DEI programs suck?
came to an understanding after this recruitment cycle that DEI programs are catered towards RICH DEI
most or all come from private high schools with rich parents and these programs exist to make a rich persons life even easier, simply because their racial or gender DEI
those from lower income or first gen non-DEI truly have it the hardest in finance
del
not sure what you recruited for this year, but just from observation, the “less” prestigious jobs are often taken by kids from middle to lower income groups cause of knowledge gap on how to recruit for the “prestigious” roles (likely attributed to coming from a non-target which is further attributed to the fact that there wasn’t support in college applications)
the fact that ib recruitment in general is tough deters many kids who doesn’t have a good shot at making it (which includes the poor kids, since they already observe the nepo kids connection, most tend to move to something more viable in fear of rejection)
but also from observation, my target school have tons of rich nyc women and rich andover black/hispanic kids, and all of them had a leg up to the first gen, low income student in being accepted to DEI programs (100% due to existing wall street networks)
agree with you on the hispanic portion, seen kids with immense wealth internationally apply for these programs because they’re from mexico, but dads able to pay 90k for college from their currency, i’m sure that DEI made their life easier since it was just so hard to start with
del
From what I have seen, the only people who seem to support DEI genuinely are those who benefit the most from it, mainly women and black candidates, since we do not really have Hispanics in the UK, and those from highly privileged backgrounds who have used it to their advantage to break into IB or high finance. The latter group often comes from private schools and Nepo and either feels guilty about their privilege or wants to appear morally superior, almost like a white saviour complex.
90% of DEI is just virtue signaling. How can a company be "committed to diversity" and take an SEO intern every year, but their full-time staff is all white and Asian? I'm going through associate recruiting and every brand name company has me interview with 8 white people, 1 Indian, and 1 Chinese. Where did all these URM's who interned here go?
Many Hispanic people who take DEI jobs don't even support the cause. They go and glaze Trump and Elon who want to end DEI. It makes no sense.
That is the purpose of the programs. It doesn't matter how they say it's intended or what they "meant" to do, the outcome defines the function. Virtue signal + discriminate + support/show favoritism towards your economic in-group - it's a repetitive playbook they just swapped a few pieces around.
Amen
DEI is dying at a rapid pace -- the biggest forward-looking catalyst for the private sector (Trump is already handling the public sector side) is the new case Ames vs. Ohio which SCOTUS just heard in the past month and will issue a ruling on in June
If you look at the oral arguments & justice responsnes, a bunch of justices are skeptical of Ohio and supportive of Ames -- a ruling in favor of Ames would mean reverse discrimination lawsuits would MASSIVELY spike up. So even the woke firms that have faked ending DEI by renaming it something else (I'm looking at you, Disney) will have to cut that crap out or at least cut out ~80% of it (vs. maybe the 20% max that most firms have done in the past 1yr) unless they want to be sued into oblivion. The bulge bracket banks are no exception to this, this case's ruling will have a MASSIVE impact esp now that it's layered on to 1) SCOTUS ruling against AA in 2023, 2) Robby Starbuck & the like crusading against DEI, and 3) Trump crushing DEI federally and at contractors
This summer will bring the final nail in the coffin on DEI
The epic center of DEI is Canada which is where most work is required to nip it in the bud. It’s a country ruled by feminist n*zis and they use it to discriminate against non-nepo white, arab, brown and asian males. The prime beneficiaries of DEI are women (especially white) and hate hardworking men. Unfortunately, the conservatives in Canada are namesake and support DEI as long as it favors white women as it furthers their racist agenda.
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