How much preference is given to alumni?
When you apply to a bank, how much preference is given to you if several of the bank's senior bankers are alumni of your school (let us assume the school is at least a semi target)? I would imagine that the alumni connection would get you a first round interview or maybe even a superday, but would a bank choose a less-qualified candidate for FT or SA just because he/she went to a school that most of a bank's bankers went to?
quals are subjective. if one of those senior guys is willing to go to bat for you because he either knows you or you made an effort to reach out and impressed him, then yes. the value of having alums is they can evaluate what you did in context of the school (school newspaper is very legit, this finance club is the most selective and focused, sailing team works their ass off and wins despite having fewer recruits)
it also might affect which schools they add to their "target" list over time, but that not immediately helpful. if you have alums, you must talk to them for it to be of any value. ideally not in a group setting
What value do those alumni have if you never networked? Do they give you any preference then?
They do matter, and they matter all the way to deciding who gets passed down work during the SA and who has a higher chance of getting an offer at the roundtable. They always matter.
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