How screwed are the seniors...

So... now that tens of thousands of experienced workers are now floating around the street willing to work for peanuts, how screwed are the seniors who are going through the recruiting process now, or are waiting to hear about their SA offers? I feel like why would firms hire kids straight from college when they could go out and get an analyst with experience for essentially the same price. What does everyone think? I am starting to fill out applications for the McDonald's down the road.

 

Honestly, if I was pursuing FT recruiting at the remaining BB American and European Banks, I would be more concerned about the flood of summer analysts from LEH and MER that you now have to compete with rather than the analysts from these respective firms...just how I feel if we're talking BB...as for boutiques...I def see seniors getting screwed by unemployed or soon-to-be unemployed analysts...if that makes sense.

 
Best Response

Quit purely looking at wall street for your opportunities. Obviously, a number of these posts signal that it is going to be damn near impossible to receive an offer within this "exciting" industry. Look, the times are shitty, but you know what? Deal with it. ADAPT! Look into F500 companies with leadership programs in finance and purse a FP&A role. GE, J&J, P&G. Hell even 5/3 bank as a great commercial associate program. I feel bad for you seniors out there because it is a terrible market to graudate in. But it is what it is! Even though most of these F500 leadership programs arn't all that "exciting", it is still a great opportunity while you wait for this market to HOPEFULLY turn around. Not to mention you actually will have a social life in addition to a decent salary. I interned at one of the above places a few summers ago, and I swore to myself I would never work there. However, if I was graduting in '09, I would pretty much force myself to do one of them.

 
cyclone4124:
I interned at one of the above places a few summers ago, and I swore to myself I would never work there.

so encouraging... really convinces me to start applying to the aforementioned programs! :D

 

I've been thinking a lot about these programs. How are the business school opps out of these leadership programs?

cyclone4124:
Quit purely looking at wall street for your opportunities. Obviously, a number of these posts signal that it is going to be damn near impossible to receive an offer within this "exciting" industry. Look, the times are shitty, but you know what? Deal with it. ADAPT! Look into F500 companies with leadership programs in finance and purse a FP&A role. GE, J&J, P&G. Hell even 5/3 bank as a great commercial associate program. I feel bad for you seniors out there because it is a terrible market to graudate in. But it is what it is! Even though most of these F500 leadership programs arn't all that "exciting", it is still a great opportunity while you wait for this market to HOPEFULLY turn around. Not to mention you actually will have a social life in addition to a decent salary. I interned at one of the above places a few summers ago, and I swore to myself I would never work there. However, if I was graduting in '09, I would pretty much force myself to do one of them.
 

wannabebanker, B-school will typically like seeing those leadership programs. I know that GE FMP's usually have a good shot at getting into top B school after completing their 2 year FMP program. However, GE looks down on their FMP's leaving for B-school. They way GE looks at it, their FMP is their own version of an MBA. I know....it's very different. However, I am pretty certain that the exit opportunities are great within the company after their entry level program. For example, I have a friend who got an offer to work within GE's M&A group after completing his 2 year program in GE capital. I also know that P&G's has a corporate strategy division.

 

Qui earum doloribus qui ipsam placeat vel beatae incidunt. Fugit eius qui sed eius sint perspiciatis. Aut blanditiis iusto autem incidunt voluptas dolorum. Molestias sint commodi nihil corporis molestiae. Quidem ea dolorem est molestiae. Non dolorem ut temporibus dolores voluptatem. Laboriosam et exercitationem cumque suscipit molestias quibusdam.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”