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Women are breaking down more barriers and enjoying great accomplishments in many fields. The sad reality is that very few women are working in finance. This may not change anytime soon however.

According to Deloitte Insights, in 2030 only 31 percent of employees in the financial sector will be female. It begs the question: why are so few women in financial services? There are numerous theories. But we wanted to hear from an expert. This is why we spoke with Farnoush Farsiar an accomplished financial professional who is passionate about women empowerment.

How many women are in the field of finance?

The U.S. employs 57 percent women, but only 24% of them hold financial jobs. It is expected that this figure will increase to 28% over the next 10 years, compared to 24 percent in 2021. However, they are far short of parity.

The lack of diversity isn’t only a problem for women. Farnoush Farsiar stated that diversity can be an issue for economic growth. “Diverse leaders have better results than those that don’t possess a wide variety of perspectives,” Farsiar said. “So it’s important that women are in these roles. This is also essential for the country.”

There are numerous theories that explain the reasons women aren’t included in the financial services industry. One theory suggests that the financial industry is too male-dominated, competitive and challenging for women to join. Another theory is that females aren’t encouraged by their parents to pursue finance careers.

Farsiar believes that women’s socialization at an early age is the source of the issue. “Women learn from an early age to become caregivers, not risk-takers. “We are taught to not risk our lives, but instead to be safe. Farnoush Farsiar And that’s just not conducive to a career in finance.”

It’s not just that women are conditioned to be caretakers and caregivers; they’re also taught to be pleasant to others. Farsiar claims that women are taught to be courteous and avoid conflict. “But in the world of finance it is essential to be prepared and willing to speak up for yourself. It is essential to be able to defend your own ideas.

Farsiar – Where are all of the women in the accounting and finance fields?

Particularly at the top of the financial industry there is a dearth of women in finance ranks is alarming. Women hold just about only 10% of executive-level jobs, according to a 2016-2017 study conducted by Pew Research. Women hold 11.5 percent of financial company board seats.

This is a real-world issue for women working in finance. It is because women are less likely to get promoted than their male counterparts, and are more likely not to stay in the field.

The good news is that the number of women in senior roles is slowly but surely increasing. Farnoush Farsiar believes that this is partly due to the #womenshould movement, which has led to more awareness of the absence of diversity. Farsiar believes that #MeToo has had a profound impact in her personal life. Women are beginning to get their voices heard and are demanding change.”

Obstacles for women pursuing finance

There are numerous obstacles which prevent women from pursuing careers in finance. A lack of role models is one major barrier. It is lonely for women working in finance, to be the only woman in their field.

Farsiar said that being the sole female in a room is extremely stressful. “You feel expected to be flawless every time and there can’t be any mistakes.”

Another barrier is the “old boys”club” mindset that persists in a lot of finance companies. This is a reference to the idea that men are the ones who promote women while women are not.

Farsiar admits that “there’s more than that,” he says. “I’ve witnessed it myself. Men will promote other men regardless of whether women are more skilled.”

This”old boys’ club” mentality can lead to the harassment of women and discrimination. Female finance professionals are often confronted with ostracizing remarks and unwelcome advances by male colleagues.

“It’s certain that it’s a problem,” Farnoush Farsiar exclaims. “Women in finance are typically considered to be objects and it’s very difficult to make it in the financial world when you’re treated this way.”

The final barrier is the inability to make flexible work schedules. Family responsibilities are more common among women than for males. They require flexible work schedules to manage their home and work.

“Finance is a very demanding business. Farnoush Farsiar It can be challenging to meet these demands when you have other responsibilities. Women often have to choose between their job as well as their family professions.

These barriers make it extremely difficult for women in the financial sector to attain high-ranking positions. However, there are a few initiatives that can in overcoming this.

Farnoush Farsiar believes the Future is Bright For Women in Finance.

There’s plenty of reason to believe in the future of women’s careers in finance. A number of initiatives are taking place to boost women’s participation in the financial market and to support women in their quest for higher-level positions.

One such initiative is the Women Entrepreneurs Finance Initiative (We-Fi) which is which is a collaboration between the World Bank Group and 14 governments. Farnoush Farsiar We-Fi assists women-led businesses in developing nations by providing financial assistance and support.

Farnoush Farsiar Farsiar said, “This initiative is great because it provides women with access to the tools they require to begin and grow businesses.” “It can also help them create networks and connect with other women who are successful.”

The Women in Finance Charter was another initiative that the U.K. government launched in the year 2016. The Women in Finance Charter is a pledge made by financial institutions to support gender diversity.

Farsiar believes the Women in Finance Charter represents a significant step forward. “It will encourage financial institutions to take actions on gender diversity and is making progress.”

Women are more likely to be promoted and have the opportunity to work in senior financial positions because of initiatives like We-Fi. Farnoush Farsiar This is a great thing for women as well as the financial sector.