Bridgewater launches fellowships to boost race, gender diversity
WESTPORT — Bridgewater Associates is launching a fellowship program aimed at diversifying its future talent pool by offering an introduction to financial services and networking opportunities to first-year college students from groups underrepresented in the industry.
The Westport-based firm’s Rising Fellows initiative focuses on students of color, women and members of the LGBTQ+ community. Bridgewater, the world’s largest hedge fund, plans to draw participants from a range of universities including historically Black colleges and universities and work with diversityfocused recruiting partners such as Out for Undergrad, BLK Capital Management and Prep for Prep.
“As we continue to explore ways to make our industry more diverse and accessible, the Rising Fellows Program will help launch new relationships and start encouraging future stars as early as their first year of college,” Alan Bowser, Bridgewater’s chief diversity officer and cohead of the Americas region, said in a written statement. “By leveraging our unique network of clients in tandem with DEI [diversity, equity and inclusion]-focused organizations and universities, we believe Rising Fellows will be a driving force in helping us accomplish that objective.”
Rising Fellows will comprise sessions held remotely on weekday evenings from Feb. 14 to March 4. It aims to provide students an introduction to financial services, help them build skills to understand investing and the global economy and allow them to apply their lessons through projects guided by Bridgewater’s investment professionals.
In addition to forming relationships with Bridgewater employees, the fellows will each earn a $2,500 stipend for their time in the program and be able to forge connections with the firm’s clients, according to the firm. Graduates will be considered for future opportunities at Bridgewater, while their resumes and projects will also be packaged and shared with clients and alumni for “access to a wider range of potential roles,” according to the firm.
After completing the program, subsequent opportunities for fellows will include invitations to a number of Bridgewater events and speakers series. In addition, the firm said it will host “bespoke” sessions led by executives to give advice on career-related topics.
Bridgewater also said fellows will be eligible to participate in their sophomore year in the firm’s “immersion” program, so that they could gain even more exposure to its business.
“Diversity of thought, background and identity are incredibly important to the work we do, however, as an industry we often look to solve the DEI issue in the post-grad talent pool as opposed to educating students about our industry when they are just charting their college paths,” Robyn Shepherd, Bridgewater’s head of corporate engagement, said in a written statement. “We are looking to change this by not only committing to giving participants robust exposure to the industry early in their college careers but also maintaining engagement with these emerging professionals.”
Applications are due by Jan. 3, with further information for applicants available at www.bridgewater.com/ risingfellowsprogram.
In Bridgewater’s current workforce, 36 percent are women and 27 percent identify as members of minority groups — including 3.5 percent who are Black/ African American, 7 percent who are Hispanic or Latinx, 15 percent who are Asian and 1.5 percent who are members of other minority groups, according to data on the firm’s website. In total, 54 percent of the firm’s personnel is either a woman or member of a minority group.
In the past few years, 40 percent to 50 percent of all offers to those coming out of Bridgewater’s internship program have gone to women and 20 to 30 percent have gone to those in minority groups.
Bridgewater ranks No. 1 among hedge funds in the amount of assets under management. It manages about $150 billion in assets for institutional investors, including public and corporate pension funds, university endowments, charitable foundations, “supranational agencies,” foreign governments and central banks.