I recently talked to a trader at a BB who went to wharton MBA. He told me that in his class, banking jobs at goldman or consulting gigs at McKinsey were not that coveted since so many people got them. He said the most desired firms were Blackstone, Citadel, and PIMCO. Each of those firms would interview around 100 students and only give out like 2 or 3 offers.
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It's no surprise that buy-side jobs are more coveted and competitive than banking or consulting. Even more interesting to me is that PIMCO has an account mgr position, which is basically a client/sales/product development type job, that students at top schools are still gunning for...just because it's PIMCO.
diff firms recruit ft for mba & ug:
most coveted mba -- KKR, TPG, Carlyle, Davidson-Kempner, York, Moore, SAC, few others (less consistent representation)
most coveted ug -- GS PIA, BX PE, Citadel, DE Shaw, Apollo PE, Jane Street, AQR, Silver Lake, Fortress (these places recruit every year, but take max 2 people from ~300-500 who apply)
I had no idea Jane Street gets 300-500 applicants from wharton undergrad. the rest of the firms on that list are not surprising.
this info is quite inaccurate. KKR, TPG, and Carlyle don't even recruit at wharton. and for the undergrad jobs, 300-500 is too high, especially for citadel, de shaw, and jane street. those firms get a small number of applicants with very strong quant backgrounds.
I'm surprised to see HFs like Davidson Kempner on your list.
I was under the impression that PE is much more highly sought after. Is this not true?
I think it's not true. I think top HFs are just as sought after.
Why isn't BX-PE one of the most coveted jobs at wharton grad? Do they not recruit MBA from there?
Off the top of my head, last year Blackstone took 7 from Wharton undergrad, not sure about BX PE, and 9 the year before that. Silver Lake is the firm that normally takes two or three kids max. I'll check the VPUL survey and get you the exact numbers though. It is online:
2008:
www.vpul.upenn.edu/careerservices/wharton/surveys/Wharton2009Report.pdf
2009:
www.vpul.upenn.edu/careerservices/wharton/surveys/Wharton2009Report.pdf
[quote=monyet]Off the top of my head, last year Blackstone took 7 from Wharton undergrad, not sure about BX PE, and 9 the year before that. Silver Lake is the firm that normally takes two or three kids max. I'll check the VPUL survey and get you the exact numbers though. It is online:
2008:
www.vpul.upenn.edu/careerservices/wharton/surveys/Wharton2009Report.pdf
2009:
www.vpul.upenn.edu/careerservices/wharton/surveys/Wharton2009Report.pdf…]
Is there a similar report for their graduate school?
PE did not take 7. Blackstone took 7 people for PE and its advisory businesses such as M&A, restructuring, etc.
Are the actual placement figures by division available anwhere?
hahaha, calm down punk. I know how to edit my posts too. I was correcting your previous version. And don't bother checking the survey - it doesn't break down by division. I know that this year Blackstone has two FT from Wharton. Restructuring has 2-3.
Jesus, who goes through 75 OCR interviews? That's ridiculous.
Haha...just saw that myself. That's pretty insane! The dude probably included every interview he's had with every person at every company, or maybe it's the sum total of 4 years?
Well PE recruiting certainly seems incredibly selective.
At HYP undergrad, Silver Lake doesn't recruit, BX usually takes very few, Silver Point didn't recruit this year.
I wonder if that's the guy who got 16 offers.
That sounds about right. I am doing banking this summer and there were lots of banking opportunities available. There are also a ton of kids going to MBB for consulting. The kids looking to go into HF/PE are the ones who are really grinding it out.
From looking at the wharton undergrad data, it seems like citadel is a tougher place to get into than even blackstone.
yes Citadel is harder than blackstone. It's not necessarily because they are more prestigious/selective based on fit, but the technical skills and modeling skills required to work at Citadel. The interviews are much tougher at Citadel than most finance jobs.
the entering analyst class for citadel is really small. i think blackstone hired 40 analysts total this past year, but citadel will hire no more than 20. and their base salary is $100K, $20K signing bonus, and an annual bonus that can go up to $100K. plus, their training is awesome; they bring in professors from kellogg and uchicago booth to teach various courses on investments, derivatives, portfolio theory, etc.
i would say for undergrads, citadel is the 2nd toughest financial firm to get a job at. only DE Shaw is harder.
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