Racism at Banks

Upenn99's picture
Rank: Monkey | banana points 33

I was recently interviewing for an entry level analyst position through on-campus recruiting and felt like couple firms were profiling due to my race. As i digged a little deeper, i realized that some of the boutiques (Greenhill, GCA Savvian, Evercore, and Moelis) hardly had any blacks, indians and asians. Is this a common theme for the firms mentioned above?

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Comments (25)

Sep 25, 2012

Just because there aren't many blacks in banking doesn't mean banks are racist.

    • 1
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Sep 25, 2012

Welcome to Corporate America.

    • 1
Sep 25, 2012

TLDR: OP didn't get a 2nd interview, must be race.

Sep 25, 2012

Always easy to cry "racist"! but the fact is that African Americans make up like 13% of the U.S. population, Hispanics 16%, and all Asian races 5%. Are we to assume that there would be a ton of minorities in a boutique of 150 people? And of those percentages (excluding Asian) minorities tend to have been more disadvantaged, and attain a lower rate of continuance to higher education. So no, I wouldn't expect there to be a ton of minorities in the smaller banks. Hell, I was surprised there were so few black people in the North when I first came up here. I def could have believed that black people were 40% of the U.S.

Reality hits you hard, bro...

Sep 25, 2012

two words: navid mahmoodzadegan.

Sep 25, 2012
Upenn99:

i realized that some of the boutiques (Greenhill, GCA Savvian, Evercore, and Moelis) hardly had any blacks, indians and asians.

I challenge you to find me a major investment bank that doesn't have any Asians.

Sep 25, 2012
Bruce Wayne:
Upenn99:

i realized that some of the boutiques (Greenhill, GCA Savvian, Evercore, and Moelis) hardly had any blacks, indians and asians.

I challenge you to find me a major investment bank that doesn't have any Asians.

Exactly. How can you say there's no big bank where at least 40% of its incoming analyst class is Asian. A better argument to make would be to challenge how the promotion system is and why most MD's are white. That's more valid.

Sep 25, 2012
Bruce Wayne:
Upenn99:

i realized that some of the boutiques (Greenhill, GCA Savvian, Evercore, and Moelis) hardly had any blacks, indians and asians.

I challenge you to find me a major investment bank that doesn't have any Asians.

or indians

Learn More

7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.

Sep 25, 2012

Evercore and Moelis have a bunch of asians and indians.

Sep 25, 2012

I think he threw in Asian and Indian to throw off the fact that he's black.

    • 2
Sep 25, 2012

Moelis is all Indians from places like UCLA, Michigan, Duke, and Wharton.

Sep 25, 2012
Upenn99:

I was recently interviewing for an entry level analyst position through on-campus recruiting and felt like couple firms were profiling due to my race. As i digged a little deeper, i realized that some of the boutiques (Greenhill, GCA Savvian, Evercore, and Moelis) hardly had any blacks, indians and asians. Is this a common theme for the firms mentioned above?

Of course, firms were profiling because you're black. What a cop-out.

Maybe you should sue them?

    • 1
Sep 25, 2012

In before this thread gets locked.

Sep 25, 2012

Unqualified doesn't mean that the employer is racist. It just means you lack self-awareness.

Plenty of diversity on wall street - but those jobs aren't just handed out like Columbia degrees and Harvard law degrees for simply being black.

    • 1
Sep 25, 2012
Blue Baller:

Unqualified doesn't mean that the employer is racist. It just means you lack self-awareness.

Plenty of diversity on wall street - but those jobs aren't just handed out like Columbia degrees and Harvard law degrees for simply being black.

OHHH SNAP.

C'mon man, don't say that. I mean everyone has seen Obama's college transcripts so we know he aced his classes.

Oh wait...

Sep 25, 2012

Thought provoking man...

I do think that in general as Americans we tend to have a superiority complex embedded in us. The fact that its coming to a point where we make fun of the dead is sad.

I'm not anywhere close to be able to say how the 80's were like, but its obvious from my other travels across the globe that America, especially New York, is full of some of the most ice cold hearted people I've met. Not to be a baby or complain in any way... NY and Wall Streets environment just produces people who tend to be more aggressive but its sad to see where we've come.

It is of interest to note that while some dolphins are reported to have learned English -- up to fifty words used in correct context -- no human being has been reported to have learned dolphinese.

Sep 25, 2012

Do people actually believe that gselevator is legit and not some mockery produced by a wannabe comedy writer?

Sep 25, 2012
brandon st randy:

Do people actually believe that gselevator is legit and not some mockery produced by a wannabe comedy writer?

that'd be messed up.

It is of interest to note that while some dolphins are reported to have learned English -- up to fifty words used in correct context -- no human being has been reported to have learned dolphinese.

Sep 25, 2012

I appreciate your last few paragraphs, because yes, this does glamorize, intentionally or otherwise, certain behavior. Yes, it's from the "ha ha, that's wrong, ha ha" perspective, but I agree with your decision to draw the line with the Trayvon "jokes." And I enjoy GSElevator, so I'm no prude.

I couldn't posibly care less about anyone's opinion one way or another on the verdict. If you can look at that picture of a dead teenager placed into a Where's Waldo poster, man, makes me want to throw the smartass who made that down a flight of stairs or two.

Sep 25, 2012
brandon st randy:

Do people actually believe that gselevator is legit and not some mockery produced by a wannabe comedy writer?

Sep 25, 2012

Great write-up man! Thanks for sharing!

Sep 25, 2012

This is fantastic. You've got a new follower (once I'm somewhere I can access Twitter).

Sep 25, 2012