NEW YORK (TheStreet) -- Hiring is finally starting to pick up on Wall Street, Scott Rostan, CEO of Training The Street, told TheStreet's Joe Deaux.
Hiring and new jobs seemed practically impossible to find following the financial crisis that rocked Wall Street five years ago. But now hiring has gone from negative to flat but positive, he added. Specifically, Rostan said institutional banks generally go through its internship pool for the "Phase I recruiting" process, where as many as 66% to 75% of the interns will be offered a job upon completion.
However, he did admit that it's a little bit different than the pre-financial meltdown days. For starters, qualified recruits generally only receive a few job offers rather than up to half a dozen they received in the past.
Also, salaries and bonuses are not racing higher as they did in previous years, Rostan said.
While hiring has picked up, and despite lower, more reasonable compensation, banks are still competing for new hires. Although the hiring process isn't at its peak, it's definitely more optimistic that in the past couple of years, he concluded.
-- Written by Bret Kenwell in Petoskey, Mich.