Reply to 18-month Lead Time for Wall Street Summer Internships?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My sister is MD at a big bank. They start recruiting fall of sophomore year and you must have at least a 3.5 GPA at that point. She tried to get a relative’s daughter in, but HR said no bc she only had a 3.2.[/quote]

[b]No one will believe this but the who you know only matters if you are a top candidate.  The old - dad knows somone and the dumb kid gets in is not true anymore.[/b]  The story above makes sense.  If the kid had a 3.7 then the MD might have been able to help.  Things all changed after the pricelings cases about a decade or so ago where the banks gave jobs to children of Communist party members in exchange for work.  All of the big banks redid their hiring process globally including internships to take out the who you know or what you can bring.[/quote]

Why do we always have people who have no clue how the real world operates, and yet they always chime in and spew out things they know nothing about?   I was instructed by my immediate supervisor to select two different candidates who are also D1 athletes, one from Pitt, one from Florida State University, jumping over ten other much more qualified candidates from Ivies, Dukes, and UVA for internship positions at a very well-known IB company.  It is because two different managing directors are big supporters at Pitt and FSU.  I was told that my annual bonus and job security depend on this.  The Pitt and FSU athletes have a 2.8 and 2.9 GPAs, respectively.    You're living in a fantasy world if you think otherwise.[/quote]

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