Ariel Investments: Black Excellence or Example of Selling Out

[Frangala]

if you said tech ...maybe but anecdote based on an industry such as management consulting ?

mgmt consulting alumni = ivy league art graduates right ?

There are people of various backgrounds in management consulting it's not all MBAs and STEM advanced degrees. If you prove yourself as being able to solve business cases and think the way they want you think you can get through it's not too far fetched to have a liberal arts major in management consulting and after a few years in management consulting make the transition to private equity. I am not saying most of them are liberal arts major but there are some who are "non-traditional".

 

[hatealot]

There are people of various backgrounds in management consulting it's not all MBAs and STEM advanced degrees. If you prove yourself as being able to solve business cases and think the way they want you think you can get through it's not too far fetched to have a liberal arts major in management consulting and after a few years in management consulting make the transition to private equity. I am not saying most of them are liberal arts major but there are some who are "non-traditional".

Liberal Arts from a highly targeted school that already has various barriers and filters to even attend them.

 

[blackzeus]

Been doing some deals out in Gary, Daley seems to be trying to gentrify that area, formed a company called Tur Partners to put it all together, using another nonprofit as a front but I forget the name. Guess who's one of the principal members All skinfolk ain't kinfolk

 

[Macallik86]

Good conversation. I definitely understand OP's frustration and questioning of the firm. On the other hand, I also know that African Americans typically do not follow Math/Statistical degrees (5% of AA Majors are math/statistical), so we are a minority within which only a minority is applicable for this job.

With that said, @Larry Lambo their internship program does look like it caters disproportionately to African-Americans relative to our demographics as per this picture taken yesterday:

http://www.pionline.com/article/201...comes-back-interns-for-homecoming-celebration

As someone who was interested in finance personally, from my perspective the only thing that matters is the ability for you to make them money. They are not looking to hire someone who is behind on the curve as a charity case, they are looking to make so much excess money that they can give money to actual charities to bring their taxes down. I'd focus less on playing the racial background of a company, and more on doing what it takes to be noticed in a positive manner.

 

[MalikX]

Ivy/Oxbridge schools are considered the top talent .... is this about performance/doing what's best for the firm
or something else ?

Perhaps they've tried to recruit diaspora africans from Ivy League and gotten their offers rebuffed.

Too many variables at play here.





You are assuming that top tier black talent would just up and leave Goldman Sachs/Meryll Lynch to work for Ariel ?

Perhaps their compensation package is weak...maybe they are more risk averse in their trading strategies

So why would an NYC black breh "trade down" to a boutique firm in Chicago ? because it's black owned ?

Most employees are selfish and care about their livelyhood not this esoteric vision of black excellence

There are more variables at play here than we can speculate.

With that same logic, why would a white man "trade down" from Goldman or Morgan or an elite shop to go work at a boutique firm in Chicago? There are way more elite shops to work for than Ariel Investments if you're a white man. Why can they convince white men, who have more opportunities in finance, to work at Ariel but somehow they can't convince black men to do so, who have less opportunities and are largely locked out of the old boy network?

 

[Cynic]

00000000000000000000000000008230

With that same logic, why would a white man "trade down" from Goldman or Morgan or an elite shop to go work at a boutique firm in Chicago? There are way more elite shops to work for than Ariel Investments if you're a white man. Why can they convince white men, who have more opportunities in finance, to work at Ariel but somehow they can't convince black men to do so, who have less opportunities and are largely locked out of the old boy network?

There's no same logic ....

Re read the posts and look at the demographics.

 

[Houston911]

YOu had me too

"Married a Fay white guy 25 years older than her"

 

[Larry Lambo]

As someone who was interested in finance personally, from my perspective the only thing that matters is the ability for you to make them money. They are not looking to hire someone who is behind on the curve as a charity case, they are looking to make so much excess money that they can give money to actual charities to bring their taxes down. I'd focus less on playing the racial background of a company, and more on doing what it takes to be noticed in a positive manner.

All businesses exist to make money. I don't expect any firm to hire people as a charity case, but to look for qualified people that would fit with the company culture. My assumption is that there are a plethora of black people that would be qualified for what they are looking for, but I could be wrong.

While I agree with a company should do what's best for the bottom line, I do think black owned companies can give highly qualified candidates of their own race a first look. Major corporations go to Black MBA conferences, and work with black professional organizations, to support diversity initiatives. I would think a black owned firm could reach out to utilize similar methodology.

However, It's their company, and they can do what they want. But when we talk about black owned businesses being pivotal in the elevation of the black community, companies like this may not be as helpful as expected. If they aren't giving brothers and sisters jobs moreso than a white owned firm, then for the community it's pretty much the same as a white owned firm.

 

[Hard Times Nakamura]

My moms told me to reach out to Melody on LinkedIN. I'm like you bugging.

I have had young dudes from every race reach out to me and I throw them a little bone because White and Hispanic dudes have actually helped me more than my own people sadly in my career.

Just like every other Black owned firm it is a Bougie club and only certain negros are allowed in the rest of us got to work that cotton in the damn fields.

 

[Warren Moon]

Ariel investments is conscious as hell.

I'll give u a little tidbit into my life. I interviewed at black owned investment firm that has just under a billion assets under management. I had zero experience and frankly thought I had it just for bn black.

I went in naive and they grilled me hardcore. I didn't get the job bc I didn't put in the work to know shyt.

