Getting a shot at a coveted investment banking or finance job is a cutthroat, and sometimes controversial, business in China.
Career consulting firms have mushroomed in recent years, enlisting what they say are thousands of finance professionals to help open doors to students who can afford it. Firms are charging $12,000 or more to help students land internships and eventually jobs at Wall Street powerhouses such as Goldman Sachs Group Inc. and Citigroup Inc.
The programs offer an inside track to students by pairing them with bankers to help with strategy, networking, drafting letters and even internal referrals, touting success in landing jobs from Shanghai to New York. They also target Citadel LLC and others hedge funds, consultants such as McKinsey & Co. and local heavyweights like Citic Securities Co. When contacted by reporters, most of the companies disavowed having any relationships with the coaching firms.
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