Ever witnessed the wrong person getting the wrong job?

The recruiting process feels like there is no opportunities for a bullshitter to make his way into IB, but it must've happen.

Do you guys have any examples of someone making it in the industry but getting caught being worthless in the job?

Speaking of Interns primarily, but also post-MBA analysts/associates.

 
Funniest

yea had some idiot from my school get in into a BB (no experience, asshole person), he was only asked behavioral and got into it because he was "diversity" even though he was fully white (his mother was from Spain). This diversity recruiting is making me want to like dick so I can qualify for an easier interview and have better chances.

 

Sexuality is a spectrum. There’s nothing stopping you from claiming to be bi. That being said, is that really how you want to break in?

 

no lol I was joking, I'm tired of people who are like.01 Hispanic and black,  with daddy's money going in through diversity 

 

Does being gay or slightly hispanic really raises your chances of getting in?

Here in Europe looking at the diversity of Analysts K doubt it would do much.

 

You should come to Asia esp HK/China and see the hiring practices. Every single fucking new hire is a "princeling" nowadays. (The so called Sons and Daughters Program) Even after paying hundreds of millions of dollars in fines, banks seem to have no intention cleaning up their shit. It's like they don't give a f about what the regulators across the pacific ocean think. 

 

All the time and at all levels. I know it’s hard for many young’uns here to imagine but there is tons of deadweight/ineptitude at higher levels in this industry. They have ridden the tide or the coattails of someone else or mommy and daddy are/were a huge client/ran a country/state etc. That is, unfortunately, life. 

I used to do Asia-Pacific PE (kind of like FoF). Now I do something else but happy to try and answer questions on that stuff.
 

Happens a lot.

From clueless juniors hired because of well-connected rich parents to just in time hires at hot HFs, have seen the wrong person get hired again and again.

The only thing is, they usually fizzle out. Most of the ppl who get there for the wrong reasons end up not making it. They didn’t put the effort into getting the job in the first place, don’t put what’s needed to get ahead and more than often blow themselves up.

The intrinsically motivated may initially take longer to get the right opportunity, but they have staying power.

 

A lot of college students (sophomores especially) look good on paper but are clueless about finance or what employers want. 
I know a girl recently who had okay grades and good EC's but is a certified retard with financial concepts, and landed an internship at an AM place.
After a month, the MD fucked her off because she just turned out to be untrainable.

 
Most Helpful

The recruiting process feels like there is no opportunities for a bullshitter to make his way into IB, 

One of the more misguided assumptions I've seen on WSO, which is really saying something given the increase in shitters on the site since the pandemic and the anonymous role out. This assumption is wrong for a variety of reasons: 

1)  Target Recruiting - Both a case of interviewers getting starry eyed by the name and management being able to shirk blame when the new hire sucks.  No one will blame you if the Harvard kid doesn't pan out. Putting your neck out for the state-school kid usually isn't worth it.

  •  This is more of a problem at tier 2/3 banks. Tier 1 banks deal more with the "my dad knows your dad" issue that comes with target recruiting

2) Diversity recruiting - horrible given the unequal quality of the hiring pools. Nothing else to add as it has been discussed at length.

  •  A problem at all banks, but increases in severity the deeper into the pool you go. 

3) Internal Hiring - managers can just fast track a hire and limit resource usage if hiring internally. This person is also less likely to leave .  In big companies with limited visibility on other teams/functions, hiring managers occasionally don't understand the role the person is actually doing. A credit analyst can mean 100 different things at a place like BoA. technicals will weed out the real clowns but if the hiring process is expedited and the interviewers are bad, a moron can fall through the cracks. 

4) Bullshitters Hire bullshitters - more of tier 3 bank issue, but plenty of people fail forward especially places where junior/mid level talent is not encouraged to stay/is not replaced (MBA hiring).

  • You see this problem at tier 3 banks where juniors only leave to be promoted at some other tier 3 bank.
  •  This problem also exists at good banks with bad groups. 
 

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