These are the people taking your spots

While people on WSO wail against BIPOC hires supposedly taking spots away from "more qualified" candidates, both of Rupert Murdoch's youngest daughters will be summer analysts at Goldman in 2024. These are the people taking your spots: children of billionaires who get everything handed to them. Think about that the next time you complain about black women entering finance. 

 

Disclaimer. I went to to a random state school, poured a year* into securing a summer analyst offer doing all the networking coffee chat shit. Most BB/EB’s didn’t give me a chance at an interview bc I only had a 3.7, landed at a super low tier MM bank, spent 2 years there’s closed a couple deals, now at a solid MM PE shop.(well aware how lucky I am to have made it here) Didn’t benefit from any sort of nepotism whatsoever but I’ll be dammed if I don’t help my son/daughter in any way that I can. Family over everything, nothing else matters.

 

I want to both downvote for being inaccurate and upvote for being funny

 
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So what you're telling me is that these two girls (whom both go to Ivy League schools) and are daughters of a billionaire WILLINGLY chose to do a really shitty job (let's be honest about what IB is) instead of coasting on an easy degree / career path and leaching off their dad?
Sounds like they're pretty driven to me and I wish them the best of luck of this summer.

 

That's assuming that they actually accept a full time offer and do their 2 years like everyone else. If they do, sure I'll give em credit for that but most likely they're just using the SA position to pad their resume before entering a different line of work. 

(whom both go to Ivy League schools)

Also lol. Bud, they're there for the same reason they got a Goldman internship.  

 

Most diversity kids I’ve interviewed through recruiting would not even be able to get into their state school yet are at top Ivies. The rich kids at top ivies are rarely dumb as there are too many other smart rich kids available for those schools to pick from. If they set a floor at you need at 1400 on the SAT for acceptance they could easily fill it with rich kids. They would never come remotely close to their diversity numbers on the other hand if they admitted every diversity that scores over 1400 unless we are counting Asian women/white dudes from Brazil/Argentina as diversity.

 

More like they forgot what the point of life is… If they wanted the grind so bad they could’ve started a business or something

 

Honestly kinda respect it. Arent they each set to inherit at least a billion yet they choose to do this shit for a whole summer instead of fking around in mykonos

 

A GS IB stint is like Yale 2.0. It’s just another credential they can throw on their resumes for the rest of their corporate careers. They’ll do their 1-3 years at GS and then go to some Ivy MBA and they’ll have knocked out all the credentials that careerist strivers love and admire so much before they hit 28 per the plan. It has nothing to do with IB as a career and if you think certain people don’t get preferential treatment at GS, you’re nuts. That job isn’t going to be shitty for them at all. 

 

I get some preferential treatment, but are we really thinking the level of treatment needed for two silver spoon-fed people is available to really anyone else?

 

I do not care what’s happening with the world, Americans are idiots. The level of ignorance and stupidity is beyond comprehension. Maybe you should’ve been more educated and informed about your country’s history. Maybe have this conversation instead in person.


Thanks,
Rest of the World!

 

Then she will sue for damages, sexual harassment, and emotional distress from the toxic environment that Goldman Sachs has created. Other than will complain about the lack of sleep, ask another associate and analysts to help and explain basic economics concepts to them. A posh women who probably gotten to univ through daddy’s money, sleeping and party, they won’t last long. They get fucked over by sheer speed and intensity. Am here for it. 😅!

 

People wrongly harp more on diversity than nepotism on here for sure. Both should be addressed to make things more fair. There is a solution that would largely eliminate both. It’s not going to be liked though but would almost entirely solve for both if implemented and there is adherence. Weigh skills tests much more and then do blind interviews with personal info removed and ban asking personal questions. Interviews could be recorded and randomly audited for adherence. Short of that, you could eventually outsource the whole process to AI but we are not there yet. 
 

Unfortunately, I don’t think big corp nepotism will go away and therefore, amongst other reasons, people will always advocate for diversity.
 

Personally, I saw a couple really crazy cases of nepotism that made me disappointed. One that sticks out is a guy whose application was rejected - he sent a half a page, poorly formatted and worded resume with a crazy low GPA. After rejection, he was still able to get an offer because his dad was an exec. He showed up with his full time class and the people who reviewed his cohort of apps from his school were shocked.

 

Nepotism is older than the IB itself and even with its existence, many normal people were able to get positions. It doesn't matter that one's father is golf buddies with Jamie Dimon and David Solomon, if you're a retard, you won't get through the door. Diversity is a whole new thing. It's about discriminating within the group of people without parents with influenced friends. It's about giving something to someone to greenwash the company's brand. If diversity candidates are as good as everyone else, big companies just need to go recruit in non-target places and put everybody to the same test.

