Crazy Nepotism (rant)
In a non-US developed country and just got dumbfounded and pissed at the level of nepotism/favoritism whatever the fuck it is called.
At school (target) events, former IB associates would mention how if they are interviewing for 5 seats, some MDs they never worked with would come and drop a candidate (semi-qualified relative) and reduce the seat by 1-2 every time.
And at evening networking events, some Ds and MDs, under the influence of alcohol, boasting how their insert quite-doubtful-to-see relative here joined their team with self-incriminating details.
I used to think it cannot be that bad.
And some people actually said they have felt interviewer sabotage their interviews to choose their favorite/related candidate.
I thought people were just making excuses until now.
A BB role had popped up - one FT seat in this shit market. I was lucky enough to get an interview after securing a referral from head of a coverage group based in NYC - a relationship I had formed and nurtured for over a year.
Reached SD-type final round, connected later with one another guy who did SD. Dude said he felt one MD was purposefully setting him to fail.
Personally, I also felt it was my weirdest interview ever, but I put the blame on myself thinking it was a tactic and I failed to connect. And I just thought the guy is making excuses for a subpar interview (this was before offer was sent out).
Then later when connecting afterwards, the third person who got the offer happened to accidentally slip that it was the MD whom he knew as something who informed him of the offer. And basically said “accidental tongue slip” and insert elaborate dubious explanation here when we probed further.
Recently discovered it was the same MD that interviewed me and the other guy like we were kindergarteners.
And both of them also went to insert name of non-target uni you have never heard of here.
The other guy who didn’t get had the most impressive resume and deal experience and I had the best technicals and people skills among the three. And the least impressive guy among the three finalists got picked.
I don’t even know how many qualified ones were thrown out in earlier rounds.
Why waste people’s times with 4 rounds of interviews with take-home case study and get people’s hopes up when you know whom you are hiring beforehand?
Thank you for reading through. Just pissed and had no one I could share that would understand.
Sucks to suck lol. It is what it is in developing markets and you just have to learn to deal with it and know that it’s literally not your fault other than being born into the wrong last name. At the end of the day, the deals that are coming through will probably also be through nepotism. Why take the technical kid whose family has 100k in their name at most over the stupid kid whose dad will bring in a 500m ipo?
But this kid doesn’t even fit the profile of a client’s kid or have the right last name.
Just the other couple moneymaking MDs from my school had been recently poached by another BB or sth and this was the sole one responsible for hiring at the moment from what it looked like.
It’s still a developed country despite smaller market, this is like third world-level nepotism, I know cause I am from one.
I am more pissed about the false hope and waste of ~50 hours of our time for interview prep, interviews, and case study when they already knew who they were hiring.
Don't get mad, get motivated
This was what I used to think and say just until my recent discovery into the intricate nature of deception and trickery.
I’m almost 27 bro. How am I going to get into IB from business school if one seat barely opens up and people actively remove candidates to hire theirs. Just hire yours without posting for a job. Don’t waste our time.
Besides, you gotta get mad from this to keep getting motivated.
Happens in the US as well. Have seen plenty of senior folks give jobs to children of clients or friends
Thanks for sharing. I am aware it is something that cannot be escaped but at least there are enough seats floating around in the US to serve both nepotism and merit-based candidates.
There are already so few seats here, and I am more pissed about the false hope and waste or ~50 hours.
You sound like a whiny little bitch. I would never want to work with you. Life isn’t fair - get over it.
You have a victim mindset and I wouldn’t be surprised if you never achieve your goals, if you have any at all
When you move from a broken country to a developed one where “dreams come true”, I think it is normal to have some shock.
Your dad as an immigrant would understand this more, 2nd gen kids don’t.
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