Network / Hook-ups in the industry
Hello everyone, I was just sitting here..depressed about no FT offers.. and I was thinking about how bunch of my friends with hook-ups in the industry get into the IB f/o roles soo easily... so I just had a random question.
What would be an easier way to get a full-time entry level position in "SELL-SIDE",
IF,
1)your dad's a MD at a sell-side BB (Goldman, JP, MS) 2)your dad's a CIO at a large buy-side firm (Fidelity, PIMCO, BlackRock) 3)your dad's a CEO for Fortune 500 company which is in process of doing a major IPO or M&A with a BB
Obviously, if your dad was a MD at Goldman, he wouldn't be able to offer you a job there since the company doesn't allow a family member to be hired..but he would have tons of connections to key individuals at other sell-side firms.
In the other hand, if your dad was a CIO at a large buy-side firm, he must be doing lots of business with sell-side BBs, and while they strike up a HUGE deal, he can somewhat "pressure" them into hiring his son.
If your dad was a CEO for a multi-billionaire company, and pretty much demand to BB, "if you want the deal to go through, hire my son."
What scenario do you guys think is the BEST?
I think all of these scenarios sound ridiculous. I can't imagine an MD, CIO, or CEO being unprofessional enough to attempt forcing their child onto someone else while negotiating a deal. It's more plausible for them to reach out to a friend at another firm as a favor. Aside from that, if they're forcing their kid onto someone else as part of a deal they're probably pretty embarrassed because the kid grew up wealthy, probably went to an Ivy, and still can't lock down an IB job.
If you cant get your kid into a sell-side job based on any of those 3 scenarios you should be embarrassed. Not even taking into consideration the position of power, to get to that position you will have built a massive network of industry professionals and friends who would generally be happy to help out a friends kid (unless the kid is a total fuck up). Unfortunately/fortunately, that is how the world works. When I have a kid I hope that he will succeed based on his own character and merits but you would be lying to yourself if you said you wouldn't use your leverage to help your own.
Note: I wouldnt be so crass/tacky/pathetic as scenario #3 but I can assure you from experience that it happens although maybe not so overtly.
A dad who is the CEO of an F500, pretty much set for life. Not sure why you would want to go into IB.
all of these are ridiculous, if you had any of these you would know how to utilize IF you wanted to, because I know for some people they like being able to say they did things on there own merit and not piggy back the hard work of there parents.
This post is retarded. What value is this adding to your job hunting? Instead of this bs, why don't you keep networking and looking for more full time position? You might as well add a fourth scenario to your post "Your dad is XY at Z and his son is a quitter"
when i was an intern, i knew that a number of my fellow interns were sons and daughters of mds and clients. it happens more than you think. it's just that most interns will pretend they got in through merit.
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