What Happens To Connection Hires?
What ever happens to the kid who gets all of his internships and/or first job because his dad knows someone?
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He becomes a financial advisor.
They turn tricks for $15 a pop.
His dad gets him a PE gig.
As long as the father keeps rising, I don't see why the son wouldn't be dragged along (barring him being a complete fuck up)
Retires with trust fund and travels the world after finding out he doesn't "feel like" working after a few years.
this is accurate. Former head of IB trading(C-level)'s son got in(family friend), stopped working after several years to kiteboard professionally
Wish I could do this
He'll be managing you despite being less competent.
Is the kid smart? If so, he or she excels. Starting on 3rd has its advantages. If not, they just kind of exist and/or get arrested for drugs.
Chances are, as long as the connector (dad, mom, uncle, cousin) stands strong, he will be successful no matter what happens. A good network and strong person skills can get you further than you think in this space - technical skills really only gets you so far. Some of the biggest tools sit in powerful seats in this industry - boggles my mind sometimes, but in that context, the GFC and everything starts to make sense.
Bill Ackman “started on 3rd” and he worked out. All depends on the person.
But did he really work out in the end?
Pershing Square is suffering a lot. But I would venture to say Bill Ackman's level of success by conventional standards is really high up there. He is a billionaire after all, which seems to be the holy grail of success financially.
While it's gratifying to imagine that those kids end up as screw-ups, they're largely just as smart and hard-working as you and me. They do well, as a result.
https://en.m.wikipedia.org/wiki/Chase_Coleman_III
That’s what happens
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