Wharton senior loses investment banking job at Merrill Lynch over new law

After two summers of investment banking internship at Merrill, Wharton senior Nazli Oguzsimsaroglu has her job offer rescinded due to provisions in the stimulus package regarding the hiring of internationals.

Category:

News & Politics

Tags:

• TARP
• job loss
• stimulus package
• investment banking

[blueskyfisherman]

I feel sorry for this one. It's sad that "Americans" deny the opportunity for young internationals to thrive the American way. This is the main reason why our grandfathers emigrated from their respective countries, to prosper and achieve the American dream. To hell with that...

[tubelincoln]

Look out for American worker? what if they cannot get the job done? I-banking is not for everyone. especially lazy ass.

[MrUsedBooks]

I don't think a Wharton grad will have trouble getting another I banking offer.

[Peichen01]

We need to import Investment Bankers? What's next? Import more lawyer, fortune teller and politicians?

[energyfinance]

@unwicked91

Smart move to do some research, as you did!!

Corporate Intelligence can be a great work choice for smart and capable operators to consider.

It's NOT insider trading and it's NOT illegal -- if done properly.

"Closing deals' does NOT require working for a firm!!

I wonder if they taught THAT at Wharton.

[energyfinance]

Read your offer from ML!!  You have one, right?

sue ML.

Didn't you study some law at your 'top university' ?

What was you for of consideration in the deal?

Didn't you cancel some other plans because of this offer?

I went to a state college and learned enough to get rich.

The restriction on the TARP money are NOT relevant to your agreement with ML.

[dochokeana]

I think it's a tricky situation with no easy answer. On one hand yes it is unfair that a student who was accepted to come to US, go to college and then given a job offer had it suddenly taken away but on the other hand with high unemployment, can you really blame the restriction? Of course it would have been better had the companies that made offers BEFORE restrictions tried to find waivers (it takes a lot of paperwork but it's possible) for their job candidates.

[MegaUsername500]

It's not fair. America's supposed to be Santa Claus to the world, giving away the best of everything to foreign nationals.

[111ansac]

@rogercopple1 Not feasible, even if she wants. The loans to study in a school like Warton would be so high that you need to work in US for at-least 3-4 years to offset some debt.

[futuredoc2020]

@TRZbebop675 I want to go to Wharton but sometimes I worry that if I am accepted and go there I won't be able to get a job. Do you think if I go there and graduate I will be able to get a job on Wall Street?

[glidingneedles]

I can understand the political reason behind limiting jobs to Americans - it sells and politicians get re-elected. However, the argument that it is to give tax-payers an advantage makes no sense as foreigners also pay taxes, sometimes even more than Americans on a benefit per dollar basis. To be fair though, most other countries also discriminate against foreign nationals one way or the other.

[TRZbebop675]

She graduated from Wharton: the fact that she got denied from Merrill doesn't mean much because there are probably 5 other firms falling over each other to hire her.