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Jesus Malverde

(10,274 posts)
Sat Dec 28, 2013, 02:43 PM Dec 2013

Secret Handshakes Greet Frat Brothers on Wall Street

As students vie for 2014 internships in an industry where 22-year-olds can make more than $100,000 a year, interviews with three dozen fraternity members showed a network whose Wall Street alumni guide resumes to the tops of stacks, reveal interview questions with recommended answers, offer applicants secret mottoes and support chapters facing crackdowns.

That’s one reason men continue to dominate on Wall Street, where no woman has run a big bank. General Motors Co. (GM) announced Dec. 10 it would make Mary Barra the auto industry’s first female chief executive officer, the same day research firm Catalyst Inc. showed women holding about one in eight executive roles in U.S. finance.


“There obviously has been much progress since 20 years ago,” said Siegfried von Bonin, head of Dartmouth’s Alpha Delta chapter. “But the reality is that it’s still very much a male-dominated culture.”


Fraternities have become so good at filling Wall Street’s openings that firms can hire several alumni for each woman. There are at least four members among 14 associates at San Francisco-based private-equity firm Hellman & Friedman LLC, according to resumes posted to LinkedIn. Two of the 14 are female. Fraternity brothers outnumber women four to one in the analyst program at Peter J. Solomon Co., a New York investment bank founded by the former Lehman Brothers Holdings Inc. vice chairman. Spokeswomen for both companies declined to comment.


http://www.bloomberg.com/news/2013-12-23/secret-handshakes-greet-frat-brothers-on-wall-street.html

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Secret Handshakes Greet Frat Brothers on Wall Street (Original Post) Jesus Malverde Dec 2013 OP
New faces, same old reckless guard. Baitball Blogger Dec 2013 #1
K & R !!! WillyT Dec 2013 #2
You mean it's not a meritocracy that rewards effort and talent!? Silent3 Dec 2013 #3
Even better you'll be lauded as successful and a philanthropist, when you give away.. Jesus Malverde Dec 2013 #4
Secret Handshakes = gang sign L0oniX Dec 2013 #5
 

Silent3

(15,900 posts)
3. You mean it's not a meritocracy that rewards effort and talent!?
Mon Dec 30, 2013, 12:53 PM
Dec 2013

Say it isn't so!

Next you'll be telling me that people can waste millions, wreck businesses, and destroy jobs while still walking away with millions of dollars for themselves, and then have no trouble being offered another job to do it all over again.

Jesus Malverde

(10,274 posts)
4. Even better you'll be lauded as successful and a philanthropist, when you give away..
Mon Dec 30, 2013, 12:55 PM
Dec 2013

What you should have paid in taxes...

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