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[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]

So most of the banks prohibit nepo hiring.  Most prohibit any thumb on the scale.  What you are thinking of is the way it was.  It changed over the years and then really changed with the Princelings case out of China.  If you were a Goldman partner your kid could not be hired by Goldman.  Your kid could be hired by JP Morgan but that is not nepo; that is the kid getting a job.  [/quote]

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