Study Finds White Men from Higher Socio-Economic Backgrounds More Likely to Succeed in Finance Sector

Finance Nouvelles

White men from higher socio-economic backgrounds are 30 times more likely to succeed in financial services than working class ethnic minority women, a study has found. The Bridge Group carried out the research for Progress Together examining the career progression of almost 150,000 people across the sector. Chief executive of Progress Together Sophie Hulm said: "Socioeconomic background has the greatest impact on career progression." Businesses could soon be forced to collect and report their diversity and inclusion data under proposals by the Financial Conduct Authority (FCA) to improve diversity in the sector. At grassroots level, efforts are being made to tackle these barriers.