People withouth FT offers are screwed?
Are people without FT offers (having an internship doesn't cut it) basically screwed this time around for FT recruiting?
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I don't want to say screwed, but I definitely think banks will be giving out less FT offers this fall, and it certainly puts individuals who did not get an FT offer from their internship program at a disadvantage.
does that mean people without a finance internship are completely out of luck even at target schools?
I don't want to draw conclusions, but people without finance internships are already at a disadvantage in a typical FT recruting season and given the recent market conditions, it is very possibile that banks may higher les analysts, making the situation even more dire for individuals without a finance internship.
At a firm like Lehman Brothers that purposely attempts to fill its FT class with its own SA, the chance of you getting an FT offer without prior finance internship is close to non-existent.
You are never completely out of luck. However, I think that it will be more difficult to land a job for '08 than it was for '07.
I agree with CompBanker. At least at my firm, it will be more difficult to get a full time offer in 08 than it was in 07.
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