Farnoush Farsiar, Why Are So Few Women in Finance Women are increasingly breaking down barriers and achieving amazing success in many sectors. https://professionalparaplanner.co.uk/tag/advice-threat/ However, the sad reality is but women are a minority of finance professionals. This is a sad fact that won''t be changing anytime soon.

According to Deloitte Insights In 2030, only 31 percent of financial sector employees will be female. This raises the issue of why there aren''t more women employed in finance. There are numerous theories about why this is however, we would like to hear from someone who''s worked in finance for a long time. Farnoush Farnoush an expert finance professional passionate about women empowerment was our interviewee.

Farnoush Farsiar Are there women working in finance?

In the U.S., women make up 57% of all workers, but they have only 24% of financial jobs. The projected increase in women''s participation will be 28% over the next ten which is up from 24% for 2021. This is still far short of the parity.

Diverseness isn''t just a problem for women. Farnoush Farsiar claims it''s an issue for the economy. Farsiar noted that leadership teams with diverse perspectives perform better compared to those with fewer perspectives. "So it''s not just important for women to be involved in these fields but also for the country as a whole."

There are several theories on the reason women aren''t represented in the finance industry. One theory is that the financial industry is highly male-dominated and competitive, making it challenging for women to get into. Another theory states that financial careers are discouraged from women by their peers or parents.

Farsiar believes the root cause of the issue is how women are viewed at a young age. "Women begin at an early age to be caregivers, not risk-takers. "We''re taught to play it safe, not to take risks. This isn''t a good way to go about a career as an analyst of financials.

It''s not only that women are conditioned to be caretakers; they''re also socialized to be pleasant to others. Farsiar states that women are indoctrinated as friendly and to avoid conflict. "But in finance it is essential to be able and willing to speak out for yourself. Farnoush Farsiar Farnoush Farsiar It is important to be able to defend your own ideas.

Farsiar - Where is all of the women working in accounting and finance?
Particularly at the highest levels of finance, the lack of women working in finance is alarming. According to a 2016-2017 survey by Pew the women in finance hold only 10% of the executive-level posts. Women are the holders of 11.5% of financial firm board seats.

This can have real-world effects on women in finance. Women are less likely that their male counterparts are promoted, and they''re also more likely to leave the profession.

The best part is that the increase in women holding the top positions is slow but steady. Farnoush Farsiar believes that this is partly due to the #womenshould campaign that has resulted in an increased awareness of the absence of diversity. Farsiar believes that #MeToo has had an amazing influence in her personal life. Women are speaking out to make a difference.

Women''s financial access is a challenge for women.
There are numerous obstacles that hinder women from advancing into financial services. Lack of role models is among the major barrier. Women working in finance are usually the only woman within their field and this can make them feel isolated.

Farsiar stated that it''s difficult to be the sole female in the room. "It is like you are expected to be flawless every single day and that you shouldn''t make any mistakes."

Another issue is the "old boys'' club" mindset that''s still prevalent in many finance companies. This is the belief that men favor women over other men, while women are excluded.

"There''s a lot of truth to that," Farsiar admits. "I''ve witnessed this happen in person. Even if the woman is a better candidate, even if she has higher qualifications, men will still encourage others.

This"old-boys'' club" mentality can also result in discrimination and harassment of women. Women in the financial sector often get rude remarks and unwelcome advances made by their male colleagues.

Farnoush Farsiar declares "It''s certainly an issue." "Women in finance are often treated as objects and it''s very difficult to make it in the financial world in a world where you''re treated as a commodity."

Farnoush Farsiar The last obstacle is the absence of flexible work schedules. Women are more likely to have household responsibilities, such as taking care of elderly parents or children. They require flexible work schedules to be able to balance their home and work.

"Finance can be a demanding job. It can be difficult to balance other responsibilities. Women frequently have to pick between their careers and family.

Farnoush Farsiar These obstacles make it very difficult to be 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 evidence to suggest that women will continue working in financial services. There are a variety of initiatives being implemented to boost women''s involvement in the financial market and to support women as they pursue higher-level positions.

One of these initiatives is the Women Entrepreneurs Finance Initiative (We-Fi) It is an alliance with the World Bank Group and 14 governments. We-Fi assists women-led businesses in the developing world by providing financing and support.

Farsiar said, "This is an excellent initiative because it allows women access to resources that will aid them in starting and growing their businesses." It helps them create networks and connect with other women entrepreneurs.

A different initiative is the Women in Finance Charter, which was launched by the U.K. government launched in the year 2016. The Women in Finance Charter encourages gender diversity.

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

Women are now able to enter the top positions in organizations such as We-Fi as well as Women in Finance Charter. This is a great thing for women as well as the financial industry.