Help! How many positions within each bank should you be applying to?
I'm sure I'm not the only one dealing with this so any input is appreciated. The career center lets us send applications but there are so many postings. For example, for UBS
CREDIT RISK CONTROL SUMMER INTERN
MARKET RISK CONTROL SUMMER INTERN
FIXED INCOME, FOREIGN EXCHANGE/CASH COLLATERAL
INVESTMENT BANKING SUMMER ANALYST POSITION
MUNICIPAL SECURITIES/PUBLIC FINANCE SUMMER
EQUITIES SUMMER INTERN PROGRAM
QUANTITATIVE RISK SUMMER INTERN
FIXED INCOME RESEARCH SUMMER INTERNSHIP PROGRAM
HIGH YIELD AND LOAN CAPITAL MARKETS SUMMER
DEBT CAPITAL MARKETS SUMMER INTERNSHIP PROGRAM
EQUITY RESEARCH INTERN ...etc
There are a couple more but you get the gist. Most banks have at least 5 positions open. I know my first choice is IBD, then S&T, then Research, then... well, point is I just want a job for the summer. I also know that applying to too many places looks bad. Should I apply to like just IBD & S&T, and sign up for both interviews? Should I apply to the top 4 choices and when interview slots come up, only sign up for my first two? The reason is because I don't want to only apply to IBD & S&T and not get interviews with either (then I should have applied to Investment Management or something, because maybe if I got shafted from IBD & S&T, IM would take me?) So should I just risk applying to my top two choices, or should I apply to like 4 or 5 and select my top 2 interviews? Thanks!!
Apply to anything you feel you are a good fit for. Then become more selective when choosing with whom to interview.
The answer depends on who you ask. Some say that it's better to stick with one position (or maybe another related one) to show more interest in it, especially if the recruiting contact is the same for all positions. (Ideally, you don't want the same people to read the same exact cover letter except "IB" substituted for "S&T.")
Others say it doesn't matter. I know people who applied to both IB and Global Markets or IB and Corporate Banking, for example, and they were able to get both without a problem, no questions asked. Just use your judgment. But don't apply to EVERYTHING. That would not only be questionable but also stupid.
If there is the same position but for different locations (e.g. UBS IB-LA, UBS IB-NY, UBS IB-Chicago), then it's acceptable to apply for all of them, unless they explicitly say you can only do one.
DEF stick to only ONE position...i got deaded for JPM ...beacause they felt i applied to s&t and also ibd...and felt i was unsure of what i wanted to do...i knew ppl MUCH less qualified who got interviews / superdays with them... so yea
how do u kno that was the reason?
be careful. applying to similar positions - ie different S+T products is one thing - applying to IB and ER is a problem, similarly IB and S+T. They will think a) u dont know what u want, b) the assumption is always made that u want the other group. why would u be interested in IB and S+T - you wouldnt. This was a disaster for me with one bank, i got superdays for 2 totally different divs and accepted both (mistake #1: applying to both, mistake #2: accepting both), got knocked by the first becuz i applied to the second, and the div i hadnt superdayed with yet called to reject me from the other division...so yes, this can cause a headache and probably isnt worth it.
Number of Positions to Apply to per Bank (Originally Posted: 12/18/2011)
Hi all,
I am sure this has been asked before, but I cannot find any good results after searching.
How many positions is it okay to apply to per bank(specifically bulge bracket banks)? Do any banks limit the number of positions you can apply to? Do any banks look down upon applying to very different positions (Such as S & T and Investment Banking)?
Do the answers to any of these questions change if I am applying through OCR vs the company website?
Thanks
As many as you want. Just make sure you can justify it if HR or others ask during interviews. Figure out how to answer/ evade the "what do you really want to do" type question.
It depends on the bank and this should be clear in the OCR process or online application. For example, I know Citi lets you apply to as many divisions/positions as you want and interview for all of them. If it looks like you're going to get more than one offer then they'll ask you to make a decision on which area you want to be in and they'll only give you the single offer for that area. Other banks, like JPM I'm pretty sure, only want you to apply to one area from the beginning. I can't speak to what other banks do, but again, you can probably find out (i.e. they'll tell you in the info session/brochure, or they'll only let you select one option online).
Bear in mind that HR can see all the positions you apply to since they usually share responsibilities in recruiting, so you want to have a clear focus. I would personally only apply to 2 or 3 at the most. Keep in mind that the areas you genuinely have interest in are probably similar to one another, and the areas that you would not like are much different. For me, I could never do IBD, but S&T really appeals to me. It takes two completely different people to do either job IMO. On the other hand, I get wanting to give yourself the best chance and playing the numbers game, but ultimately I think you'll be most successful for the positions you have the most interest in.
If you apply to a few areas you're definitely going to want to come up with an answer to why you want one division over another. Whether you're asked about it or not, you need to be prepared for it.
Thanks for your answer.
Can anyone tell me anything specifically about UBS?
Bump. Can someone also let me know if it is okay to apply for the same position but in different locations? Like applying to both the new york and both san francisco investment banking postings at UBS?
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