Recruiting Remains Low, Despite Slight Rise

Continuing the scaled back recruiting efforts of the past two years, fewer investment banks and consulting firms will interview on-campus this year than in 2000 in what the Office of Career Services (OCS) attributes to the failure of the dot-coms and the post Sept. 11 economic slowdown.

But in an optimistic sign for seniors, the number of investment banks and consulting firms interviewing on campus has risen slightly compared to last year’s figures, according to OCS Director of Recruiting Judy Murray.

“A few consulting firms have added schedules for on-campus interviews this fall, which is a good sign for graduating seniors,” Murray said.

The number of overall companies interviewing at Harvard this year is also slightly higher compared to last year, increasing the number of public service opportunities available to undergraduates, Murray said.

This fall, more than 30 consulting firms and 70 investment banking firms are expected on campus compared to the approximately 125 companies overall that interviewed students on campus last year.

In the first year after the cutbacks, some companies trimmed their on-campus interview schedule in the fall to cut the number of fall interviews offered by as much as a third. Murray then likened the recruitment process to a “cannonball.”

But the competitive job market hasn’t seemed to faze seniors. Interest has remained consistently high over the past several years, Murray said.

Attendance at OCS’ annual preparatory seminars seems to confirm student interest.

The aisles overflowed in Science Center A yesterday night when students like Bernard S. Yoo ’03—who hopes to work in an investment bank after graduation—crowded into the auditorium to glean tips from a case interview workshop sponsored by The Boston Consulting Group.

“Recruiting is an intense process, but I’m willing to jump through hoops to find a job,” Yoo said. “[I] feel pretty prepared and confident for the months ahead.”

Morgen D. Peck ’03 said she considers the field of investment banking and consulting naturally competitive.

“Given the fact that you have to go out and find the jobs yourself, it’s a competitive career anyway,” she said.

But despite the slight rise in the overall number of companies interviewing at Harvard relative to last year, Murray cautioned that students need to prepare themselves to face a highly-competitive industry.

“Students can’t take the matters of their careers lightly anymore,” Murray said. “[But] if they work hard on their resumes and interviewing skills and are proactive, there are opportunities out there.”

She urged students to take advantage of OCS and similar on-campus organizations as the interview and recruiting season begins.

At least one senior said he was worried about the prospect of fewer jobs and more competition.

Robert C. Higgins ’03 said he researched several investment banking firms and the OCS website to make himself a competitive recruit, but is also considering entering the pharmaceutical industry.

“The economic slump makes me want to keep my job options open,” he said.