<p>A large problem right now for undergraduates of some of the top b-schools across the nation are not able to place jobs in IB. A main reason being the competition from experienced finance folk from Bear Sterns and Lehman Bros. When the economy turns around hiring will likely begin to increase. </p>
<p>How long do you think it will take to clear the laid off bear sterns/lehman people and start hiring undergrads again?</p>
<p>The reason I ask is because I am entering b-school as an undergrad now and am concerned. Most say four years is a long time for things to turn around, but again with so many people out there that have invested thousands into their education and are unemployed or possibly worse underemployed… it makes me uncomfortable.</p>
<p>It’s really not about absorbing the layed off people, most of those are not competing for the analyst jobs new college grads are hired for. The best have already been hired and most others will remain outside of the industry. Who knows where we’ll be in 4 years re ibanking, but I wouldn’t let that change your plans to study business.</p>
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<p>Blatantly false.</p>
<p>Take a group at a BB working on an sub $250mm M&A deal. You don’t need 30 analysts on the deal team; you need 2-3. Banks are scaling back the number of analysts they hire across the board – of course they’re going to want to hire the laterals with experience over fresh faced college grads. Both UBS and Moelis & Co. are great examples of that.</p>
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<p>That is not blatantly false. True, there is some lateral movement, particularly among superstars with huge client lists, but among laid off analysts? Not so much. It has been difficult for them to break back in, because very few firms are actively searching for analysts from other firms. FT recruiting has been cut for sure, but at the junior level banks seem to still prefer to harvest their own talent. There is some truth in both sides, but it is not blatantly false like you say.</p>
<p>I always love when college students tell me who BB’s are hiring. Don’t remember seeing any at my last meeting discussing this issue so it must be at other banks where they’re part of the process.</p>
<p>Ha ha …</p>
<p>wouldn’t worry too much about it since it’s out of your hands. just focus on studying and learning business.</p>
<p>barclays hired a LOT of the former lehman ppl.</p>
<p>the firm i worked still came to our school for full time this past year. 2010 full time hiring might be about the same or a little worse than 2009.</p>