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4 charts showing the financial industry’s lacking racial diversity across all levels

  • Financial institutions still have a long way to go before they reach balanced representation within their companies.
  • Here are four charts on financial companies’ lack of racial diversity, especially in managerial and C-suite roles.
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4 charts showing the financial industry’s lacking racial diversity across all levels

Following the racial injustices of last year, financial companies’ diversity policies and efforts are getting more attention now. Investors are putting more emphasis on ESG in their investments. Banks and other financial institutions are making diversity promises. Nonprofit organizations like the Greenwood Organization are getting more funding than they ever expected. Things seem to be going in the right direction.

But while plenty of banks and financial institutions are promoting their diversity efforts on their websites, they aren’t doing the same within their own companies. White employees are still much more likely than employees of color to be promoted.

Who’s getting the promotions?

Source: ‘Racial equity in financial services’ by McKinsey & Company

From entry level jobs to C-suite appointments, white employees are getting more promotions than people of color within financial services. The imbalance is noticeable in every level, but especially in higher-ranking positions.


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