Jean Facon, a recruiter at Christopher Beale and former managing director at JP Morgan, says the evaluation process is a collegial one: 'Typically, a committee of managing directors considers names on a case-by-case basis.'
this process is known as 'cross-ruffing' in apparent reference to a technique used in playing bridge. 'The firm canvasses the opinions of managing directors and partners across the department,' says a former senior insider in the investment banking division of Goldman Sachs.
'References are taken on very specific issues.'He
says these issues revolve not only around the amount of business executed, but how well candidates work in groups as well as their technical proficiency, management and mentoring skills, and commercial instinct.
But if you don't make it twice in a row, your chances are severely depleted. 'If you're rejected a couple of times, perhaps there are issues that won't go away,' says Facon