This structure decreases the fatigue and monotony of one-on-one interview and also there is no room of unfair advantage towards any candidate since the decision to hire is a collective one. The biggest flaw in this process is again the lack of trained HR representatives. The senior bankers have different experiences and perspectives and lack the HR training required for such operations. This can lead to biasing and stereotyping (Halo effect) against the candidates. Also, if we look closely towards the case, we can deduce that when the bankers take time out of their weekends, they are generally in a hurry to go home and this might lead to wrong selection of candidate since they try to avoid long discussions on a particular candidate. The last problem being faced by SG Cowen was to select 2 candidates from 4 candidates left. This year SG Cowen have a requirement of 30 candidates for associate role. 15 candidates were already picked up from the already working analyst and offers given to the interns at the end of their internships. Chip Rae is now thinking of giving out 20 offers from which at least 15 will be joining the firm (deduced from previous year trend). Other candidates were clear yeses or nos from the bankers but
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SG Cowen: New Recruits 5 | P a g efor the last two position there was a lot of confusion between 4 candidates with equally good profiles. Natalya Godlewska, is a top multilingual MBA graduate of Cornell, with highest GPA, relevant work experience with excellent reference from previous employer. The only concern of bankers was that she was a little stiff during the small talks and her not perfect English may trouble impatient bankers. Martin Street, a Wharton MBA with 4 years of experience in military but no business experience. Although all bankers found his personality dynamic but the concern was around his absence of business experience and also his GPA was concealed due to Wharton policy. There was another concern that he was delaying the process as he was in recruiting process from other firms. Ken Goldstein, Berkeley MBA, a former top employee in PWC with excellent references and business knowledge. But later it was revealed that he is married with two kids. So, it was a concern that he may not be that committed towards his work here. Also, since he was in top management at PWC, he might not be good at taking orders from the management here at SG Cowen. Andy Sanchez, University of Southern California MBA, an entrepreneur who owned a company with $2 million revenue, an organisation he worked on along with his studies. But the bankers are concerned about his low GPA in under and post graduate. So, all the 4 candidates have a good profile and references and were better in some way one over the other.