Hi all,
I didn't get the IB summer internship that I was hoping for, and so I'm looking to try my luck again for full time recruiting which starts up at the end of August/September.
My problem the first time around for junior SA recruiting is that I didn't network at all. Literally not a single phone call. So I'm start from scratch here.
Is there any advice you'd give me? I'm currently on the west coast, and I am working a 9-5 in an FLDP right now so it might be slightly more difficult to set up calls/meetings.
I guess my main question is this - will I be screwed since I didn't reach out last year and I'm starting from nothing in terms of reaching out to people? And am I starting too late?
(eta - I go to a target school, but none of the BBs are recruiting for full-time here. Just the boutiques like Evercore/Moelis and the likes, as well as some of the MMs. Do the BBs do full-time recruiting still? If so, how can I approach that since there isn't an on-campus resume drop?)
Thanks
If you use the search bar, you will have your fill of readings for days. With that, it's never too late to network and there are BBs in SF. Lastly, buy the WSO guides if you have the funds. It will help you tremendously and give you insight on everything you don't know.
Awesome, thanks a ton for your response. I definitely have the money and I've been meaning to buy the WSO networking guide. I already have the BIWS and I'm decently versed in the technicals there, but I'm gonna go through the entire thing and learn it like the back of my hand.
As for the BBs in SF, if I reach out to alums in those offices, will they still be able to pass my resume along (assuming I'm not a total asshat and make a good impression) for FT recruiting?
Don't know about west coast FT hiring but BBs in NY and MMs nationwide definitely had enough spots last year that a target school kid with solid networking/interviewing skills + great GPA/resume could definitely land a spot. This year should be better. I'd start reaching out now. If you can find a quiet/private place to chat on the phone with alum and make the time to meet up after work for coffee you'll do fine. Superdays aren't until early-mid august and go through late september and a single banker forwarding your resume to HR is typically good enough to get you a first round phone interview if your resume is strong.
FT PWM Networking/Recruiting (Originally Posted: 05/22/2014)
Here's the deal. I just finished my junior year at a non-target and I'm currently interning as an interest rate risk analyst at a boutique bank. Although I like the work I'm doing, I am not looking to stay on after graduation.
I have always been into investing, but over the past year or so I'v narrowed my career goals down to working in PWM in some capacity (no experience but from research and talking with people its something I can definitely see myself doing) . I know some places like MS have Financial Adviser Associate Programs or similar setups for new advisers. What is the likely-hood of getting into one of there programs at a BB/MM not having interned for them directly and not having specific PWM experience in general?
I have been on a few informational interviews with people in the industry and have done some solid networking, but I know that only gets you so far as not many people are putting their name on the line for a kid they had coffee with for an hour.
Lastly, if I was looking to secure a FT position after graduating in May 2015, what is peak recruiting/interview season for this type of job?
Any personal experiences/advice would definitely be appreciated!
rookie broker programs are extraordinarily tough. I'm considering doing an entire thread about it, but the short answer is if you don't have a network of people (usually family) who has a ton of money nor a team that will financially support you as you build your business, I think it's a bad choice.
to answer your question directly, I know MS/ML/UBS rarely hire 22 year olds into their new FA programs. what I would do if I were you is be in ops for a little while and then get recruited onto a team because of your work ethic.
I interned at a BB PWM as a freshmen (think ML/MS/UBS) and my junior financial advisor did not intern there and was hired FT. He told me he was hired by the BB and then placed into this particular group. So at least for this firm, it's not like a specific PWM group vouches for you and then you got placed there. It was first get hired to their Advisor program, then get placed.
The reason interning in a PWM group is unlikely to lead to a FT job is that the group essentially has to pay you out-of-pocket to take on another person. Therefore, groups are resistant in growing the sizes of their team unless they are raking in large production amounts (original client money+ investment gains).
In terms of personnel, most people in PWM who are junior are young and tend to be from non-targets. I'm not sure about timing for FT positions, but earlier networking and speaking to HR/people in PWM will make you more informed on the timeline for specific BB/MM firms and they may be able to help you out.
thanks guys and @"thebrofessor" great PWM post earlier
Networking - FT IB (Originally Posted: 02/13/2018)
Hey guys,
I was unable to get an IB stint for summer but I do have BB MO for summer. my question is how do I go about networking for FT IB. what should my strategy be? Is it impossible to get FT IB without having SA stint in IB??
Any help would be appreciated.
Thank you.
Hi Future.Monkey, just trying to help:
No promises, but maybe one of our professional members will share their wisdom: Joshua-Petrawski Ogelthorpe Panthers92
Fingers crossed that one of those helps you.
MBB Networking for FT After Summer Interviews (Originally Posted: 04/30/2013)
I had interviews with MBB and Accenture for summer internships this past winter and while they went well and I made some good connections, recruiting was very competitive at my school this time around (mostly just needed to work on my speed of mental math in case portion) and didn't end up receiving an offer.
I was looking for some advice on what I should be doing this summer in order to improve my chances of getting an interview/offer for FT in the fall. Would it be appropriate to continue to reach out to people at the various firms and ask to go for coffee etc.? Or ask for mock case interviews? Would you ever ask your interviewers to meet for coffee (ended up keeping in contact with 2 of them and they helped me out with some other internships)?
Thanks!
It might help a little bit to tell us about yourself and your situation. Previous internship experience? Which school? etc
Undergraduate at Canadian school where MBB do on-campus recruiting; interviewed with Toronto offices of all firms for summer internships. I networked pretty heavily prior to summer recruiting started so have some contacts at the respective offices
I can speak to the US process. If you made final rounds, put forth a good effort, and will be in Toronto over the summer, they'll get in touch with you over the summer for invite-only events that they hold for "high potentials" at the offices. Still stay in touch with the recruiters, but there isn't a need to go overboard. Assuming that Canadian offices under hire for the summer relative to their ultimate full time needs, you're likely to get interviews in the fall.
Right on the money. If you didn't make final rounds, I'd reach out to them near the end of your internship to your alumni at the firm to reconnect. You can let them know what internship you took, what your job was like, and most importantly that you're still interested in the firm for FT.
Thank you, much appreciated!
Networking Pre-FT Recruiting (Originally Posted: 07/16/2013)
I'm a rising senior at the University of Chicago getting ready for full-time recruiting. I'm interested in sales, prime brokerage, and other departments along those lines. I was looking to start networking with alumni at the end of July as well as other connections I've made. In particular, I wanted to reach out to my first round Goldman Sachs Securities (Sales) summer analyst interviewer; we got along great and kept in touch about my progress until superday (didn't get offer after Superday). Would there be any point in reaching out to him as he gave me a lot of support (talking to my superday interviewers about me for example).
Also, is it common for analysts to reach out to students before full-time recruiting? I just had someone reach out to me from a good consulting firm to talk, and I've had no prior interaction from the person.
Thanks!
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