SG Cowen - Case Study Example

Download file to see previous pages Societe Generale was an international bank founded in 1864 in France and after its collaboration with Cowen and Company; it came to be known as SG Cowen from the year 1998. By the year 2000, it had become one of the world’s largest banks in the world. By December 2000, they had acquired an asset of more than $430 billion. One of their aims was to place their foothold in the United States as an investment bank. At the inception SG Cowen had around 1,500 employees and they had planned to remain as a ‘boutique-sized firm’. The hiring process of the company starts in early spring and winter; therefore the candidates are expected to get involved with the company from summer. In spite of not going to business schools they have recruited various candidates as analysts and promote them to a first year associate when they complete their third year in the firm. A few candidates who have completed their internship of business school in SG Cowen get offer of full-time employment after their internship; therefore SG Cowen provide an opportunity for them to join in the subsequent summer after completing their course. Evaluation of the Hiring Process Used by the Firm SG Cowen accepts resumes from the students and conducts informal interview in their office before the formal first round of interview. Therefore, the students can get a chance to know about the industry and their various functions. In the meantime, the company can understand the desire, passion and seriousness of the students for the required position. The recruiting director of the company, Mr. Rae has chosen few banking professionals and bestowed the responsibility of captaining a team. The captain of the team is assigned for all those schools in which SG Cowen will go for campus recruitment. Prior to the commencement of the interview process, each captain of the team makes brief formal presentation of the company and then has an informal conversation with the students for a specified period of time. Subsequently, the informational interview is conducted. The students who are really interested for the company and its position make themselves thoroughly prepared for the first round interview. For selection of the candidate, SG Cowen follows two or three schedules which consist of both open and closed ones. In open schedule, the interests of the students are provided priorities and in closed one, the company selects the resumes of the candidates which have been previously submitted. In the first round of the interview session, the interviewers test the ‘culture fit’ of the candidates. They also try to find out the desired candidates who can make it during Super Saturday. Few bankers are generous in their judgment of the students while others are tough during their assessment. The details of the candidate’s profile are mentioned in the assessment sheet which may be helpful to the bankers. The six candidates out of twenty four have been shortlisted for the second round. The interview for the second round is conducted on the campus on the same night. Thus, the selected students can be invited for the Super Saturday. Super Saturday starts on Friday afternoon where selected candidates from different schools arrive and convene with the interviewers for cocktails and dinner at a restaurant. The next day, i.e. Saturday morning is again the time for final round interview. The interview session starts at nine consisting of five half-hour sessions for each candidate with short breaks. As a result, Super Saturday is hectic and exhausting for the interviewers and the interviewees as well. The interviewers have to come to a final decision related to the hiring process at the conclusion of this tiring procedure. After examining all ...Download file to see next pagesRead More