Please tell me how outrageous this is, but am I stupid for not trying to leverage a family connection to get into IB? I have a very close relative who is a VP at a top BB, but I don't want to be known as "that guy" who just got in because of family or any other nepotism claims. I guess it's just an ego thing where I want to do all the grunt work on my own. How should I be leveraging this?
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leveraging the family connection will only get you an interview, it will depend on you to get the offer or not, I will do it and try contacting him and first sending him a message about that you are interested in pursuing a career in IB that if you can give you feedback on your resume and go from there.
If you want to get into IB then your relative could be the path of least resistance.
I'd try to re-brand your image to him (depending on how he already regards you) as a young professional, smart, hard working, with interest in finance. If you're close enough with this person spend time with them. Golf. Drinks. Casino. Whatever.
Goal is to make sure he doesn't see you as Betsy's piece of shit, trouble causing, good for nothing bastard child anymore. Make him feel comfortable and confident that when he puts your name in front of the right peeps that you're not going to fuck it up.
Like half of every incoming summer analyst pool is the son of one of the bank's client's CEO's or some Vice Chairman at the bank. Banking is rife with nepotism. At the end of the day, a VP connection isn't even that big a deal. Leverage every single in you can get your hands on.
Successful senior bankers, ie the people hiring you, make their livings based on forming and leveraging connections any way they possibly can. If you aren't willing to take advantage of a personal connection like this, IB maybe isn't for you.
Yes you should leverage your family connection. Getting to IB is competitive, and the recruiting window is not that long. It's fine to be "that guy" - people forget about it, and frankly, it's pretty common. Why make things harder for yourself?
It's better than asking "Should I have leveraged my family connection?" a few months down with no offer in hand.
I do have to commend you for your idealism but that is not the way the world works. If you have a connection, leverage it. Having seen how recruiting works from the other side, nobody goes through the front door if they don't have to.
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