Wall Street Banks on Diversity...at Least for the Summer

The video discusses the challenges and importance of diversity on Wall Street, emphasizing that the real issue lies at the senior level rather than the intern level. It highlights that diversity is not just a corporate social responsibility but also makes good business sense, as studies show it can improve the bottom line. The video also covers how major banks like Bank of America and Goldman Sachs are addressing diversity, particularly in their intern programs, and stresses the need for continued efforts beyond initial steps.

What is the main issue with diversity efforts on Wall Street according to the transcript?

• The focus is only on interns.

• The issue is at the senior levels.

• There is no real business advantage.

• It is seen as a corporate social responsibility.

Why is diversity considered beneficial for businesses?

• It reduces operational costs.

• It leads to more profits.

• It attracts more interns.

• It improves company image.

Which bank mentioned diversity in its earnings call?

• Bank of America

• Morgan Stanley

• Goldman Sachs

• JPMorgan Chase

What is Goldman Sachs' pledge regarding its incoming class?

• To focus on senior-level diversity.

• To reduce the wage gap.

• To ensure a balanced class starting 2021.

• To increase the number of interns.

What assumption is made about interns in the final section?

• They will all become senior executives.

• They will transition to full-time staff.

• They will leave after the internship.

• They will not contribute to diversity.