A good time to send your resume to an investment difference between private banking and investment banking is in November and December. Hires are usually made around January and February.
But don’t stop in February just because you haven’t hit your target. According to one analyst we spoke to it’s really crucial to be persistent. But at the same time, customize your approach to each person and bank. Similarly, Bank of America absorbed Merrill Lynch. Citigroup has laid off large numbers of people but is holding its own in 2010. 10 list of banks that are not at the top.
Investment banking is seeing massive consolidation. Today,firms are combining at an unprecedented rate. Recently, Merrill Lynch has merged into Bank of America. Lehman has merged into Barclays and Nomura and there is talk that other major firms may combine as well. The investment banking business is notoriously competitive. It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.