Nepotism and Meritocracy

Just want a pulse check - how rampant is nepotism and what are the attitudes towards it at your firm? By nepotism I mean the hiring of analysts/associates/interns that somehow involve that individual’s parents or relatives. (Perhaps the parents are a client, employee, or social contact). Curious if it’s more rampant at private / smaller companies versus large public ones, or if the culture around it has shifted at all in recent years. 

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