For those of us applying FT this summer/fall...

I know that JPM is not accepting ANY applications for IBD or S&T outside of their summer analysts. I was thinking that maybe it would be helpful to start a thread here about which banks are/are not hiring and for which positions. I think this would be helpful for all of us looking to get into the field FT if no offer at the end of the summer. If anyone knows the hiring status for different banks please post it here. Thanks guys.

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CS is having recruiting events in my school in the month of october. i am hearing that the interviewing process starts in september. anyone can clarify for me. is the september date only for the current SAs?

 

Most BBs will still be on campus "recruiting" in order to keep key relationships with target schools, however there are probably few, if any, available spots for analysts.

The ball gets rolling on 2009 budgets soon, so unless things drastically change fast, this fate will remain.

 

azwethinkweiz

i was told by a few interns in DB IBD that they were not recruiting for full time. havent heard about what S&T at DB is doing, though i dont think they are hiring much cuz they take most of their guys from summer.

lehman hires vast majority from summer, and they will probably do so again.

for JPM, i think they are interview some of the bear people for full time and summer, but i dont think they are doing full time either.

i was told during MS interviews that they will be hiring for full time becuase their summer class will be small this upcoming year.

i believe CS and GS are still doing recruiting for full time but im not sure.

though this is all just what ive heard from other interns and analysts.

 
Best Response

As for JPM, I am one of the Bear IBD guys who was promised an "early interview" at JPM for full time during the summer. As posted above, they did not specify which division it was for, and they clarified in our meeting that NO recruiting will be done by them for IBD or S&T outside their SA class at any schools or with us Bear guys, so we are interviewing for things like private and commercial bank, prime brokerage, credit risk management, etc.

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b2:
JPM not hiring FT is bullshit. I got an offer from JPM for full time.

I'm an ex-Bear equities S&T SA, and I find this very hard to believe. They clearly stated in our meeting on June 30th that they weren't hiring for S&T or IBD. In fact, they were encouraging us to try to get our foot in the door through other divisions since wall street was such a mess. They even deferred a large portion of their 2008 IBD class to 2009.

 

A) What division is this? B) Were/are you an SA there C) This post was dedicated to people applying for FT at the end of this summer/this fall, and therefore if you already received an offer from them you wouldn't be impacted by them not recruiting. I was straight up told by multiple HR people at JPM that they ARE NOT recruiting on any campus, or outside their SA class during this summer/fall for FT hiring in IBD and S&T.

But congrats on your offer nonetheless, seems like one of the best places to be at this point.

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I do not think MS will be hiring FT outside of their summer class. They barely hired anyone the last cycle around, and I have heard from here and there that they plan on exclusively going with summers.

 
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I have also heard that GS S&T will be hiring 30% of their Summer S&T people... which will comprise 80% of their S&T FT hiring. Leaving the rest of us to duke it out for that last 20%.

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that's simply false. i don't know where you get your info, but getting percentages such specific is bullshit.

also i heard from someone that your software had some serious security issues with it

 

CS are (according to their HR) not conducting a fast-track process in London this summer

Bit unusual for them, and could indicate that they are only looking at take FT analysts from the SA program in the UK this year...who knows

 

HR is a fucking joke, and anybody who's ever worked a day in a bank would know this. I passed up a JPM SA offer for a different BB bank, got an invite to a JPM "networking event" about a week ago, set up interviews, and got an offer. No, I am not a JPM SA and yes it is for IBD.

 
b2:
HR is a fucking joke, and anybody who's ever worked a day in a bank would know this. I passed up a JPM SA offer for a different BB bank, got an invite to a JPM "networking event" about a week ago, set up interviews, and got an offer. No, I am not a JPM SA and yes it is for IBD.

Having difficulty believing that a quality shop like JPM would want a fag like you on their payroll

 

I can't attest to b2's veracity or not, but his story is not unusual.

Early interviews do happen from summer networking events and ive had friends who had similar timelines.

What i always wonder tho is how in the world people in IBD have time to go to those. I've been getting out at 1-ish usually, well past any networking event time.

 

Maybe if anybody here was QUALITY then they would realize that this type of procedure happens all the time with top candidates. Most summer programs are nearly 70-80% over and most groups by now have an idea of to whom they will extend an offer and how many spots they need to fill (and most candidates should have an idea of whether they will receive an offer). I wouldn't doubt that the majority of the people here have never been Good bankers.

HR will pander their story to their given audience... telling weak candidates that hiring is stalled and telling strong candidates not to worry, hiring is still in full force. I know my current bank keeps reiterating to IB SAs that they hope to extend offers to 100% of the summers and keeps reassuring that hiring is going to be as strong as ever... I'm sure they tell a different story to people in whom they aren't as interested.

I'm partly glad that this downturn is weeding out the weak candidates cough IU students cough.

 

Summer internships 70%-80% over? I don't think so...

In London, internships of duration 10 weeks (vast majority) began on 23rd of June (again, the vast majority), meaning that interns are not even 3 weeks in yet, so really b2, please stop chatting shit

Who gives a crap if a bank is 'interested' in you as you claim, you're still an asshole, and no amount of money is going to change that homes

 

agree with above post. i mean if you dissed JPM in campus recruiting and then you are in your internship now at a bank that's worthy of your greatness then why would you skip out of work early to go to a networking event? maybe you're a fuck stick and you already know your group doesn't like you at ML? you do realize this entire board is now zeroing in on who you are and we all have friends at JPM.... hope your offer stays in tact. toolbag

oh yeah, and JPM... you mean the bank that has 150% too many summers (bear). riiiiiiight.

i wonder if the IT guys at ML would tell us who was on WSO at a certain time

 

1.) ihavenomoneynow is full of shit, because I'm not even at Merrill right now; he's merely pulling info from old posts because I had previously planned on accepting an offer from Merrill. I also didn't "defer my senior year" - whatever that means. Funny. If you know who I am, then post my name. Do it publicly. I'm calling you out.

2.) I never said that I accepted the FT offer from JPM, just that I have one. I'm still speaking with other banks.

3.) I'm already confident that I will receive an offer from my group at the end of the summer.

4.) x35109 obviously has never stepped foot in a bank in his life, given his comment... but I'll let him try and figure out where he fucked up. It's nice that you have "friends" in JPM - too bad that you'll never be there nor will you ever have any pull over occurrences there. Good luck.

It's funny how obvious it is when certain people who have never worked in a bank post, because their naiveté just shines through.

 

You don't want to be embarrassed publicly... I understand. Go take two weeks to talk to your "friend", during which, you'll mysteriously and slowly fade away and eventually disappear from this message board, only to reemerge with a new handle, however, still every bit as retarded. Good luck.

 

It's amazing that I began this thread to try and help people out who were actually concerned with applying for and getting a job this summer, not bitching like 12 year-old girls for days on end about absolutely nothing. Could a moderator please delete this post and either repost, or allow me to repost my original question to get some answers from people who actually take this site mildly seriously. WSO used to be a GREAT resource and now it is being flooded with people who just want to bicker. Please take your bullshit to facebook or myspace.

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