Funny pic aside, can someone explain to me how nepotism and relationship hires are good for business? Surely, the practice would stop if it didn't have some tangible benefits. Is it literally just about being in good graces with people who have influence/power?

Post Photo
likefunny
Posting as :
works at
You are currently posting as works at

What's the point of making it to the top if you can't bring your friends and family along for the ride?

like

Same as any referral - someone who knows the candidate can vouche for their character, work ethic, and capabilities. The more senior the person referring, the more seriously it is take - just like all other referrals. Bonus points that if their kid performs poorly it reflects poorly on them - so you have someone who knows the job incentivised to make sure they don't suck (in theory)

Also there is definitely an implicit quid pro quo favor system

like

I guess it depends on what is meant by good for business. Nepotism is a way of holding on to power and influence, and it instills loyalty. Over time that can be effective in some organizations. But there's an argument to be made that nepotism and favoritism ultimately diminish an organization.

like

I forgot where, but someone asked on fishbowl recently “what would be the best last interview question you could be asked?” And the top answer was: “So, are you and your dad still on for a round of golf on Saturday?”

And when you think about it, how it could it get any better than that? That kind of question means you’re well connected, already well off, you guy interviewing you, I could go on.

I’m not well connected, but the thought of being so sounds nice.

It’s all about who you know. At the end of day investment banking is a relationship business, the more relationships you built the higher likelihood of you moving up in the food chain

Related Posts

Hello!! What is salary structure of catagory head profile in lenskart?

like

Hi People,

YOE 5.5,
Skills - Java 8, springboot, hibernate, microservices
Got one offer from a startup company 24 LPA fixed (Remote opp. Which is giving me "WLB" anxiety already being a startup)
Publicis sapient 22 LPA
IRIS 20 LPA

Is it ok to ask for a counter offer in these 2 companies ?

Which one should be a best fit in terms of growth, WLB ?

like

What is the procedure to follow to prevent ourselves from getting blacklisted after rejecting an offer letter?

like

Can you cut 18mg Delmosart (i.e. Concerta) to get 2x 9mg?

like

Quite a few have mentioned using whiteboards as a way of staying focused on important projects. If this method works for you, how do you lay out the info on the whiteboard? Would love to hear your methodology (or see a picture if you don’t mind sharing)!

like

I don’t understand how people keep posting about the bench and being unassigned. I’m in advisory(not audit) and my entire LoS is trending 90%+ utilization

like

Strategy& vs. EY-Parthenon vs LEK? Pros and cons

like

Will be recruiting with Deloitte and Google — tough decision because I like both, any thoughts on how to compare/choose between the two? Thanks!

like

Does Barclays UK help it's employees who are interested in getting financial/ accounting certifications?Barclays

like

Hi everyone, I'm a fresher with a 6 months experience in analytics. Could anyone refer me for any analytics vacancies in your organisations ?

My skills : Python, SQL, Tableau, PowerBI, Adobe Analytics, Microstrategy, ML

like

Thank you for your service

Post Photo
likefunny

Isbthere any probation period for lateral?

like

I'm holding an offer from MakeMyTrip and another offer from OlaElectric. Ninjacart is willing to make me an offer. But they're saying that they'd discuss the offer only after the other company that I'm interviewing with has come up with an offer first. There's been a delay from HRs of the companies in a similar way. How do I urge them to send me the offer letter without sounding pushy? I had reached out to some of the HRs myself. Would that be too awkward if I accept & back out their offer?

like

How to renegotiate with pwc for more fixed

likefunny

If I start a full-time position as a Product Engineer, what salary should I expect within the Metro-Detroit Area?

like
like

What happens if I resign during probation period? What will be my notice period?

like

Help me out - I'm starting a HedgeFund. I'm calling it ____________ Capital.

like

I recently became an Anaplan Certified Level 1 Model Builder and have been applying to a lot of roles. Does anyone have any recommendation on companies to apply to and a range that is suitable with that certification? So far I have applied to the the big four consulting firms and Fintech companies.

Any help would be greatly appreciated!

like

Additional Posts in Investment Banking - IBD

Does Barclays UK help it's employees who are interested in getting financial/ accounting certifications?Barclays

like

Anyone know of any banking analyst lateral opportunities in Chicago? Looking to jump to BB/EB. Any insight to the shops around here is much appreciated!

like

Asking for wife who's also in banking. If she got ~$100k in signing bonus in 2019 for 1 year commitment in CA and started FT in July 2020, assuming she leaves before July 2021, can her employer claw back full amount in California? Some say it's much tougher to do so under CA law but wonder if anyone has any insights. Banks won't likely care about analyst signing bonuses, but associate bonus at EB with diversity bonus can be significant. If she quits before, she won't be going to another bank.

like

Thoughts on PJT strategic advisory?

like

Does anyone know about Sage Group? Seems to be a boutique firm but not sure about their culture and overall dealflow in the market.

like

Senior Risk Consultant + CPA at big 4 (4 YOE) looking to break into IB with no Deals experience. Would appreciate any tips, tricks and resources for interview prep and beyond. I have an interview coming up with an MM bank in their Real Estate group. TIA

like

Thoughts on GP Bullhound?

Lower middle market bros. What’a your comp structure? I will share:
100k$ + 60k$ discretionary bonus

like

Any info on best MM LevFin / FIG groups in Chicago?

like

Equity research associate considering to pivot into IBD. Is this a wise choice? Heard ER is an exit for some of the IB folks out there.

like

Is breaking into equity research/coverage teams as hard as breaking into traditional advisory/M&A IB being from a non target school with a non finance degree?

like

What does the branch transfer process look like for UBS? I'm wanting to transfer from my current office to one closer to home.

Looking for advice: I have an analyst (9 months on the job) who still doesn’t get it - repeatedly misses comments, doesn’t follow instructions, slow, etc. I have raised this to both my MDs and they seem to be adopting a “not my problem” approach when I mention it. I had advised against hiring this analyst post internship and my MD insisted that all the issues I highlighted were fixable. I have tried teaching him to no avail and frustration with him is growing. Any suggestions for how to handle?

like

Want to get new bag for work and not sure if I should get a Tumi briefcase or backpack. Seems like I’ve seen more backpacks these days. Thoughts?

like

I am new in London. I have 4 years of M&A experience in the buy side. I have come across an opportunity to work with Rede Partners in London. But I am not aware of what exactly they do and what to expect going ahead. Can someone please guide if they are aware of Rede Partners?

like

What “lifestyle” exit opportunities pay decently? Been interviewing for corporate development and strategic finance roles but total comp looks to be almost a 50% pay cut.

like

Does anyone know typically how many rounds there are for hedge funds interviews and how soon after interviews I’ll hear back about next steps?

like

What are realistic expectations for 3rd Year Analyst / Direct Promote Associate bonus range at a BB? Note that at MS, 2nd year bonuses in my group last year were 90-115K, while MBA associates received a pro-rated 90K stub (~40k). Personally would be pretty unhappy to take a pay cut between 2nd and 3rd year…

like
like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal