Headline June 21, 2016/ ''' ONE BANK : 250,000 STUDENTS JOBSEEKERS '''

''' ONE BANK : 


THE DEVELOPING WORLD  -say, a country like Pakistan, I dare say, the corporate world, when the economy is recessed, goes secretive and terribly insecure.

How many internees are you hiring? How many openings do you have? What responsibility do you feel for the students? Have you a contingency plan?  How can you lend a helping hand? 

Their first reaction is to stone-wall. Refuse to talk. Refuse to disclose. Give me a run around and send  me into a circle of no joy. Great companies never do that. 

!WOW! is a well-wisher, no offense or disrespect is ever intended. I am just asking you to re-visit your national and corporate responsibilities.  

WHILE THE MASTER JAPANESE  APP *LINE*  -sends growth message to US and Europe and then to  the rest of the world- Job creation for this next year, globally, around 33,000.

GOLDMAN SACHS attracted more than  *a quarter of a million* applications from students and graduates for jobs this summer, suggesting fears of a ''brain drain in the sector may be exaggerated as banks introduce more employee-friendly policies.

Applications globally rose more than  40%   since 2012,  according to figures given to the Financial Times. The data can include more than one application per individual.

The numbers show  Goldman Sachs is attracting far more  would-be-bankers than it could employ. JPMorgan said it was hiring only 2 per cent of the graduate applicants to its investment banking division-

And at the Citigroup, the proportion of would-be analysts and associates hired in its global investment banking division is 2.7 per cent.
Other banks are experiencing higher application levels and improved retention despite the battering the industry's reputation has taken for everything from long hours to causing a crisis that inflicted  *poverty on a generation*.

A separate analysis by the  Financial Times  showed banking has fallen sharply in popularity among   MBA  graduates from the world's top 10 business schools.

''The idea that people suddenly don't want to go into banking   -or if they do go into banking that they stay for a bit and leave immediately    - a lot of that has been exaggerated,''  said Sam Dean,  Barclays' co-head of Emea banking, who has special responsibility for talent.

The higher number of applications partly reflect the fact that there are fewer investment banks now.

Recruitment companies also said investment bank was rebounding as a desirable profession partly because of a concerted effort to end their workaholic culture.

''They are trying to replicate the  Google model,'' said Bernie Toole, who heads the investment banking unit at Selby Jennings. ''Before, they used to churn analysts, now they are trying to attract, and retain them by introducing more positive-culture.''

*Goldman hired  9,700  people  at all levels last year. Its 2016 applicants include  223, 849  undergraduates  applying for summer jobs and new analyst positions*.

JPMorgan had  40%  more graduate applications for investment banking this year than in 2014, but would not give a figure. Morgan Stanley said its North American investment banking division-

*Was now attracting about 8,000 applications, for just over 100 spots*.

Bank of America Merrill Lynch said it offered jobs to only 3 per cent of its applicants, while-

Deutsche Bank said its investment bank had a 14 per cent rise intern applications globally this year, and hired 9 per cent of more interns than a year ago.

BUT THEN THE BIG PICTURE :  On June 23, UK will vote on whether to remain in the EU. On November 8,  the US will vote on whether to elect Donald Trump as President.

These elections have much in common. Both could lead to outcomes that would have seemed inconceivable not long ago.

''The economic consequences of a Donald Trump win would be severe,'' writes Professor Lawrence Summers, Charles W. Eliot university professor at Harvard and a former US Treasury secretary:

''If Donald Trump is elected, I would expect a protracted recession to begin within 18 months,'' he goes on to add. ''And that would be pure hell for the global employment market".

*Markets are discounting the possibility of a Donald Trump presidency. Let us all pray that they are right*.

With respectful dedication to the Leaders of the free world, Parents, Students, Professors and Teachers. See Ya all on !WOW!  -the World Students Society and !E-WOW!  -the Ecosystem 2011:

''' Political & Fiscal Union '''

Good Night and God Bless

SAM Daily Times - the Voice of the Voiceless


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