Will family connections to Wall Street help me get a job?

I know that I won't be able to get into a top target school that the big wall street companies recruit from, but if I have a cousin and uncle that work for Cantor Fitzgerald and a cousin that works at Morgan Stanley would that help my chances of getting a job?

 

Leverage these connections as much as you can. Start by asking if they would be willing to share their experience at their firm and in the industry over a call etc. Then from there make sure you show that you have a legitimate interest in banking and are motivated during your conversation with them. End each call asking if there is anyone else that they would be willing to put you in contact with. In my opinion, this would be a great way to open doors and start your networking.

 

Use it as much as you can. Even if you get into a less-known firm you’ll have a chance to join them later on. Could be a good thing - you may avoid the crazy hours. Make sure you get a good gpa and you’re one of the best in your uni though.. Vouching for someone is easy when they have the credentials anyway.

made new unrelated account - dont reply or message as i never use it. 
 

Connections always help. It's tough to tell the extent, but it depends on who you know and to what capacity. If you know an MD extremely well and are looking for a position within their specific group, then they might be able to help you more vs an alumni from your school who is willing to chat for 15min and then pass on your resume.

Bottom line is to network as much as possible.

 

Both helpful replies, thanks.

One quick question. Would it help to have more than one connection within the same firm to pass my resume around, even if it is within different groups, i.e, Asset Management and pwm? Or would each connection just increase my chance at each of the individual positions, with no splash over?

 

Both helpful replies, thanks.

One quick question. Would it help to have more than one connection within the same firm to pass my resume around, even if it is within different groups, i.e, Asset Management and pwm? Or would each connection just increase my chance at each of the individual positions, with no splash over?

And what if I have two connections to pass around my resume? Would it help if whoever is in HR sees my that two people handed in my resume?

Sorry if my questions seem stupid.

 

As above, depends. Usually I think they just get you the interview, but I think if you're borderline after the interview they can help you through the process - for example they get you the interview, and you completely bomb it - you aren't getting through; if you ace it, you're getting through on your own. If people are iffy about you, maybe they pull you through

 

these days even some MDs are worried about their job security if they're not bringing in deals. and when they're worried about their own jobs, i don't think they will go out of their way to help others get jobs.

it also depends on the attitude of the certain bank toward connection hires. some banks seek "client hires" while others have a very strict hiring process that you can't just skip over.

 

The finance industry has been in shambles the past year or so and there have been an absurd amount of layoffs. I know plenty of guys that have been laid off from BBs and can't find anything decent. And yes, even almighty MD's are looking over their shoulder, and they certainly don't want to push too hard on hiring some nobody with weak experience (no offense).

 

Agree with all the above. The hiring situation out there is terrible and almost all FT hires seem to be coming from within the SA pool, so if you are looking for FT you may have a tough time. I know the head of IBD at a BB and he could simply get me an interview. I don't know if anyone really has the power to simply hand over a FT offer in this market.

NEVER lose your BlackBerry www.conveniencesoftware.com

 

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