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Your investment banker scenario is pretty interesting. Given what a single large deal can mean to the firm, hiring the kid of a CEO at a big company you hope t
by shostack 12y ago
Your investment banker scenario is pretty interesting. Given what a single large deal can mean to the firm, hiring the kid of a CEO at a big company you hope to work with one can could almost be seen as a form of lead-generation or a business development cost. The high salaries paid to a junior iBanker are nothing compared to the revenue from a successful deal, plus that new hire is hopefully competent and contributing to the firm's success (and one day sourcing their own deals).
- tomp 12y ago> Given what a single large deal can mean to the firm, hiring the kid of a CEO at a big company you hope to work with one can could almost be seen as a form of lead-generation or a business development cost. It's actually seen as bribery and is illegal. From [1]: > U.S. authorities are examining whether JPMorgan violated anti-bribery laws by hiring the children and other relatives of well-connected politicians and clients in China in exchange for having business steered to the firm, [1] http://www.bloomberg.com/news/articles/2013-12-08/jpmorgan-china-hiring-probe-spreads-to-five-more-banks-nyt-says http://www.bloomberg.com/news/articles/2013-12-08/jpmorgan-c...