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Despite the view that the U.S. economy is sluggish and it's hard for new college graduates to get a job, financial services firms are hiring. In fact, top Wall Street companies are reaching out to the elite colleges in a huge way to bring in the best and brightest graduates whom they can groom to fit their cultures.
Campus recruiting at the top universities in computer science, engineering, and other technology-related majors has become increasingly important for building a leading-edge capital markets firm, technology executives tell Wall Street & Technology. With the rise of social media, mobile apps, and other innovative technologies, firms are looking to the colleges as a rich source of young IT talent.
When Blackstone Group, an investment and advisory firm known for its work in private equity and alternative asset management, hired William Murphy as its chief technology officer in September 2011, one of his first initiatives was to start an on-campus recruiting program. "I started a program on Day One," says Murphy, who targets the top tech schools on the East Coast, including Carnegie Mellon, Rensselear Polytechnic Institute (RPI), the University of Pennsylvania (his alma mater), and, locally, the Stevens Institute of Technology in Hoboken, N.J.
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