagues in finance frequently make sexist remarks towards women, and also make inappropriate advances to.

"It's definitely an issue," Farnoush Farsiar exclaims. "Women working in finance are usually considered commodities, which makes it difficult for them to achieve success."

The other issue is the difficulty in finding flexible working arrangements. Family obligations are more prevalent for women than for males. This means that they require flexible work schedules to manage their work and home life.

"Finance is a stressful job. It can be difficult to balance other obligations. Women are often forced to choose between their work and family."

These obstacles make it very difficult to become an experienced financial professional in the senior level and to enter the field. There are numerous initiatives to combat this problem.

Farnoush Farsiar believes the Future is bright for women in Finance.
There are many positive reasons to believe in women's future in the field of finance. Many initiatives are working to increase the number of women working in the finance sector and help them reach senior positions.

Farnoush Farsiar Women Entrepreneurs Finance Initiative(We-Fi) is one of the initiatives. It's a partnership with World Bank Group and 14 countries. We-Fi offers financing and support for women-led businesses in developing countries.

"This is an excellent initiative since it gives women access to the resources they require to establish and grow their business," Farsiar said. "It will also assist in building networks and meet with women who are successful."

A different initiative is the Women in Finance Charter. The U.K. government launched it in the year 2016. The Women in Finance Charter aims to encourage gender diversity in financial institutions.

Farsiar hails "The Women in Finance Charter as a major step forward." "It encourages financial firms to adopt actions regarding gender diversity. It's making progress."

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