Diversity programs have become a key recruitment tool for top investment banks to attract more women and minorities. However, recent changes in affirmative action policies have brought uncertainties. This article will analyze the 2024 diversity programs of top investment banks, their effectiveness and potential impacts.
Current status of top i-banks’ 2024 diversity programs
Major investment banks like JP Morgan, Goldman Sachs, Morgan Stanley already opened 2024 summer internship opportunities through dedicated diversity programs and events months ago, targeting sophomore students. For example, Goldman holds an annual Possibilities Summit as a pipeline program for several weeks. Although the court rulings challenged the affirmative action rationale behind those programs, their current status remains active and open to applicants.
Effectiveness remains despite legal challenges
The Supreme Court ruling against affirmative action at Harvard and UNC sent some shockwaves regarding the future of corporate diversity programs. However, investment banks show a strong commitment, at least for the near term. Many events aiming to advance women in finance are heating up. Diversity will continue to be a recruitment focus thanks to its proven ability to foster innovation and growth.
Possible long term changes and trends
If legal actions succeed in halting explicit considerations for gender and race, corporate diversity programs may evlove to focus more on socioeconomic status, disability status, veteran status or take subtler approaches. Pipeline programs targeting talented sophomores may weigh academic and skill factors more heavily. Asian/Indian minorities may benefit from reduced racial preferences.
Despite uncertainties, major investment banks will continue diversity programs through 2024 that create opportunities for women and minorities, with a special emphasis on the sophomore student population.