A report has revealed that managers placing as much im are
portance on the way an applicant is dressed, as they are to their
qualifications. Snobby international firms are refusing to hire talent from
underprivileged backgrounds because they do not follow tradition, a report
says. Managers can often place as much importance on speech, accent, dress and
behaviour as on skills and qualifications.
Firms are also recruiting from a small pool of elite
universities and hire those who `fit in' while ignoring talented but less
advantaged candidates, according to a Social Mobility Commission research.
Its report says, “Relatively opaque codes of conduct extend
to dress. To provide one example, for men, wearing brown shoes with a business
suit is generally considered unacceptable within investment banking and
corporate finance. Issues relating to dress may seem superficial and relatively
simple for individuals to adopt. But interviewees suggested they do play a
material role in the selection process as demonstration of `fit'.“
Banks mostly hire from a only select handful of
universities, including Oxbridge and the London School of Economics.
The report stated that the requirement to do internships
benefits those with `informal networks' and erects a further barrier to entry. Alan Milburn, Commission chairman, said, “Bright,
working-class kids are being systematically locked out of top jobs in
investment banking because they may not attend elite universities or understand
arcane culture rules. It is shocking that some investment banks still judge
candidates on whether they wear brown shoes.“
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