4 ms·
"This is actually generally how finance works though. The whole industry is built on the illusion of superior competence. "Prestige" is a determining factor in
by pmoriarty 4y ago
"This is actually generally how finance works though. The whole industry is built on the illusion of superior competence. "Prestige" is a determining factor in someones ability get a job running a hedge fund/financial asset management"
It's not just finance, people everywhere are impressed by a prestigious background, and assume if you can drop certain names on your resume you must be great.
Such names will open all sorts of doors for you that are firmly shut against the riffraff.
Of course, conmen have used such patinas of prestige to their advantage since the dawn of time.
- whimsicalism 4y agoIt's bigger in fields where you need to get rich people to hire you: ie. consulting & finance. Fields like tech are nominally more meritocratic.
- jasonwatkinspdx 4y agoThere's also the irony of the fancy office. If you're a customer of a professional and walk into a very luxurious office, you know ultimately you're the one paying for that. If it were a separate surcharge to meet in the fancy office vs something basic would you chose to pay it? Yet psychologically we all feel more confident in the fancy office.