What is the chance of working for JPM or BSC if your a new FT hire
Im a upcomming may 08 hire for BSC. Ive had my job guaranteed by my HR rep. Its been pretty hard paying attention to all the BSC/JPM news thats hitting us everyday and honestly Im getting fed up with hearing about it because 90% of it just repeats itself.
Anyways, anyone know yet if new BSC hires that have their jobs guaranteed to them will be working under the BSC name or the JPM name? Any way to tell yet?
I believe the stock HR answer is that JPM will honor BSC offers but it's subject to change. I go to a target, and Career Services here says that they have been in talks with BSC but don't have any real information and said it's OK to explore other options.
Seems that until the dust settles anything is possible.
well I was told by my hr rep that my division will have a job. im supposed to get paper work confirming this in the mail this week.
i just hope that I get to work for JPM rather than BSC. I dont want 2 yrs of BSC experience on my resume if I can work for JPM.
I'd be more worried about having a job than which company name will be on the paychecks.
I know what you mean. I am happy that I have a job but if your about to invest 2 years of your life right out of college slaving for an Ibank wouldnt you want to be at the stronger bank? I mean these 2 years have a lot of bearing on how future grad schools and employeers will view my job credibility.
JPM just bought bear, whoever is left/hired will be a JPM employee. only the brokerage is supposed to remain under the Bear name (whether that be PCS or Prime brokerage is unknown, or at least according to todays articles I have seen).
Weswes: Which division do you work for?
I have several contacts at both JPM and BSC and the message is both clear and consistent: JPM is honoring all jobs.
This question cracks me up at the junior level because take every FT coming in at BSC, what is there like 40? At $100,000 total comp equates to $4,000,000. One lazy MD or two will equate that salary. No one is sweating junior people, and those being considered can easily move to the MM or other BB.
i had a question about JP honoring all offers. why? (not that i'm complaining, as i am one of those FT hires waiting to get some solid evidence my job is still there)
i understand we're the cheapest labor available, but so are the other 1st or second year analysts, some of which will most likely get cut. is it simply to presever good recruitment contacts?
Id say because of possible legal complications?
Also, maybe the 1st and 2nd year BSC analysts might get cut because of different training styles used by the two banks and or clash of culture?
Us 08 may ft starts dont have any experience so we are easily olded and we dont have any bear culture engrained in us?
But whos to say that the 1st or 2nd year analysts at bear dont get to keep their jobs at JPM? From what ive been reading it seems jpm is doing everything they can to keep bear employees.
I just want to know: who will be working for? JPM or will BSC keep its name.
I'll trade you.
Here's the answer to your question:
As soon as the deal thru - you will work for JPM. BSC will no longer even be listed on the exchange.
Now your turn:
What division are you with?
what about fixed income interns?
my friend who got an ops offer the week of the whole fiasco was guaranteed his spot a week later
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