Less affluent kids are locked out of investment banking jobs

A new report by the Social Mobility Commission highlights a culture of conformity in investment banking.

Because investment banks focus their recruitment efforts on a small pool of elite universities, they are failing to hire talented undergraduates from less advantaged backgrounds. This is also due to the tendency to hire those that fit in with the culture of the organisation. The Social Mobility Commissions report reveals that most investment banks predominantly favour middle- and higher- income candidates, who come from six or seven of the country’s top universities.

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