i think this post would give some insight for some of the SA's starting this year on how full-time recruiting will be like in the upcoming year, and also for those who are looking for FT jobs next year
so i thought i had passed the biggest hurdle when i weathered the credit crisis and difficult recruitment market and landed ain HK. however, i got a call just today from HR Grad Recruit who had told me due to bad market conditions etc etc "we (they) do not feel that there will be enough work and deals going around in the /associate class, so we have put you into another division." out of the class of 8 summer analysts only 2 were staffed in IBD, the rest in S&T/AM/Private Banking. i asked about rotating me onto IB deals for part of my SA internship but they said that this was unlikely due to the few deals going around and that they had done their best to negotiate suitable roles for the interns.
did my being switched to another division have anything to do with my credentials and my non-finance background? being switched into something else was a bit of a disappointment for me considering how hard i worked for IBD and how much more difficult it took to land the IBD SA, but i guess having this happen to me is a lot better than having your SA/FT taken away.
i also asked the Grad Recruitment whether they were planning to recruit anyone for full-time and her answer was they were NOT planning to recruit anyone for IBD and S&T this year. they said to do my best in the SA and that things could change over the summer...
if this happened to you, what would you do and what advice would you give? should i push for them to let me help on deals in IBD since that would likely be the only chance to get involved in IBD work, or just do my best in my new role?
what would i write on my CV after the SA? would i be able to put down i worked for IBD but write down things that i did in the other division, or do i put down the other division and say that i was accepted into IBD but moved over?
so, seems like the effects of the crisis are starting to have a big effect on IBD recruitment in Asia and probably other non-Europe/USA offices...