Will BBs look to hire FT now with M&A on the rise
Hey,
As most of us know or experienced, full time recruiting was absolute crap this year for IBD positions at BB banks. Assuming most BBs under hired, are or will any BB banks or elite boutiques look to fill more spots in their FT 2013 class on account of the recent optimism in the M&A environment?
Thanks,
thecarter2
Hope for the best, expect the worst.
To add to the original question: anyone at a BB or elite boutique that knows or believes their firm will be reaching out to hire more FTs?
It might help to open up your mind a little bit beyond the "BB or bust" mentality. Most BBs are full; asking them about available positions will likely get a "sorry try again next year" note. That being said, there are still some boutiques, industry-specialty shops, and MM firms looking to fill voids and pick up extra bodies. Networking can work wonders with those sorts of firms. BBs tend to funnel everything to their HR departments (a.k.a. black holes).
No, to my knowledge.
I know of two BB's (including mine) where HR explicitly stated that we are maintaining hiring levels for SA and FT at the 2012 levels. The main reason is that there is still enough capacity on the floor to handle the work, even if volume does increase. The recent deluge of M&A activities that you're reading on the news is not a trend per se (there's a good Dealbook article about this). Some of these deals have been in the pipeline for a very long time while others required unique players for it to happen (Michael Dell, Buffett etc.), so they are not something our other clients can replicate.
Senior folks are also very hesitant about having more "layoff watch" news associated with their bank. I heard we'd rather under-hire right now and then pull in people from our regional offices in Europe and Asia should the need arise.
bump
Pariatur eum officia sed omnis expedita rerum. Ea rerum natus quis autem. Et maxime voluptas fuga perspiciatis. Distinctio maxime necessitatibus iusto ut velit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...