tomahawk518

Hi,

Although I've applied for ibanking summer analyst positions, I believe that may chances are slim for getting an offer. I have so far heard back from two banks: 1 rejection and 1 interview. The interview, however, will only be for a single opening for which I will compete against 29 other hopefuls. Also, my friend quoted his former boss at MOrgan Stanley investment management (NY) that MS is probably only hiring a handful of summer analysts. So, chances look grim.

Now, is there any other internship I could do that would set me up to apply for full time positions in IB next year. I have done private wealth, and I don't want to be stuck in a static corporate environment.

Thanks,

Gene

tomahawk518

bump bump... bump

openingdoors

That's not true. I actually just went to a ibanking workshop and a GS recruiter said on the record that GS expects to hire about the same number of SA as last summer. I think firms that are relatively unscathed by the subprime mortgage debacle will continue to hire SA and that includes GS, MS, UBS, DB, CS, and JPM. Besides keeping around a bit of low paying "fat" is in the firm's best interest. On the other hand, firms that are in some trouble may retreat from the hiring process a bit - BoA, Wach, BS, ML, and Citi.

But if you're intent on finding another internship, look at investment boutiques. A lot of them are not as heavily leveraged in their MBS.

anon134

Openingdoors; basically, what you're saying is that you like to regurgitate information that you find on the internet and advise as if you had a clue regarding the subject of which you speak?

Analyst Layoffs | WallStreetOasis.com

Judging from your other posts, you seem obsessed w/ ibanking, yet know nothing about the industry. I love naive freshman who are arrogant as hell, thinking they know everything in the world, yet are actually clueless. 25% bonus for first year analysts? Please, you couldn't retain me in operations w/ a 25% bonus, nevermind IBD.

illumin4tus

i don't believe its as bad as people are making it out to be.

openingdoors

Don't shoot the messenger, anon. I never claimed I knew "everything about th world" - I'm learning about the industry, just like a lot of other students. WallStreetOasis happens to be a good source of information; if I see something worth mentioning, I'll do so.

You made a new account to tell me this? I'm flattered, big guy.

tomahawk518

Thanks guys,

Hopefully something good will come out of this.

-Gene