This “structural racism” hits every industry — including investment management. To get a pulse on the current state of the challenges faced by investment managers in the AAPI community, the Association of Asian American Investment Managers surveyed 100 investment management professionals and conducted more than a dozen qualitative interviews with executives across the United States.
What the survey found was striking: Some 65% of respondents said the bamboo ceiling has been a moderate to serious problem in their careers. Even with the highest levels of education and success by every other measure, AAPI professionals face discrimination and bias.
GOOD WORKERS. GREAT LEADERS?
AAPI professionals often fall victim to the model minority myth — the belief that they have triumphed over any discrimination to become accomplished in all areas. But that way of thinking ignores ongoing challenges — hurdles that were punctuated during the COVID-19 pandemic as anti-Asian racism and violence grew.
In a spring 2021 survey of Asian Americans, the Pew Research Center found that 45% of Asian adults experienced a variety of outwardly offensive incidents since the start of the pandemic, including racial slurs and remarks that they are to blame for COVID-19.
In the workplace, discrimination can reveal itself in more subtle ways. There, AAPI professionals might have a reputation for doing good work until they seek a leadership role. “Generally, Asian Americans are perceived as smart, hardworking, easy-to-manage employees,” Buck Gee, executive advisor of the Ascend Foundation told CNBC. “The problem with that model is that we’re also seen as good workers, but not great leaders.”
To view full report: https://aaaim.org/goodworkers-notleaders/