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It happens but it's usually people who are well-qualified, well-prepared on the right timing and the connections just help them through the process.

It's really not "here's my deadbeat kid who needs an internship this summer" and much more of "oh my son is a sophomore at an Ivy and interested in banking, can you connect him with the right people"

Realistically 90%+ of people get BB IB through "connections" because you are required to network to get in, so whether it's a family friend or an older alum helping you, you do need people to help you out in some way. The number of people who just apply and get a job from the application alone is minuscule, outside of diversity programs.

 

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