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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSecret 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.
Thats 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 industrys 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.
Thats 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 industrys 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 Dartmouths Alpha Delta chapter. But the reality is that its still very much a male-dominated culture.
Fraternities have become so good at filling Wall Streets 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
Even better you'll be lauded as successful and a philanthropist, when you give away..
Jesus Malverde
Dec 2013
#4
Baitball Blogger
(47,663 posts)1. New faces, same old reckless guard.
WillyT
(72,631 posts)2. K & R !!!
Silent3
(15,909 posts)3. You mean it's not a meritocracy that rewards effort and talent!?
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..
What you should have paid in taxes...
L0oniX
(31,493 posts)5. Secret Handshakes = gang sign