Word: crash
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Dates: during 1980-1989
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With Black Monday nearly two months in the past, the crash is now causing many graduating seniors to steer away from investment banking. Students who graduated last year and took investment banking jobs are also beginning to rethink their career choice...
...Harvard students are sophisticated and they read," says Linda Chernick, associate director of the Harvard Office of Career Services. "It's clear that the crash will have a definite impact on the numbers [of students who will choose to be recruited for investment banking], but no one knows what that will be this year as of yet because the deadline for February recruiting is not until December...
While investment banking firms insist that neither their financial analyst nor recruiting programs have changed as a result of the crash, the career no longer looks as appealing as it once did. Chernick says that she has suggested to students "because of the unusual situation this year and the obvious economic uncertainty, that it is a very good idea to have back-up plans and other options as alternatives to investment banking...
...glorified salaries and 100-hour work weeks, has attracted Harvard seniors who dream of business school and of getting rich. However, first-and second-year financial analysts who graduated from Harvard are warning prospective recruits that the field has lost a lot of its prestige because of the crash...
...banking was God's all--that this was it," says one disillusioned first-year analyst who asked not be identified. "But the hours are just not sane, my social life is totally shot and I don't even have the consolation of enjoying my job because now [following the crash] I'm just doing busy work...