Goldman Sachs is a popular sort of a place to work. We know this because earlier this year, Lloyd Blankfein and Gary Cohn disclosed that they received 43,000 applications for the bank’s 1,900 analyst positions in 2013. That’s half the population of, say. Bath. Not to be outdone, Morgan Stanley then revealed that it received a high number of applications too. 90,000 people applied for Morgan Stanley’s summer analyst and associate programmes this year, said Morgan Stanley CEO James Gorman.
Now, however, Google has blown Goldman Sachs and Morgan Stanley out of the water. Lazlo Block, ‘senior vice president of people operation’ at Google has mentioned that the technology company sometimes receives, ‘more than 50,000 resumes in a single week,‘ thereby setting a new benchmark for the truly enticing employment brand of the moment. Of course, there are caveats – Goldman and Morgan Stanley were referring solely to applications for their entry-level jobs and Lazlo Block was talking about applications for every single role at Google. Maybe Goldman sometimes receives 50,000 resumes a week too? Now is the time to say so if it wishes to reestablish preeminence.
Separately, there are banking professionals out there who are expecting to receive an average bonus of £268k ($440k) this year. Who are they? No less than securitization professionals, back from the dead according to figures from Emolument reported in the Telegraph. That may be wishful thinking, but then again securitization businesses have been having an exceptionally good year.
The highest-paid partner at Permira received £2.9m ($4.8m) last year, compared with £2.3m a year-earlier. (Bloomberg)
SocGen just hired two people for its natural resources and energy finance team. (Reuters)
Citi just bought Deutsche’s base metals trading business. (Reuters)
HSBC just appointed David Long head of equities in EMEA. Long joined in 2009 from JPMorgan. (Financial News)
Could the current state of bank regulation be a bonanza for software and consulting firms? (Dan Davies)
Deutsche Bank is developing a system that will engage in correlation analysis on a client-by-client basis on the trades that it did and did not win. (Euromoney)
How do you rebound from career setbacks? (Harvard Business Review)
How to dig yourself out of a sleep debt. (NYMag)
It’s getting harder to lie on your resume and not get caught. (WSJ)
The hottest place to work right now. (Twitter)
‘If the referendum succeeds, London could be transformed into a Hong Kong city-state off the coast of Northern Europe.’ (Bloomberg)