Hey all-
I got a phone call today from Bear's HR saying that, as of right now, JPM has committed to HONORING all accepted FT analyst/associate offers. Again, that is as of right now and may very well change. The person said that they hope to have everything figured out within a week or so.
Some good news, fellow Bears. At least for now.
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Honoring does not necessarily mean they're going to absorb the FT hires. It just means that they will respect those commitments and either
1)absorb them into JPM 2)pay severance to all the incoming hires
So, although I am really happy to hear this (I had heard this from another source as well), I think it's very likely they are just going to pay us to leave.
Well then, pessimistic perry. Aren't you a buzzkill. Either you get an opportunity to go work for JPM, a great beank, or they pay you a good amount of cash and you get the opportunity to reevaluate your situation and find something else. It could be worse - afterall they didn't have to do either of the 2 options.
And besides, it's better than you thought it would be as of a couple days ago, right?
That's some good news guys, I hope everything works out for all of you.
i specifically asked whether they would consider severances for those who are not retained, and the person said that "probably not for those who have not started yet." so..
i dunno, i was told there are 55 FT analyst hires for BSC. that's not THAT much. you might not get a prime office like NYC, Houston, etc., but if they do honor the offers you should find work at any other location. this is obviously running way too far out, but they might just throw you into some global office if you're ok with it. given you are able to do so (i.e. language skills, etc.). pure speculation on my part.
WACC - when you called, if they said that they were going to honor all ft analyst/associates how did the conversion about "those who are not retained" come up?
Thanks.
Can someone give me or direct me to a number where I can call up Bear HR?
Thanks WACC_attack.
Do you think they would do some selective picking. Like where they would pick up some IBD FT hires and let go some or take on the ones in Houston but not in SF or LA or NYC? Do you know what I'm getting at?
it is possible i guess. i have no idea whatsoever. i obviously hope they give all the option, at least. that is, "hey, we can't put you in NYC because it's already staffed....but here is utah, if you want." given, its not that enticing, but at least you have some control over your future.
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