Nepotism in Private equity

Curious too. One of the analysts in my class (I am at an EB - ignore flair) has a dad that’s super high up at a MF. He’s also not the best analyst tbh…

There's nepotism in every industry, that's life.

I get the impression PE is a bit better than IB because there's not the same client services element. The main beneficiaries will generally be kids of LPs / the partners' friends / portco execs, so it's a somewhat more defined universe. Also keep in mind PE usually doesn't hire out of undergrad, so you're basically just competing with the ex-consultants and bankers in the group above (all the connections in the world won't take you from marketing to an investing role). 

In my experience nepotism helps someone get the interview, maybe the job, but usually has no bearing on whether or not that individual moves up. 

Pretty much every Partner at my old fund has a child that also worked at the fund. Nepotism is rampant across all of Finance. 

Yes and plenty more happens where children of partners/clients go work for friends of the parents 

In my experience nepotism helps on the margin. Starting from zero, helps you get an interview. If you're a good candidate, helps you get the job. If you are a good performer, helps you get promoted / advance. It's not a panacea though and in a relatively meritocratic industry if you're not adding value you don't end up getting very far.

I would say yes just because of the fact that they can drop any resume into the interview stack. It definitely isn't a 100% sure shot into the job, it will give them the nod and they just have to scrape past the interview process for the job.

While above is true, its also true that a bunch of nepo kids have been grinding for a MF spot since birth, so it isn't very surprising either. Getting the job isn't that hard if you've been preparing your whole life.

You’ll get a look, sure. But no one is hiring a fucktard into their firm/team bc of connections. All else equal, if you went to Baruch and have a super strong connection you’ll get an interview as a favor, but that’s about as far as the favor goes. Unless you’re on par or +/- 5% vs the other person in contention for the offer after the process is all said and done.

Way more prevalent in banking for a variety of reasons.  Also partially bc there’s an ocean of analysts. Pretty easy to hide a fucktard in a sea of 20-50 analysts. Vs if you’re 1 of 4-5 associates on your team in PE, where there’s no baby sitting and handholding, if you can’t hang/deliver, it’s an acute issue for every single person on the team.

I could MAYBE see them giving you an off cycle internship or a spot in the investor relations/events team — but core investment team, I think not.