Hey Target Students: Any FT OCR openings left??
This question is directed towards students at target schools (IB recruiting with OCR). Couple friends at BBs and several large international banks (SocGen, BTMU, RBC, BMO) told me they had their team members (Associate and up) still at this time period interview kids for Class of 2014 Analyst spots. I found it odd b/c I thought FT recruiting is fully wrapped up in the Fall? Yet my friends told me they were interviewing college seniors for these positions, not lateral and off-cycle.
Has anyone seen this happen? I'm a college senior as well but at a non-target. Do you think there's still a chance to network into these roles? Friends can't help because they're first years and feel extremely uncomfortable
I've heard that sometimes they will add a few analysts on an as needed basis. The only real way to get into these would to have networked well within the bank so when a spot opens up, you'll be on the shortlist of people they interview.
"they're first years and feel extremely uncomfortable"
That line is BS imo. I've helped people during my first year. Tell them to quit being bitches or to introduce you to someone useful.
I still think that after six months, as a 22 year old, you can probably get a resume in front of someone. For an experienced hire, you might be able to tell someone a person is worth an interview. All of this is going to be contingent on how well they know you and how certain they are that you're a competent guy. Just because you're friends and they like you as a person doesn't necessarily mean they can vouch for you as an employee.
I never found it a challenge to talk to the director on my desk that did a lot of interviewing and ask him for his opinion on a friend's resume. This usually worked: "Hi director, one of my buddies is trying to get a job here. Here's his resume. Does he have a shot?"
I guess the feasibility of this approach depends on how good of a relationship you have with your team....and banking might be different than trading.
I know some shops were giving offers up until June last year... opps
I go to a target and no BB is still interviewing at my school. In fact most FT BB interviewing happened before the fall semester via accelerated processes. The fall was mostly dominated by the EBs and Consulting firms.
They're good friends that know I'm qualified and all, but they're just 1st years so I totally understand. They wouldn't have much say any ways. Plus, I'm being told that some of these firms really, really want to maintain campus relationships and so they're going through OCR pretty heavily vs. referrals. Any suggestions on how I might be able to get past the bureaucracy? I think they've been mostly interviewing Wharton, Cornell, NYU, UVA and some others- can't remember
Find an MD to talk to. At some firms (my old one, for instance) MDs can bypass most of HR and get you into a final round interview for analyst recruiting with a simple reference form.
But IIRC, the target school system has weakened a great deal since I started on the street. My experience has also been that being from a target also doesn't get you as much as you'd think in the recruiting process. I don't think the problem is that you're from the wrong school. It might be your GPA, it might be your networking, it might be wall street's desire to hire in 2014.
I don't necessarily disagree, but for instance at one bank, two analyst friends and a very high up MD/Co-Head told me that less target school students took their offers than in the past, thus they want to try to bring in candidates that the firm has campus relationships with (recruiting "policy") as opp. to outside candidates.
I understand what you mean by maybe the problem is me and my candidate profile, but in this case I was assured that's not the case (and as skeptical of a person I am, this time I really believe the ppl I'm speaking with, at least with one particular bank I'm talking about above - otherwise not sure with others)
I could tell you that this rule is silly and that the MD is being foolish supporting it- why not hire the best candidate rather than fill a given quota? But I think you already knew that.
So find another MD and another bank. Or if you haven't already looked at research or S&T which I have always claimed is more meritocratic about hiring and offers better work-life balance, that's another area to go to. I know what it's like recruiting from a non-target (undergrad- several years ago); it's tough, but you'll get there.
You need to keep your options open, and when one door slams in your face, God opens another one.
If this is what you really want, and you're as smart and competent as the people doing these jobs, you'll get here eventually. And your first job is not your last job. But be careful what you wish for, too.
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