End of day black owned firms have to get the best of the best to come in. They can't have losses bc they're money will get pulled way faster than other firms. In saying that they do not have the luxury of taking too many chances on folks. You may see it as c00ning, I see it as making as building a foundation for excellence and to expect excellence from blacks.

Honestly op I had ur same thoughts then I started really talking to blacks in the investment world. They expect people who are top knotch bc they have to be top knotch just to get money. They are the best of the best and u have to be just to get to that level. Why bring someone in who doesn't have the same mindset? And in saying that the best of the best black candidates in the investment world don't actively seek out black owned firms. I could give u info but them Nikkas ain't c00ns they have put on a lot of black owned firms with their own capital and through introductions through relationships they have

 

[invalid]

I think many of the reasons why Ariel's demographics are the way that they are has already been touched on by most posters in this thread. But to add, I think we sometimes underestimate the power of pedigrees in this field. IB/MC/PE/VC/HF are the most sought after industries to work for in the world and so companies within these industries only want to hire the best. The thinking for most on the street is that the best and the brightest will end up at HYPS and so they restrict their recruiting to those schools because most of the screening has been done by their respective admissions departments. Its also incredibly efficient for these firms to restrict recruitment to a handful of the top schools. Not to mention the most sought after candidates have not only attended HYPS but also come from boarding schools like Groton or Andover. Which means that a majority of the individuals that continue to pursue opportunities within these fields already come from socially elite backgrounds.

Taking this into consideration, how many of us that are in the job market have academic pedigrees that include boarding schools + HYPS? Not too mention the unspoken things that are signifiers as to whether or not one would be a "good fit" such as having lacrosse or crew as extracurriculars? Not many of us. Companies are pressured to give off the perception that they only hire the best candidates by both clients and competitors. This then breeds a culture where majority of its recruitment is restricted to a handful of schools and not really based off the merit of a candidate. It's just the reality. Ariel has to appear competitive and that means following a recruitment pattern similar to it's peers. Like another poster mentioned, it would be a setback and a hit to it's reputation if they appeared to deviate by taking in candidates from non-target schools. Those who do get in obviously did so through some type of connection, but again usually still have sterling backgrounds.

If it means anything, many of Ariel's interns are black. However, most of them come from within John's network of upscale black professional families. Most who intern don't onboard full-time because they are able to snag full-time positions at GS/MS or some other top firm.

 

[Larry Lambo]

Last couple of posts dropped some real ish. I can respect where they are coming from.

I think John Rogers might be more down for the cause, while I still think Mellody is suspect. I would guess if it wasn't for her, maybe their would be a few more black executives.

Regardless, I think this is good dialogue and we can't take black owned institutions for granted, without at least questioning them if their hiring practices look a little funny.

But I'm going to still give John his props for creating a successful business in a very difficult and competitive environment, and providing opportunities to others in various methods.

 

[invalid]

I don't know much about Mellody's personal background but John and his family have a record of service to the black community in Chicago that goes back several generations. So at least for me and the people that I know, where his loyalty lies is not even up for debate.

But to your point, you can put more black folks on and still be very successful. Primo is a member of my church and I think he's even wealthier than John.

Capri Investment Group

Capri has more people of color in top leadership positions and they also have an African strategy. Granted this is a different industry, but still to your point, you can be successful by hiring top black talent.

 

[Hard Times Nakamura]

Ariel investments is conscious as hell.

I'll give u a little tidbit into my life. I interviewed at black owned investment firm that has just under a billion assets under management. I had zero experience and frankly thought I had it just for bn black.

I went in naive and they grilled me hardcore. I didn't get the job bc I didn't put in the work to know shyt.

End of day black owned firms have to get the best of the best to come in. They can't have losses bc they're money will get pulled way faster than other firms. In saying that they do not have the luxury of taking too many chances on folks. You may see it as c00ning, I see it as making as building a foundation for excellence and to expect excellence from blacks.

Honestly op I had ur same thoughts then I started really talking to blacks in the investment world. They expect people who are top knotch bc they have to be top knotch just to get money. They are the best of the best and u have to be just to get to that level. Why bring someone in who doesn't have the same mindset? And in saying that the best of the best black candidates in the investment world don't actively seek out black owned firms. I could give u info but them Nikkas ain't c00ns they have put on a lot of black owned firms with their own capital and through introductions through relationships they have

The average brotha is not walking up into an investment firm with ZERO knowledge on finance or any type of capital investments, etc.

They don't have to be THAT selective especially if they see a light in a Brother and the capability to rapidly ramp up or a track record of already doing so.

Most young brothers I speak to fresh out of college are very pragmatic minded much more so than I was at their age. So give them the benefit of the doubt I really don't think Ariel Investment needs to be quite as exclusive as they come off to be.

 

[Warren Moon]

The average brotha is not walking up into an investment firm with ZERO knowledge on finance or any type of capital investments, etc.

They don't have to be THAT selective especially if they see a light in a Brother and the capability to rapidly ramp up or a track record of already doing so.

Most young brothers I speak to fresh out of college are very pragmatic minded much more so than I was at their age. So give them the benefit of the doubt I really don't think Ariel Investment needs to be quite as exclusive as they come off to be.

They really do. Most these firms get money from pensions plans bc they are black. 90% of the money comes in bc of that. These ppl don't wanna work for them. shyts a political play most ain't privy to how all this works. But if u wanna put in the work to truly understand how this ecosystem for black investment firms work look at papers written by National Association of Investment Companies

To be frank most on here have no idea wtf they are talking about. I don't have time to write dissertations so the truly interested can click that link and research on how this world operates.