Has anyone interviewed for JPM- Bear Stearns guarenteed interviews yet?

I was one of the Bear hires in their IBD. Obviously everyone knows the story, JPM left us with no information about our status for about a month after they purchased Bear, then told us they rescinded our offers and would give us jobs at non-profits, AND we would be part of their Early recruiting process and have the chance to interview at JPMorgan.

Then they called us in for an information session in their NYC offices, and informed us that there would be no interviews for IBD or S&T, and they would allow us to interview for things like Private Banking, Prime Brokerage, Commercial Banking, etc. Fine, no problem, in this market I just wanted to get something and some of their options sounded interesting to me.

They arranged for a first round phone interview in the third week in August, where we expressed our interest in which divisions we were interested in. Since that time, I have ONLY received anything from them in response to my emails asking what was going on. I emailed them the first week in Sept. and they said I should expect a response "shortly." Emailed them again the last week in September since I still hadn't heard anything, and they said I should be hearing in the next 2 weeks.

I definitely feel like we are all being jerked around. I guess they really have no obligation to us, and they were good enough to get us some jobs for the summer, but I feel as though they should be true to their word and not mislead us, at least tell us something and not leave us hanging like they did when they bought the company, and had us continue to fill out paperwork for the internship, and then finally rescind the offer. We were promised "early interview opportunities" or something of the like, and that definitely did not happen. Doesn't speak well for their company as far as I'm concerned.

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Just commenting to confirm what CS said. I actually spent my summer at JPM in a different part of the bank and had a first round interview, yet had to call myself to find out that JPM had no plans to move forward with me in the process (after one week, then three because I received no reply initially). Is it disappointing? Yes, of course, but frankly I expected very little to begin with.

That said, it may have been good for me to see this side of the industry. I realize the advice is often given to renege with seemingly no regard. I've got news for everyone out there - I can't agree more with those sentiments after this past recruiting season.

JPM could have cared less about me or my situation - not saying they should have either, but it was a harsh dose of reality, that's for sure.

Have either of you considered your legal options against JPM for their breach of contract, or do you just write it off as a lesson learned that a contract is worthless when they hold all the cards?

you don't have any legal options, just as an fyi

Yea, my father is an attorney and says we have next to no rights... however, he is not 100% sure considering we signed an agreement not to sue them in exchange for keeping the housing stipend and being given access to the "early interview" process. They said they were going to choose who they wanted from the Bear Stearns pool before looking at anyone else... thusfar I have not found that to be the case.

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I'm assuming that suing due to a breach of contract would violate the whole "employment at will" notion and hence, I don't even consider it an option. It sucks, a lot, especially given this market, but it's a lesson learned for me and nothing more.

Agreed, nothing I would ever pursue. Not worth my time or effort.

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I was supposed to be an intern for Bear this summer and was left high and dry. I had a phone interview with JP in early August and I was invited to a super day via email last Friday. The super day is next Friday. I was shocked when they contacted me -- I didn't they they'd be hiring given what is going on. I stopped looking for ibanking jobs and have been looking elsewhere...but I guess I'm back! Good luck to the rest of you!

if it serves as any consolation, they are not really hiring for any ibd/s&t positions... consequently, i don't think they're shafting the bear kids per se. they're just not hiring. period.*

*certain groups and restrictions apply...

They aren't hiring anyone full-time (I can only speak for Corp Fin, not sure about S&T but I don't see why it would be different). Class was filled with summers and the kids who got deferred from the '08 class.

Incorrrrrrrrrecccct.... just b/c you weren't quality enough to be retained in IB, doesn't meant that they didn't hire anybody FT... go dig up the old thread about this. The "picking names out of a hat" story was really cute - I can't believe that it worked, but I guess only the bottom tercile would buy such a story :). They moved a bunch of their worser candidates to commercial banking and what-not, but still took in a couple of FT'ers.

It's true that generally, JPM is not hiring anyone for the investment bank (IB/S&T) outside of the summer class. However, there's always exceptions to the rules...so sure one or two may find there way around this, but in general it doesn't really change the fact which is that they won't be out on campuses recruiting for these positions.

a couple of kids in my summer class that had turned down sa offers from jpm got calls in august about accelerated interviews.

Interesting to hear because the summer class seemed pretty large and I would think there would be a high retention rate. Do you know what division(s)?

I already posted re: what ChelseaFC85 is just now saying, 3 months ago... and every1 called bullsh*t. LOL - love the ignorance of this board. Mr. Genius here always proving the retards wrong!

wrong again. Ask anyone who actually works at JPM, top performers were deferred, general sentiment is that it was entirely random (and if you do a search on the topic you'll find that this is the general sentiment).It is HR's stance that they aren't hiring full-time. Your community college education and entirely unfounded elitism is apparent in just about every one of your posts.

b2 in a nutshell = overcompensation

I summered at another BB but interviewed with JPM in August. There were about 10 kids there for the "super day". Most of the people there had summered at other banks, but there was one guy who had a summer internship spot with Bear and ended up doing service for the summer.

HAHAHAHHAHA... just because you suck so much that you had to be moved to commercial banking, you're now pissed off that outsiders more qualified than you are are coming in usurping your position. Read what other posters are saying: Non-JPM kids DID interview with JPM.

I even got an offer and worked there briefly before realizing how much the bank sucks and jumping ship to a better shop. Don't believe me? I still have access to JPM networks - go ahead; post your SID; I'll tell you your life story...

or are you scared? hahahahahahhahaa......

yeah, while b2 is clearly the most immature poster on this site, he isn't wrong on this topic. one of the MDs that interviewed my buddy from work personally called him in august and tried getting him to sneak out of the office for an interview. while jp morgan has officially shut down full time recruiting efforts, several non-bear people did in fact interview for positions through various back door channels. i can't imagine how much this must suck to hear for people that were originally going to bear ibd.

Idiots on this forum fail to distinguish between immaturity and credibility. Just because I make fun of how dumb these tier-3 college kids are, they assume that I don't know what I'm talking about. I guarantee that everything that I say re: banking is credible.

http://www.wallstreetoasis.com/forums/for-those-of-us-applying-ft-this-s...

b2 - how did you do an internship this summer, get an offer from JPM in July, start working there already, then move on to a new firm? Would JPM really give you an offer and then have you start working immediately? And you were able to leave JPM and already move on to a new firm?

You said on July 10th: "I passed up a JPM SA offer for a different BB bank, got an invite to a JPM "networking event" about a week ago, set up interviews, and got an offer."

Now you are saying that you already worked at JPM and moved on? I can tell from your posts that you know what you are talking about, but I'm just trying to figure this out because I've never heard of anybody basically getting hired on the spot and starting a month later.

Can you clarify?

Alright - I didn't think about the fact that you were probably a lateral hire. My bad. It's just surprising to me that they would give you an offer and that you would start immediately, but I guess if you have experience then you don't need to go through training right?

AFAIK, JPM had 2 training sessions and the second one is just now concluding (still have a week or so to go)

Regarding how I did what I did, I sent you a PM.