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Women are increasingly breaking down walls and finding great successes in a variety of industries. Unfortunately, only a few women work in finance. Farnoush Farsiar But, unfortunately, this will not see a significant change in the near future.

Deloitte Web Insights indicates that just 31% of financial sector workers will be female by 2030. Farnoush Farsiar It begs the question “Why there aren’t more women working in financial services?” Although there are many theories, we wanted learn the views of an expert. That’s why we interviewed Farnoush Farsiar an experienced finance professional who is a firm believer in women’s empowerment.

What percentage of women are working in finance?

In the U.S., 57 percent are female, yet they are held in only 24% of financial posts. The projected increase in women’s participation will be 28 percent over the next 10 years which is rising from 24% by 2021. However, this is way below parity.

It’s not just a problem faced by women. Farnoush Farsiar thinks it’s an issue that has an impact on the economy. Farsiar stated that diverse leadership teams are more effective than ones that have less perspectives. “So it’s critical that women are in these professions. This is also important for the country in general.

There are many theories as to why women aren’t more represented in the financial sector. One hypothesis is that the financial sector is dominated by men and competitive for women to enter. Another theory is that women are not advised to take up careers in finance, either by their parents , or their peers.

Farsiar believes that the source of issue lies in the way women are socialized young. “Women are taught at a young age to be caregivers rather than risk-takers. “We are taught to play safe and to not take chances. It’s not conducive to a career of finance.

It’s not just about being socialized to take care of the children. Women are also taught to be kind to people. Farsiar states that women are taught to be polite, reduce conflicts, and maintain their differences in check. “But in the world of finance, it is important to be prepared and willing to speak out for yourself. http://www.privatebankerinternational.com/analysis/business-profile-plato-capital/ You must be able to advocates for your own ideas.

Farsiar – Where is all the women in accounting and finance?

Particularly at the top of the financial industry, the lack of women working in finance is alarming. According to a study conducted by Pew Researchers just 10% are held by women in senior executive posts. Women hold 11.5 percent of the financial company board seats.

This imbalance has real-world impact on women working as financial professionals. This is because women are more likely not to get promoted than male counterparts and are more likely not to stay in the field.

The good news? Women are gradually, but steadily getting older. docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf Farnoush Farsiar believes that this is in part due to the #womenshould campaign which has brought about more awareness of the issue of diversity. Farsiar believes that #MeToo has had an amazing impact on her life. Women are now more vocal and insisting on changes.

Obstacles for women to enter Finance

Many obstacles hinder women from taking up finance careers. Lack of role models is one significant obstacle. Women in finance are often the only female employees in their field, which can prove to be lonely.

Farsiar admitted that it’s nerve-wracking to be the only woman present in the room. “You feel that you have to be flawless every time and that you aren’t allowed to be a fool.”

Another obstacle is the “old guys”club” mindset that exists in a lot of financial firms. This is the idea that men are better than women and men should promote each other.

Farsiar acknowledges “There’s plenty of truth in that.” “I have witnessed it personally. Men will be able to promote men, even if they are better qualified.”

This”old boys’ club” mentality can also lead to sexual harassment and discrimination. trungtamytehoavang.com.vn/question/farnoush-farsiar-discusses-how-women-business-leaders-face-the-challenges-3/ Financial women often receive insulting comments and unwelcome advances from their male colleagues.

Farnoush Farsiar declares “It’s certainly an issue.” “Women who work in finance are often treated as commodities, making it very difficult for them to achieve success.”

Inflexibility in working hours is another issue. Females are more likely be responsible for household chores than males for example, taking care of elderly parents or their children. They require flexible work schedules to be able to balance their home and work lives.

“Finance is a highly demanding business. It isn’t easy to keep up with the demands of your job with other obligations. Women are often forced to choose between their work or their family.

This makes it difficult for women to get into the finance industry and attain the top positions. There are a variety of initiatives to help change this.

Farnoush Farsiar is optimistic about the future of women in finance.

There is every reason to be optimistic about the future of women working in finance. There have been numerous initiatives launched to boost their numbers and get to the highest levels of the financial sector.

One such initiative is Women Entrepreneurs Finance Initiative, a partnership between 14 governments and the World Bank Group. We-Fi provides financial support and assistance to women-led businesses in the developing world.

Farsiar said, “This is an excellent initiative because it allows women access to resources that will help them start and grow their business.” twitter.com/BrexitCentral/status/1140499332128530432 “It will also assist them in building networks and network with other women who are successful.”

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

Farnoush Farsiar Farsiar believes the Women in Finance Charter represents a significant step forward. “It’s encouraging financial companies to act on gender diversity and is making a difference.”

Women in Finance Charter and We-Fi have helped more women reach high-ranking post. This is a good thing for females and the financial sector.