How big money seduces Oxford's brains

Champagne parties? £800 a week for a summer job? These are the kind of lures the banks are throwing

"Why on earth would you want to go into banking?" I asked my college friend at his end-of-term house party. "You hate finance and you want to work in the theatre."

The answer was, of course, the money. The splurging City bonuses - with directors awarding each other up to £6m a year and twenty- somethings on bonuses 15 times their core pay, running out of luxury goods on which to spend their thousands.

Last year, Peter Hain called for a redistribution of the City's "grotesque" £8.8bn employee giveaway, and the willingness of this government to curb these monster pay-cheques will for many be the measure of the Brown administration.

But most remarkable is how such excess has trickled down the banking food chain. Roths- child, Barclays Capital and Morgan Stanley pay their undergraduate summer interns around £850 a week. At Goldman Sachs, where secretary Joyti De-Laurey stole £4m from her boss before he noticed, it's up to £1,200. In exchange for working 6am-to-midnight shifts, six days a week, many banks will throw in dinner, relocation expenses and shopping trips to Paris. "I can pay off my entire student debt in a summer and be guaranteed £350,000 within three years," said my friend. "How can you turn that down?"

The competition is fierce. From a pool of more than 10,000 applicants, each of the major banks takes around 200 interns a year. Of those, a quarter will be from Oxford. Academic abilities aside, the Oxford culture of working before breakfast or late into the night is a major draw.

And so the City is certainly willing to part with some of its loose change to win us over. Most university sports teams and larger college boat clubs are sponsored for between £5,000 to £15,000 in exchange for branded clothing, flyers at drinks events and partner versus student fixtures. Lehman Brothers back the Varsity rugby match for around £8,000.

Among the flyers from Ucas last summer, inviting me to take out bank accounts and student travel cards, was an invitation to join a UBS bursary scheme. In exchange for a five-figure package over three years and a mentoring scheme, I would sign up to a summer internship - fully paid, of course. Deutsche Bank runs a similar programme at £3,000 a year.

It was certainly tempting, but with no real interest in banking, I didn't want to start deciding on a career having only just left school. The 5,000-word application essay wasn't particularly appealing, either.

The Oxford Union is also cashing in: it charges £5,000 for firms to sponsor debates featuring politicians and media commentators. Barclays Capital funds film nights, holding a short recruitment lecture before an exclusive first screening. "Everyone talks through that bit," says one student. "But they're obviously keen to get our attention."

The central theme of these subsidised events is, inevitably in a student town, alcoholic. Oxford University Investment and Finance Society (OUIFS) hosts lavish free parties and dinners on the back of sponsorship from Citigroup, Merrill Lynch, Barclays Capital and Credit Suisse, each rated as gold, silver and bronze according to their contribution.

Last term, OUIFS held a Dom Pérignon party at a posh cocktail bar. The tab came to £4,000. "It makes sense," says one society member. "That comes to about £30 a head. These companies expect to spend at least £5,000 for every student they recruit, so this is really pennies." It was followed by a garden party-cum-networking event in Merton College's grounds, billed as Pimms, champagne, strawberries, canapés and summer jazz. "Admission, free. Dress, business casual."

The Union got a similar sum from RAB Capital for its annual Blenheim Palace ball. Winetastings and big dinners are common and one bank gives a bottle of champagne to every student who asks a question at its drinks presentations. It's not just highbrow events, either: it is rumoured that one college has this year secured £8,000 from a European bank for its freshers' week, which, if tradition is anything to go by, is four days of home-made vodka cocktails and fancy-dress discos. "They basically want to get you pissed and chat you up," says one student. "It makes going out in second year pretty cheap."

However, the saturation of Oxford University with loose corporate change means employers are rethinking their strategy. "Banks really aren't as willing to put up 'cash for lash' as they once were," says Ben Tansey, a banking intern and a former president of OUIFS. "They're all Oxbridge graduates who've played the game themselves and they know that if their name goes on 500 ball tickets, very few students will really pay attention."

