Hiring freeze at Barclays - will affect interns or not?
Hi guys,
You all probably saw on the news that Barclays just put on a hiring freeze. However, I was wondering how will this affect interns receiving full time offers?
Thoughts?
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Likely not at all since everyone needs to fill their next analyst class anyway
Can't imagine a large investment bank not hiring analysts for a year
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And the odd thing is Barclays is fast-tracking their analysts to associate level. So the need for analysts will be there,
No worries; still hiring, even at senior levels (at least the IB side).
Source?
And how come the news is reporting them having a hiring freeze? I'm genuinely curious.
Hiring freeze only pertains to non-campus programs. Analyst and associate programs are still going to give full time offers, although I would not be surprised if the offer rates were lower.
However, lateral analysts and associates (and of course, all senior hires) are on indefinite freeze. I think there are exceptions taken on a case-by-case basis for critical business need.
Source: http://m.lse.co.uk/news/view-article.asp?article=sn_5bxmsnx5
No way Tom King will pass on hiring someone because of the freeze. Jes might be the group CEO, but Tom King will hire whoever will boost revenues in advisory/origination.
None of IB (don't consider s$t as IB) is downsizing. if you are in U.S., the offer rate will stay high.
So all in all, don't worry about it. If you worry about it, you are either stupid or too junior to understand the business, as one MD said.
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