12/3/10

Hi all,

Graduating from a semi-target this year, and the only offer I got is a big 4 audit gig. Although happy I "got a job" in this economy, I'm a double major in Acc/Finance and strongly pursuing an FO Banking/HF analyst type role.

So reason I'm posting is that my friend's uncle runs a massive fund out in Connecticut, and basically his whole family gets a right of passage to work there. His brother is an absolute retard but is a VP there at 27. I know life isn't fair, but this is such a non-motivator, how do you not get jealous when you see these things.

Comments (22)

12/3/10

you sound so fuckin sad lol

Investment Banking Interview Course
12/3/10

It is what it is dude, so use it as a motivaitonal tool. If he is your buddy, why don't you ask him if you can intern at his uncle's shop?

Alternatively, ask him if he would ask his uncle to have a cup of coffee with you. Impress him with your enthusiasm and ask for an internship. Failing this, ask him if he could suggest anyone else you should talk to and get their contact details. The HF commuity is very small so the chances are he'll know someone.

If you have been referred to someone by somebody that they know and respect it's very difficult for them to turn you away.

Repeat this procedure until you get a job.

12/3/10

Tudor Jones?

Regardless, you are correct in being happy obtaining a job in this economy. Rather than be jealous, go kick ass for a year at your big 4 gig (there are far worse places to be, btw), network your ass off, continue your search and get into the role you really want.

Wouldn't you rather be the guy who defied the odds and got a position he earned, rather than be some useless pussy born with a certain last name. Too much time is spent on this site analyzing bullshit (ie linkedin profiles, league tables, what groupisbest etc.). Take it from me, my route = non target -> middle market bank -> VC (networked into internships and current position now) - and I didnt' spend time bitching how my boy got a job at SAC because his daddy plays golf with someone there.

Final thought - if he is your boy, why not use the fucker? Ask him for an introduction to his uncle, or his "retard brother" - who if you probably take to a strip joint after pounding 5 Four Lokos will have you in the office next week.

"Jesus, he's like a gremlin; comes with instructions and shit"

12/3/10

Everyone talks about networking on this forum. Your friend's uncle is at the top of this HF. Use your goddamn networking skills and get an interview. Unless your resume doesn't even come close to matching up with what you need, even so you can make a new contact for when you prove yourself in the business world.

I think plenty of people here would be jealous of YOU for having the opportunity to talk to your friend and try and get a job that way, get on it son!

"You stop being an asshole when it sucks to be you." -IlliniProgrammer
"Your grammar made me wish I'd been aborted." -happypantsmcgee

12/3/10

A little psychology here. Another way to look at this is that if you are jealous in your "friend" then you probably are not really friends with him. Therefore, quit the charade and cut the guy out of your life because I don't think you like this guy. Or be opportunistic, and like other people here suggested, find a way to leverage this guy into something good.

12/3/10

It all comes down to the size of your balls. If they are big, you'll talk to the kid's uncle and not blink twice. If not, then you'll have to learn the hard way being a puss doesn't pay.

Best of luck.

Investment Banking Interview Course
12/3/10

your friends uncle runs a hedge fund and you sound sad, what the hell is wrong with you

"I came, I saw, I networked"

12/4/10

double post

"I came, I saw, I networked"

12/3/10

I thinks its rite of passage, not "right of passage"

12/3/10

I would need more than two hands to count how many people I know at top shops GS/MS/JPM who got in solely on the basis of who their dad/mom/family was. I'm talking about people who have less than 3.0 GPA's, and can barely form coherent sentences.

Life is not fair. First lesson of life.

12/3/10
ibhopeful532:

I would need more than two hands to count how many people I know at top shops GS/MS/JPM who got in solely on the basis of who their dad/mom/family was. I'm talking about people who have less than 3.0 GPA's, and can barely form coherent sentences.

You're working in HK right? Are you seeing more of this in Asia or in US?