Mengyi He, a second-year economics and management student, works as a campus ambassador for Deutsche Bank. In between internships she files "marketing reports", advising her prospective employers on which student societies are most professionally run and will get them closest to students. Access among arts students who like to think themselves above "corporate whoredom" is especially prized.

"Banks are being much more original and innovative now," she says. "Citigroup runs a Dragon's Den scheme, where students have to make a pitch for funds. They're very receptive if it's done professionally and can promise to reach a lot of people. One society made £15k in a term from having a very slick presentation - but most students just aren't able to pitch at the level they expect."

And that is all fine, you might think. Stop complaining and down that complimentary Dom Pérignon, comrade: if the banks want to spend thousands on PR for every graduate secured and if these kids want to work 110-hour weeks and risk baldness at 23 for stupendous pay-cheques, so be it. There is a huge rush to be had in gambling with other people's money.

But when the lure of Canary Wharf pulls in students who arrived at college determined to be doctors, playwrights, human rights lawyers, it's a bit depressing. A friend studying Chinese has given up on ambitions for the Foreign Office in favour of the City.

"It's the only chance you get to earn seriously huge money," she says. "It's far easier to get into than other professions, such as politics or journalism, and once you're in you're pretty much guaranteed retirement at 45."

And my would-be thespian friend? He decided Rothschild wasn't for him. "I realised I'd lose my social life, which is one price I don't want to pay. I'll just be poor instead."

This article first appeared in the 16 July 2007 issue of the New Statesman, Chavez: from hero to tyrant
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We need to talk about the online radicalisation of young, white women

Alt-right women are less visible than their tiki torch-carrying male counterparts - but they still exist. 

In November 2016, the writer and TED speaker Siyanda Mohutsiwa tweeted a ground-breaking observation. “When we talk about online radicalisation we always talk about Muslims. But the radicalisation of white men online is at astronomical levels,” she wrote, inspiring a series of mainstream articles on the topic (“We need to talk about the online radicalisation of young, white men,” wrote Abi Wilkinson in The Guardian). It is now commonly accepted that online radicalisation is not limited to the work of Isis, which uses social media to spread propaganda and recruit new members. Young, white men frequently form alt-right and neo-Nazi beliefs online.

But this narrative, too, is missing something. When it comes to online radicalisation into extreme right-wing, white supremacist, or racist views, women are far from immune.

“It’s a really slow process to be brainwashed really,” says Alexandra*, a 22-year-old former-racist who adopted extreme views during the United States presidential election of 2016. In particular, she believed white people to be more intelligent than people of colour. “It definitely felt like being indoctrinated into a cult.”

Alexandra was “indoctrinated” on 4Chan, the imageboard site where openly racist views flourish, especially on boards such as /pol/. It is a common misconception that 4Chan is only used by loser, basement-dwelling men. In actuality, 4Chan’s official figures acknowledge 30 percent of its users are female. More women may frequent 4Chan and /pol/ than it first appears, as many do not announce their gender on the site because of its “Tits or GTFO” culture. Even when women do reveal themselves, they are often believed to be men who are lying for attention.

“There are actually a lot of females on 4chan, they just don't really say. Most of the time it just isn't relevant,” says Alexandra. Her experiences on the site are similar to male users who are radicalised by /pol/’s far-right rhetoric. “They sowed the seeds of doubt with memes,” she laughs apprehensively. “Dumb memes and stuff and jokes…

“[Then] I was shown really bullshit studies that stated that some races were inferior to others like… I know now that that’s bogus science, it was bad statistics, but I never bothered to actually look into the truth myself, I just believed what was told to me.”

To be clear, online alt-right radicalisation still skews majority male (and men make up most of the extreme far-right, though women have always played a role in white supremacist movements). The alt-right frequently recruits from misogynistic forums where they prey on sexually-frustrated males and feed them increasingly extreme beliefs. But Alexandra’s story reveals that more women are part of radical right-wing online spaces than might first be apparent.

“You’d think that it would never happen to you, that you would never hold such horrible views," says Alexandra. "But it just happened really slowly and I didn't even notice it until too late."


