The article challenges the stereotype of Wall Street workers as exclusively white, male, and elite by revealing that front-office employees at major banks are actually less white than the general public and equally gender-diverse. It highlights the difficulties aspiring investment bankers face in gaining entry to the industry, noting the pressure to secure internships and the growing insularity of recruitment practices. The analysis draws on various data sources, including Equal Employment Opportunity Commission disclosures, to assess educational backgrounds and diversity progress within four prominent banks.
Stereotypes of Wall Street workers often misrepresent the actual diversity of the industry, with front-office employees being less white than the general population.
The recruiting pipeline for Wall Street is becoming increasingly narrow, prioritizing those connected to the finance industry early in their academic careers.
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