Meta ending DEI -- implications for IB?
As per https://www.axios.com/2025/01/10/meta-dei-memo-em…, Meta is ending its DEI practice entirely.
Will banks follow route?
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probably not
All US BBs already bailed on net zero carbon charter. Biggest losers of DEI elimination will be white Beckies. All these boss babe and gal powa clowns will go back to their Starbucks jobs
Nah the Beckies will be fine. During those long hours it's nice to have something pretty walk by every once in a while to distract from the monotony (banker friend's words, I never did IB). But if we're lucky we'll see an end to all the "anyone got results from [X DEI group] in finance" posts and the 1-day info sessions will disappear from resumes/LinkedIn.
I'll take not having anything pretty walk by in exchange for not receiving garbage work from the pretties
Based on the most helpful WSO content, the topic of Diversity, Equity, and Inclusion (DEI) in investment banking has been a hot-button issue. While Meta's decision to end its DEI practice might spark discussions, it's unlikely that banks will universally follow suit in the near term.
Banks have historically embraced DEI initiatives not just for societal reasons but also for business advantages. As highlighted in WSO threads, diverse workplaces are seen as outperforming homogeneous ones, and clients often prefer teams that reflect their own diversity. Additionally, DEI programs in banks are often tied to long-term strategies for talent acquisition, retention, and reputation management.
However, there is ongoing debate within the industry. Some professionals argue that DEI quotas or "overlay" promotions can lead to perceived declines in meritocracy, as seen in discussions about promotions and hiring practices. Others emphasize that DEI should focus on outreach and providing resources to underrepresented groups to ensure they are genuinely qualified, rather than relying on quotas.
In summary, while Meta's move might influence conversations, banks are likely to weigh the business case for DEI heavily before making any drastic changes. The financial sector's relationship-driven nature and client expectations make it less likely to abandon DEI entirely.
Sources: What is so meritocratic about IB ?, Jamie Dimon on Diversity & energizing office culture - finally someone explains it, Future of Investment Banking | Outlook Beyond 2021, , Diversity problem in CRE
Monkey bot is woke
Can’t wait for Trump to ban DEI federally on Jan 20th
Gg to those who couldn’t cut it on merit
Also known as most of the losers here making weekly threads complaining about DEI. Wonder what their excuse will be next.
there are 2 reasons I hate DEI
1. People who aren't qualified getting the job
2. People who aren't qualified complaining about not getting the job because of DEI
He is also looking to end birthright citizenship. I do not think he can do it, though.
That’s only for those whose parents came here illegally
either way, a sub-1% probability of coming to fruition and not material / relevant
There's still enough money in ESG to keep lip service alive. You'd be surprised about the number of closeted people way up the finance food chain too. I can't say much, but between confirmations and rumors, I'd put it as 7-10%. I'm not sure, there may be something between neurodivergence, numbers and being gay. the venn diagrams seem to have a suspicious amount of overlap (in non-sales roles) but I have no idea how you'd study the topic.
Also, Zuckerberg has a supermajority of voting shares of Facebook stock due to it's (sketchy) dual share class organization. Nasdaq and the NYSE have been trying to crack down on that, but they got in under the wire.
Yes, Jamie tracks Zucks moves closely and follows suit
Meta should end too.
Social media and technocratic companies are a plague to the social and moral fabric of any society.
It was better in the 90s. And I was like.....4 years old then.
How suasible an institution is to "DEI this," "get rid of DEI that" depends on how much impact the government has on their business. The more government influence that there is, the more suasible the institution.
Meta is extremely fragile if not treated with sympathy by the government. Antitrust can make mincemeat of the different pieces and fine them into the dirt. The moment they stop pleasing the government is the moment the company dies. This means that Mark Zuckerberg has to be very flexible strategically. He's the liberal tech CEO who wears only one outfit the one day, he's a conservative frat bro with a chain the next.
Investment banks are not going to whipsaw as hard as Meta in either direction, because there's less government. It all depends on the cards you're dealt.
Going to be funny seeing what excuse people use for not being able to get into investment banking and tech
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