Revoked Offers
Why has there been no talk of offers potentially being revoked for people who did internships this summer who were offered (and accepted jobs) on the street. I would assume offers will be revoked. Is there any reason to believe a lot of offers will not be revoked?
Well, Goldman just announced a 10% workforce reduction. Any chance this could affect seniors who've accepted jobs at GS already (for next year)?
Goldman handed out offers so late (at least for S&T), so unless things get even worse from here on out, then it was my impression that they would honor those offers. I had thought the whole point of them waiting so long to hand out offers was so that they would know how many people to hire for sure....but of course maybe that's just wishful thinking:)))
what about other banks? anyone have any general thoughts on this?
For instance, it's hard for me to fathom why BofA/ML will honor all incoming commitments to junior bankers while they chop off a large percentage of current bankers at both firms. Will they start pulling offers after the merger is completed (12/31/08)? Or are incoming analysts/associates safe at this point?
what about banks like UBS/CS/Barclays
i know Barclays honored all of the juniors' full-time offers they received at the end of the summer
Yes, but I think the question was, will they ACTUALLY offer them when next June/July rolls around...in reality, we will probably just have to wait and see....
I have a friend who had a full time offer comming out of the summer with Bear Stearns. She had signed on to be full time the following July. When Bear fell she was laid off. They paid her a year's analyst salary and wroter her a letter of recommendation for law school. Worst comes to worst you bank $60K and look for another job.
Can't imagine that is the typical comp for a revoked offer?
if class of 2009 offers are revoked, it will not happen until late may, june of 2009, or a few weeks before training starts. There are no answers yet. Way too much to wade thru before getting to that point. Read/overheard comment of very little or no signing bouses or relocation pay for FT 09. Can anyone confirm?
Signing bonuses from what I'm seeing are ranging from 10k to 15k...so fairly standard
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