OP - What's keeping you from talking to your friend's uncle exactly? (The answer should be nothing, assuming this guy is your "friend" or even an "acquaintance")

12/3/10

Well, sure, but they offer what is talked about over and over again on WSO: networking (well, more relationship-building, but same idea).

"You stop being an asshole when it sucks to be you." -IlliniProgrammer
"Your grammar made me wish I'd been aborted." -happypantsmcgee

12/3/10

boo fucking hoo

12/3/10

From my perspective doing my SA in NY, there were way more than I expected - people don't really seem to hide it either. One of the full-time analysts that sat next to me volunteered the information that his dad was CFO for one of the companies that my BB did recurring financing issuances for. Guess it's not really as much as a taboo to talk about it.

But as a percentage of the analyst pool, definitely more in HK. It's because the classes are smaller, and the asian-dynamic places more emphasis on relationships. With that said - I would say the vast majority of these hires have very impressive academic/work experience backgrounds as you can imagine, and most are as sharp if not sharper than the average analyst. Also, being "stigmatized" as the "relationship hire" has both good and bad connotations. Good is that, well, clearly you're bringing more tangible value to the firm than the average monkey. But bad, is that there's usually a sense that relationship hires just kind of sit back and relax - which can nor can not be true. There are 3 types of analysts:

1). Relationship hire that works extremely hard
2) Relationship hires who's job is to call papa up and ask for a meeting with BB's VP's/MD's
3) Campus recruits who grind the stuff out

12/3/10

Don't be jealous, get a job with the uncle. Then get me a job!

12/3/10

Congratulations on the job offer, you worked hard for it.
Don't worry about others. Start studying for that CPA, get into TAS/PwC Corporate Finance, network, study for that GMAT, etc. etc. You've got a lot to do.

And get an interview with your friend's uncle. Mail him a letter.

12/3/10

I don't know about everyone but I would hate working at a prestigious job I know I got because of my family, etc. I would just turn it down and take care of my own shit

12/3/10
southernlovr:

I don't know about everyone but I would hate working at a prestigious job I know I got because of my family, etc. I would just turn it down and take care of my own shit

Obviously, if you can get into a prestigious firm completely on your on merit then sure, all the more power to you. But if you can't (like the OP's friend's "moron brother") or you're still to inexperienced to 'take care of your own shit', why not use whatever resources/connections/etc. are available to you? Certainly other candidates gunning for the same jobs would do the same if they could.

12/3/10
Kanon:
southernlovr:

I don't know about everyone but I would hate working at a prestigious job I know I got because of my family, etc. I would just turn it down and take care of my own shit

Obviously, if you can get into a prestigious firm completely on your on merit then sure, all the more power to you. But if you can't (like the OP's friend's "moron brother") or you're still to inexperienced to 'take care of your own shit', why not use whatever resources/connections/etc. are available to you? Certainly other candidates gunning for the same jobs would do the same if they could.

^+1 - especially in the economy. Even in a good economy, you're off your fuckin' rocker if you don't reach out to everyone / anyone that can help you get where you want to be. Who gives a shit if you got there through someone else? Will that matter when you have the job / lifestyle you want? NO. And don't think for a second other gorillas out there are debating this topic. They are getting ready to gouge the eyes out of whoever is in their fucking way to get that job.

I will leave you with this....we are not social workers. You are talking about the most cut throat, difficult industry in the world( with the exception of becoming a pro athlete or astronaut). If you don't have the balls to get shit done, go do something that will actually help the world, and leave the money to be made by us selfish pricks.

"Jesus, he's like a gremlin; comes with instructions and shit"

12/3/10

I dunno Jimmy, from what I hear lately it's pretty hard to come by a flight attendant position hehe

I definitely agree though, use whatever you can to get a job. I know, personally, I'm very intelligent and I have no problem asking my brother/uncle/dad/whoever to get me a position. Anything to get a leg up. The morons will be weeded out or put in a corner to collect their paycheck until the person that got them the job thinks they've spent enough time there.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer
"Your grammar made me wish I'd been aborted." -happypantsmcgee

12/4/10

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12/4/10
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