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For past generations of Hispanics in the United States, becoming part of a corporate entity was sometimes viewed as “selling out.” But for second and third generations, that attitude is changing.

Many Hispanics came to the United States to take advantage of college education, and young Hispanic professionals these days are beginning to reap the benefits. Not only are they climbing the corporate ladder at higher rates than in the past, many are becoming business owners in sectors where Hispanics were previously underrepresented—technology, engineering, finance and law.

Roberto Cornelio, 51, director of the chamber’s Hispanic Entrepreneurship Center, says it’s not just mom-and-pop businesses, either.

“Traditionally, the Hispanic business community focused on providing goods and services to the Hispanic community,” Mr. Cornelio says. “That’s changing. It’s still an important part of our community, but people have been exposed to many other opportunities. We’re seeing people go into technology, and a number of Hispanics have opened professional services business.”

A Chicago Business article quantifies the shift:

• Between 2003-2008, Hispanics in management, business and financial operations rose from 5.9% to 7.5%
• In the same period, Hispanics in chief executive positions rose from 3.3% to 4.8%
• The Illinois Chamber of Commerce has grown 1,000% in the last several years
• 6,787 Hispanics earned MBAs in 2007, making up 4.6% of the degree-holders

And still, there’s a long way to go:

• Hispanics comprise about 15% of the state of Illinois’s population, but only 4% of Illinois businesses are Hispanic-owned (the number is growing, however)
• Hispanics hold 234 seats on Fortune 1,000 corporate boards, only 2.3% of all seats
• There are just six Hispanic CEOs represented in the Fortune 500
• 71% of Fortune 500 companies have no Hispanics on their boards

Many Hispanic business leaders quoted in the article believe that Hispanics will continue to push for more recognition in the business world. Says Leopoldo Lastre, president of the Hispanic Lawyers Assn. of Illinois, “We will see more gains as long as there are opportunities. We’re not looking for the bar to be lowered.”

Click here to read the full article.