Wall Street Campaign to Hire Black Workers Isn't Going Well

The video discusses the challenges black professionals face on Wall Street, including bias and racism. It highlights the importance of diversity in hiring and the measures some banks are taking, like tying compensation to diversity goals. Despite these efforts, the percentage of black workers has stagnated, indicating a need for authentic top-down approaches. The video also emphasizes the existence of diverse candidates and the need for firms to explore nontraditional channels to find them.

What are some of the key concerns for black professionals when considering a job on Wall Street?

• Salary and benefits

• Company diversity and culture

• Work-life balance

• Location of the office

What recent action has Wells Fargo taken to address diversity issues?

• Increased salaries for all employees

• Sponsored diversity training programs

• Linked compensation to diversity hiring goals

• Opened new offices in diverse neighborhoods

Why are some people skeptical about the effectiveness of diversity measures in banks?

• Lack of qualified candidates

• Diversity numbers have not changed significantly

• High turnover rates

• Insufficient training programs

What is a suggested method for banks to find diverse candidates?

• Using nontraditional recruitment channels

• Relying on traditional job postings

• Hiring from within the company

• Focusing on local universities

What is a common excuse given by banks for not hiring diverse candidates?

• Lack of interest from candidates

• High competition from other industries

• Insufficient number of qualified candidates

• Budget constraints