Am I screwed if I don't have an offer for SA 2019?
I don't have an SA offer for summer 2019 and it is now almost September. Am I totally screwed? Are all the banks full?
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No you are not. Quite a few banks are still recruiting. Keep your head up and be steadfast in your networking.
Do you know which banks? Seems like most BBs are wrapping up in early September
Citi, a few mid-tier,...
I’m in the same boat man, I feel like all my effort networking went to waste. Does anyone know which banks are still accepting apps? :/
I’m in the same boat man, I feel like all my effort networking went to waste. Does anyone know which banks are still accepting apps? :/
Take the day to apply everywhere - Networking for the non-New York offices of larger banks is a strategy. Forget the EBs at this point.
Depends on your background, if you're in a top target you'll most likely be fine. Banks that are still recruiting, as far as I know, Citi, BAML, Jeffries, CVP, Deutsche, and Guggenheim. GS/MS/CS/Barclays are basically done, but have a few random spots for top target kids. All the EBs but CVP and Gugg.
GS just sent a round of IBD Hirevues to non-target candidates last night at 9pm. They are not done but they must be almost full. I'm sure it will be tough to walk out of those superdays with an offer.
Guggenheim is definitely done from what I know, but I could be wrong. What about UBS?
GS will also send another round of IBD hirevues next week, I think for targets, but filled a big chunk of their class already. Gugg is not done - I got an email from an MD just last week asking me to apply. I have no idea about UBS
MS isn't done yet, my friends at semi-targets are still actively interviewing with them
Gugg told me they finished early june.
Was emailed a couple of weeks ago by an MD asking to apply - probably close to full but def not done
Hey man, do you know what stage Jefferies and Centerview are at? I emailed a couple ppl but haven't heard back and was debating whether to reach out again
not sure about Jeffries, CVP has opened up resume drops at target schools
This late into recruiting season, it's doubtful that you will land at a top BB/EB. Very few are still recruiting. That being said, there are still a plethora of lesser-known boutiques that haven't even started that will still give you a great experience as an analyst. Plus, there is always full-time recruiting.
which lesser known boutiques ?
Even middle market firms like Piper are basically wrapping up from what I've heard. Other top MMs like Harris Williams, Raymond James, Jefferies are all recruiting right now full-force.
What are your thoughts on doing a top summer S&T internship with the intention of recruiting for IB FT? Is it unusual to get into a financing group for FT from S&T?
I wanted to do the same route but spoke to couple other ppl about it and basically they all said something along the lines that "it's better to do an IB internship at any place (where you can get relevant experience ofc) than doing S&T bc that might just lead you on to a different track, which btw is not a bad track at all IMO
Are top BB firms almost finished recruiting in other divisions such as er or am?
Yes er and am are also in full-swing if not almost finished
No you aren't screwed. This site is filled with complete misinformation from kids who once they reach an actual intense job will realize two certainties: 1) the world isn't zero-sum 2) if you have sharp elbows and try to harm others to reach the top, intense team players will recognize your behavior and ensure you do not get employed at firms with healthy culture and good results. Finance is small and people have long memories.
Several bulge brackets are still recruiting, several boutique banks are, some also are finished (mainly smaller offices). Additionally, if you don't get a SA at a BB bank you can try for a regional bank and recruit for a full time position anywhere you want (read a real offer, not a internship). If that doesn't work you could try to possibly recruit for consulting and you might even find you enjoy it better, or possibly you could source this summer at a MM PE shop and they might even hire you. You could even be in a different industry, go to business school, and recruit for an associate position. The bottom line is there are just so many ways to skin the cat and you aren't screwed if you don't have a summer internship. Life is a marathon not a sprint and if your goal is to end up at a large PE shop or large bank there are so many ways to get there assuming a 50 year career. I'm assuming many of your friends have offers and that is great, but also here's an unfortunate secret: the job recruiting process never ends. It is a street fight from now until you stop working, so embrace it. Also, for the kids that think a SA position will set them for life, they are so wrong. The amount of friends I have watched have a quarter life crisis at 25-29 because they realize they don't know what to do after banking or PE is over is unbelievable. Envision your ideal job 10-15 years down the line and try to acquire experience for that job. In the scheme of things, your SA position is just not that big of a deal. Keep your head up, define your own values and the job YOU want, and work hard to pursue them and you will be fine.
No, plenty of opportunities in September and into October
Do you happen to know which banks specifically? Outside of the ones already mentioned.
I know this is not particularly helpful, but I'm so, so glad I never have to recruit for IB ever again, and hopefully never again in general outside of ad-hoc opps through a long-term network
Look at european and japanese banks, I'm sure they are all still recruiting
If you're really desperate, Canadian banks are just starting to open applications
hard for americans studying in the US to get into IB in canada tho
Look for Banks like RBC, BMO and TD: all Canadians banks
Nah my BB and plenty of others are still recruiting. Probably only a few of the EBs are full as of now; we did give some offers earlier this year but definitely didn't fill the class (as is the case across the board I believe)
Is JPMORGAN done? I feel like they are always having events.
Cowen is still recruiting. A lot of other MMs are too
what other MMs?
Jefferies / RJ
I didnt get my summer internship offer until the April before the summer. This was a few years ago, but I mean you are far from fucked if you dont have an offer in August. You almost have a full year to find something decent for the summer.
You aren't screwed at all. I'd definitely recommend hustling and not letting yourself get discouraged by all of the people you may see getting offers. BBs are trying to wrap up quickly, but they hire on a rolling basis, with multiple rounds of interviews. Just because one round is done, doesn't mean another isn't coming up. And if we've learned anything from prior bull markets (hint: we haven't), investment banks will again over-hire this year as the market is at an all-time high.
) has quite a few BB bankers on it that can give you direct advice for their specific groups around hiring timelines, how to recruit at their bank, etc. Wasn't around when I was an undergrad gunning for my SA offer (which I didn't get until December, btw), but hopefully it can help someone here out.
Canadian banks, BNP, SocGen, Nomura, MMs, are your best bets at this point.
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