Monday's Headlines: Young Professionals Want to Work at Google, Apple and Facebook, not IB
Social media and tech are where it's at. This is according to a recent Universum survey which asked 6,700 early-career professionals to name their dream employer from a list of 200. Google, Apple and Facebook came out on top, while financial services firms grew less popular since last year's survey, according to a Wall Street Journal article.
This is the second year Google topped the list, while financial services firms saw a drop in their ranking. Bank of America Merrill Lynch saw its rank plummet from No. 48 last year to No. 77. Accounting and management jobs also dropped in popularity, while oil and gas companies grew more attractive.
Google, the article stated, is attractive because it "established a very strong brand in what its culture is, in what it's like to work there... and candidates look at Google as compensating employees well and offering challenging work but at the same time it will be a fun and strong culture."
The survey also found 61 percent of young professionals want to leave their jobs within the next two years.
Universities worry about tent cities as Occupy Wall Street spreads to college campuses. [NYTimes]
Financial data firms are feeling the financial crunch. [WSJ]
BofA will sell most of its remaining holdings in China Construction Bank for $1.8 billion. [DealBook]
UniCredit announced a huge Q3 loss and shakeups of its IB operations and Central and Eastern European businesses. [WSJ]
Morgan Stanley's private equity unit in Asia is negotiating a purchase of about 80 percent of the $500 million Chinese packaging firm HCP Holdings. [Reuters]
Hedge fund Saba Capital is opening a London office to focus on European markets. [Financial Times]
Japan's three main banks seem unscathed so far by the European debt crisis. [WSJ]
Retail banks are quietly charging customer fees. [NY Times]