"The associate role is typically a post-MBA role, and it is considered a career-track role," said Curtis, referring to the Master of Business Administration. Citi is betting that non-MBA candidates will bring different, sector-specific expertise that will help their investment and corporate banking teams. Its program also expands its recruiting network as banks face cutthroat hiring competition from peers and tech companies, which has pushed up wages. They are also under pressure from investors and policymakers to increase diversity, which has traditionally been lacking among senior ranks. In 2018, about 26% of employees in the U.S. financial services industry were women and 1% were Black, according to data from the U.S. Government Accountability Office. In 2021, 40.6% of Citi's mid- and senior-level staff globally were women, up from 37% in 2018, its disclosures show. In the United States, 8.1% of Citi's mid- and senior-level employees were Black, up from 6% in 2018.