Top Tier Senior Quotes

by blitzing students with information and making the application process as simple as dropping a résumé into a box, by following up relentlessly and promising to inform applicants about job offers in the fall of their senior year—months before firms in most other industries—Wall Street banks had made themselves the obvious destinations for students at top-tier colleges who are confused about their careers, don’t want to lock themselves in to a narrow preprofessional track by going to law or medical school, and are looking to put off the big decisions for two years while they figure things out. Banks, in other words, have become extremely skilled at appealing to the anxieties of overachieving young people and inserting themselves as the solution to those worries. And the irony is that although we think of Wall Street as a risk-loving business, the recruiting process often appeals most to the terrified and insecure.

One of the main arguments made by scholars and ‘China watchers’ is that SOEs are under strict control of the Chinese Communist Party and the central government because the top tier of officials of the central SOEs are appointed by the CCP’s Organisation Department jointly with the State Asset Supervision and Administration Commission (Pearson 2007; Chan 2009). Even though it is not a requirement, most senior managers of SOEs are members of the CCP, and ‘many of them circulate back into government positions after a stint as executives’ (Walder 2011: 31). Yet, the appointment of managers for a particular SOE tends to be made from among people who have been around the industry for some time and know the ins and outs of the operation and politics involved. Consequently, regardless of whether they are professional politicians or technocrats, these executives by and large manage the operation of the SOEs primarily according to commercial principles, while implicitly following the party’s guidelines and responding to the party’s specific calls when needed.