Reply to The “target school” culture is extremely toxic

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[quote=Anonymous][quote=Anonymous]Finance person here on the buyside. Some of the target vs non target tiering is hardwired because on campus recruiting resources are finite.

But the other “basis” is the extent and depth of networks. A candidate can really benefit from having access to contacts that they went to school within the firm. For example, when i interview, I always ask candidates to pitch me a stock. I find it useful for distinguish kids that are truly interested in a life investing vs someone chasing an illusion. By titrating the depth of questions, I can pretty quickly figure out how deep someone is.

The Harvard and Wharton kids are actually practicing their pitch with younger alums in the firm and even customizing it for certain technical details I am known to go after. So, they not only have an advantage getting in the door, they have now created an edge in the active process.

We pride ourselves on meritocracy and I love finding hustlers from schools not on “the list”, but the network effect can be very challenging to beat. [/quote]
The network effect, as you describe, is not challenging to beat: come up with more creative questions which are less subject to gaming, and don’t claim “pride” in meritocracy when you have described the opposite. [/quote]

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