 

You act as if they just take random diversity candidates on the street and give them a job. Every single one is a high achiever in their own right , more than qualified to do IB. They get priority in recruitment because after BLM, banks turned around and realised 95% of their personnel was straight white, even in some of the most diverse cities.

Stats will also show an increase in performance alongside the increase in diversity hires, you people forget the job isn't rocket science, out of 100 candidates for 1 spot at least 30 of them would likely be able to do it lol. 

Diversity candidates meet the requirements, so they hire them instead of the 100th white dude with the identical resume and background they've seen thousands of times. Its really that simple

 
supergoon

Stats will also show an increase in performance alongside the increase in diversity hires, you people forget the job isn't rocket science, out of 100 candidates for 1 spot at least 30 of them would likely be able to do it lol. 

Lol this is not true at all. Time and again I've seen diversity candidates fail miserably. And there are no such stats.

 

"we'll burn down more cities if unqualified DEI candidates aren't hired"

What a great organization 

 

Folks love to act like it takes so much to be in IB. Chill out, buddy. Do not fracture a finger trying to align logos and format the deck. Do not let your brain overload with all the addition and subtraction you need to do in a model. 

Doesn't take much to be "qualified" 

 

In a way, these girls are qualified on their own, or soon will be. They will have they very own billion  dollar personal portfolios which they could entrust to GS's wealth management group, making the internship a good deal for GS. I don't expect them to actually work,  but in client development ( with themselves as client) they have already done the job.

 

well they will result in more fees for GS, whereas hiring a kid with a 3.4 from buttfuckU because of their demographic is purely dilutive in every sense. So while both are ethically wrong, only one is a detriment to the business. Also whoever said they’re willingly putting themselves through a shitty time is a retard. They will go home at 5pm because they know none of their superiors will have the balls to make them stay deep into the night, lol.

 

definitely not. they’re there for status and the firm wants to give those staffings to people who will stay at the firm. the job will look like a regular 9-5 to them

 

Murdoch gave GS the lead advisor role on his 70 billion dollar sale to disney. Dont think there are as many interns in the world that can provide value like that

 

Mate I don’t think they’ll be doing that shit anyway.

 

The idea they aren't qualified is that their dad is a billionaire? I don't follow the logic, can you explain? 

What are the academic stats on non-BIPOC legacy admits vs BIPOC admits at Ivy League schools? The Harvard suit had this data. Weird you DEI fans / legacy haters never post it. 

 

If you want to talk data, didn’t that study show a large portion of white students were statistically unqualified and getting in because of donations/athletics/legacy…

 

Not at all. First off, it wasn’t a “study” it was a court case and what has happened is that people have cut the data in a million ways to try to justify DEI since the stats were so damning. The reality is that when you cut it simply, eliminating DEI and legacies would have a net impact of near 0 on how many whites were admitted (slightly more males, less females), but dramatically decrease Hispanic and black population in favor of Asians (broadly) and very slightly white males. 

 

the actual good jobs in this industry at top shops have more great talent applying than there is space. (and you can get paid working anywhere not just top PE/EB/BBs or whatever) new hires are often selected based on their social skills and ability to relate well with the existing team/interviewer. most finance jobs are not rocket science. THAT’S why diversity hiring is a thing. because people self select for people like themselves (including candidates) and you end up with a bunch of the same kind of people/who think too much in the same way and CLIENTS (the reason why you’re paid in front office) aren’t all white men (or whatever the majority group is). a great client service business (which is what banking is at the end of the day - buysiders have clients too btw their “LPs”) has people on their team from different walks of life. no one is taking anyone’s spot and this whole conversation just needs to die

 

Air traffic controllers in the US, for one example of many, are being hired on the basis of ‘diverse qualifications’, there was an expose on this and many legal proceedings following, and it’s still an unresolved issue. So no, it isn’t just finance number-shufflers affected by these absolutely disgusting hiring practices, but fields which fundamentally deal with life or death situations. “Too many whites == bad!” They seemed to do fairly well for the last however many hundreds of years, so what gives now? One is either qualified or not, it’s pretty insulting to think “minorities” (not relative to world population share) can only succeed if they’re artificially given a leg up. Either way, can’t wait for the favelafication of North America, it truly cannot come soon enough. Some people won’t learn until they put their hand on the stove, and it’ll be too late by that point anyways. Enjoy the future you’ve crafted for yourselves.

 

I kind of want to give them props. Ivy League schooling and they want to work in a soul destroying IB career when they could have just coasted (granted they have a nice fallback if they flame out). They are better people than myself. If my dad was billionaire I would probably be a coke head lunatic leech the likes of which could only be surpassed by Hunter Biden, That dude is in a league of his own.