For someone on the other side of this argument, this was a very well reasoned comment. +1

I think taking into account socioeconomic factors for college admissions would be a beneficial practice. However, I believe that the leg up URMs are given don't level the playing field during any normative recruiting cycle, rather they tilt the scale towards those groups. I think a lot of it has to do with SJWs in HR, who think they're making the world a better place by diversifying the company's demographic statistics, and then you have more senior guys who think it's a beneficial practice from an optics/PR standpoint. It's unfortunate that there will always be biases in the hiring process, but I'm not convinced that structural biases against white and asian males will do anything to solve that, rather they will stoke the fire for more biases down the road. For example, the achievements of a Hispanic woman being attributed to her identity as opposed to her work ethic and intelligence. But as a result of the diversity policies employed by many entry-level recruiters, is this bias irrational? I would argue it isn't, and that buck should stop when it comes to recruiting for actual jobs, though upbringing and socioeconomic status should be a factor, to some extent, in the admissions programs at universities, that make recruiting for these jobs possible in the first place.

 

I think a big problem though is who these diversity programs are taking. Just in my network alone I know two girls who are half asian/white and they've lied to say they're pacific islanders. Every underrepresented minority in these programs that I know, comes from at least an upper middle class background. For example, my school has no connections to MBB and never places. But one of my friends is hispanic, although his parents are solidly upper middle class, and he got it. He's a good friend of mine, and a very smart guy, but literally never would have gotten the opportunity if it weren't for the program. Compare that to someone else who lived in abject poverty, worked throughout college, but still maintained a good GPA, and had no way in to MBB

 
Most Helpful

Is this a fucking troll?

As an Irish man, and a Catholic at that, we'd face huge discrimination in northern Ireland by the Protestant community

Yeah and guess what? The Irish Catholics immigrated to the United States and faced discrimination here too. People thought of the Irish as poor, drunken criminals, and "No Irish Need Apply" signs sprung up everywhere. And then... this sentiment started to disappear. Did the Irish get diversity programs? Were there Irish Leadership Seminars at JP Morgan or Ford Motors? Yeah, no. The Irish assimilated, worked hard and used everything that this country had to offer to lift themselves up. Just like the Jews, Asians, Italians, and practically every other group that immigrated to this country and faced similar discrimination. The reason blacks are behind is because of their defective culture, especially in the inner cities (which both they and well-intentioned gov't policies are responsible for). Those that don't take part in this culture move up, with or without diversity programs.

So now there are minorities and LGBT still being hired as well as women. It is still true to say that some of these groups are discriminated against and some have tougher economic upbringings

Gays are one of the highest earning demographics in this country. Why the fuck do they need a leg up? That should be DAMNING EVIDENCE that diversity programs are total, utter horseshit. Stop acting as if they were thoroughly researched by "economists" and the government to lift people up. They might have been well-intentioned initially, but now they are merely tools that politicians use to pander and that companies use to avoid getting sued for racism or homophobia.

When will it stop/change to looking at people's socioeconomic status instead of their race/gender/sexual orientation? Idk.

These bullshit programs will never end. It is too politically unpopular to end them. We've gotten ourselves into this and now there is no way out. I encourage everyone to abuse the shit out of these programs. I became a bisexual hispanic just a few weeks ago, actually.

 

You're being intellectually dishonest in the first part of your comment. Why do you think Irish people were able to assimilate in a way black or hispanic people couldn't? Because when you're white, and you have an American accent, who is to know? When you're judged by the colour of your skin, who won't know? Your comment is riddled with borderline racist dribble.

 
iercurenc:
The Irish Catholics immigrated to the United States and faced discrimination here too. People thought of the Irish as poor, drunken criminals, and "No Irish Need Apply" signs sprung up everywhere. And then... this sentiment started to disappear. Did the Irish get diversity programs? Were there Irish Leadership Seminars at JP Morgan or Ford Motors? Yeah, no. The Irish assimilated, worked hard and used everything that this country had to offer to lift themselves up. Just like the Jews, Asians, Italians

Ahh yes, those ethnicities assimilated in a time where you didn't even need a high school diploma to get ahead while at the same time black people weren't even able to get those jobs. Don't forget government welfare that was denied to black people all those groups would've been eligible for.

