Bloomberg: Wall Street Claims Success on Diversity—At Least With Interns

Wall Street is looking a lot more diverse -- at least for the summer. This year’s crop of interns is Bank of America Corp.’s most diverse group ever. Women comprise 45 percent of the current class -- up from 42 percent in 2017 -- while non-white interns make up 55 percent. Goldman Sachs Group Inc. and Wells Fargo & Co. report similar numbers. Big banks are relying less on the “friends and family and VIP network" to find interns, and have also moved to the model where most full-time hires come from the summer programs. Bank of America, for example, hired more than 70 percent of its 2017 intern class as full-time employees. Inclusive Viewpoint: Many companies have found success in recruiting diverse internship and co-op classes of students. Companies that are committed to workforce diversity must ensure that all or most of their new hire entry-level employees come from diverse and talented pools of interns – this is what a diverse workforce pipeline looks like.