Why Mia Matters

Mia’s vacuum was a great invention. It helped others all around the Marsh clean up their biggest messes. But the reasons Mia got funding is not only because of her great invention – it’s because she was lucky enough to meet Heather who introduced her to the right investors.

But Mia did find Heather, a female investment banker, who would help her secure financing from investors who didn't care if Mia was a girl or a boy, a turtle, a lizard or an alpaca. In the Marsh, there is no discrimination.

Financing in the real world is not as simple. Investors tend to favor entrepreneurs who look like them, and most financial professionals fit the same demographic. Mia the Marsh Mogul is here to help fix that by sparking an interest in finance in all kids.

The Imminent Need to Diversify

I began to notice the lack of diversity in banking when I starting interning at banks and asset management firms. Twice, I've worked on an all-male (except me), predominately white team. I initially thought this was because I chose small and medium sized institutions. Maybe the bulge brackets had better luck attracting diverse talent?

But it appears they lack diversity on their staff as well: Of Goldman Sach’s senior managers and executives, only 22% are female, 2.6% are black, and 3.9% are Hispanic or Latino. At other banks – big and small – the issue remains. Most financial professionals look the same.

This is an issue for everyone because it weakens the financing system. In 2016, the Center for Global Policy Solutions reported that since most financial institutions are run by white men - who tend to favor those similar to them for financing - America is losing out on over 1.1 million minority-owned businesses, 9 million potential jobs and $300 billion in collective national income. As a country, we can’t afford to keep missing out on ideas and inventions of over half our population. We can’t afford not to diversify the banking field.

Me outside of my new workplace in Chicago

A Turtle with a Dream

Along with many other socioeconomic inequalities, I think banking lacks this crucial diversity because its unfamiliar to so many people. Kids are told they can be a teacher, a doctor or the president. But an investment banker? I’ve tried explaining my job to my friends at home, and they still think I’m an insurance agent. Kids have little chance understanding what a banker is unless they know one.

I wrote Mia so that all kids can have the opportunity to learn about the world of finance. As Mia walks them through her financing journey, she'll show them why investment professionals are important to everyday life and, by extension, why kids everywhere can dream of becoming one. Hopefully some of these dreams will turn into careers, and more funding can be allocated based on ideas, not race or gender.