Examined differences between Black and White managers concerning promotion rate and perceptions of social support. 127 managers in the financial services industry (mean age 33 yrs), including 44 African-Americans, completed surveys concerning the social capital areas of racial similarity and social tie strength, and the human capital areas of education and training. Results show that Black managers reported a slower rate of promotion and less psychosocial support than did White managers. Participation in company training significantly predicted reported promotion rates, but race remained a significant predictor. Race moderated the relationship between human capital and promotion rate and indicated discrimination against Blacks. Social capital did not predict promotion rate. Black managers reported having less social capital than whites. No differences were found between Blacks and Whites in their receipt of career-related support. It is concluded that organizations underutilize a subsection of their workforce by failing to promote Black employees into positions for which they are qualified.