Morning Coffee Mar 30 2012

Nomura Hunts for Top Students

By julie steinberg

If you're a college grad looking to get into investment banking, look no further than Nomura.

The Japanese bank has been using its two-year-old university recruiting program to find top talent. In order to gain an edge in recruiting the pick of the litter over its competitors, Nomura's program promises to triple the normal starting salary for its new hires, guaranteeing them $79,000, or 6.5 million yen, annually before bonuses, compared with its normal rate of 2.4 million yen. It's modeled after a recruiting program used at Lehman Brothers before the firm's bankruptcy in 2008.

So far, Nomura has brought on 50 graduates through the program. Last year, the firm hired about 600 recent graduates, 40 of whom were brought on through the specific program. Fifteen of its hires this year have landed spots within the firm's mergers and acquisitions team as the bank staffs up in anticipation of a rise in cross-border deals this year.

To land one of the spots, the bank expects candidates to score above 860 out of 990 on the Test of English for International Communication, which is taken by about two million people in Japan each year. Japanese firms also tend to offer jobs to students earlier than Western firms, sometimes a year in advance of graduation. In the region, the academic year concludes on the last day of March, and new hires are expected to begin work the next day. (Bloomberg)

Related: How to Get a Job Through On-Campus Recruitment

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Despite Wall Street's falling star over the past few years, students are lining up in droves to get a foot in the door.

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Putting Pieces Together (WSJ)

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Falling Down (FINS)

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Moving Ahead (Forbes)

Beth Brooke, global vice chair of public policy at Ernst & Young, chats about making it to the top as a gay woman in corporate America.

New Rule (Federal Register)

The Equal Employment Opportunity Commission has submitted a new rule related to age discrimination.

Speaking Out (Rolling Stone)

One disillusioned Dartmouth grad wants to dismantle a fraternity system that spawns Wall Street's future employees.

Buzz Around the Office

A Blast from the Past (YouTube)

Cartoon Network is bringing back its mid '90s Hanna-Barbera shows, from Space Ghost to Powerpuff Girls.

List of the Day: The Elevator Pitch

It helps to have a short story ready when you run into a bigwig in the halls.

1. Keep it short, around 30 seconds.

2. Mix in business and personal details.

3. Rehearse, rehearse, rehearse.

(Source: Forbes)




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