Growth in job opportunities in the financial world is promising news to the many University seniors looking to apply this year. Among students who begin working after graduation, many see their futures in investment banking or consulting, and more investment banks and consulting companies say they see their futures in Princeton seniors.
The process of applying can be daunting, however. "Basically, [applying to these jobs] consumed my life," said Nina Sen '04.
But many indications point to an optimistic future for seniors like Sen. According to a survey conducted by the National Association of Colleges and Employers, this year, employers expect to hire 12.7 percent more new college graduates than they did in the 2002 – 2003 academic year.
About 50 percent of employers said they expected to hire more new college graduates, 28 percent plan to hire fewer than they did last year, and about 21 percent do not anticipate any change, the survey found.
The financial sector is part of the 50 percent that plans on hiring more new graduates.
Goldman Sachs reported a consistent number of University applicants for full-time positions from 2002 to 2003, but the company has increased its acceptances by 30 percent, said company media relations representative Gia Morón.
The company receives about 3,500 applications globally each month, she said.
"We have a very dedicated team of Goldman Sachs professionals committed to attending Princeton events, meeting students and advocating Princeton students of available positions at Goldman Sachs," Morón said.
Consulting firm Bain and Company received 10,000 applicants from the Northeast last year, said Bain recruiting manager Glenna Ryan.
Of those applicants, 250 were from Princeton. That number was cut down to 48 for the first round of interviews, and then cut again to 15 for the second round. In the end, only five University students were offered jobs.
Over the past few years, Bain has seen a 10 percent increase in applicants. The company is now offering more positions to meet the increase in demand, Ryan said.
"We're encouraging everyone to apply. We have lots of jobs to give, and we're very excited about the candidates at Princeton," Ryan said.
Bain has only recently begun searching for prospective candidates on campus.
"We have been more aggressively targeting Princeton students and have been on campus as much as possible," Ryan said.
Traditionally, the University has been a prime target for recruiters from investment banks and consulting companies.
Goldman Sachs recruits from schools similar to Princeton, where it has consistently had a strong number of hires in the last few years, Morón said.
"At the end of the day, it's a people business," Morón said.
Investment banks such as Goldman Sachs handle mergers and acquisitions and issue securities for corporations, while consulting firms such as Bain help companies make management decisions and become more efficient.
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