While reading about the current scandal at Société Générale I learned that the perpetrator, Jérôme Kerviel, was unusual because he was not a Grandes Ecoles graduate as were most others holding similar positions at the bank.
Commenting on this, Hélyette Geman, a professor of mathematical finance at ESSEC, was quoted as saying that “I had students who have a hard time getting jobs at top French banks because of this elite system we have in France. In the U.K. and U.S., it’s less of a club based on where you went to school when you were 19 or 20.â€Â
If true, this seem to me to be a serious indictment of the French system.
I would appreciate your thoughts on Professor Geman's opinion.
Is France more elitist? If so, to what degree is it elitist (minor, major, critical) ? What do you believe are the consequences of such elitism? What, if anything, should be done?
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