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No, a lot of firms have a policy about this. That doesn't mean that they couldn't get a job with the firm, but it doesn't happen automatically. The candidate has to be deemed worthy by a non-bias panel of interviewers(just like everyone else). They may have an easier time getting an interview, however.
Yea tbh, if i were an interviewer, i'd defo give Ken Moelis's son/ Lloyd Blankfein's son etc an interview for free. Not because of favoritism, but cuz I'd be genuinely curious as to what different perspectives and insights a finance mogul's son can offer. Would be rlly interesting to chat with them and see how they made certain decisions in their life. That's just me
that is a load of shit. the answer is yes from personal experience
I'm pretty sure Dick Fuld's son ended up at Morgan Stanley, but I bet it was because of a policy, not because he got dinged at Lehman.
Actually, he went to Goldman Sachs and I believe he got laid off around the same time Lehman went under (coincidence).
Also, Ken Moelis' son interned at Oaktree and I think Goldman as well.
Why would you want to work at the same bank where your dad is the CEO? You would obviously catch a lot of shit for it.
Besides the fact that any BB CEO can get their kid a job pretty much anywhere they want, why would they stick em in the same company where people would be looking at the kid out of the corner of their eye the whole time like he doesn't deserve to be there.
You might as well be a girl analyst banging an MD, you'd get about as much respect by your peers. Speaking of which, what ever happened to PoshMonkey? I think I saw her on http://skullfucking.pornaccess.com/images/sfsamplemovie.wmv
Sorry. I meant son of a CEO/CFO on a client company.
Yes, client companies CEOs/CFOs children have a very easy time getting offers, in fact I don't think you're allowed to ding them.
I agree with drexelalum but everyone will know they are a client kid and they'll need to prove themselves to get any respect in the company.
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Everyone knows clients kids get shoved in GSAM
Umm, have you guys ever heard of a trust fund?
And (unless your CEO dad is a ball bustin' prick) trusts tend to mature when the kids turn 18. Why would you want to spend your 20s in front of an excel spreadsheet when you could be yachting it up in Ibiza with the rest of the Ivy League drop outs???
I only knew one CEO brat, drank freshman year away, and didn't come back after summer. Probably went to New York to be an "actor".
You are a moron. A vast majority of corporate CEO's are not compensated nearly well enough to have trust funds for the kids. Not saying they aren't paid damn well, but making $1.0mm a year for 10 years as a middle market Company CEO ($500k after taxes) is not going to set your three kids up with $5 million trust funds.
Dude if my dad was the CEO, I would do what I'm really interested in and that's not finance. Btw I know someone whose dad used to be the CEOs of one of the large gaming company. He obviously worked with his dad after grad at a PE.
Depending on the size of the company the CEO will probably have very high level contacts at IBanks. Like Group Head/Co-Head levels. These guys can basically guarantee an interview in any part of the front office (S&T/Cap Mkts/IB)
can they gurantee an offer tho?
Sorry, I missed the "client company" aspect of this thread. I was limiting my post to banking/finance/hedge fund ceo kids. As far as middle-market-client kids goes, I don't thinking having a parent is much help.
My bro went to school with Blankfein's son and even the guy's friends got into Goldman. I am sure it is the same with client side.
Depending on the definition of "Middle Market" and the actual experiences and capabilities of the son/daughter, there is a high chance of at least getting an interview and probably a pretty good word being put in from an MD or Group Head.
The one benefit is that most of the kids are used to being around people in these types of positions so they aren't likely to shit a brick during an interview, whether two-on-one, hostile, etc. I actually stopped an interview and offered a guy a glass of water b/c he was sweating so much. I thought he was gonna shit his pants and then pass out - barely took a breath. lol
picturing this is hilarious...i never really think about interviews from the employer side.
How often do you get shit interviews like these? Would you say most of the time the kid is well qualified with no personality or is shitting bricks because he/she realizes that they're in way over their head? And yes, I just joined and your post has deflowered me to this site
there is this douche bag at goldman who went to my grad school whose dad is an exec at RIM... thats how he got into the IB there... it has to be how he got his job... he is the biggest turd i've ever met
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