Investment banks must do more to remove social mobility ‘roadblocks’, says watchdog

CIPD’s Greg Pitcher comments on the Social Mobility Commission’s findings.

A report from the Social Mobility Commission reveals that recruiters from investment banks often overlook aptitude in favour of ‘fit’ and ‘polish’. This is reflected in the underrepresentation of people with a disadvantaged socio-economic background in front-office investment banking jobs. The commission suggests this may explained by stages in the recruitment process benefiting those with a privileged background. As a result, investment banks have been urged to reduce barriers to employment for less advantaged – or ‘non-privileged – candidates.

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