Does applying online work?

I go to a non-target, but we have some nice firms that come by to recruit (Amazon, Lockheed Martin, Raymond James, Citi, J.P. Morgan). They were recruiting for positions like procurement, operations, accounts payable, etc. and that wasn't for me. So I told the recruiters that I was interested in other areas of the business such as financial planning and investment banking. They told me to apply online but I never got an interview. I also applied for similar internships at 400+ firms that don't recruit at my school.

I'll admit, I did zero networking. The only thing I had going for me was a solid GPA (3.5+) and full-time work experience working with pricing models.

 

Hi, it seems like those firms primarily recruit for back office jobs OCR so you need to network hard to get yourself considered for IB roles, especially since you are a non-target. Pricing models are not directly relatable to IB so I would suggest getting some IB experience at a boutique or corporate finance jobs. Applying online works but only with the requisite amount of networking and experience.

For the lead! Sipag, tiyaga, at lakas ng loob!
 

I did tons of networking and also applied everywhere online. I'd say in most cases networking trumps applying online. However, ironically the best offer I got so far came from an online app I submitted and quickly forgot about until one day the recruiter called me.

 
Best Response

I got my first job by applying online and had numerous ib interviews for my first job through no networking and my resume was not great at all (3.1 GPA, no IB internships). Now a little later I am applying for lateral opportunities and getting tons of traction by just applying online, have had interviews at places like Uber and Google.

 

Any reaume advice? Im in the same boat (Non-Target, 3.3 GPA)

Interned from april 2015 to december 2015 and was hired as an analyst Jan 2016 (small MM).

My only Edge is that i am a Military Veteran.

No financial modeling skills, I deal with sector coverage (Equity and Debt Capital Markets)

I feel I have what it takes to atleast get a call back, had no luck so far.

 

From a non-target... I had a number of MM/EB/BB/small boutique interviews - none of which came from online submissions save for a single small boutique. I have numerous non-target friends who got maybe one interview from an online resume drop but any other interviews came from networking. I spoke to 100+ people in IB/related fields before I accepted an offer, and not a single person told me to submit online applications. If they said anything about applications, it was "don't waste your time" before they suggested reaching out to more people.

So, get to work networking... I am not sure where you sit in terms graduation/school year, but networking in a sincere and respectful way seems to be the ticket for many non-target students like us.

So good luck and

 

Develop the relationship more before you push for a job. Isometimea it may take 6 months- their reputation is on the line if you turn out to be a scrub

I'm on the pursuit of happiness and I know everything that shine ain't always gonna be gold. I'll be fine once I get it
 

If you absolutely can't get your resume through to an employee in whatever division you're applying to, you should still apply online. From what I've read on this forum, even firms like GS take a glance at resumes sent online. Either way, you've got nothing to lose. And if you've only reached out to "a few" alums, perhaps you could get in touch with a few more..

 
Hfhopeful:
Great thanks for the feedback! By a "few" alums I really meant upwards of 80 haha. I appreciate the input though for sure.

How many out of the 80 are quality contacts? In my case, I've probably sent upwards of 200 emails, talked with close to 40 people, and think that I might have at most ten high quality contacts. But you know, those ten contacts might turn into five interviews, which is plenty in my opinion.

 
rufiolove:
might as well submit, it doesn't hurt anything and the process doesn't take very long... if you could have networked your chances would have improved... worst case try to cold call an MD and give your pitch, they'll respect it even if it doesn't produce results, plus it's good practice... p.s. is this for SA or FT?

You don't think an MD would be annoyed if you called them about an application? Where would you even get their number?

 

the way i look at it, if you didn't do any previous networking and you don't have any contacts at the bank, then calling someone isn't going to put you in any worse of a position than you are already in... true the MD may not be super receptive to getting a call from someone looking to break in, or it could be that he/she is impressed by their pitch and reasons for wanting to work there... crazy things happen all the time in this industry and in the world in general when you are willing to put yourself out there... absolute worst case, the MD says fuck off or laughs... are you any worse off... no... and in fact you learned something in the process...

i cold called/cold emailed a decent amount of MMs/Boutiques and had quite a bit of success learning about groups and got the chance to develop my networking/pitching skill set

just my 2 cents...

 

Definitely apply online, while it may not be the best use of your time, it will definitely lead to interviews. I am a pretty strong on paper candidate from a non-target and got the following just from online applications: - 2 BB's IBD - 2 Japanese banks IBD - 1 well known MM bank IBD/S&T - MM LevFin and Sponsors - Boutique M&A bank with solid deal flow - Multiple CorpDev interviews - ER at prop trading firm

People like to say it's a crapshoot, but if you have a high GPA (3.8+), decent intern experience (at least one relatable position), and leadership positions, you should definitely get a few interviews. That said, I probably applied to 30-40 places so my interview rate is actually pretty low.

 

No No No. I just got an offer from a BB via online application. Did not know anyone at the bank, no networking, no nothing! But I will say that I must have applied for hundreds of jobs before getting this call. Also using one resume to apply for 10 jobs doesnt work. Apply to jobs that seem a good fit for your experience, read the job description very carefully, modify your resume to highlight those aspects of you background that are MOST in tune with the job description.

