Will Being Transgender (MTF) Affect My Chances in IB Recruiting?
Hey everyone,
I’m a first-year at a high semi-target in the UK, working towards breaking into investment banking. I’m also transgender (MTF) and have been transitioning for about two years (hormones, etc), but I’m not really out, I haven’t changed my name, and I don’t openly tell people. That said, it’s probably somewhat obvious.
I know there aren’t many trans people in IB. I personally only know of two or three, and only one of them is in a front-office role and they all transitioned later in their careers. This makes me wonder if being visibly trans early on could work against me, especially during networking, applications, and interviews. IB is a competitive industry where fit and perception matter, so I’m not sure if this would be something that holds me back.
I’d really appreciate any honest insights or experiences from people in the industry.
Thanks.
No one at my BB is trans — but one of the best corporate lawyers I know is trans and she’s an absolute beast
Nobody cares; just put work into networking and be personable. For interviews, know your technicals down cold, and make sure you are as strong of a candidate as possible. Don't worry about things that you can't control, like how others view your decision; just seek to always improve yourself and improve on whatever you believe you can control.
Also of note, although not a member of the LGBTQ+ community, most large banks have community groups for that and also have diversity initiatives to support that. If anything, you will benefit from it!
Eh people definitely care, even if they say they don't.
ED in IB obviously has considerably more experience than me, but his advice seems quite poor.
The idea that “nobody cares” simply isn’t true for most Analysts/Associates (the people that you’ll primarily be networking with / who gatekeep the process).
Like many others in our generation, my view of most analysts/associates that I’ve interacted with is that they don’t really like trans people (or care about “trans issues”).
While very few people will hate you outright, many will undoubtedly find a way to hold it against you (even if it’s subconsciously) while making what are, ultimately, very subjective decisions.
If you want honest advice, do whatever it takes to hide the fact that you are trans in the process, even if it means “taking up” your old identity again while you’re in the process.
May be unpopular to admit, but absolutely is the truth.
All that said, I do feel quite a bit of sympathy for those in your position. If you want personal/specific advice, feel free to comment under your username and I’ll DM/help wherever I can.
A lot of banks have LGBTQ+ recruitment programs and also employee groups within the firm (or at least the ones in my country)
I learned pretty quick that people may pass initial judgments about literally anything (ie. the discussions on this forum about being being hot/tall/bald/overweight) but all of that doesn't matter if you're good at the work and make your supervisors life easier.
With that being said, there are sad people I'm every industry with hateful views on people, so there might be some issues with individual interviewers reactions/judgments, which I wish I had a solution for.
Study hard, build a network, and grind until you run circles around all the other interns/analysts. Just because there aren't many trans people in banking, doesn't mean you shouldn't try to change that!!
Best of luck with recruiting
Apply to O4U (out for undergrad) business conference! It's a ~200-person conference and provides a network of LGBT professionals that can help you get into more processes, introduce you to people where "fit" won't be an issue, and talk through their experiences recruiting.
Regarding your concerns - totally get the fit stuff and agree it could hurt you if talking to the wrong person, especially in a traditional career like banking. People make snap judgments, so I would just be mindful. Might have to cast a wider net than others
my view is your outcomes will be highly polarised. If trans thing aside, you would successfully recruit into IB, my view is that some teams would love that you are trans, interesting, add diversity etc - I have worked on teams where the people unironically aim to push women, LGBT etc up the ladder.
I have also worked in teams where people make openly homophobic comments about atypical people and say stuff like: bro why are you acting like a fag? etc.
If you're passable as a woman, I'd honestly try to fully transition (name included etc) asap as this will make corporate life much easier for you both recruiting, and once you're in.
So I think if you cast a wide net, you will be fine.
I would 100% not hire you. Mental illness is a huge liability in the pressure cooker of IB
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