Research reveals a troubling disconnect in professional development: 76% of professionals believe mentors are important to growth, yet only 37% actually have one. JP Conte traces his entire career trajectory to mentors who provided something his parents couldn’t—insider knowledge about higher education and professional pathways.
“I grew up in a modest household that had big dreams and big aspirations, but we didn’t have a lot of resources,” Conte shares in an article on mentorship and giving back. “What we did have was a lot of love and good family, good connections, and people who helped me along the way.”
His father’s career as a tailor and clothing salesman serving Wall Street professionals created relationships that transformed into mentorship opportunities. These executives offered internships, professional guidance, and critical advice about college applications and career development. “They gave me internships, mentoring, good advice, and it really helped close the information gap, which exists when your parents don’t go to college or aren’t on that track,” he explains.
The Economics of Mentorship Access
The statistics demonstrate why this matters beyond individual success stories. Workers with mentors report being well-paid at rates of 79% compared to 69% for those without mentors. More striking, employees participating in mentorship programs experience salary increases 25% of the time, compared to just 5% for non-participants.
Among millennials, who will comprise more than 75% of the workforce, 79% view mentoring as essential to career success. This isn’t sentiment—it demonstrates understanding that career advancement often depends on guidance from those who have navigated similar paths.
JP Conte understood this from experience. As a first-generation college student, he lacked the insider knowledge about college admissions, financial aid, major selection, and career planning that students with college-educated parents receive naturally. The mentors his father’s professional relationships provided filled that gap, offering practical guidance about decisions that would shape his trajectory from Colgate University to Harvard Business School.
Systematic Programs Replace Individual Luck
What Conte received through fortunate circumstances, he now works to provide systematically. The Conte First Generation Fund, established at 11 universities including Colgate and Harvard, provides scholarships, mentorship, and resources for students who are the first in their families to attend college, as detailed in research on his first-generation student strategy.
The scale of need is substantial. Approximately 8.2 million first-generation undergraduate students comprise 54% of all undergraduates, yet only 26% complete their degrees compared to 82% of students with college-educated parents. This completion gap isn’t about capability—it demonstrates the information asymmetry Conte experienced firsthand.
His involvement extends beyond funding. “Every year, I go to New York and give a presentation about private equity, the industry, and how these students can get into this sector,” he notes. His firm opened internship positions for program participants, providing direct exposure to careers many had never considered accessible.
The approach demonstrates that mentorship creates measurable advantage. Organizations investing in mentorship programs report stronger retention, faster skill development, and higher employee satisfaction. For JP Conte, this isn’t philanthropy separate from business operations—it’s recognizing that closing information gaps creates opportunities that benefit individuals, organizations, and the broader economy. Replicating the support he received ensures that access to mentorship depends on systematic programs rather than individual luck.