My friend was sitting on a decent FT offer from Bear (not IBD/S&T) for the last few months until JPM saved the world.
At first he went crazy, hit the bottle, and became very very sad. But then HR called him yesterday and said that "JP Morgan will be honoring Bear Stearns full-time contracts, so don't worry!"
So, he gets hired by Bear Stearns and now gets to work for JP Morgan next year. That's a pretty decent ROI if you ask me!
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sounds like great news. LEH and GS both beat estimates, fed drops the rate 100bps, maybe this is beginning of the end! (doubt it..)
is this for prime brokerage?
I have heard other rumors, but this seems like good news for those bear FT people starting this summer.
And then when said friend doesn't get a job offer at the end of the summer because not even all of the original JPM recruits will....
Look if the OPs information is correct, and for some reason the Bear interns are mixed in with the JP interns...all bets are off once the summer starts. You're in just as good of a position to earn a FT offer as anyone JP recruited. It's all in your hands - perform well and you'll be fine. Don't sell yourself short already.
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