 

Online Apps are definitely not the most effective means of applying to IB (not school drop boxes, but online bank web site generic drop boxes). That said, the apps are looked at and people do get interviews from them. You definitely won't get as much attention on your resume, but there is nothing stopping you from dropping at many many banks/MM shops/boutiques (those that have them as the sole means of contacting bankers about opps). It generally doesn't take an enormous amount of time to apply online, so if you lack contacts and your school is not a target, take a chance. Will it pay off - probably not terribly often - but if you get even a few or one interview after dropping in several banks, it was worth it.

If you drop in an online drop box and then have someone submit your resume - a new banker contact you've made, for example - no, it will not hurt your chances at all. It doesn't matter if you dropped in the box or not, having a banker pass your resume through the chain is absolutely beneficial to your candidacy.

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Apply online, but assume you won't get a call back for any of them. I have found that they aren't "black holes" per se, but do have a very low response rate, especially for reputable firms.

 

In most cases it is, but it's certainly not always the case.When I was applying I sent my resume online to a larger firm I had no real contacts with and was invited to the superday, but accepted a different offer. I would imagine it is more common for offcycle hires but I wouldn't anticipate to hear back that way.

 

Ehh I've had success through online resume drops via their career site as well as services like OneWire, that being said I'm pretty judicious about applying directly through the career sites since it's a huge hassle as opposed to finding someone to cold/warm email.

Conversely, resume drops through my school's career services site yield great results, even if the firm is not doing OCR.

General break-down to give you an idea, is that I got my first internship through alumni cold emails, second internship through applying directly on a firm's website (well-known MM bank), and FT offer at another firm through applying on sites like OneWire and Doostang.

 

Not a black hole at all, percentage wise, it may not be that great, but if your resume shows your a good fit for the job, you could very well get a call back. Example, I just submitted a resume to a PE firm's posting that I knew I was a good fit for, all the job responsibilities are nearly identical with what I do now. My resume showed this and I actually got a call back the next day. HR now has key phrases they need to hit when scanning resumes. If you are a clear match, then you should apply for it. Before I used to just throw my resume everywhere, but was lucky to get a 1% hit. Now, I target my searches tailored to my background. My success rate is about 10%. Best way to think about it is like this, there are a thousand other people applying to that position, but does your resume show you are one of the most qualified?

Array
 

Out of maybe 30 online applications I filled out this year I received an interview for one of them, which I didn't even end up going to.

On the other hand, I initially applied online for the internship I currently have, but cold e-mailed a Sr. Analyst who worked in my town about 2 weeks later and ended up getting the position a couple weeks after that.

Disclaimer; I was a freshman at the time of this experience, so the majority of banks most likely dinged me just for that.

 

I applied online to Goldman Sachs from a non-target school and received a phone call about a first round interview about a month later. I was shocked.

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

I actually heard back from about half of my online applications. One of them eventually led to a FT offer at a BB.

I've heard people have had success by being proactive and following up with phone calls to HR.

 

captk, how did you get a first round at Goldman with a 3.35 gpa from a non target? Can you give me some insight into what experiences you had on your resume that caught their attention.

 
sammy101:

captk, how did you get a first round at Goldman with a 3.35 gpa from a non target? Can you give me some insight into what experiences you had on your resume that caught their attention.

I founded, grew, and sold my own company during college (legitimately, not like all these kids who wash laundry for $5/load and call it a business).

Other than that, I had an IB internship at a solid MM bank.

I imagine it was the entrepreneurial part that captured their attention though.

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

His cover letter either started with:



"Dear Madam, My father, Lloyd Blankfein..."

or

"Dear Madam, I am writing to apply for the operations department..."

 

A friend of mine applied online, cold with no contacts, to Bear Stearns.  He got an early interview as he was studying abroad, and bagged an offer (NYC).  He also got interviews with another firm (I think Citi) straight from the website.  He goes to a semi-target, with a very strong resume.

From what I've seen, there is much more of a chance if you apply early (Novemberish) to the study abroad interview process - note to sophomores right now, if you are studying abroad next year make sure you take advantage of this.  Apply to every single bank.

 

Hey, just curious which are the Canadian targets?

I wish i could shove my dick so far up your dick that it creates a gaping vagina, because that's who you are. Just tell them that you're a ginormous douche-canoe with a gaping vagina. They'll understand.
 

In my personal experience (as an applicant), they're useless.

My assumption is that they exist only to give HR a legitimate pathway to recruit non-traditional applicants with exceptional connections

 

mmm I got my SA through an online application, but it is in Europe.

Valor is of no service, chance rules all, and the bravest often fall by the hands of cowards. - Tacitus Dr. Nick Riviera: Hey, don't worry. You don't have to make up stories here. Save that for court!
 

I got to a final round FT with DB purely through an online (I didn't SA). I filled it out and then emailed (and left voicemail) the HR lady in charge of recruiting for that spot. She sent me a a brief "blowing me off" email and then a month later I get an email for a final round and they are flying me to NYC.

