People who want to be investment bankers in London could be disappointed if they wear brown shoes. A report shows the investment banking industry follows old rules about how bankers should behave. Researchers found that the industry followed unclear codes of conduct. They wrote: "For men, the wearing of brown shoes with a business suit is generally considered unacceptable…within investment banking."

The report suggested that working class people had to change their behaviour to fit in. One banker said: "I felt like my accent was a bit out of place, so I changed it." The study said the industry discriminated against those who did not go to elite universities. It said: "Bright, working-class kids are being systematically locked out of top jobs….It is shocking…that some…still judge candidates on whether they wear brown shoes…rather than on their skills."