HRM-SG Cowan
Case: SG Cowen: New Recruits
Human Resource Management
Submitted by:
Group 9
Case Summary
SG Cowen is a boutique sized investment banking (I-bank) firm, which was formed when Cowen and Co. was bought by French banking giant Société Générale in 1998 with the purpose of finding a foothold in USA. Presently, SG Cowen's investment bankers focused on emerging growth companies in two high-risk & high-gain areas: health care and technology; its equity research team was highly regarded for the depth of knowledge and coverage of these two focus areas.
As the needs/target of I-banks were niche, so there was a battle for hiring talent. Each bank had to have a sure shot well defined hiring strategy to get the right mix of knowledge, skill, and attitude. The case shows that SG Cowen is in the process of hiring a new class of associates. In this process, there remain two available positions, and Chip Rae, the Director of Recruiting, and a group of 30 bankers have four candidates to choose from. The group is having a hard time deciding how they will extend the offers, primarily due to their different opinions based on a raw formatted evaluation system.
Let's delve into the hiring process/strategy of SG Cowen. The I-bank has three pronged approach to hiring a new class of associates:
1) Some were promoted to first year associates at the end of their three year stint with the firm.
2) Some, who started off as interns between their first and second year of B-school, were subsequently promoted at the end of their internship.
3) New outside candidates were also hired as associates, as a part of SG Cowen's on campus recruiting process targeted to some core B-schools. SG Cowen also accepted resumes from non-core B-Schools students.
Initially SG Cowen only recruited from the top 10 of the Top 25 B-schools. But with Gregg Schoenberg's initiative, the firm had become more receptive to targeting the 15 B-schools that
Human Resource Management
Submitted by:
Group 9
Case Summary
SG Cowen is a boutique sized investment banking (I-bank) firm, which was formed when Cowen and Co. was bought by French banking giant Société Générale in 1998 with the purpose of finding a foothold in USA. Presently, SG Cowen's investment bankers focused on emerging growth companies in two high-risk & high-gain areas: health care and technology; its equity research team was highly regarded for the depth of knowledge and coverage of these two focus areas.
As the needs/target of I-banks were niche, so there was a battle for hiring talent. Each bank had to have a sure shot well defined hiring strategy to get the right mix of knowledge, skill, and attitude. The case shows that SG Cowen is in the process of hiring a new class of associates. In this process, there remain two available positions, and Chip Rae, the Director of Recruiting, and a group of 30 bankers have four candidates to choose from. The group is having a hard time deciding how they will extend the offers, primarily due to their different opinions based on a raw formatted evaluation system.
Let's delve into the hiring process/strategy of SG Cowen. The I-bank has three pronged approach to hiring a new class of associates:
1) Some were promoted to first year associates at the end of their three year stint with the firm.
2) Some, who started off as interns between their first and second year of B-school, were subsequently promoted at the end of their internship.
3) New outside candidates were also hired as associates, as a part of SG Cowen's on campus recruiting process targeted to some core B-schools. SG Cowen also accepted resumes from non-core B-Schools students.
Initially SG Cowen only recruited from the top 10 of the Top 25 B-schools. But with Gregg Schoenberg's initiative, the firm had become more receptive to targeting the 15 B-schools that