Does nepotism still exist at BB banks?
Do people still get promoted, hired, or not fired based on nepotism, like having a dad who's an MD or is that a relic of the past at this point?
Do people still get promoted, hired, or not fired based on nepotism, like having a dad who's an MD or is that a relic of the past at this point?
Career Resources
At certain internal buy-side roles within JPM/GS/MS, yes. Fairly exclusive places to land and many of the people who get these roles know "someone" or networked with the right seniors. There is one specific group I'm thinking of that does this.
del
Merchant Banking. Although many internal IB employees do lateral into Merchant Banking. A lot of the external hires are likely through connection and at times, nepotism. Not nearly as lucrative as it once was in the 90s/00s but appears to be better hours/optionality to pursue different opportunities as an investor rather than an advisor at the senior level. The internal "PE group" at BBs legitimately competed for WSJ-headline worthy deals with megafund PE firms up until the mid 2000s or so.
https://www.wallstreetoasis.com/forums/what-happened-to-the-merchant-ba…;
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