Asian Americans are underrepresented at executive level in finance despite enjoying higher employment rates.
Bloomberg reports that Asian Americans are hired at a much higher rate than their proportion of the general US population.
However, Asian Americans aren’t climbing to executive positions at the same rate.
According to Equal Opportunity Commission data, Asians comprise of 12% of professionals but only 5% of executives in corporate America.
In Goldman Sachs, Asians represent almost 30% of their professional employees and over 20% of the total workforce. However, just over 10% of executives are Asian.
Citigroup’s professional employees comprise of over 20% Asians but barely over 10% at executive level.
JPMorgan Chase has just over 5% of Asians working in executive positions, despite having 20% of their professional employees who are Asian.
In total, four of the biggest US banks have less than 15% of their Asian workforce in executive positions.