We are less inclined to talk about radical alt-right and neo-Nazi women because they are less inclined to carry out radical acts. Photographs that emerged from the white nationalist rally in Charlottesville this weekend revealed that it was mostly polo shirt-wearing young, white men picking up tiki torches, shouting racial slurs, and fighting with counter-protestors. The white supremacist and alt-right terror attacks of the last year have also been committed by men, not women. But just because women aren’t as visible doesn’t mean they are not culpable.  

“Even when people are alt-right or sympathisers with Isis, it’s a tiny percentage of people who are willing or eager to die for those reasons and those people typically have significant personal problems and mental health issues, or suicidal motives,” explains Adam Lankford, author of The Myth of Martyrdom: What Really Drives Suicide Bombers, Rampage Shooters, and Other Self-Destructive Killers.

“Both men and women can play a huge role in terms of shaping the radicalised rhetoric that then influences those rare people who commit a crime.”

Prominent alt-right women often publicly admit that their role is more behind-the-scenes. Ayla Stewart runs the blog Wife With a Purpose, where she writes about “white culture” and traditional values. She was scheduled to speak at the Charlottesville “Unite the Right” rally before dropping out due to safety concerns. In a blog post entitled “#Charlottesville May Have Redefined Women’s Roles in the Alt Right”, she writes:

“I’ve decided that the growth of the movement has necessitated that I pick and choose my involvement as a woman more carefully and that I’m more mindful to chose [sic] women’s roles only.”

These roles include public speaking (only when her husband is present), gaining medical skills, and “listening to our men” in order to provide moral support. Stewart declined to be interviewed for this piece.

It is clear, therefore, that alt-right women do not have to carry out violence to be radical or radicalised. In some cases, they are complicit in the violence that does occur. Lankford gives the example of the Camp Chapman attack, committed by a male Jordanian suicide bomber against a CIA base in Afghanistan.

“What the research suggests in that case was the guy who ultimately committed the suicide bombing may have been less radical than his wife,” he explains. “His wife was actually pushing him to be more radical and shaming him for his lack of courage.” 


Just because women are less likely to be violent doesn’t mean they are incapable of it.

Angela King is a former neo-Nazi who went to prison for her part in the armed robbery and assault of a Jewish shop owner. She now runs Life After Hate, a non-profit that aims to help former right-wing extremists. While part of a skinhead gang, it was her job to recruit other women to the cause.

“I was well known for the violence I was willing to inflict on others… often times the men would come up to me and say we don’t want to physically hurt a woman so can you take care of this,” King explains. “When I brought other women in I looked for the same qualities in them that I thought I had in myself.”

King's 1999 mugshot


These traits, King explains, were anger and a previous history of violence. She was 15 when she became involved with neo-Nazis, and explains that struggles with her sexuality and bullying had made her into a violent teenager.

“I was bullied verbally for years. I didn't fit in, I was socially awkward,” she says. One incident in particular stands out. Aged 12, King was physically bullied for the first time.

“I was humiliated in a way that even today I still am humiliated by this experience,” she says. One day, King made the mistake of sitting at a desk that “belonged” to a bully. “She started a fight with me in front of the entire class… I’ve always struggled with weight so I was a little bit pudgy, I had my little training bra on, and during the fight she ripped my shirt open in front of the entire class.

“At that age, having absolutely no self-confidence, I made the decision that if I became the bully, and took her place, I could never be humiliated like that again.”

Angela King, aged 18

King’s story is important because when it comes to online radicalisation, the cliché is that bullied, “loser” men are drawn to these alt-right and neo-Nazi communities. The most prominent women in the far-right (such as Stewart, and Lauren Southern, a YouTuber) are traditionally attractive and successful, with long blonde hair and flashing smiles. In actuality, women that are drawn to the movement online might be struggling, like King, to be socially accepted. This in no way justifies or excuses extreme behaviour, but can go some way to explaining how and why certain young women are radicalised. 

“At the age of 15 I had been bullied, raped. I had started down a negative path you know, experimenting with drugs, drinking, theft. And I was dealing with what I would call an acute identity crisis and essentially I was a very, very angry young woman who was socially awkward who did not feel like I had a place in the world, that I fit in anywhere. And I had no self-confidence or self-esteem. I hated everything about myself.”

