Reply to Class of '26 Instagram College Decisions

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Of course the other side of this is that once you are up to $20M, your kids are basically guaranteed a comfortable standard of living to pursue whatever they want in life regardless of where they go in school/college, and so the marginal benefit of going to HM or whatever fades for different reasons.

It's a catch-22; if you're not wealthy enough to easily afford private school then your money would probably be better spent on something else, but if you are wealthy enough, your kids are going to do great regardless and they aren't necessarily going to want to crawl over the corpses of 1700 other Ivy Leaguers for an entry-level post at the 3rd best hedge fund anyway.[/quote]

my kid is at an Ivy and says half these kids are getting into 1st and 2nd best hedge funds via the nepo train. so be ready to push past that - not easy[/quote]

1st best hedge fund hiring is more meritocratic than HYP admissions. Nepo train will not get you to Citadel, Jane Street or Point 72. Can’t speak for others places.
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I know a new kid who got a Point 72 this summer, summer after freshman year of college. which is insane and not based on merit. you could say that's not a real internship since Point 72 doesnt do real ones that early, and I'd agree to a point. But it's an internship and it's at Point 71 and even if he's shadowing someone or making coffee, it's on his resume and AI will crawl that and pick out his resume for the next 15 years[/quote]

Wow. I'm the poster just above this. I guess there are multiple nepo kids at Point 72.[/quote]

I’m at a comparable firm and we have nepo interns too, usually college freshman or even high school seniors.  It’s understood from the outset they won’t get full time offers here but having our name on the resume definitely gives a big leg up when applying to, say, Goldman or wherever “on their own” and then get that job “based on merit not nepo”[/quote]

Yes - it is the best of both worlds - the kid effectively benefits from the nepo connection but isn't walking around the office with everyone saying "he's the son of the big shot sitting over there." People will likely eventually make the connection but it is less of an issue. Obviously, some people don't consider it to be an issue. To each his own.

I worked in a department at a big bank where we had a bunch of nepo kids. Probably the brightest guy I worked with who went on to do huge things was the son of someone affiliated with the department. And there were a few others like that. If anything, we got a few kids who probably should have been working in more important departments than ours but did it because of their dads. We also had some real duds who we had to put up with.[/quote]

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