Author: Natalia Lopez

Breaking the Social Class Barrier

Holding an Economics degree from City, my interests have always been skewed toward quantitative subjects. I was anxious to start my EMBA core modules on topics such as Organisational Behaviour. Little did I know that I would learn the mathematical formula that I now use to explain my ambitions during these lessons. In a simplified form, Vroom’s Expectancy Theory of Motivation states that an individual’s drive to pursue a goal is a function of two variables: 1) the strength of her or his desire to fulfil that goal, and 2) the probability that it will actually happen. It looks like this:

Another subject that wasn’t previously on my radar was our module on Corporate Social Responsibility (CSR), but my interest in the topic has flourished. For our CSR coursework, we were asked to analyse BlackRock Chairman and CEO Larry Fink’s annual letter to S&P 500 CEOs. In his 2018 letter, Mr Fink called on companies to take a more active role in addressing societal issues and also emphasised the importance of a diverse board.

This prompted me to browse the C-suite composition of the largest banking institutions in the world. I found that banks continue to make progress on diversity of gender, ethnicity, industry experience, and country of origin. When taking a closer look at the early life and education of randomly picked board members, a pattern emerged. Despite the characteristics that make them unique as individuals, most appeared to have privileged backgrounds that led them to receive similar education. How could they possibly not surrender to group think if they attended the same handful of universities and grew up within the same networks?

The reality is that social class is the ultimate barrier to break and that has nothing to do with gender or nationality. The probability component of Vroom’s formula is important in determining people’s motivation to pursue certain careers. Wealthy people with good contacts will have a greater probability to be successful, hence they tend to be highly motivated individuals.

Natalia Lopez

I cannot remember my childhood friends and I dreaming of going to university let alone becoming a chairperson, or a CEO. That is because, just like thousands of teenagers today in Britain, we had zero perceived probability to achieve these goals. Sadly, society labelled us as lazy but we were just a demotivated bunch of youngsters.

With an extraordinary influence on our global economic and political system, financial institutions are increasingly becoming a dominant force directing the world. How can they take decisions that are in the best interest of people if their boardrooms understanding of society’s struggles comes from an economics textbook?

In my opinion, a truly diverse team is one that is made of different social classes and this is something most corporations are getting wrong. Luckily, the desire component of my Vroom’s formula is bigger than a mountain for which I am highly motivated to achieve my goals. We need to show people like my younger self that it is possible to make their dreams come true. This is not just because equal opportunity is a hardly debatable subject but because, without them, the world is missing out.

Natalia Lopez, Executive MBA 2020

Why I went back to school (and chose the Cass MBA)

My long-term professional goal is to become the CEO of a large financial institution. For that reason, I spent some time researching common traits leaders possess that have climbed up the corporate ladder.

I found that they are all driven, hardworking people that have persevered throughout adversity but the commonality that truly stood out, is that at some point of their lives they all made a decision that transformed the course of their careers.

I knew that I shared these traits with them; however, I was yet to take that life-changing step that would put me on track to fulfil my ambitions. Doing an Executive MBA was that next life-changing step to take, so here I am, on track and ready to squeeze every opportunity on my way up.

My journey before Cass

My name is Natalia Lopez and my dream has not always been to score that top job in the banking industry. In fact, I left school in Spain without qualifications and, having landed in the UK without speaking a word of English, the minimum wage was the first thing that I learnt in this country.

Today I am part of the FX trade technology team at a global custodian bank in Canary Wharf. Given a set of requirements, I configure clients to trade FX products across a number of platforms, carry out test trades and ensure the system architecture is correctly set up to allow the flows.

So, you might be wondering how did I end up having such a cool job in an expanding industry and, more importantly; why is it that I would like to become a CEO? I will reveal all in the next post.

Having obtained an Economics degree from City, University of London, and mentoring for the University, I have worked closely with Cass Business School students for three years. This meant I have been aware of the School’s great reputation for a long time; therefore, I decided to attend MBA related events to explore their programmes (on a side note, this is something I highly recommend if you are thinking of applying for a programme).

First day jitters

I have to be honest though, even after accepting my offer I still felt a bit nervous when I was on my way to the recruitment events. But after five minutes of interacting with the incredible bunch of people that makes up my cohort, I was certain I was in the right place. Have you ever had that feeling? It is great.

During the first week, we were allocated into teams that we would be doing projects with. Sally, Saj, Gemma, Ahmed, Mike, Guillaume and I are Team Cook. We come from different backgrounds which is perfect as each one of us brings something different to the table. We have only been working together for a few weeks but I already know we are going to smash it through the next teaching block.

That is us having a great time at the welcome dinner. I am on the second right 😊

The day after the welcome dinner, we had a masterclass on mind mapping and speed reading. I took this as a hint of the workload we will be given! In only a couple of weeks I have already attended a two-day workshop on presentation skills and another on executive presence (to be continued), both of an excellent quality. So far, I have signed up for Insights into Leadership and the Executive Media workshops, which I am looking forward to it!

I wonder how I will feel when I read back to this blog in two years’ time. At the moment, all I know is that it is going to be a very exciting time in my life and I am going to enjoy every moment of it.

Executive MBA (2020)

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