| African-Americans have been unable to gain traction in the financial services industry and are underrepresented across all segments. There is underrepresentation of African-American males in the banking industry with less than 3% of its leaders being African-American. The purpose of this phenomenological qualitative study was to understand what perceived social and cognitive factors influenced the career paths and development of African-American male managers in banking. A phenomenological approach was employed to investigate the reflections and underlying meanings of lived experiences, beliefs, perceptions, and judgments of 10 adult African-American males. To better understand the essence of their existence within the banking sector of the financial services industry, the study involved the utilization of social cognitive career theory (SCCT) to investigate the influence of various cultural and socio-psychological factors on their career development. Interview data were analyzed utilizing Moustakas' method of phenomenological induction and the results were used to accentuate the influence of cultural and socio-psychological variables in shaping career processes among African-American adolescents to support the cultural validity and specificity of the SCCT model. Fourteen significant themes related to the career development of African-American male managers within the banking sector were extrapolated from the interviews. The themes were: pragmatism, happenstance, altruism, personal agency, networks, discrimination, mentors and or sponsors, self-identity and or self-awareness, education, professional acumen, white privilege, intimidation and or no frame of reference, microcosms of society, and capitalism. The findings indicated support of the use of SCCT as a theoretical lens to view the career development of African-American male managers within the banking sector. Future research could build on the current inquiry by expanding the sample size and depth of study to include quantitative analysis, thereby allowing for a more comprehensive view of the industry and the consciousness of those involved. |