King explains that Life After Hate’s research reveals that there are often non-ideological based precursors that lead people to far right groups. “Individuals don’t go to hate groups because they already hate everyone, they go seeking something. They go to fill some type of void in their lives that they’re not getting.”

None of this, of course, excuses the actions and beliefs of far-right extremists, but it does go some way to explaining how “normal” young people can be radicalised online. I ask Alexandra, the former 4Chan racist, if anything else was going on in her life when she was drawn towards extreme beliefs.

“Yes, I was lonely,” she admits.                                                       


That lonely men and women can both be radicalised in the insidious corners of the internet shouldn’t be surprising. For years, Isis has recruited vulnerable young women online, with children as young as 15 becoming "jihadi brides". We have now acknowledged that the cliché of virginal, spotty men being driven to far-right hate excludes the college-educated, clean-cut white men who made up much of the Unite the Right rally last weekend. We now must realise that right-wing women, too, are radicalised online, and they, too, are culpable for radical acts.  

It is often assumed that extremist women are radicalised by their husbands or fathers, which is aided by statements by far-right women themselves. The YouTuber, Southern, for example, once said:  

“Anytime they [the left] talk about the alt-right, they make it sound like it’s just about a bunch of guys in basements. They don’t mention that these guys have wives – supportive wives, who go to these meet-ups and these conferences – who are there – so I think it’s great for right-wing women to show themselves. We are here. You’re wrong.”

Although there is truth in this statement, women don’t have to have far-right husbands, brothers, or fathers in order to be drawn to white supremacist or alt-right movements. Although it doesn’t seem the alt-right are actively preying on young white women the same way they prey on young white men, many women are involved in online spaces that we wrongly assume are male-only. There are other spaces, such as Reddit's r/Hawtschwitz, where neo-Nazi women upload nude and naked selfies, carving a specific space for themselves in the online far-right. 

When we speak of women radicalised by husbands and fathers, we misallocate blame. Alexandra deeply regrets her choices, but she accepts they were her own. “I’m not going to deny that what I did was bad because I have to take responsibility for my actions,” she says.

Alexandra, who was “historically left-wing”, was first drawn to 4Chan when she became frustrated with the “self-righteousness” of the website Tumblr, favoured by liberal teens. Although she frequented the site's board for talking about anime, /a/, not /pol/, she found neo-Nazi and white supremacist beliefs were spread there too. 

“I was just like really fed up with the far left,” she says, “There was a lot of stuff I didn't like, like blaming males for everything.” From this, Alexandra became anti-feminist and this is how she was incrementally exposed to anti-Semitic and racist beliefs. This parallels the story of many radicalised males on 4Chan, who turn to the site from hatred of feminists or indeed, all women. 

 “What I was doing was racist, like I – deep down I didn't really fully believe it in my heart, but the seeds of doubt were sowed again and it was a way to fit in. Like, if you don't regurgitate their opinions exactly they’ll just bully you and run you off.”

King’s life changed in prison, where Jamaican inmates befriended her and she was forced to reassess her worldview. Alexandra now considers herself “basically” free from prejudices, but says trying to rid herself of extreme beliefs is like “detoxing from drugs”. She began questioning 4Chan when she first realised that they genuinely wanted Donald Trump to become president. “I thought that supporting Trump was just a dumb meme on the internet,” she says.

Nowadays, King dedicates her life to helping young people escape from far-right extremism. "Those of us who were involved a few decades ago we did not have this type of technology, cell phones were not the slim white phones we have today, they were giant boxes," she says. "With the younger individuals who contact us who grew up with this technology, we're definitely seeing people who initially stumbled across the violent far-right online and the same holds for men and women.

"Instead of having to be out in public in a giant rally or Klan meeting, individuals find hate online."

* Name has been changed

Amelia Tait is a technology and digital culture writer at the New Statesman.

This article first appeared in the 16 July 2007 issue of the New Statesman, Chavez: from hero to tyrant