White shoe

White shoe,

Definition of White shoe:

  1. Denoting a company, especially a law firm, owned and run by members of the WASP elite, generally regarded as cautious and conservative.

  2. A law firm, brokerage, or other company, that is considered one of the leading companies in its field, typically in the Fortune 500, and has been in existence for typically at least 100 years. A white shoe firm previously indicated a company consisting of primarily upper-class white employees, and the term originated from a popular white shoe that was often worn by upper-class individuals at Ivy-League universities in the northeast. This stereotype is no longer true today, and some of the popular white shoe companies include Goldman Sachs, Morgan Stanley, and PricewaterhouseCoopers.

Meaning of White shoe & White shoe Definition