Is High finance Exclusively for the Privileged?
Please don’t take offense at the title, I simply want to expand on a discussion I came across on a German forum and make it more international. The topic revolved around the role of connections, etiquette, and behavior, which often come hand-in-hand with privilege and wealth. These factors can impact internships, promotions, and overall experiences in the field.
What are your thoughts on this topic? Have you encountered many individuals from working class backgrounds in your high finance career? How does the situation in your country compare, with potentially expensive universities and a heavy reliance on networking for success? Let’s discuss.
One response
Is High finance for privileged people only?
The notion that high finance is only accessible to privileged individuals is a topic of debate that has long been discussed. While it is true that connections and privilege can often play a significant role in accessing opportunities within the field, it is important to recognize that there are also many individuals who have worked hard to break into the industry despite not coming from affluent backgrounds.
It is undeniable that having connections can open doors in high finance, whether it be through internships, promotions, or networking opportunities. Privileged individuals may have access to exclusive internships or mentorship programs that can give them a leg up in the industry. Additionally, the etiquette and behavior expected in high finance settings may come more naturally to those who have been brought up in wealthier environments.
However, this does not mean that individuals from working-class backgrounds are unable to succeed in high finance. There are many stories of individuals who have come from humble beginnings and worked their way up in the industry through determination, hard work, and networking. While it may be more challenging for individuals without connections to break into high finance, it is not impossible.
The situation may vary depending on the country, with some countries having costly universities that may deter individuals from lower-income backgrounds from pursuing a finance education. Additionally, the prevalence of nepotism and reliance on connections may be more pronounced in some countries compared to others.
Ultimately, while privilege and connections can certainly play a role in accessing opportunities in high finance, it is possible for individuals from diverse backgrounds to succeed in the field with hard work, determination, and perseverance. It is important to continue addressing issues of inequality and promoting diversity and inclusion within the industry to ensure that opportunities are accessible to individuals from all walks of life.