A whopping 89% of senior finance roles are held by people from higher socio‑economic backgrounds, according to a deep dive study of eight financial firms. As a sector, there’s work to do on improving social diversity and widening access to young talent from low-income backgrounds.
As one of Europe's leading privately owned banks, Berenberg recognises the role they have to play in shaping a more socially diverse sector and wants to make a real difference. That’s why, in 2021, we worked with the Berenberg team to design ‘Journey,’ a programme giving their people an opportunity to engage with the issue of social mobility and develop their leadership skills, while empowering and upskilling young people from disadvantaged backgrounds.
Journey is a 12-month programme targeting socially diverse sixth form students who aspire to work in investment banking, but lack the access or networks that could help them achieve it. Alongside monthly mentoring sessions where students receive professional insight and support, Berenberg and Visionpath also co-deliver insight workshops and career skills programmes to support their development.
After a successful inaugural year, in September 2022 we welcomed our second intake. A group of 20 students from three London schools have been paired with mentors in different roles across Berenberg, who’ll help them develop the insight and skills they need to secure employment in the sector or a place at university that can set them up for success in the future. To prepare them for their role, we provided all mentors with dedicated training and will continue to provide them with ongoing support.
By taking a long-term view towards raising awareness of social diversity challenges within their ranks, while building confidence and skills among the young people aspiring to join them, Berenberg is making sure inclusion is embedded in their company culture. Not only that: they’re also playing a key role in shaping the social diversity of financial services and bringing under-represented talent into the sector, spearheading a more positive legacy in the industry at large.
Do you want to move the dial on social diversity in your industry? To be inspired about ways your business can make a positive impact, get in touch.