 You guys love to use the government as your whipping board for how we got here with disproportionate misfortunes in the black community. But in reality, racism was the overarching issue that weaved its way into everything including government.

 

This is literally just the classic model minority myth. Basically: "Asians, Jews, Italians, and the Irish, have such strong cultures that they are able rise above other oppressed minorities."  Not only does this hurt these groups, as any anti-Asian or antisemitism rhetoric is often not noticed as much. But when you use it the same way as the KKK does, you promote anti-Black rhetoric. All aforementioned groups faced incredibly challenging times, but Asians, Jews, Italians, and the Irish, didn't achieve economic success because of their "culture" they achieved because white people became less racist to them. Also, immigrants always do better than Americans in basically every field because of selective immigration that brings in the top talent from foreign nations. Its the reason African women who immigrated earn more than white American women.

Finally, how should we go about fixing "The reason blacks are behind is because of their defective culture?" Please enlighten me.

 

It is sexism for sure, but the world is currently WOKE and looking to put even more sexist and racist quota's in place. Feel free to identify as a woman and meet that requirement since we cant even admit there is a difference anymore in some circumstances. 

 

Because to sexists and racists don't want to admit they are sexists and racists.

 

You would need concrete evidence that your gender was the precise reason why you were not hired. I would be surprised if a company was careless enough to allow you to build a case, but you could sue if you have proof and not just a hunch.

I’m a fun guy. Obviously I love the game of basketball. I mean there’s more questions you have to ask me in order for me to tell you about myself. I'm not just gonna give you a whole spill... I mean, I don't even know where you're sitting at
 

I was told in an interview for a MM PE that the opening is specifically a female. No evidence to back it up unfortunately

 

it's been going on for years with minorities. I usually hear the argument that minorities are oppressed therefore they need the extra help getting a job... ok but thats been happening for well over a decade. and the quotas don't make sense. the UK is 86% white (was 92% in 2001), how are companies trying to recruit 25% black workforces lmao. 

it's all a rigged game anyway... soon these jobs will be full of sub-par candidates that are a) somehow oppressed or b) got the job through a connection. 

I encourage all other straight white males to say you are a disabled black female. I do on all my apps. If we all do it their system fails. 

 

Blanditiis odio deleniti soluta est. Ipsa ea aut fugiat voluptatem. Molestias tempora quis quos dignissimos modi sapiente. Voluptas molestiae hic repellendus et fuga.

Voluptatibus iusto nisi et officia fugiat aperiam dolores. Explicabo in tempora eum reiciendis sint.

Dolorem quo voluptate et ipsa ut. Ducimus quia nostrum fuga perspiciatis. Delectus aut odio beatae autem. Nulla illum libero laudantium illum quaerat laborum quas.

In nobis voluptatibus recusandae sit. Reprehenderit vero minus ipsum voluptatum eius quo. Qui dolor quis vero error qui. Quo labore officia repellat aut iusto eius saepe. Iure qui tenetur veniam nostrum et ut. Accusamus nihil illo praesentium commodi.

 

Perferendis maxime corrupti in doloribus perferendis nobis quam sed. Iure sed quis id temporibus dolorem nam quam expedita. Cumque et soluta et praesentium doloribus. Facilis ut nihil doloribus aperiam voluptatem.

Qui fuga voluptas ea facere recusandae. Velit voluptates debitis fugit natus dolorem sed. Ipsam nihil et et consectetur.

Rerum eius ea cupiditate. Rerum illo ullam sunt omnis ut sed qui. At ab ea suscipit enim fuga.

Ipsum aut expedita non dolorem repellendus eos voluptatem. Libero atque quis voluptates quia id doloribus eius.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
GameTheory's picture
GameTheory
98.9
7
kanon's picture
kanon
98.9
8
dosk17's picture
dosk17
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”