From a Cornell Daily Sun article:
“Hiring is very poor this year,†Prof. Charles Chang, finance, told The Sun. “There are less than half the offers going up than last year. The amount of callbacks is lower — last year maybe 8 out of 10 interns at a company would get hired. This year it will be more like 4 out of 10,†he said.
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Who is he getting his info from, was that cited.....
http://cornellsun.com/node/26141
Um... that man is an idiot.
Somehow I doubt this professor has his finger on the pulse of detailed recruiting figures.
Interns would be based on jobs available, so it makes sense that they would decrease offers to interns.
I go to a target state school and we saw about a 10-15% decreases in IBanking placements this year. Some banks were worse than others.
An especially bad year for non-targets, at least at my school, as the BB's that were hiring pretty much filled their spots with the minimum amount of kids they needed to take from target schools to maintain a relationship. I go to a pretty well-respected non-target or "alumni school," depending on what BB or MM you're talking about, and we usually place about 10-15 students a year in banking. This year, for full-time recruiting, we placed 4 kids. Numbers are going to be down a little at most schools, with maybe the exception of Wharton, etc.
I agree that things seem to be far worse than in past years, but that is to be expected. Who would deny that?
And if they are feeling the pain at the ivys, what are us poor non targets to do?
Coming from a non-target I feel the pain. Let's just say even knowing someone won't help you much this year...
are you guys talking about FT or SA?
That guy is a terrible, terrible writer.
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