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What is the NYC IBD job market like for immediate hires this time of year? Do all the IBs hire analysts only during their fall recruitment, or is it possible to land something now? I graduated this past December and due to family issues just simply wasn't able to job hunt effectively during my last two semester of undergrads. Since the start of the new year, I have turned it up on networking and feel that I am on to some promising leads. However, I just don't know how to convey to these contacts that I'm looking for something immediate and not something that MAY lead to an interview come fall recruiting season. I know there's always the "I know a guy.." story, which will be encouraging for me to hear, but I just want to get an idea of how farfetched (or not) my hopes are. Any feedback on these two issues will be greatly appreciated.

And yes, I have searched for a topic similar to this and did not come across anything.

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Comments (10)

  • bearbanker's picture

    My best advise would be to continue checking the job boards on your school's web site (If you are still able to access it). Often times if banks have FT hires renege their offers at the last minute (which does happen) they will post for one or two positions, and then it is like a last minute recruiting frenzy to fill the position.

    If you do get a full-time offer with a BB or a MBB you will not start until the summer with the rest of the class probably. Rarely do banks pull FTs on before they finish their training because then they end up training the new hires themselves on the basics.

  • lifesucks's picture

    redandblack86, if I were you I'd look for boutique or MM IB jobs. Some of these firms waited until after the fall to start hiring because they weren't sure about headcount numbers. They will most likely target a summer start date. Some of the BB firms are looking for immediate starts right now. However, they're targeting people with some experience under their belt, because they've underhired/overfired their '08, '09 analyst classes. If you know someone in the group who is willing to push for you then you might be able to land an interview, but chances are slim that you'll be able to land a BB position without any experience.

  • twilightgirl's picture

    piper jaffray is hiring

    and i dont mean that as a joke - they just posted at my school recently (<1 week ago) for 1st year analyst

  • masterg's picture

    You will have very little chance of getting interviews at BB firms after recruiting has already been completed. You need to focus on middle market and boutique banks.

  • SAC's picture

    Yea, I think I saw Piper posting too, but for an Associate role I believe. No harm in checking their website or your career website.

  • geniusisnteasy's picture

    So what's so bad about Piper? Just not a BB? Do they lack deal flow? Or is it just like a little brother thing that people pick on them because (a) they can and (b) that's what they've always done so why mess with what works?

    This isn't directed at any one comment on this board, but I've been reading a lot of posts on other topics where Piper just gets nailed.

  • BigFatPanda's picture

    Is this the same for S&T work? I'm in a similar spot and don't want to waste a lot of time with BBs if there's no chance of getting hired. My school offers virtually no resources to help me out, so all I can do is piggyback off my current contacts for open spots and cold-call firms.

  • redandblack86's picture

    Thanks for all the replies and suggestions. I have limited my search to boutqiues from the beginning, but I just don't know how to get my foot in the door without at least a little help. The only contacts that I have in NYC work for BBs or banks like Greenhill and they initially always seem like they could be my "in". But if I get one more "I passed my resume along to the right people" I'm going to pull my hair out. Whenever they tell me that I feel like they are trying to a)help me like they said they would and b)hint that they no longer wish to hear from me again. Surely I'm not the only one that has dealt with this frustrating move. How should I follow up with this scenario?

  • lifesucks's picture

    If you've gotten the "I've passed your resume along line" most likely the person you were in contact with just emailed your resume over to HR. This could lead to something, but unless HR has a position open that fits your background, you're not going to hear from them. It sucks but you shouldn't really focus on what you can do in this situation, because if nothing is available, nothing is available. Unless you're someone important to a senior officer the firm is not going to create a position for you.

    I'd focus on getting in touch with people to let them know that you are looking and ask them to let you know if something comes up. Don't immediate ask for them to send your resume along because it could end up in the bottomless pit that is the HR resume database without getting looked at if

    More importantly, you should target places that are actually looking to hire people. If you see a posting online, and you know someone at the firm or know of an alum who works there, try to connect with them and express your interest and find out more about the position.

  • Cornelius's picture

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