Found this interesting, the latest angle for college students is to pay for internships at ibanks...... http://www.bankersball.com/2008/01/04/buying-your-way-into-investment-banking/ http://www.summerinternships.com/finance-internships/ seems like money well spent, hopefully the cost doesn't spiral out of control for the average person. regards, surf
use it to back pack around europe..... life is much more than just what we think in our heads...peace
It's a sign that there's too much competition for entry level jobs in the industry. It's kinda like flight instructors offering to work for food in order to gain flight hours.
A friend of mine did this in London when we were in college. he worked for a sell side analyst and busted his ass that semester writing research reports. Landed a job a JP Morgan right out of college with a signing bonus and we went to university of Florida. Think of it like this, people who grew up with mommy and daddy's connections at harvard are doing the exact same thing - theyre paying way more for it too. this can give the poor saps who cant get in or afford the ivies a shot at competing with them later on. if you think that the world isnt filled with people gaming everyone else youre so wrong. im at a hedge fund now, but i had to bust my ass working my way up the totem pole through clerkships, TA, and operations jobs. the system sucks, and who the f--k wants to work at an i-bank anyway!
and just as an fyi, i work with alot of the silver spoon kids now, and frankly, none of them have an ounce of street smarts. they get spoon fed everything and don't have an ounce of humility in them. not saying this about all ivy kids, there are several that i work with that are great. i just cant stand the ones that come in for an interview and act like its their right to get a job here.
why? and what do you suggest to a unconnected student who wants to break in to the business? seems very reasonable and smart to me. surf
Surf, you are truly an inspiration. Always looking out for the very best for the little fella. We both think alike
You totally nailed this one surf. It's all about money, cronyism and connections. Gotta love it, not. I