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[quote=Anonymous][quote=Anonymous][quote=Anonymous]So with all these diversity targets, is it bad news then for my white, lower middle class son without connections to find internships and first job? I’m sure he’ll hit the pavement running, but sounds a bit discouraging. [/quote]

There has always been a lower middle class demo on Wall Street. Lloyd Blankfein, to take an example - he's the former CEO of Goldman Sachs, which stands atop the investment banking world - was the son of a postal worker and receptionist and grew up in the Bronx. I believe he started at a small firm trading gold.

But I do think it is more difficult today. You have the privileged, well-connected students with pedigree degrees. They've always been there. Nothing new. And you have hiring priorities, particularly in banking, which favors DEI hires. If your kid is even remotely Black or Hispanic, there are so many internship opportunities.

In the end, it's always the grinders that rise to the top. Maybe they don't have the same opportunities at 19. But they grind. And by 40 they're everyone's boss. I would encourage networking and calls everywhere. Things like LinkedIn make everything so much easier. And people do generally like to help. Go to the best possible school you can. The great thing about this country is that it tends to work out for smart, disciplined, hard-working people regardless of their background. If you crash and burn, start again.[/quote]

I don't think mail room to CEO will ever happen again, but there have always been white shoe firms where Princeton and connections matter most and outsider firms where talent and hard work matter most. [/quote]

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