Essay on LGBT Rights on Wall Street - 891 Words

Two important trends facing Wall Street are its expansion of LGBT employee rights over the past decade and its entrance into non-traditional banking centers. These trends are interrelated and deeply affect the LGBT community. As Wall Street has greatly improved its treatment of LGBT employees, it has an opportunity to share this accepting attitude as it expands into new markets. The 1980s were notorious for rampant homophobia on Wall Street, where traders routinely screamed â€Å"faggot† on the trading floor and a closeted culture prevailed throughout firms. In 1983, a small group of gay bankers formed an anonymous support group entitled the New York Bankers Trust. Bankers Trust meetings were held in private homes and mailings were†¦show more content†¦The article discussed visible changes inside Wall Street, including LGBT networks, gay recruiting, diversity training, and improved policing of non-discrimination policies. Since 2006, this change has accelerated, with many banks offering â€Å"gross-up† wages to make up for the unfair tax treatment of gay couples. New York banks have pursued LGBT-friendly policies outside the confines of their offices as well. Large financial donors were pivotal in passing New York State’s 2011 same-sex marriage bill. In addition, many banks have publicly supported the â€Å"Coalition for Workpl ace Fairness†, which advocates for nationwide legislation to promote LGBT equality in Federal laws. I attended pre-MBA diversity events at many banks this summer and saw the acceptance of Wall Street first-hand. I met senior bank executives who attended LGBT pride celebrations and recruited me to come to their bank. I believe openly gay and lesbian employees can have successful careers on Wall Street thanks to the changes that have taken place over the past decade. As this change has been cemented on Wall Street, it can provide broader benefits to society. As banks expand into emerging markets and non-traditional banking centers, there is an opportunity to promote gay rights in these areas, as they have done in New York State. For example, Goldman Sach’s fastest-growing North American office is Salt Lake City. The state of Utah does not offer discrimination protections to LGBT Utahans andShow MoreRelatedThe Civil Rights Movement : Harvey Milk1583 Words   |  7 PagesMarsha P. Johnson, a transgender woman of color who lived during the civil rights movement, is credited for throwing the first brick during the Stonewall Riots of 1969. Her choice to stand against police brutality in a time when most psychiatrists still viewed any break of the status quo as an issue or mental illness would eventually lead to the reformation of detrimental and unjust Lesbian Gay Bisexual Transgender (LGBT) policies and the nullification of sodomy laws. 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