today a couple of my friends here in JPM were told that despite their excellent performance through the course of the internship, they won’t be hired because the desk doesn’t know if it’ll require an extra person in April next year (markets are kinda volatile nowadays – investment banking seems to be at the beginning of a downturn). another intern (tommy) has been told that he can’t be hired after ‘only a 10 week’ internship but since his performance has been excellent, he will be offered another internship (for a ‘full 6 months’) after which he might be hired!
JPM also refuses to recruit during final placements (when they’ll know exactly how many people they need and where) because they have a policy not to recruit MBAs without an internship (however, they recruit BSc’s from arbit british colleges without any internships – and if we’re offered a job it will be at the same position as these arbit firangs!!!).
don’t think JPM deserves to be given a slot on day zero…