Finance nepo hires
Curious to hear which areas of finance you guys see the most nepo hires. Heard of a lot in IB (London).
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Personally where I've seen / heard it the most is actually in tier 2 and 3 cities.
Definitely true of the Philly market.
Real Estate PE without a doubt...
Rothschild/Lazard/GS/MS/JPM
People just openly brag about hiring their -insert relative whose profile sucks here - in networking events at my school in Canada.
Was quite shocked at first, but used to it now.
In NY - We had an intern who's dad was the partner of the PE firm that we won a huge sellside mandate for. His resume had typos and he was pretty bad. He got a full time offer
Just the way the game works unfortunately. Seen it more than once
PWM and real estate seem to have a particularly high number of family/friend hires
Sons and daughters of established bankers or global heads in all areas can get access to any internship at most of bb firms.
Otherwise wealth management is the clear cut nepo job for most ‘finance’
children
Seems like general consensus is that WM has the most nepo babies
M&A at GS, JPM, and others in Seoul (KOR).
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