Bringing clients back in: Homophily preferences and inequality on Wall Street

Using qualitative data from a cohort sample of 76 current or former Wall Street professionals, I argue that the perception that clients prefer homophily with their service providers shapes Wall Street careers and contributes to gender inequality. I also reveal how some women on Wall Street partially insulate themselves from biases against them by deliberately avoiding positions that are most dependent on client relationships. I hypothesize that the strength of client preferences for homophily in service providers in the Wall Street context is related to the high status of this service profession and its clients.