Can you guys in the industry provide any insight on how hiring will be for the 2011 summer analyst class? Do you think hiring will increase significantly from last year or will it continue to be anemic? This is for IBD as well as other positions.
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I'd expect a pretty robust hiring cycle this year. Banks, especially in the middle market, are getting absolutely crushed as business owners are looking to liquidate in 2010 in advance of cap gains tax rate increases. Now, obviously this leads to the question as to whether or not the current level of activity is sustainable. While I think we'll see a pretty dramatic slowdown in early 2011, I think mid/late 2011 will continue to be active. A lot of PE shops are holding investments that they would have otherwise sold in 2008/2009 and will be looking for a quick exit. This should lead to an active M&A market in 2011 as GPs look for provide some liquidity to their LPs.
Of course, I could be completely wrong.
very active..you should start getting in touch with ppl ASAP. although there will many opportunities, the FT / SA applications I've been seeing are highly competitive. i'm seeing more and more resumes with kids who've been doing banking internships since their freshman year..(not just target schools)
so the earlier you get your foot in the door, the better.
Hmm I know of a handful of firms with hiring freezes on... but perhaps those are nonrepresentative data points.
Hiring is up? Thats good news. Sounds like i'd better get rolling.
People are hiring, but mostly taking from FT. It's pretty brutal out there with so many kids battling for the remaining spots.
hiring is indeed up. however, my firm is taking most kids from the intern class (~85% offer rate).
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