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what about other banks like GS/MS/Barclays and the recognized boutiques like Centerview/Gleacher/Greenhill/Evercore/PerellaWeinberg, will they be hiring exclusively out of their summer class? Considering many banks had cut down on their intern class due to the economy, IF the economy is looking to improve do you guys think they might recruit from outside, or not really?

 
openOutcry:
one of my friends is summering there now in nyc, and was told they aren't doing ft recruiting at all this year.

While I don't doubt the validity of your story, how can they know that for sure? What if the economy improves or if they choose not to extend offers to enough summer analysts? I bet recruiting will be tough, but I doubt JPM will not recruit at all.

 

honestly- getting an internship while it's difficult, is definitely a lot easier than landing a FT position- remember as an intern you are a temp worker- HR and Finance don't have to authorize headcount for you and there are minimal costs associated with you being there- compensation, training, market data subscriptions, etc.

For FT, I can't see too many banks taking candidates they don't know over people who have been with them for 10 weeks. I did have some friends who interned at GS in undergrad and were able to find FT positions at HLHZ/Jeffries/old BofA. That was a better market than this obviously.

 

So forget JPM for a sec. But what is one supposed to do come this fall? I still think it was a good choice for me not to apply to back office (or was it)? I guess the best bet would be boutiques and smaller companies in various geographic locations cause the BB's will pretty much hire out of their summer classes (back office roles too)?

 
PussInBoots:
banker88, I'm talking with one of ex-senior bankers from JPM. I might be able to sneak in 1-2 questions from you if I they are interesting. PM me if you want.

I don't really have anything specific to ask, besides his general outlook on what recruiting will be like in the fall? I'm not getting my hopes up of JPM recruiting, let alone me getting a spot. If you find out anything interesting though, please post it. Thanks.

 

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