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Hey sophomore here from a non-target transferring to a semi-target this fall. I've been snooping around the forums for a bit now but just have some quick questions-

SA/summer positions are recruited oct-dec? does it vary for consulting vs ibd, big4?

FT positions are recruited alittle later dec-march? When you are recruited for FT are you expected to start as soon as you graduate?

Since i'll be transferring from a complete non-target plus the terrible economy i don't really expect to land any SA positions this fall
. As a backup i'll be able to grab an accounting internship if i cant find anything.

Should i try to land a SA for my senior year summer, then stay an extra semester for the fall of 2011 and try to get a FT job then? i'm assuming the market will be good by then and i should be able to land a decent internship summer of 2011.

Comments (6)

  • ejk702's picture

    It really depends on your school's OCR schedule, but usually:

    - FT recruitment happens in the fall.
    - SA recruitment happens during early spring semester (January-March).

    And again, FT starting dates vary by firm, but I know quite a number of people who are starting in July.

    And re: your final question about staying an extra semester, here's one piece of advice: Don't try to time the market. No one knows where exactly the market is going to be, and your guess is just as good as mine. In other words, don't stay an extra semester - it's a waste of time. Just focus on sharpening your skills, strengthening your GPA (at least 3.5), and landing summer positions.

  • ejk702's picture

    You should start networking. Now. Since you're a sophomore, you've got plenty of time to network. By the time SA recruitment season rolls around, you should be in good shape if you built solid relationships.

  • excelsior's picture

    thanks for the very insightful and quick responses! I'll try my best to network as much as possible. I know you are right about the market thing but just trying to plan ahead-Let's say theoretically (senior year) i don't have any luck looking for a FT in the fall.

    do i a) settle for corp fin or whatever..
    b) try to grab a SA position? If i don't get hired it would then be ok to just pick up a few classes while going into fall recruitment right?

    also call me a noob what does OCR stand for exactly

    edit: i am also local to nyc so it might be possible for me- do banks ever offer part-time positions or internships for mid semester?

  • ejk702's picture

    Where do you see yourself in the long term? Are you looking at IB? S&T? If you haven't decided yet, you still have time.

    But the broader and more important question, however, is: Do you want to be in finance for the long run? And if the answer is yes, why? If you can't answer these questions in a heartbeat (or you hesitate), then you REALLY need to think about why you want to do finance. (Is it for the money alone? Because if it is, you'll be miserable, especially when the market is in pain right now, and bonuses are down to almost nothing.)

    Although no one knows where the market will be five years from now (or even tomorrow), I am quite sure that the financial industry and Wall Street will never be the same again. And investment banking will no longer be what we have known it to be. With that in mind, is finance really where you want to be? If you start seriously thinking about this now as a sophomore, you'll save yourself a lot of grief later on in life (and even senior year) when you're trying to decide in what direction you want to go.

    That said, I would start exploring different types of jobs within finance (not just IB, trading, etc.) if you do decide that finance is where you want to go. Also, take some corporate finance and accounting courses. If senior year you don't land a FT position, your best bet would probably be to do something finance-related. (corporate finance or "industry," management consulting, etc.)

    And honestly, I think you're worrying too much. For now, just focus on getting a good sophomore summer internship (doesn't necessarily have to be finance-related), networking with people in the industry, and figuring out if finance is really for you.

  • ejk702's picture

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