What do you think?
Are offers lower than the past? (both for internship and graduate recruitment…)
Are they organizing ACs only for advertisement?
What do you think?
this year the recruitment has been far more compared to the previous year… both for interns and full-time positions. Next year should be even better.
The Problem is there are far more ‘graduates’ looking for jobs so the competition is tougher.
We have '08 graduates who lost their jobs in the heat of the recession, '09 graduates who found no jobs and '10 graduates graduating in June.
So yes, recruitment has picked up and companies are hiring more but they have a much larger pool to pick from.
In overview the supply is lacking behind far more than demand for jobs and still overall decrease in full time jobs. Very few banks are recruiting graduates aggressively besides Citi who are trying to expand again and Barcap and some other banks. But looking at it long term horizon, the recruitment should start picking up by next year. After the regulation storm dies down a bit, that has only just began…goddamn shares plummeting atm jesus…anyways when these storms are over, QEs done, potential double dip over then we can have few years of ok times and then who knows what happens.
I know that the overall “supply” is increased but what about demand/supply ratio? i guess this is the worst year…
think of it this way.
2008/09 starting ones were pretty much axed during the height of the financial crises. this equals:
Graduates of 09 without jobs applying for 2010
MSc graduates of 09 without jobs applying for 2010
People redundant applying for jobs of 2010 (Many of these went to do MSc)
MSc people are sometimes forced to apply internships like for JPM increasing competition for internships as well.
Final year degree students and MSc students as per usual applying for 2010
And regular career changers also applying for 2010 after seeing off the redundancies and feel its time to apply
So the demand increased by lots as people feel banks are hiring again and are spending their time applying (albeit fulltimes recruitment is over now). This is the general feeling.
ACs are often now fielded by candidates with MSc and prior experience.
Next year for 2011 people who didn’t get their ideal jobs may give up and slowly this level of competition returns to the “normal but still highly competitive level” unless another wave happens which I hope not but can’t control governments in US or UK who make decisions based on popularist votes not practical decision making…democrazy sigh.
NERVA10 made a pretty comprehensive analysis! Now, all we need is some Financial Modeling… maybe we should use Comps. Analysis to compare the three years… LOL.
There is one thing, I will must say - the number of people with prior experience applying is totally off the charts. I have been to an AC recently - I was the one only who was a proper student, the rest had Fulltime jobs or were Temping!!! - surprising!!! to say the least.