FT HF recruiting reliant on networking like IB?

For programs such as Millennium's FT Equity Analyst 2026 and P72's Academy Investment Analyst Program, how much does networking play a part in landing an interview? I heard HF is more meritocratic than IB, but what about for recruiting FT after a SA internship in IB? I'm going to a MM IB this summer and want to recruit for HF out of my masters program, how should I go about this? 

Also, what is the best prep program for HF? And is there any programs that I should be weary of? I always see people bashing P72 academy on her so I want to be mindful.

Thank you for any responses!

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