Ana: »There is a lot of racism«
Nine persons tells how difficult it is getting into the Swedish finance industry if you have a foreign background, and that advancing in your career is just as hard. Here is Ana’s story. Her name has been changed to protect her identity.
Ana comes from southern Europe but has lived and worked in finance sectors all over the world. She moved to Sweden a few years ago and now works for a Swedish bank.
Early on she noticed a clear difference between the Swedish finance industry and other countries she’s worked in.
Eight times higher unemployment rate among foreign born
– Sweden is not very open to international talent. Which is bit shocking, it was not what I expected coming to the Nordics. But there is a lot of racism, which people don’t admit, Ana says.
She thinks the Swedish finance industry resembles a men’s club, where contacts, personal connections and background affects who gets hired and promoted.
– If you want to grow within the company you have to have the right surname and the right nationality. If you come from outside Europe, it’s almost impossible.
Ana highlights that using language skills and local awareness as criteria for promotion can disadvantage employees with foreign backgrounds. Requiring Swedish might make sense for customer facing positions but seems discriminatory in back-office positions where English is the primary working language.
I am still European and white; I think it’s easier for me than for someone born in Sweden who is black.
But the discrimination in the Swedish finance industry is not only linked to language and nationality, Ana says. It is also a matter of religion and race.
– I am still European and white; I think I it’s easier for me than for someone born in Sweden who is black.
The biggest problem is that people won’t admit there is any form of discrimination, Ana thinks. The Swedes have a self-image of being very tolerant and aware, but that is not really the case.
– I call it the Swedish denial. I think Swedes are so politically correct that they don’t know how to behave around people of color or with a different background, they are afraid of making a mistake. Instead of seeing the benefits they only see possible conflicts, Ana says.
Discrimination is not only a problem for the people exposed to it, but also for the future of the whole sector, she thinks. Right now, when the economy is in a recession, the demand for new employees is lower, but further on the sector will need more people.
– The Swedish finance industry is small; it needs international talent. Instead of feeling endangered you should look at the possibilities, people with different background can bring something new, Ana says.
