I am junior and have been rejected from all BB IBD SA positions, and I believe the best thing to do now is to apply for regional boutiques for the summer.
Is it much harder / near impossible to land a BB full time position after a boutique junior year internship? (I go to a semi-target, gpa around 3.5-3.6, decent finance internships and ECs, but did not do any networking)
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BB's barely even recruit at all for full time so yeah it is going to be much harder / near impossible
Not true. Some BBs recruit for FT. But for the most part, they just call SAs for return gigs.
Why didn't you network, kid? Seriously bone-headed move. If you really want to do IBD, then get on the fucking phone and get at least an MM gig for the summer.
What I stated is true. They barely recruit for full time. I think 1 BB had a posting up at Wharton for full time hiring this year.
long post but school help you a lot, bananas are always welcome :)
i go to a semi-target right now and when i went through FT recruiting this recent fall, some/a decent amount of the BBs were still recruiting
in LA/SF- Citi, Moelis (but they took a lateral from Citi LA that did SA through accelerated FT), GS (had a friend that had a BB internship in LA and had a superday at GS LA but no offer), JPM SF, BAML Palo Alto, Wells SF and LA, BAML NY (several ppl i know personally ended up in BAML NY from FT recruiting and did EY/Deloitte/Accounting internships), another kid i know had GS SF (superday but no offer) all had interview slots but most were NOT through OCR and just kids leveraging FT offers. but if you're at a semi-target you'll have a solid amount of MM firms and lower tier BBs w/openings do OCR FT
so it can be done, and there will hopefully always be spots (few though), BUT the kids w/BB/elite boutique internships or top MM internships will most likely get the interviews..unless you somehow network your ass off (i did and was able to get interviews at BBs/elite bouqites so if you're not lazy it CAN be done!)
also, keep in mind, assume there is 1-2 spots open (this is generous assumption) per BB/elitqe boutique bank in LA (im saying LA bcuz ur profile says USC so i know you're in LA) and SF, thats like 35-45 spots TOTAL (just a guess for a #) and there are TONS of kids from LA schools, UCBerkely, Stanford and East Coast schools/targets/Ivies that might want to come back to LA/SF for work/personal reasons
so, hope it still there, but you cant be lazy. and you have to be willing to work at a MM in LA/SF (assuming you are targeting west coast FT) come FT if you cant get a BB. read my post i did earlier, i was in an eerily similar position as you were w/basically no SA interviews and was able to get many (16-17- few BBs, many MMs, 1-2 elite boutiques) FT interviews through networking and doing unpaid internships. it can be done....also consider doing a spring internship-
Imperial Capital, Seimer & Associates, Cappello Capital, McCafferty & Co, Montgomery & Co, Roth Capital Partners, Intrepid Investment Bankers, Salem Partners etc. all do/have done internships in the past/current (some will be paid, some unpaid- you need any experience at this point dont think that you're too good to work for free!)
i'll be happy to look at ur resume if you need or give you interview advice at any of the banks mentioned above (i have interviewed at several of those ones listed above for internships so i can give you info on them if you get an interview)....for now call EACH of those banks and ask if you can be considered for an internship. if they say they are not looking to hire an intern, say you will work for free. you'll be amazed at how willing they'll be to give you an interview once you say FREE :)
dont be lazy. you can do it dude.
*should help you a lot
note- i dnt go to USC but i have friends that go there now still. did you do their investment banking society on campus? i heard it helps a lot w/a mentor, seminars and mock-interviews....just a thought if its not too late to join!
Jesus. Your're not one of those BB or bust kids, are you? It's nearly impossible to go BB from a regional boutique. You should have applied to elites and MMs. You probably screwed yourself on this one, and might be too late.
IB Full-Time Recruiting While Interning At A Lesser Bank (Originally Posted: 07/03/2016)
I'm an intern at a decent boutique but want to recruit full-time for EB or BB, haven't really known how to approach it though. The biggest thing I'm wondering is how do you present yourself during networking so it doesn't look shitty that you're trying to leave your current bank (like is there a certain pitch people usually give)? Also, how much networking is usually needed and what is the process for full-time applications. I go to a target school but couldn't find anything relevant for full-time apps on my school's career site.
I've gotten conflicting advice on whether to actively recruit during my internship (which is halfway through now) or just try to shop a return offer hard in the one or two week window I'll have. And lastly, does anyone know if the interview process differs significantly from SA interviews aside from being a bit more technical.
Thanks and sorry for the barrage of questions
bump
The two best threads on this are: http://www.wallstreetoasis.com/forums/ibd-ft-recruiting-tips http://www.wallstreetoasis.com/forums/my-ft-recruiting-process
Now is the perfect time to start networking. If you wait until after your internship ends, all the remaining FT interview slots will already be filled. Just be discreet about it, take calls during your lunch hour, early morning (before any of the analysts come in) or during the late hours after most senior people have left.
Also, expect interviews to be more than just a "bit more technical." Many FT interviews will ask you hand calculated LBO/merger modelling and more advanced accounting questions.
Boutique bank internship to BB first year analyst? (Originally Posted: 04/27/2017)
Is it possible to go from an internship at a very strong boutique to a first year analyst at a BB?
Or will you be required to intern first at the BB?
BBs typically issue their offers at the end of the junior summer. There are typically few (if any) opportunities later on, but worth reaching out. That being said, if you are at a very strong boutique, why not stay there? You will get a great learning experience and most likely similar exits as long as you are top bucket (obviously depends which boutique you are at). At worst, you can always lateral down the road if you are unhappy.
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