Socially Responsible Investing (SRI) Firms?

Actually both GS and MS contribute signficantly to society. Like many people, you grossly underestimate the amount of good for society that is done by purely for-profit business. Infact, I dare so no government official, charity or anything/anyone has ever done as much good for humanity as the free-markets and the goods and services business creates and provides through them. If you want to contribute to society, the best way to do it is through free enterprise - cut the lefty hippie shit and get to work.

Whilst not directly on topic, you should read T.J. Rodgers's famous letter from 1996 and his debate with Friedman and that guy from Whole Foods.

"The May 13, 1996 issue of Fortune magazine analyzed the "ethical mutual funds" which invest with a social-issues agenda, and currently control $639 billion in investments. Those funds produced an 18.2% return in the last 12 months, while the S&P 500 returned 27.2%. The investors in those funds thus lost 9% of $639 billion, or $57.5 billion in one year, because they invested on a social-issues basis. Furthermore, their loss was not simply someone else's gain; the money literally vanished from our economy, making every American poorer. That's a lot of houses, food, and college educations that were lost to the "higher good" of various causes. What absurd logic would contend that Americans should be harmed by "good ethics?"

"I am proud of what the semiconductor industry does--relentlessly cutting the cost of a transistor from $3 in 1960 to three-millionths of a dollar today. Mackey would be keeping his business records with hordes of accountants on paper ledgers if our industry didn't exist. He would have to charge his poorest customers more for their food, pay his valued employees less, and cut his philanthropy programs if the semiconductor industry had not focused so relentlessly on increasing its profits, cutting his costs in the process."

http://www.cypress.com/?rID=34986 http://reason.com/archives/2005/10/01/rethinking-the-social-responsi

Michael Milken did way more for society than Mother Theresa

Mother Theresa? Never heard of him - strange nickname though. What bank did he work at?

"Mother Theresa? Never heard of him - strange nickname though. What bank did he work at?"

Well done.

I was in a small microfinance provider and believe you me there is nothing socially conscious about it it. True, you are lending money to the poor to startup their business or make ends meet, but the fees and the rates you charge completely outweigh any goodwill you may have had.

Don't knock working at GS/MS dude, the entire banking/hedge fund/PE industry has probably donated more money to charity than any other group in the past years and what are they to society? The enemy. It's an irony that the largest foundations or charities that made a difference were started by people who were despised as cutthroat or coldhearted, John D. Rockefeller for example.

Anyway to answer you're question, why don't you just apply to some non-profit orgs? Top MBA's love that sort of background if you change you're mind along the road.

I hear BP and Exxon Mobile are top notch

JPM has a socially responsible IB group. I have the link on my laptop. Only 4 people, but it is something.

I agree with the above comments. If you want to do something socially good either volunteer and work at a non profit or make a lot of cash and donate some of it.

+1 to Marcus for bring up Andrew Carnegie (my favorite). He basically created Pittsburgh (I mean he built it up). Made tons of money and gave it away before he died. You would have trouble not finding a library, school building or other public institution not named after him.

I dunno. As someone who grew up pretty religious, there's not a whole lot of values in investment banking and capital markets besides money. And yes, ultimately, banks create a lot of social good by getting money where it needs to go in the economy and ultimately making it less expensive for us to have a healthier environment and fund health care, but it's several steps removed.

If you want to do something good for the world, maybe a good place to work in finance is at a credit union.

So a third person listening to our conversation says "if he was so troubled, why didn't he change the way he did business?" And the answer is, if he did change the way he did business to shorten the work week and reduce dangerous working conditions, and offer extended lunch breaks, and shorten shifts and offer day care centers etc... he would cease to be competitive and he would be run out of business. Because that was the world he lived in. He could behave differently inside that world, but that world would remain the same and he would likely fail. Or he could play by the rules prescribed by that world, dominate it and change the rules to address the things he felt strongly about. Which is what he did. The most valuable thing he had to offer the world was steel, not social welfare. So he continued providing the world the most valuable thing he had to offer, and used it to accumulate the means to address the causes which he felt strongly about.

I am all about helping other people--as soon as I get mine.

I'm not sure where your based but I always liked what these guys do and their approach might be to your liking: http://en.wikipedia.org/wiki/Robin_Hood_Foundation not to mention the SICK network you might have if you work there.

As for looking at non-profits to volunteer/work for, make sure you do something you believe in. (though I don't see you having that sort of problem) I made the mistake of doing one which I didn't really care for and man did I hate Saturday mornings.

goldman sachs

GS

jpm has a social finance group within the investment bank

Hello Since you have asked for investment banks for which social responsibility is a priority. I am giving you the link which may help you against your quest . http://www.thirdsector.co.uk/news/Article/880188/social-investment-bank…

Thanks http://www.fintel.us/

work for any IB and just donate your bonus to charity - then no matter what bank you're at your job will be socially responsible

I hear this place is good.

@ the OP: AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA

@ the title: AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA

@ poster above me: AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA AHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHAAHAHAHAHAHA

just to clarify that not everyone was joking:

http://www.jpmorgan.com/pages/jpmorgan/investbk/solutions/ssf

If you want granola eating, tree hugging hippies, go into consulting. Honestly, M&A, Industries aren't that bad. They serve to help companies, acquire others or sell themselves. Healthcare M&A is a choice as well. IB gets a bad rap, however the reality seldom fits the myth.

Are you collecting ideas for your freshman business ethics / social responsibility class? I think you're asking the wrong crowd...

Haha, no, I'm out of uni, so it's just out of curiosity, notably because I guess the crowd here is quite, let's say, 'diverse'. I got my opinion on this one..and actually I got asked these kind of questions at some interviews..

As long as the i-bankers are pursuing their enlightened self-interest, the invisible hand will ensure their efforts would benefit the society.

Short answer, no. No one "owes" society anything. If you want to give money to a charity, great, but no one ever has an obligation to do so. I am also against the notion of companies donating $ to charities that its employees and shareholders may not approve of. I don't wanna go into the mechanics of it again, but if those profits are passed on to the employees/shareholders, increased income = increased donations. I don't need my company giving to a Mormon charity or something. Yes, places like GS often give $ to african water projects, ITNs, etc. But, I'd rather it be private rather than corporate donations.