Financial services 'becoming more meritocratic'

Financial services 'becoming more meritocratic'

7.7.2008

The financial services industry in the UK is becoming increasingly meritocratic as more positions are filled by people from lower social classes, it has been claimed.

According to research by the recruitment firm Joslin Rowe, an increasingly high proportion of people working in London's financial district are named Donna, Wayne, Sharon or Charmain.

From this the company infers that the City is becoming less elitist and that there is trend among financial service companies to employ individuals who are right for the job regardless of their social background.

An increasing number of businesses are turning to online recruitment in order to find the kind of employees they need.

"You could argue that the City is becoming ever more meritocratic and that London's financial services sector is now drawing workers from social classes formerly excluded by its elitist image," said Dev Majithia, associate director of Joslin Rowe.

Meanwhile, Karen Gill, founder of the everywoman online resource for business women, recently suggested that females are massively under-represented at boardroom level in the UK.

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