<p>I used to think there were a good number of asians in IB. Yet, now that I think of it, maybe there really isn't. I know asians go to the same professions, accounting and medical more so than not. Are asians generally interested in IB and jobs and finance related jobs?</p>
<p>honestly, asians aren’t well represented in IB and never will be because it comes down to the connections, which are mostly held by rich white families. thats why asians lean toward more technical areas (engineering or medical) because it revolves more around skill than family influences and money</p>
<p>Someone sounds bitter.</p>
<p>You want to be in IB, PE, VC, B/D, BB, whatever? </p>
<p>First, you have to have the right attitude. You can’t get there crying about why you have a disadvantage. There’s no money in that. </p>
<p>Second, you can’t be a quitter. Quitters are losers because they can’t even step up to the plate. </p>
<p>Third, You have to believe you belong and you have every right to be there and to be #1.</p>
<p>Fourth, He’s right you do have a disadvantage but that makes it easier. You don’t have to get into Harvard, or Haas to make it big. You just have to get your education. That is an advantage when you understand that now matter how well educated you are they won’t readily let you in. You have to make your self sharper, smarter, and harder. You may have to be more innovative and entrepreneurial to pioneer your way. Because your route harder there is little (that is fair and legal) that they can do to hold you back.</p>
<p>Lastly, often it’s the people being held back that hold themselves back. Cliche coming: If you think you can or you think yous can’t, you’re right! If you don’t try because someone tell you it’s impossible (or you tell your self that) then of course you will never make it.</p>
<p>I know plenty of asians going into IBanking. If your smart and likeable, you’ll do fine (previous internship experience helps too).</p>
<p>First off, there are Asians that are very connected in finance. I know Asian kids that got FT offers at BBs and hedge funds largely as a result of family connections. In some cases these offers were for Hong Kong or Japan offices, but still very solid (think MS/GS IBD). </p>
<p>Second, most white kids like most Asian kids do not have family connections on Wall Street. My friends from Ivies did not have an easy time getting an internship. They had to network and do really well academically. In some cases, they still didn’t get an offer. </p>
<p>Yes, I know kids from high school that went to non targets and got BB offers despite being pretty dull, simply because they come from WASPy old money families. They’re in the minority, but certainly exist.</p>
<p>I will say, if you don’t come from a connected family, getting into IB from a total non target is nearly impossible. If you can get into a top tier MBA down the road you’ll have no trouble, however.</p>
<p>In my undergrad finance class right now, over 50% of the class is Asian while the percentage at the overall school is much lower. I know plenty of Asians currently working in the field too. IB is not the white shoe old boy’s club anymore.</p>
<p>I found Asians to be pretty well-represented… Not sure what some of you are talking about. It’s no harder for Asians to break in, all else equal.</p>
<p>I have noticed that Asians, especially Chinese, tend to choose accounting rather than finance. At the same time, other Asians, such as people from Pakistan or India, more likely to choose finance.</p>
<p>ib612 - From what I’ve seen, Asians are even better represented in IB than they are at Ivies.</p>
<p>Toshtemirov - I think you are living in the age of the distant past, or you have never seen Asians at elite schools. Even 10 years ago, I noticed the percentage among Asians going into IB relative to total number of Asian students is higher than for whites at Harvard and Stanford. Maybe Asians at state schools prefer accounting.</p>
<p>From my experience in the industry Asians are very well represented at the junior levels in banking where quantitative and analytical skills are important to success in those roles…however, they are disproportionately under represented at the upper echelons (VP, MD, etc.) as the skillsets required are softer (sales ability, people skills, leadership, people management, etc.) and I’ve come to notice (although this may sound racist) that my Asian colleagues at the junior levels honestly lacked those skills. </p>
<p>I would say that the issue of not being a “wealthy connected WASP” as ib612 asserts is pretty inaccurate. Obviously there will be some bankers that are there because they are connected due to their family name, etc. (i.e. the Allen family) but the vast majority of people at the top levels are there because of their “soft” skills. Likely these softer/social skills have led to form their own large networks and connections but those connections weren’t “inhereted” from their WASPy background. In reality, I’ve noticed that a lot of top people on the street were former jocks at top tier schools (Ivy+)…they have the basic quant/analytical skills to get them through the junior years but their soft skills propel them into senior levels.</p>
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I’m Asian. And this poster speaks the truth.</p>
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<p>Honestly this is a pretty dumb comment…like I said Asians are very well represented in IB (at the junior levels)…at most of the top banks where my college friends and I work/worked >30-50% of our analyst classes were Asian. However, like i said, from experience, it seems that its not a lack of connections but rather a lack of people/soft skills that prevent most Asians from reaching the highest levels of Wall Street.</p>
<p>Perhaps about 70 to 80 percent of the undergrad student body of Haas is Asians and many of them work as investment bankers after college.</p>
<p>“…however, they are disproportionately under represented at the upper echelons (VP, MD, etc.) as the skillsets required are softer (sales ability, people skills, leadership, people management, etc.) and I’ve come to notice (although this may sound racist) that my Asian colleagues at the junior levels honestly lacked those skills.”</p>
<p>The truth is people like to work with and promote those who share their cultural values. This is evident in the fact that most finance execs in Japan are Japanese, most in Hong Kong are Asian, most in NYC are White, most in London are white, etc. WASP don’t dominate the upper echelons in the US, Jewish people do.
I’ve noticed the best of Asian grads from Ivies (ones smart & confident & assertive) tend to prefer Hong Kong office of BB’s. Many of those Asians even prefer elite Chinese boutiques on the mainland where they can rise to the level to be making over $1mil/year in less than 5 years. So, I think the Asians working in NYC & London are neither the most capable nor the most ambitious.</p>
<p>Totally agree IvyPBear…I should have noted that my experience was primarily NYC and London. :)</p>