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      "text": "Asian/Pacific Islander employees had greater representation among junior-level investment professional positions at mid-size firms (31%) and large firms (26%) than at smaller firms (12%).\nFirms that were founded within the last ten years (31%) reported a higher percentage of Asian/Pacific Islander employees among their junior-level investment professionals than did older firms (24%).",
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      "text": "Large firms (23%) and mid-size firms (22%) reported more representation of Asian/Pacific Islander employees in investment positions than did smaller firms (16%).\nAsian/Pacific Islander employees comprised a greater portion of investment professionals at firms in the West (27%) and the Northeast (25%), compared to those in the Midwest (15%) or the South (9%).\nThere was higher representation of Asian/Pacific Islander employees in investment positions among firms focused on multi-stage (25%) and growth stage (22%) than those focused on seed stage (19%) or early stage (18%).",
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      "text": "Representation percentage: 26%",
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      "text": "Regarding junior-level investment professionals, Asian/Pacific Islander employees comprised 26% of these positions (178 employees) in 2022, compared to 25% (116 employees) in 2020 and 20% (51 employees) in 2018. Different types of firms reported different levels of representation of Asian/Pacific Islander employees among junior-level investment positions.",
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      "text": "The representation of Asian/Pacific Islander employees in investment positions increased to 22% (411 employees in the survey sample), up from 19% (331 employees) in 2020 and 17% (156 employees) in 2018. Asian/Pacific Islander employees constituted a significant percentage of investment positions among certain types of firms.",
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      "text": "The most significant disparity of Black representation among junior-level investment professionals occurred in firms focusing on different investment stages. Firms concentrated on the seed stage (19%) and multi-stage (12%) reported much higher percentages of Black employees in these positions than did those focused on early stage (5%) or growth stage (6%).",
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      "text": "When it came to junior-level investment professionals, Black employees constituted 7% of these positions (49 employees in the survey sample), compared to the same percentage in 2020 (30 employees) and 5% (12 employees) in 2018. Black female employees were 3% of junior-level investment professionals in 2022, consistent with the percentage in 2020 and an increase compared to the 1% in 2018. (Figure 4)",
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