I've just been offered a job with a large investment bank, because a (good) friend at university has dad's on the board of directors, and arranged for me to get an internship over summer because I'm friends with his son, which has resulted in a job - which I got without going through the usual rigorous process. To be honest, I'm not of the calibre to get this job. I only got ABB at Alevels, and study at Nottingham University, and went to a local comprehensive (no private school for me), while not exactly rubbish, but this bank recruits solely from Oxbridge/LSE/Princeton/Harvard ie, the best of the best in the world - an old boys club. From my experience at university, most of the people that get graduate jobs know people, ie have a "connection". I almost feel guilty for getting this job, because other people that were better than me almost certainly didn't get the job! I honestly don't think I'm up for the 100 hour weeks, and I would have been filtered out right at the start had I been interviewed. Who else has got to where they are by knowing the right people? I have a feeling this happens more than I think.