Success or failure at work depends to a large extent on the kind of networks one maintains. This is equally true for investment banking as any other industry. But what distinguishes one in this industry is the fact that work hours are extremely long, so bonding in groups becomes particularly crucial. Unfortunately, a trait often observed in investment banking is homophily. This is act of finding comfort in only like-minded people. If this bias sticks to the top management, it will further dent the bank as is unfortunately often the case. It leads to problems in talent recruitment and retention as such bosses tend not select people from diverse pools. This ends up stagnating the talent pool within the organization.Source:

https://knowledge.insead.edu/leadership-organisations/how-your-network-can-help-and-hurt-you

Uploaded Date:25 August 2018