“Every bank is happy to hire a young Asian who will work double hard and is good at math and analysis,” said a Morgan Stanley employee who asked for anonymity to speak candidly. “As time goes on however, I noticed how most of the people I knew in Wall Street never really progressed past VP level, and many were laid off when cost-cutting rounds came.”
His explanation for this phenomenon is two-fold: Parents of Asian Americans drilled a set of principles into their children — study, work hard — that gets you past the first few hurdles at an investment bank, but that doesn’t necessarily help people advance beyond that. Further, little emphasis is given to so-called soft skills like public speaking and finding mentors, things needed at higher levels, he said.
https://www.cnbc.com/2021/05/21/why-asian-americans-on-wall-street-are-breaking-their-silence.html