Dirty Little Secrets is about to launch a series of posts written to shine a brighter light on the racial divide in Boston. Specifically, the elite Asset Management firms, Hedge Funds, Private Equity , Family Offices, Venture Capital, Investment Banking and RIA’s. (Multi-generational, and Institutional Wealth Management). SearchGroup500 aka SG5 is looking at the racial divide through a unique lens. After working directly in the investment business and then staffing it, we have over 30 years of experience and exposure relative to hiring practices. “Dirty Little Secrets” initially took an honest and open look at the staffing business in order to help you establish a healthy relationship with a Recruiter. I think you all know the challenges of working with one. Visit some of our past installments if you need help in this area.
Over the past several years, firms have added Chief Diversity Officers and Chief Inclusion Officers to their staff. Also there are a few very visible and verbal folks talking about #Diversity at #SHRM (Society for Human Resource Management). Diversity and Inclusion means many groups of people. However, for the sake of this and upcoming blogs, let’s stay focused on black and brown talent. Our experience indicates most investment firms have people of color at the very top. For example; Principals, MD’s and Partners. Most graduated from top notch universities and prep schools; are extremely polished and articulate and command a premium. People of color can also be found in Operations. Operations is a vital part of all investment firms. However, what about the “middle of the corporate ladder”? How many Managers, AVP’s, and VP’s are now MD’s, Principals or Partners, and compensated based on performance rather than circumstance? The racial divide is real. “Dirty Little Secrets” will pull back the curtain on the why. Change can only happen if we all speak up!
