Is it almost better to be a Straight White Guy in Finance? Hot take
Ok - everyone knows being a straight white man (SWM) in todays economy sucks for employment, let alone finance. It is a severe up hill battle, where even semi/non-target neeks that are 'diversity' potentially (albeit maybe not always) have an advantage over a top target SWM.
Now, here is where I get wondering... coming from this background, where those SWM that matriculate to these top BB/EBs in coveted M&A seats make up now a minority of those in their analyst/intern classes, the level of ability they posses must be far greater than peers as they had a significantly more difficult recruiting process. This would suggest these are top bucket analysts, who would likewise (correlation not causation) have gone to the top in the 80s as well in a non diversity environment. I am not referring to these. However, this is where it gets interesting. Say an average non standout SWM somehow matriculates to a top seat (maybe someone like me). The majority of SWM current Partners/MDs disapprove of the extent of the going diversity movement, especially as back in the day these were top frat guys who view our current generation as soft.
Hence, an average middle bucket analyst that is SWM is likely to almost be favoured then a diversity kid, as now the diversity kids are likely to be the majority, there is less SWM competition at the current analyst level, meaning they could theoretically, due to MD/Parnter endorsement, rise higher than their peers and have an advantage say over in the 80s.
Maybe the stress of a rapidly depleting trust fund is getting to me but idk just some thoughts. Let me know what you guys think down in the comments below. For the record I am a SWM ΣΧ senior at a H/Y/P/W/S who bagged an M&A GS/JPM/MS/Evercore/LAZ return offer (NYC ofc you brokies), and ergo as such, there is a demonstrated vested interest in my daydream.
judging by how this post is written the trust fund is being rapidly depleted due to a rampant cocaine addiction
I actually agree. The added stress/anxiety of knowing I'm a SWM and therefore up against it in recruiting forced me to work harder and I ended up getting top EB offer, and subsequently I'm stronger technically and marker awareness wise than if i didnt work as hard. Hoping the added work ethic is instilled throughout my career where subconsciously I feel I need to perform better than diversity colleagues for the same result will force me to work harder and improve more.
Hope this is a joke. If you think that the majority of analysts at BB/EBs are diversity candidates, then you need to check again. Makes it sound like you are pretty insecure about your competition
So if power shifts away from the the western world and the high finance opportunities become a lot more abundant in other regions of the world, are you going to beg for the presence of diversity recruiting because you will be considered a “diverse” candidate in non-white and homogeneous parts of the world? And how would you feel if you do end up in a position where you realize that it makes more economical sense to re-locate to these non-white countries…. And surprise surprise: most of the management roles are filled by women rather than men (unlike the western world).
What?
I mean… yes. The same reason why Goldman’s IBS group looked more like the 1930s German Olympic team than the Weinberg clan.
Sexism, racism… they still exist. They are still real.
Sit id odio magni eos voluptatem. Sit a voluptatem non molestias dolorem iusto alias. Ullam qui iusto vel suscipit. Dolores officiis accusantium ut est repellat tempore ab. Ab cupiditate expedita praesentium iusto laborum. Iste provident amet eum commodi. Sed impedit architecto sunt.
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...