<p>Was it nonexistent, or was it still pretty decent given the circumstances.</p>
<p>If it was nonexistent, is it due to less demand for AEM individuals than for Wharton individuals, lets say, or because of no demand in the industry as a whole.</p>
<p>Just wondering. </p>
<p>I guess the same could be asked of ILR and Hotel school individuals who are also interested in ibanking.</p>
<p>is this really a question? </p>
<p>some banks no longer even exist! of course there is less demand. and even the jobs available are not as lucrative. </p>
<p>that said, entering freshman might graduate into a booming economy again…</p>
<p>lol ? ?</p>
<p>^ not a joke! </p>
<p>I imagine many people had it tough.</p>
<p>It certainly was tougher this year. Normally, recruiters give out 3-4 or maybe more positions to top candidates. Only 1-2 people from each BB got offers for internships. Morgan didn’t even give anybody offers. I consider myself very lucky and some of my friends very lucky.</p>
<p>Here’s a straight answer coming from a student whose received numerous offers, worked for Citigroup and Goldman Sachs over the past year, and is currently a Junior at Cornell:</p>
<p>Was there a noticable decrease in recruiting from ibanks?
Absolutely. A lot of people who thought about heading to Wall St because of the promises of high pay and prestige are now heading to law school. Including some of the former interns I worked with at Goldman.</p>
<p>Specifics?
mrbojangles statement is entirely false. I received a final round interview with Morgan Stanley’s GWM Fixed Income Desk and turned it down for Goldman. I have several friends who interviewed for Research and S&T. Their recruiting was fine. Goldman recruited quite a few as well. UBS recruited full force. </p>
<p>In '06, any Cornellian who wanted an interview got one. This is not the case this year. You need to be qualified (3.5+ GPA and no spelling mistakes on your resume; not hard) and need to network a bit, but I landed several offers, so it’s not that difficult.</p>
<p>I have to say, the Cornell name made a world’s difference. If you’re at a school like NYU, you’re screwed. I would image that it’s way worse at a school like UPenn (an excellent school nonetheless) as well because EVERYONE wants to enter the business world so the ratio of applicants to positions is lower, whereas students at Cornell are more conducive to trying out for something else, ie law school.</p>
<p>The alumni have been absolutely amazing too. A lot of have come back to help and recruit. I have several friends who got offers. It’s pretty bad but definitely not as bad as I’ve seen at other schools.</p>
<p>=====
Edit: and I’m not in AEM. I’m an ILRie.</p>
<p>Jay1020, mrbojangles was not entirely false. For one thing, you’re a junior (he’s a soph) and I wouldn’t call fixed income real IB work. Ask around, there weren’t many real IB internships offered; only the grunt work of those banks. I worked at MS last summer in M&A and did the JPMorgan spring internship. My contacts at those firms said there was a drastic cutback this fall b/c of the economy. I’m a junior, too.</p>
<p>His question pertained to “ibank” as in investment banks. If he referred to or meant “the investment banking division” specifically, then, yes, recruiting for that particular division has been decimated with GS only interviewing five students. And, yes, Fixed Income is not investment banking work, and that’s why it’s under the S&T division, but bond math, structured products, and derivative strategies are definitely on the same level as elements like DCF and EBIT in investment banking.</p>