Diversity roles
I know Diversity roles are looked down on ( or up ) ,but the opportunity exists.
Background
I am Black ,Mid 20s,first degree was computer science (GPA 3.0/4.0) In a non target university andNigeria ,I am almost completing my masters by January at a a non target school (ranking about 200 on QS worldwide) in Digital finance and I expect my GPA to come out at 3.8-4.0/5.0.
I have experience but in the IT field (not relevant to Finance in Nigeria,UAE and USA all verifiable)
Going forward ,I am looking to break in to Investment banking
Anyone has ideas of companies that offer Diversity roles In London or Diversity roles with sponsorship in New York (internship or full time) for January till Summer
also would writing and passing the CFA(level 1 for now) help my chances
Thank you fellow monkeys :)
Edit feels like the only place being called a monkey isn't racist lmfao
literally every company in the world bro, make sure you definitely apply to GS and MS too
Thank you
Applied to Gs
would check MS this night
Hey there, fellow primate! Based on the most helpful WSO content, there are several firms that offer diversity roles in both London and New York.
For instance, Morgan Stanley has an Early Insights program that caters to URM/Female/LGBT/Veteran, Freshmen/Sophomores/Juniors. The deadlines vary by program.
Wells Fargo also has various programs that cater to URM/Female/LGBT/Veteran/Disability, Freshmen/Sophomores/Juniors. Again, the deadlines vary.
Barclays has a Junior Success Program which is a summer analyst program that caters to URM/Female/LGBT/Veteran/Disability, specifically for Juniors. The deadline is in Fall 2016.
Credit Suisse has a Doug Paul Scholarship Program which is a summer analyst program, with a scholarship of up to $15,000. This is specifically for URM, Sophomores. The deadline is in Fall 2016.
As for the CFA, it's a highly respected qualification in the finance industry. While it's not a guaranteed ticket into investment banking, it certainly could boost your chances by demonstrating your commitment and understanding of the field.
Remember, the key to breaking into investment banking is to network, network, network! Reach out to alumni, attend events, and don't be afraid to put yourself out there. Good luck!
Sources: Teller's Comprehensive Guide to Diversity Recruiting, 20 Most Frequently Asked Questions - London Edition, https://www.wallstreetoasis.com/forum/investment-banking/ending-diversity-programs-for-good-when-will-it-happen?customgpt=1, Which firms have the LEAST emphasis on Diversity (London)
.
Edit
finishing my masters with 3.8-4.0/4.0 not /5.0
There are no diversity roles, there are just perhaps diversity biases in recruitment.
That said bro, you should start getting realistic here. You have no relevant experience, 2 non-target schools with average GPA. Investment banking isn't happening. At least not immediately.
Yes I meant like diversity programs or bias in recruiting
Obviously there is nothing like black investment analyst role
Yes I am aware, I went to two non target schools
But I didn’t come here for pessimism
I came here asking for ways to maximise my chances at getting into investment banking
That said I’m willing to start at the bottom as long as a good paying career is guaranteed in finance
Thank you
No relevant experience – aim for department where CFA counts (assuming you DO pass); eg, asset management, PB, research
I would strongly recommend networking. If you talk to people at each firm, they can maybe help you out and/or get you in touch with HR and maybe refer you. If you network a TON you’ll have a decent chance
You are not getting into IB in the US/UK period if you are not a student in either of those countries (or at least attend a European school for UK roles). I’d look for different career opportunities at this point or look to do a MBA here in the US for a shot for an Associate role post graduation.
you are cooked buddy
all the best.
but unfortunately based on what i've seen, the diversity applicants are for sportsmen/sports women, children/contacts of friends of senior MDs/management, attractive women, or as a token hire. and most are from the Ivies and relatively above average or average in terms of wealth.
thank you..any pointers to which firms i can apply to
i would appreciate it
Someone didn’t get an offer
Yep
Don't listen to the pessimism bro more than possible. Target university is loose term in the UK. Try 1000 black interns they have got many black grads full time offers. Network, speak to recruiter, reach out to people on Linkedin. It wont be easy but will be easier considering your ethnicity and degree,
thank you very much
would try my best
Hey man, Black banker here (although African-American, not African)
I know you don't want pessimism but your current candidacy is not attractive at all, even in a bull market. Some thoughts below, take them as you wish:
1. CFA doesn't matter in IB, but it could help you in getting an adjacent position in AM and then you could possibly lateral to a IB role a few years down the line when the market is better. Unless you want to go back to school for a formal MBA, this is probably your best path.
2. You most likely wouldn't be competitive (or even eligible?) for diversity programs at the major banks regardless. I went through the diversity programs myself in undergrad and have also now seen resumes being on the other side. I've only seen MBAs for associate positions, never any Masters in Finance profiles for diverse candidates specifically (at least not any that made it to the actual internships). Even by diversity program standards, your profile is underwhelming. Like others mentioned, even diversity candidates still come from top schools with relevant experience for the most part.
3. Nonetheless, if you are insistent on trying to get IB now, I would specifically network with POC bankers (and Black in particular) across various banks. What I noticed when networking in undergrad was that POC bankers were generally more willing to take my call / message. Applying to a program without any connectivity is a waste of time frankly.
Good luck, and wish you the best man.
Fugiat ut incidunt eligendi nostrum nesciunt vel cumque. Magni est deserunt blanditiis sequi. Recusandae aut sunt laborum sit. Architecto et voluptatem deleniti veritatis enim.
Ut aliquid eos unde modi et magnam eius error. Fuga laboriosam incidunt nihil qui tenetur ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...