The network sometimes works so well that it can help accidentally. ![]() Even applicants with the right handshake need to show drive, dedication and diligence, they said, and many kinds of groups foster bankers, just as houses spawn surgeons and senators. Students and graduates on Wall Street said they didn't see much wrong with a fraternity path to finance. "They really gave me valuable advice," said von Bonin, who got the internship this year. growth, fast-paced environment and training program. They taught him to describe the benefits of the firm's U.S. Von Bonin, 21, asked two at one of the world's largest banks for interview advice, he said. When alumni don't reach out, fraternity members know how to find them. Spokesmen for the three banks, Barclays, Morgan Stanley and Wells Fargo declined to comment. ![]() One said he would sometimes invent endorsements to send to bosses that didn't mention fraternity connections. said they were sent back to campus on recruiting trips, where they could tap people from their houses for interviews ahead of other candidates, some more qualified. Students could email their resumes to him directly, he added, and they'd go to the top of the pile.įraternity members who went to work for Goldman Sachs, Citigroup Inc. ![]() The email, a copy of which was obtained by Bloomberg News, was his best chance at reaching the college's top men for next year's analyst class in a San Francisco office that has had Dartmouth grads for eight straight years and Alpha Deltas for four, he wrote. One of the recruiting e- mails to Dartmouth's Alpha Delta arrived last month from an alumnus working in a unit of Wells Fargo & Co., the largest U.S. "But the reality is that it's still very much a male- dominated culture." Alpha Deltasįraternity inboxes help show why. "There obviously has been much progress since 20 years ago," said Siegfried von Bonin, head of Dartmouth's Alpha Delta chapter. Goldman Sachs added 10 women last year to a partnership that had one when CEO Lloyd C. banks say they are meritocracies and run diversity programs to shift an industry that once only let women onto the New York Stock Exchange floor as clerks during wartime shortages. A freshman at Baruch College in New York died this month after suffering a blow to the head during a Pi Delta Psi hazing ritual, according to Monroe County, Pennsylvania, District Attorney David Christine. Dartmouth College's Alpha Delta, an inspiration for the 1978 comedy "Animal House," sent someone to the New York-based firm from the fifth consecutive class days after a New Hampshire court reprimanded the chapter for providing alcohol to someone underage, filings show.įraternities retain influence in the face of scrutiny by parents, politicians and police for binge drinking, hazing and at least 60 deaths in the U.S. Penn's Alpha Epsilon Pi, which gave up its charter in 2012 to escape sanctions for hazing, got a member into Morgan Stanley for the fourth year in a row. choosing 350 investment-banking interns this year from 17,000 applicants. The fraternity pipeline helps undergraduates beat odds three times steeper than Princeton University's record-low acceptance rate, with Goldman Sachs Group Inc. showed women holding about one in eight executive roles in U.S. 10 it would make Mary Barra the auto industry's first female chief executive officer, the same day research firm Catalyst Inc. ![]() That's one reason men continue to dominate on Wall Street, where no woman has run a big bank. As students vie for 2014 internships in an industry where 22-year-olds can make more than $100,000 a year, interviews with three dozen fraternity members showed a network whose Wall Street alumni guide resumes to the tops of stacks, reveal interview questions with recommended answers, offer applicants secret mottoes and support chapters facing crackdowns.
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