The wealth gap and the lack of black Bermudians in international business – a high-flier speaks
In the second part of a series looking at the wealth gap between blacks and whites, Matthew Taylor examines why more black Bermudians are not making it in international business. Here, he talks to Darren Johnston who is scaling the heights of the accountancy world to get some answers.
As the new Managing Partner at PricewaterhouseCoopers Bermuda, Darren Johnston is a shining example of what can be achieved by Bermudians in big business.
But while the 42-year-old, who oversees 230 staff, is enjoying a glittering career are enough of his compatriots following in his footsteps?
The figures tells us that blacks make up just 33 percent of international business employees and are even rarer at the upper levels.
Yet ask Mr. Johnston whether he feels happy to be where he is now he answers with an emphatic 'Yes'.
But it's a hard slog for anyone.
Educated at Berkeley Institute and Mount Allison University, Mr. Johnston has two accountancy designations and is also a chartered financial analyst.
As he points out, the exams aren't designed so everyone can pass, often it's as much about grit as intelligence, sticking to it when others get distracted.
But those years of sacrifice and discipline are well worth it. "It's wonderful it's opened up the world," enthuses Mr. Johnston.
With his qualifications he can choose from any location around the globe to work. "There aren't many jobs where you can say you have that level of flexibility."
And Mr. Johnston has taken full advantage of his ticket to the world.
He spent five years in Boston and recommends everyone spend time working overseas at one stage in their career.
"It's an eye opener about how things are done professionally and how the world works elsewhere."
For him the stand-out experience from his time in the US was its customer-driven focus as well as its sheer competitiveness.
Asked about the prospects for black Bermudians wanting to follow him into the profession here he said:
"There are a ton of scholarships out there and a ton of opportunities."
But that is not to say everything in the garden is rosy, even though firms spent a significant amount of time trying to convey the true benefits.
"I think the opportunities are great but I don't think we, as a profession, have found a way to convey that message in a way that will increase the numbers.
"If I were to go into CedarBridge Academy and stop ten students and ask them what accounting is about and what the benefits are, most of them would not know."
Boosting the numbers also needs available mentors to help people make better choices and an education system to get people ready, so embarking on such a career is realistic, said Mr. Johnston.
"Right now people are being self-selected out of it."
He said most people he met were happy he was doing so well in big business. There was no obvious stigma of being in a 'white world'.
"But the challenge is to find a way for the Country to recognise the importance of international business and find a way for the population to feel like they can participate.
"If we don't have those two things we are going to have a problem."
He believes far more Bermudians should be taking advantage of the Island's insatiable demand for accountants.
But he believes out of around 900 registered accountants working in Bermuda, only about 250 to 260 of them are Bermudians.
More are capable of joining a profession which Mr. Johnston has previously described as recession-proof for Bermudians given the demand and supply factors involved.
PwC tries to encourage Bermudians into the firm through initiatives such as its Head Start Programme and its summer internship. This year, the firm has doubled its intake of interns to 12.
The firm has 18 Bermudians at associate level, the first rung of the ladder. "In two years, we want that number to double," Mr. Johnston said recently.
Asked if he had encountered racism during his studies and career Mr. Johnston said: "It's always hard to attribute motives to people but certainly there have been situations in my life when one can reasonably draw the conclusion there was an element of discrimination.
"There are always going to be people who make poor judgements, whether its gender bias, race bias or some other bias.
"I personally don't think that's the way the majority of the way people think, but it exists.
"Do I think there were situations where I might have got a different shake if I looked different or came from a different background? Yes."
Beyond his initial anger he simply resolved to not get distracted and do his best.
Recently, Government published figures showing whites earned a median income that was 40 percent higher than blacks.
Mr. Johnston said: "It is not sustainable in a country such as ours if the largest segment believes they are being discriminated against, we have a responsibility to look at this. What can we do individually and what can we do collectively?
"It comes down to leaders of individual companies and organisations to look at their own firms, to show if there is wrong that they are righting it.
"The reality of the situation is if it is not done voluntarily then my history would say that there will be an imposed legislative solution."
l Tomorrow: Figures showing large gaps between the earnings of blacks and whites have angered many. But assessing why racial disparities still exist in the workplace is not a simple matter according to Bermuda Public Services Union leader Ed Ball.