The infestation of EduTech companies (AmplifyMe etc.) trying to insert themselves in hiring processes (IBD, Markets...)
In the past 2-3 years, I've been noticing the rise of these companies like AmplifyMe who claim to have knowledge of areas of finance that they have no knowledge of.
Example: AmplifyMe are now fully embedded in the S&T AC of a major BB here in London which is really ridiculous especially if you are a student with no prior trading background, you'd be extremely disadvantaged.
They've also started an IB M&A and ECM simulator which is just total trash (I've tried it also during their pilot phase) and they're trying to push it to several big banks as part of the summer analyst selection process.
It gets even better: I read the other day they started a quant simulator to try and spot quants instead of using their academics.
(genuinely, have a look at it for yourself - total bullshit)
I'm not sure if they're smoking something strong there because how are they managing to do all of this despite having no real experience in M&A, ECM, quant or IBD? Their team is not competent with any professionals yet they tell all the HR departments of how useful it would be to their hiring process!
Eurgh
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