I was at Lehman but my group was sold so I still have a job. However, I am hearing from friends in different fields that lay offs are around the corner. Talking to some friends in b school and a few are worried if offers will be granted. My father works for post office and even they are in a hiring freeze. Any one here looking for options in terms of lay offs?
goldenboy09 Wrote: ------------------------------------------------------- > My > father works for post office and even they are in > a hiring freeze. > > Any one here looking for options in terms of lay > offs? Dude, you are scaring the hell out of me. The hiring freeze at the post office - how is that linked to the financial markets? They could have had a freeze going on for a long time - w/o ebay the post office would have had shed 30% of its staff a long time ago.
Hey goldenboy, did you hear the enery trading layoff’s in most of the banks? Just pray that nobody catches the falling knife and each one is able to stick around to their jobs till the end of 09.
i’m guessing grad school (PHD level) will become alot more popular (and i’m serious, not being sarcastic)
I just got a job in b/o trade settlement a week ago so I’m doing good. My firm is doing layoffs though.
If I get laid off, I will try to find another job in private equity. If that doesn’t work, I’ll probably just chill, do some volunteer work, and exercise a lot while writing some b-school apps.
grad from b school, june 08, still looking. talk about bad timing. only good news this summer was dusting CFA 1/CAIA 1. otherwise, Im surprised I still havent gotten some fishwire and done a “shawshank redemption/brooks move” on myself. anyone seen red? I need some blades
I am going to learn stuff from a well-known MFE program and be ready to create more structured sh!ts when the markets find their legs again, right in time to screw all of you all over again. ha
in fact, I already created one: it’s called counterparty default swap
numi Wrote: ------------------------------------------------------- > If I get laid off, I will try to find another job > in private equity. If that doesn’t work, I’ll > probably just chill, do some volunteer work, and > exercise a lot while writing some b-school apps. Howz the deal flow at your firm numi? Also, what do you think about M&A? Surely, the skills in PE should be transferable to M&A. And this bloodbath is likely to produce some good acquisitions candidates and w/o cheap debt, do you think that corporate takeover market is likely to pick up a bit?
dinesh.sundrani everyone I have talked to is flat. I had a quite shocking happy hour this week and got direct feedback that most firms in my city are not hiring.
westbruin Wrote: ------------------------------------------------------- > i’m guessing grad school (PHD level) will become > alot more popular (and i’m serious, not being > sarcastic) That sounds about right. I know at least I’m thinking about it. It will give you a good 4 - 6 years to let things die down. Plus, most PhD programs provide full funding and a stipend. You’ll still be a poor student; but, at least you’ll be paid to learn and won’t have to worry about room and board and feeding yourself. Plus, after you finish your two years of course work and actually start doing research you can consult in the industry to build up your resume for the next 3 - 4 years. At least this is what a few of my friends have been doing and it’s not that bad, I guess . . .
Well, after L2 results, I have circulated my CV to each and every investment related firm and recruitment agency, in the hope that even if not now, they might look at my resume sometime later. Apart from that, continuing with job and working hard to learn more and more…also developing financial knowledge by reading FT, WSJ, Economist and watching CNBC on a regular basis, so that if I get an interview call (rare case scenario), I can be prepared to talk about the financial markets, deals etc.
I am involved in MBA recruiting for my firm (not in the fin. services industry) and we are going slow for those graduating next fiscal year. There is a hiring freeze for this fiscal.
YEah, I feel sorry for the 2009 - 2011 MBA grads looking to work in finance. There were some '07 MBA grads (about 30 in total) that worked at my firm and were “let go” after their first ten months on the job. And these were kids from top 10 MBA (top 3 Finance programs).
add to this potent mix, the woes of an international student (H1-B, OPT) and you have a recipe for disaster - so many things that these grads never anticipated when they got their acceptance letters and set sail…
me1999now, wow. I have a few friends in 09 class with offers on wall street. Some offers are being honored and some are not. None are at top 10 but top 11-20. everyone in 07 class have already “posted” out of training and on desk budget not HR anymore so think they are fine. We only had 3 not 30.
my company is looking to increase our m&a activity (my department). we’re one of the few non-essential consumer goods companies that’s surviving. we’re looking to pick up some bargains while we can
I’m really struggling with the b-school decision right now. I’ve been accepted to a top ten school and I’ve always planned on attending business school but my concern over attending has increased substantially over the past few weeks. I’m considering trying to defer but know the opportunity cost of attending will just go up and up and up. I make an earnest effort to not get too caught up in sentiment, but the more macro evidence I see the more concerned I’m getting.
soma80… good luck with your decesion and congrads are getting accepted. I was looking to apply next fall and now second guessing.