Mentor/s
Prof. Alicja B. Stannard Prof. Brent J. Little Prof. Mary E. Ignagni
Participation Type
Paper Talk
Abstract
There is a history of underrepresentation of black women in leadership positions on Wall Street. Based on past studies, less than 10% of black women are found in senior leadership roles in the finance industry. This research paper explores the cause and the impact of the lack of diversity in leadership roles in Wall Street on black women and attempts to provide a solution to this issue. Ultimately, this injustice affects black women financially because of a block in their career advancement, mentally due to the sense of estrangement derived from the lack of representation and socially as it showcases that black women still suffer from racial and gender discrimination.
The results of this study suggest that in order to increase diversity in Wall Street, on top of networking opportunities and sponsorship programs, scholarship programs from Wall Street banks should be given to stellar black females in order to pursue their MBA; scholarships and financial analyst internship programs for black women should be presented at different universities; and at the firms, therapy sessions should be provided, leaders should be encouraged to increase diversity and one-on-one effective mentorship programs should be made accessible to black women in order to guide them into potentially occupying senior leadership roles.
College and Major available
Business Economics, Finance BS
Location
Digital Commons
Start Day/Time
5-5-2021 1:00 PM
End Day/Time
5-5-2021 4:00 PM
Prize Categories
Best Multidisciplinary Research or Collaboration, Most Creative, Most Meaningful
Black Women on Wall Street
Digital Commons
There is a history of underrepresentation of black women in leadership positions on Wall Street. Based on past studies, less than 10% of black women are found in senior leadership roles in the finance industry. This research paper explores the cause and the impact of the lack of diversity in leadership roles in Wall Street on black women and attempts to provide a solution to this issue. Ultimately, this injustice affects black women financially because of a block in their career advancement, mentally due to the sense of estrangement derived from the lack of representation and socially as it showcases that black women still suffer from racial and gender discrimination.
The results of this study suggest that in order to increase diversity in Wall Street, on top of networking opportunities and sponsorship programs, scholarship programs from Wall Street banks should be given to stellar black females in order to pursue their MBA; scholarships and financial analyst internship programs for black women should be presented at different universities; and at the firms, therapy sessions should be provided, leaders should be encouraged to increase diversity and one-on-one effective mentorship programs should be made accessible to black women in order to guide them into potentially occupying senior leadership roles.
Students' Information
Sephorah Alouidor, Business Economics and Finance, Honors Student, 2021
Honorable mention, Most Meaningful 2021 award.