#GAReads | Goldman Sachs Removed This One Word From Some Recruiting Materials—and Saw Female Hires Soar
“Goldman Sachs Removed This One Word From Some Recruiting Materials—and Saw Female Hires Soar”:
Wall Street banks haven't always been the exemplar of gender diversity. And according to one investment banker, diversity still gets a "C" on the Street.
"Moving up the ranks is really hard, if you’re a man or a woman," Valerie Dixon, the executive director of healthcare investment banking at Morgan Stanley said onstage at Fortune's Most Powerful Women Next Gen conference in Laguna Niguel, CA. "When you start out, … firms are really making an effort to try and have that be 50/50. But by the time you’re a managing director, which is the highest level [at Morgan Stanley], the number is probably ... 20%," she says.
"If I had to give a grade, I would say probably a C," Dixon said, but then reflected that actually the grade probably "hasn’t moved up from a D or an F since when I started in investment banking [in 2006]."
Yet some banks are making a conscious effort to change the grade—through recruiting.