Recruiting News You Can Use: Banks Increasingly Hire Summer Interns As Full-Timers

According to efinancialcareers If you are a finance student without a summer internship offer in your pocket, you’re most definitely “behind the eight ball” today, says a career coach and former campus recruiter. Banks are increasingly hiring most, if not all, of their full-time analysts from their pool of summer interns, rather than going back on campus to hire additional recruits in the fall, Connie Thanasoulis-Cerrachio of New York-based Six Figure Start told eFinancialCareers.

In fact, one major bulge-bracket bank told her its entire full-time class will come from its pool of summer interns, said Thanasoulis-Cerrachio. Thus, while undergraduate and graduate students seeking positions in investment banking, sales and trading, and other capital markets slots may find a few opportunities available this fall, without a summer internship, they’ll be at a major disadvantage.

The good news is major banks have made almost no changes in their campus recruiting levels for the current season. “Banks will avoid that at all costs,” says Thanasoulis-Cerrachio. In a difficult economy like this one, some institutions might pull back just slightly, scheduling perhaps “10 percent less on-campus interview schedules—but they still will have a strong presence on campus.”

Find out more at http://news.efinancialcareers.com/News_ITEM/newsItemId-35316?source=EM:efc_namerica=18&om_rid=C4vYTB&om_mid=_BOjHkwB8dzGNtL