Reply to How is every last kid going into Investment Banking?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It's absurd. Every kid I know personally is aiming for this. Every kid on Reddit. Every kid on here.
My own children are at an Ivy, a LAC and a state school and every kid they know is aiming for Wall Street as well.
Ok, maybe a bit of an exaggeration but it's pretty universal.

The reality is that none of them can even get into the investment CLUBs at their schools. 
1% acceptance rates. 
Getting competitive internships is even more insane.
And then easily 50-75% of the Wall Street jobs that the colleges brag about are nepo hires (the applicant's dad or uncle is in banking at a high level).
The closer I come to this through my kids I more I realize that 90% of jobs that a college brags about "10 to Goldman Sachs!" are based on who a kid's parents are and have absolutely nothing to do with grades, merit, etc 
What is going to happen to all these kids? Is the job market going to absorb them?[/quote]

Huge exaggeration.  Huge. Your world is very small. And so is your Reddit interpretation [/quote]

No offense, but I really don't think my world is small. I have kids in 3 different types of colleges. They came out of a very large public school. My spouse and I go to a large church and work in very economically diverse settings (not in banking).  We ourselves attended top100 schools but nothing elite.[/quote]

Well, you seem to have reached adulthood without learning that your experience isn't universal.  And you are taking reddit as a source of data.  So there's not much i can say to you, since you have a flawed view of reality.[/quote]

+1  Your top 100 school didn't teach you much about how to analyze information.[/quote]

+100 It's like the parents who don't vax their kids because they did their own "research" and made their own conclusions.  There's just no discussing anything with them, because their minds are made up and it's like trying to provide info to a brick wall.[/quote]

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