What are the key decision points/elements of the recruitment process at SG Cowen?
SG Cowen has a very demanding recruitment process for new associates. The process consists of multiple “rounds”, begins in the fall of each year and comes to a close at the end of “Super Saturday”, which is the final round of the process. On Super Saturday, candidates core business schools are interviewed for positions of associates. The key elements of the recruitment process are: The targeting to the next 15 of the top 25 business schools, instead of the top 10. The company presentation at each of the core schools, in advance of the interview dates, by team captains. The chance for informational interviews in advance of the official ones. The testing for culture fit for the candidates
What is your evaluation of the process used by the firm, what are strong points and what are weak points? State your argument.
My personal evaluation of the process used by SG Cowen is that it is a very demanding process which consists of a structured and stringent plan for making hiring decisions. A very strong point of the process is Ray’s approach in that by focusing to the next 15 top schools you can find more loyal and competitive students. Additionally, by doing the informational interviews, the team captains can distinguish the students who really want to be prepared for the official interviews. Another positive point is that the candidates do not depend on one-vote decisions. Furthermore, the company’s CEO is present and provides support by giving speeches to attract new employees. On the other hand, there are some weak points in the process. Decision makers want to finish the procedure as quickly as possible, as the event is organized in their free time. This may lead to the wrong choice of candidates. Additionally, there is a potential bias in the selection process, due to personal preferences of the bankers and due to time constraints. Lastly, when some candidates have the...
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