Is there a way for headhunters to work around the JPM recruiting ban?
Basically the title. Are JPM analysts essentially cooked for on cycle or is there any workaround that can occur to still let candidates “accept offers” without JPM screwing them over?
If they can’t, does this mean JPM kids recruiting for buyside roles are inherently going to get worse looks as a result of HHs and firms knowing the risk behind it?
Faster processes, timing late at night or on weekends, more seats off-cycle, etc. People worked around the GS ban for decades without much hullabaloo.
How would these solve it? Also, out of curiosity what GS ban are you referring to?
Faster processes = less time out of the office = harder to detect; late at night = less in-office tasks missed or emails not responded to; off-cycle = not a glut of associates out at the same time = harder to detect
GS ban was kinda fake tho no. The BUMs were bragging about their analysts' PE placements when I spoke to them. Jamie Dimon sounds pretty serious with this one.
He can sound serious all he wants, but if JPM M&A (and TMT or whatever) stop placing well and kids start not recruiting there, that's a terrible second-order effect and a total own goal. He thinks he has the pull to make on-cycle happen at a more "reasonable" time which...eh at best. But all this does is make people fake doctor's appointments and duck out at weird times and try to suss out which Associate at JPM is "trustworthy," etc.
Also the GS ban was not really fake in terms of monitoring--my peers had to come up with excuses, couldn't trust anyone (or had to figure out who was chill), etc. They bragged about placements for sure but Goldman Sachs being hypocritical is not really novel in the history of that firm or this country.
Stuff like this has been around forever. GS/MS banned PE recruiting like 12 years ago and everyone still interviewed/took jobs and the banks eventually caved.
Seems a bit more serious this time around no? Putting it in documentation and sending official notices seems legit? Not sure how it happened last time tho.
It was an explicit ban at GS too, I know people who were fired for accepting offers. In general the approach was to just keep it on the DL and if you were still plugged in / good on the job the seniors had a “don’t ask, don’t tell” approach. To the extent you were let go early, most PE firms would just let you start early though don’t know if that was universal.
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