According to an article from The City, Asian and gay actuaries face severe workplace discrimination. The article, written by Craig Chu, cites a study from the Society of Actuaries (SOA), which found that Asian and gay actuaries are less likely to be promoted and more likely to leave the profession than their white and straight counterparts.

One quote from the article states, “Asian actuaries, specifically, were found to be underrepresented at the management level, with only 6% of management positions held by Asian actuaries, despite making up 11% of the profession.” This statistic highlights the disparity and lack of representation for Asian actuaries in leadership roles.

Additionally, the study found that gay actuaries were likelier to leave the profession and less likely to be promoted than their straight counterparts. Chu writes, “The study found that gay actuaries were 2.5 times more likely to leave the profession than straight actuaries and were less likely to be promoted to management positions.”

This discrimination is not only unjust, but it also harms the diversity and inclusivity of the actuarial profession. As Craig Chu points out, “Diversity and inclusivity are crucial for the actuarial profession, as it allows for different perspectives and approaches to problem-solving, which ultimately leads to better outcomes.”

Risman & Risman, a New York City employment law firm, is aware of this discrimination and works to support all employees who wish to work in an environment free of discrimination. If you or someone you know needs the assistance of an employment attorney in New York, our team will be honored to provide legal counsel and representation. Call us today at 212-233-6400 to schedule a free consultation with our team.

Source: Chu, Craig. “Actuary: Asian, gay discrimination persists in profession.” The City, 25 Jan 2023.

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