Damn DEI fucked white people over and merit damn......
I'm looking at JPM's commercial banking division (previously mmbsi now cs&i) and their corporate banking (ccbsi levfin) and Investment banking divisions.... jesus the FO roles are filled with severe non-targets. and they still have the Fellowship (DEI) programs that straight feed and go into these analyst classes.
bro all the top colleges are getting shafted lmao...
Damn.........
When are we going to give up the whole DEI shit? It's there, it isn't a well constructed program, and advantages people from already privileged backgrounds rather than creating long lasting pipelines that work for everyone. So fucking what. That has existed for decades. That's the way the world works. Some people get an advantage due to stupid reasons. Get tf over it.
The only person responsible for your life is yourself. The moment you realize that, you can actually take control over what's going on. People are acting like these DEI programs are making recruiting absolutely terrible. Guess what? Kids in 2008 graduating into the financial crisis had it 10X worse than most any of us, yet they don't complain about that shit.
Also, you know absolutely nothing about these students in these spots. The instant assumption that a person is DEI from just viewing a Linkedin profile is insane. How do you know these people didn't hussle their asses off to get their seats? You don't.
This is just false. The reason less kids are going into IB now than previously is because they can go to better spots elsewhere. You can just look at the employment reports from top schools. Tech, buyside, quant firms, consulting. They all offer better WLB and oftentimes are just the places people would exit to anyways. And it's not like students at top schools aren't easily able to break in. The top 5 places Cornell business students go is JPM, GS, Citi, MS, and BOA. AFAIK, that's basically the best you can ask for. But many also choose now, more than ever, to go into management consulting, or tech PM, and why wouldn't you if you're a top student anyways? Tech PM pays the same as IB with way better hours, so the only reason to do IB is if you really want to. BTW, these stats hold out for almost every other top school. UPenn, Dartmouth, NU, Stanford, and basically every other top school. Going to even a semi target, you'll probably break in if you put in enough effort.
My point is back then ib was prestigious like big law. Now it's a regular job.
And for tech pm and consulting... Maybe consulting gained some prestige. Idk
Buyside is also being filled with non targets. A lot of no name schools have these jank pipelines that feed well.
You right though probs all the people going quant side. Reflection of school curriculum. Back then econ wasn't as quant as now. A lot more theories etc.
90%+ DEI = white women. Stfu and work hard. You have white privilege, your women absorb most of DEI spots and yet you still cry. Incompetent as usual. Grow a pair and say that white women have no place in DEI. No but your agenda is more racial than DEI.
Where exactly is that white privilege for someone without rich parents?
The whole ecosystem in and around Wall Street whether it’s senior management, regulators, govt and media projection is built to serve a white man. Nothing wrong with that as it is a white majority country though.
However, nobody tells you don’t look and sound like a banker or that you won’t be a good cultural / social fit. Never seen a white man get rejected for being culturally misfit at my BB.
Inevitably you are not the first one in your family to ever work in finance, or have some extended relative who went to an ivy and is familiar with finance clubs etc.
Never seen white men be the first ones to let go in layoffs. Always men of color and later on if they have to women are targeted.
Christmas Day and bro is looking at JPM's commercial banking class
holy sht, I just noticed when this was posted. That's actually wild.
Watched Fair Play on Netflix last night. This is exactly how a fake narrative is built. Trying to depict that a white woman is more intelligent and hardworking than all her male peers and anybody who questions this freeloading is dubbed a misogynist. A lot of those late night bar trips with super old / married D/MDs do end with Hawk Tuah depending on how bad she wants the promotion and how stiff the competition is.
In my decade in finance, the prime whiners on WLB are women. Prime beneficiaries of gender quotas are white women. Women are much more likely to get hired and promoted due to their gender and they are aware of it and exploit it. I have seen careers being sabotaged by white women purely out of spite. They don’t deserve an ounce of sympathy and instead bar should be higher for this subgroup after all the freeloading they have benefitted from in the past 20 years.
But their grandma was discriminated against in 1800 conveniently forgetting our 16 years old grandpas who were shipped off to fight world wars. The governments need female votes and are not motivated to eliminate gender quotas. It’s between young men who are being robbed vs. older white men at top (MD & above) who are performative males. Problem lies with white men at the top and their virtue signalling.
You’ve addressed why this is a problem for you (although it’s not clear that you would be successful in the absence of such initiatives if in fact they exist as you say they do). You’ve not addressed why this is an issue for the bank from an economic standpoint, in an industry where 5% of the people make 90% of the profit.
Nice try. Go back to entertaining your in-laws whom you despise else your wife will make you sleep on the couch this winter break.
We all know gender quotas exist and gender DEI KPIs are incorporated into MD/Line Manager comps. We got 2 VP spots, 3 men and 1 women are competing for them. HR will force us to drop two men even though in the absence of quotas they were better rated by MDs and the woman usually is a whiner and borderline competent with questionable work ethic. However, our femcel MD is on mission to collect DEI accolades and promote that woman and present her as a superstar. She makes guest appearances on top deals but with no real contribution or responsibilities except being a glorified coordinator.
It’s not like I have any great love (or dislike) for DEI programs. It’s that the arguments presented against them are awful, weirdly personalized with no appeal to the bottom line.
Prove it to us that having female quotas in the BoD, Management, and officer ranks is beneficial for the bottom line and you can’t use woke McKinsey studies where the success of largecap firms was incorrectly associated with female presence rather than macro / sector wide themes.
The whole point is I have no reason to prove anything to you in the individual or the abstract sense. If you want something to change, the burden is entirely on you to be convincing. The system works very well for me, it’s you that has a problem,
DEI bad. Now give me SB
Non velit nemo incidunt eos ipsa quis facilis. Assumenda inventore et iure tenetur.
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