Racism in the American Corporate World is Rampant. I don't understand how some people here don't seem to understand that. If you work for Corporate America, you will know how bad it is. Suprisingly it is pretty nepotistic as well. I don't blame them, its their country. Goldman was founded by german jews, Lehman Brothers used to be a dry goods store in the south owned by some European Immigrants before it turned into a financial juggernaut. Essentially, Financial Institutions want to retain their culture and history. This is one industry where culture is so crucial and they are very conservative. Goldman Sachs is completely white dominated and they are the most prestigious Investment Bank on Wall Street. Having a lot of minorities at the managment level will, in their minds, pollute their culture. In fact I have heard through friends that to get a job at Goldman, you have to Interview them like 12 to 14 times before getting an offer. In the end, every Goldman staff that interviewed you has to like you and believe that you will fit their culture. In the end what is more essential? your knowledge in the subject or your ability to demonstrate that you can embrace the Goldman Way?