College student ooking forward to landing a job fresh out of school on Wall Street are probably out of luck. Several of the big investment banks are gone, and the survivors are making big cutbacks.
Dealscape points to a recent statistic from the National Association of Colleges and Employers that projects the banking industry will have the biggest drop in hiring among all sectors of new college graduates. The expected drop is a whopping 70.9%.
“Overall, companies expect a 21.6% decrease in new college graduate hires in 2009,” Dealscape writes.
The only area where new jobs are opening up appears to be Washington, DC. How’s that for stimulus?