bulge brackets not hiring?

From what I've heard, UBS and JPM are not hiring outside of their intern class.

not a great year for FT recruiting if you ask me, curious to hear what the senior monkeys have to say.

They all seem to be recruiting at my school. Most of them are saying they are taking on 2 or 3 in addition to their intern hires. This is for a regional office.

Does anyone have info on UBS because I am hearing contradictory reports. Some ppl are saying their are hiring once again but with the looks of it they havent posted anything on the career site and neither are they having an information session. JP is notorious for hiring a lot from its summer class and doesnt do extensive FT recruiting.

There is nothing on the career sites of UBS or CS about their NY office. Does this really mean they're not hiring at all?

another thing is a lot more of these firms are relying on accelerated interviews instead of FT reecruiting where they interview people who either were offered a summer position but rejected it or strong candidates during summer recruiting...

same here. nothing on my career site either. CS hired a pretty big class this summer so that might be the case but UBS was supposed to just start recover and expand their class.

Wish people look do some research before just posting stuff online. UBS and JPM have positions that opened up yesterday for FT recruitment for Undergrad. Wells Fargo starts September 20th.

brooksbrotha where are you checking this out. Are you looking at the firms websites ?

Brooksabrotha, I was informed by several people at UBS that they were not hiring.

As has been said, most people have gotten their offers through accelerated recruiting, including me. I know Deutsche, Goldman and Citi have already conducted their accelerated interviews.

Most of the firms have finished accelerated interviews (friend finished interviewing for MS this week). JPM has hired/filled most of their better group analyst classes from accelerated and summer candidates, as has GS and MS, but there's still a few slots open in financing groups, I believe.

UBS has been known to conduct interviews while fully intending not to hire anyone. Heard this from folks who worked there.

The ones that I have seen that are conducting interviews: CS, MS, Nomura, WF, BofA, Citi

JPMorgan only IB Risk/Asset Management - website confirms it. Seen nothing from GS, or Barclays either, but Barclays also had a huge summer class and gave out offers like candy.

Looks like the BB have posted on my OCR site...probably taking 1 or 2 more ppl....most slots should be filled by summer analysts and accelerated interviews

My bb group is very understaffed at the analyst level right now. Plenty of Associates but not enough analysts, and we are feeling it. Hiring will definitely be an improvement from last year, because dealflow has quickly picked up. On the other hand, I can definitely see a need for seasoned monkey's as a result of the dealflow uptick amidst small 2nd and 3rd year numbers.

fuck

How many spots to these banks really have for FT at this point?

UBS were handing out their FT positions to their SAs a week or so ago, sucks to not be an SA right about now.

My impression is that it is very tough right now. I know that most/all bbs over hired SA and now really do not need to hire that many new FT. Maybe one or two slots open in each group (this is a generalization), but coming from the outside will be difficult. There are always kids from S&T, MO, and BO that have been pushing like hell all summer to get into an IB group.

Good luck to all.

@BabyBuster: what is your source?

thewallaby, he is right. This year BBs gave out FT offers like candies on Halloween. That being said, those who didn't get a FT offer are utterly fucked. Even half-brained clowns got offers this summer

it's hard if you don't have any direct connects AND very relevant work experience. there are constantly internal emails about referring people... but once again, referral can't be some dude that just decided to do IB on a whim. I think in this cautionary market, undergrads really need to network well so that you will have people pulling for you when final rounds come.

strong target here... not many recruiting. Here so far only MS, BofAML, Citi --- normally, we get all of the BB's.

just remember that you guys are still lucky compared to our class who graduated in 2009, when most banks came on campus and just went through the motions!

I really hope things clear up by 2012 (getting my Msc next year) so I can work in the FO for a few months before the world ends. Btw The Phantom, I almost pissed myself when I saw your avatar.

Historically, in years that firms have hired fewer 1st years in the fall, they have often gone back out in the spring (around March) to fill out their classes when they have a better feel for what their staffing needs will be based on deal flow and early departures. They tend not to do this through formal on-campus recruiting as the number of kids they are looking for is smaller. They find candidates by asking existing analysts for referrals and through people who have managed to stay in front of HR.

For those of you that aren't able to land something this fall, it might make sense to go back to HR in January or February to check in and keep your resume near the top of the stack. I'd also recommend networking with analysts who have recently graduated from your school to stay on the inside track.

Despite all of the talk on this board of networking with senior level people, it is sometimes the analysts that can help you the most as they are of often in charge of resume reviews and giving perspective on candidates they know. They can't make the call on their own, but they can put you in front of the right people.

For those of you that feel like certain classes are lucky or unlucky, guess what - you are right. I've got a somewhat depressing story about this. This is a cyclical industry...it goes through hard times and booms, which directly impact analyst class sizes. We're (hopefully) coming off a bottom now, but it will be back up again at some point. There is nothing that any of us can do to change this, particularly as a college student.

Back in the fall of 2001, we were in the final hours of the technology boom. The market had fallen throughout the previous year from its high in January 2000. People were beginning to realize that a company should probably have a business model or product before it went public and achieved a billion dollar valuation, which funny as it may sound wasn’t the case in prior years. For those of us in the class of 2002 there was some hope as the market rebounded over the summer of 2001, leading into recruiting season.

My school’s on-campus recruiting season was kicked off with a career fair each year. All of the BBs would fly out to our Midwestern school, and those of us with high finance dreams would be able to make our first impressions on the recruiting teams. Despite the unsteady economy, we were all eager to network and were certain that we would land jobs in the finance mecca of New York. The morning of the career fair I got a call from my family around 7am asking if I knew what was happening. I said no, and they told me to turn on the TV…the date was September 11, 2001. Not to make light of the tragedy that happened that day, but it had a major impact on all of us who were hoping to break into finance. Needless to say, most BBs did not make it to our campus that day.

From there the recruiting season went downhill. Enron imploded in October bringing down Arthur Andersen with it. Adelphia and Worldcom would soon follow. A few firms continued to go through the recruiting motions. I had friends at CSFB in Chicago. They came down to do first round interviews; one actually stayed with me. They told me that if they were able to bring people back for a final round that I would be invited. During the (highly informal) interview, one of the guys checked his primitive bberry. Their company had just announced mass layoffs. Both guys were laid off within 2 weeks. I never got that call for a final round interview. Other firms would come to campus and admit that they were just interviewing to keep the career services office happy. A few lucky kids did manage to latch on at various places, but most of us graduated without an offer. Over the time period of my job search (call it 2000-2002), the NASDAQ fell almost 70%. I persevered and did manage to eventually land a job in NYC the following fall that later led to bigger and better things.

All in all, I have nothing to complain about; things have worked out well for me. The point of this is that it will hopefully allow some of the younger readers on this board to gain perspective that bad economies and volatility are a fact of life in this industry; get used to it.

Anyone have insights on the banks that are looking to hire for FT instead of just going through the interviewing motions?

MS is not doing on-campus interviews but will accept resumes.

I'm applying all over the United States and networking like a mother. I met with the president of capital markets for a mid-market bank a couple weeks ago. Have an interview with that company on campus October 6th. Trying to get some wheels turning with what few contacts I have over at JPM. I love how JPM has sacrificed its need for financially literate scholars and instead picked up any majors with a high gpa. Because poli sci and art has a lot of business experience. A+ for diversity, F for lack of business majors.