How Competitive is HR

not as competitive, but by no means an easy entry for anyone...example: campus recruiter from GS interviewed for FO, they said no and asked her back to do HR...take from that what you will

No, you're reaction was perfectly appropriate. While they do recruit HR from target schools, you get a VERY different caliber and type of person doing it. And they must train them to say that they "love interacting with people" because I've heard that from several HR reps before. These people are not even remotely finance professionals, don't let them tell you any differently. That being said, always be nice to HR. They helped me lateral within my bank to the desk I wanted.

joke at entry level aka the girls who plan events/dinners for interns

not as much of a joke at the more senior level - in charge of interviewing/hiring/compensation.

The one HR rep that I've met was from UCI and I know they do not recruit summer analysts or analysts from there at all.

Some will be former FO people. I've met several HR reps who were former bankers, so there are definitely some that know their stuff.

I have also surprisingly met a fair amount of former bankers who are now in HR/Recruiting, so the job must be somewhat competitive and somewhat interesting.

HR takes 1, 2, max 3 people each year, and these were in good markets. so its very competitive to get becuse there are much fewer positions.

*

Also, I agree with Jay Buhner was sweet. Do NOT underestimate the amount of influence that HR people have - especially during the recruitment process.

wow, how does the HR person's salary compared to bankers then? Anyone who wouldn't mind sharing? This is kinda new to me

Salaries in HR are very different from salaries in IBD. In HR, they are highly dependent on the specific function within HR. (ex: recruiting, compensation, HRIS, HRIT, etc.) Generally, the more quantitative and technical roles tend to have higher total compensation at both the junior and senior levels. This may vary across firms though.

Also, in contrast to a banker's total compensation package, an HR person will not be getting a large bonus, especially not at the junior levels. At the junior levels, you can expect to receive minor yearly salary increases (cost of living adjustments) instead. In addition, bonuses will only become relatively significant at the more senior levels, but they will be nowhere near bankers' bonuses for sure.

If you're looking for stability, HR is a good place to be -- the skills are transferable to pretty much any other HR dept. in other fields as well. However, if you're looking to be challenged, HR (especially at a BB) is not what you would want to be looking at.

It is true that HR at banks tend to be much more organized and advanced in terms of processes used and technology. (ex: recruiting techniques, HR software applications for internal use, etc.) However, don't expect this HR experience to be one in which you're able to apply all the techniques that you learned in any HR management classes. HR at banks is strictly limited in their role -- they are responsible for and expected to stay within their role of making sure processes are run efficiently and well. This is very reflective of how things are run in the front office as well, so it is certainly not surprising that they would expect HR to keep up with their need for efficiency and streamlined processes. Therefore, keep in mind that there is very little room for "creative" HR endeavors that you would more likely see in HR depts. in other industries. (ex: media, publishing, etc.)

Hope this helps.

my impression of HR people has been how worthless they generally are. that being said, I too have run into former FO people who became HR. usually they say really liked the culture of an organization, but decided they couldn't take the lifestyle or whatever, and so moved into some other function and eventually ended up in HR. my guess is that behind all the bullshit, there must be some real things that they do...especially since according to ejk, there are actually classes on this stuff, and "creative" HR endeavors.

i also agree that having HR on your side is never a bad thing.

getting into HR is a lot harder than people think. Firms rarely hire out of undergrad

GreedIsGoodGekko:

because I heard a girl who work in HR at a BB tell me that she could have gotten a front office role in S&T or IBD, but that she just relished interacting with people all day.

Every single HR person repeats this lie at some point to make themselves feel better. I have the same as you have almost word for word from multiple HR people and struggled to keep a straight face and look interested. Worst thing is they never get called out on it.