In light of the recent economic troubles facing the U.S. business market, the Commerce School is stepping up its efforts to prepare students for the job market, especially those interested in investment banking.
Tom Fitch, assistant dean of career services at the Commerce School, said Commerce Career Services is trying to give students who want to go into investment banking more options outside of the big banking or “bulge bracket” firms because a number of those firms have recently filed for bankruptcy.
“We might be pointing [Commerce students] in the directions of more alternative types, locations and sizes of firms,” Fitch said. “The bulge bracket firms may not be the best fit for all of our students, so we are always looking to vary our number and types of employers for students as they look for jobs.”
Fitch explained that nearly 40 percent of 2008 Commerce graduates reported that they were going into investment banking. Among the top-hiring firms for students were J.P. Morgan, Lehman Brothers and Morgan Stanley, Fitch said.
Commerce Career Services plans to help students who are trying to decide whether to follow investment banking career paths by holding a series of workshops intended to help students understand career options beyond investment banking.
Commerce Career Services also plans to help students find new jobs if offers from investment banking firms are rescinded. So far, however, Fitch said there have been no notices of rescinded offers.
Fourth-year Commerce student Yi-Xian Ng said the recent economic problems have been “a shock” to him and fellow Commerce students, but noted the Commerce School has been very helpful to students in tough economic times.
“I think for a few days [the Commerce School] has just been trying to get a hold of the situation and now they’re trying to gauge the impact [of] the challenging environment of the economy this year,” Ng said.
Ng said he believes the career services department at the Commerce School has been especially helpful to students.
“The thing about career services is it’s such a personalized department,” Ng said. “They seem to be branching out to other fields of finance and [are] directing [graduates] in that direction.”
Read More
U.Va.’s Finals Weekend spotlights the achievement and service of the Class of 2025
By Leigh Bailey | YesterdayIn University President Jim Ryan’s welcome address, he acknowledged the support of family members and friends present in the audience and beyond that played supportive roles in these graduates’ lives.
Students reflect on the election of first American pope
By Bertie Azqueta | 2 days agoCatholic students on Grounds expressed surprise about Leo’s election.
Fourth-Year Trustees reflect on efforts to create an engaged student body
By Jackie Bond | 2 days agoEdwards and Shortmann will be responsible for reunion events, including the Young Alumni Reunion which includes a celebration with alumni from the three most recent graduating classes.