Also, sometimes if you've networked in they will ask you to fill out an application "just so they have it on file" (I assume for reporting purposes).

 

if there is a campus resume drop and it is not open to you, you have an even longer shot...

better network with the company and try to get to know someone well there who could go to bat for you.

 

Applying online to a company website is worthless, however target schools with career web portals are the shit, get on campus interviews that way a good amount of the time (off campus too but you get the idea). Sounds like your school has something like this but you cannot apply because of grade restriction, when HR said they would consider sophomores did they respond to a question you asked? If so, then you should ask the school to lift the restriction allowing you to apply online, or get your resume submitted to HR outside the portal (via email) but just submitting on their general website is NOT the way to go, it will get you no where. Good luck man!

 

General consensus on this site is that it's basically a lottery unless you have a specific person who will tell HR to pull your application out and put it to the top of the pile. If you have said person, why not just go through them.

Not that it means anything but in the UK I went through online applications alone with no experience and landed an internship at a Tier 1 BB, so if all else fails apply to London :)

I would also note that ER in particular is much harder to land internships because it's more of a 1-in-1-out system than IBD which is very burn-and-churn. For ER I would probably say expect the worst with online applications, network your ass off and try and get a direct referral.

You can never really tell, can you. You are always better off being recruited, but you never know until you try. People will tell you that there have been cases of people who applied online being called for interviews.

 

Depends completely. I have applied online this year for full time analyst positions, and have interviewed at nearly every BB. This is the way it works in the UK though... Having contacts definitely helps, but its not vital ...and was not in my case. Good luck!

 

I know several people from a non-target that received interviews after applying online, and subsequently received internship offers and then full-time offers. They all had near 4.0's and extremely relevant internships though.

 

1st choice was IBD 2nd choice was Strategies (programming background, thought I'd try that for soph summer). Got an interview from Strategies, but I was a bit too...candid, so it turned more into a conversation than anything else. Long story.

 

BoA and Barclays do recruit from their online pools for IBD

Edit: Perella & Lazard both have responded (with rejections). Email from Lazard was generic; rejection from Perella was written by HR who graduated from my college. That was January of 2009 and I was, as Marcus described, "a turd with a little toothpick flag that said '3.9 GPA'," w/ no experience

 

yes, they do get looked at. There are two ways to get an anlyst job at an IB. First is through the regular recruiting schedule (which is very grueling and competive), but throughout the year analyst openings occur - this is the back door approach where a lot of overlooked candidates can get in.

 
IBBI:
what difference does it make? we all have SA offers and have gone through the process.

Your comment is an example of a LSAT logical reasoning problem, specifically a 'find the flaw in the passage's reasoning' a) everything is wrong with it, the comment is bullshit b) the comment is illogical, presumptuous, and wrong c) the guy is wrong d) the guy is @#$! wrong e) all of the above

I would say E!

 

I agree with IBBI, what difference does it make? Students who have gotten positions through online apps are probably more knowledgable about the process than a seasoned banker who may/not have gotten the job through the same process. Besides, the answer to the question is clearly yes, the apps may get looked at, though it is a lot less likely for an online app to get hired than campus recruiting.

 

It's a general rule of thumb that you should always apply online, even if you have connects in the firm. Don't expect your online application to land you an interview however, but your contact within the firm can often send your information to HR and if your information is in the HR database it can make their lives easier.

No downside can come from applying online, but you should definitely pursue other avenues and OCR since those are usually what will land you interviews.

 

From my experiences, you can be thrown out (or not even considered) for the position unless you fill out the online application before the deadline even though most people get the job through OCR or a personal connection, not via online submission. They suck, but you just have to do them - and do them correctly.

 

I thought they were a total waste of time, but I applied almost everywhere online anyway.

Then Goldman called me one day out of the blue for an interview - from the online resume drop. Now I tell everyone to apply everywhere online, it can't hurt.

  • Capt K
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

I applied to many BB online. I don't have connections in many of these BB, but I still managed to get interviews from 4 BB. The SA offer that I received is from a BB which I don't have any connections in.

Just try everything. Applying online, sending emails to HR, calling etc. You never know what you'll get. Try and you may get something, don't try and you'll definitely not get anything.

 

If you are applying to a position in EMEA or Asia, def apply online. Recruiting teams in these regions give out a lot of interviews to ppl who have no connection and applied online. Many of my friends did so and landed their SA and FT positions in London and HK eventually.

If you are applying to a US based position, you should still apply online. As pointed out by many other ppl, there is no harm doing so. But it appears to me that the chance of success is much smaller. I know there is success story on this forum, but personally, none of my friends has ever succeeded.

 
Ukon:
If you are applying to a position in EMEA or Asia, def apply online. Recruiting teams in these regions give out a lot of interviews to ppl who have no connection and applied online. Many of my friends did so and landed their SA and FT positions in London and HK eventually.

If you are applying to a US based position, you should still apply online. As pointed out by many other ppl, there is no harm doing so. But it appears to me that the chance of success is much smaller. I know there is success story on this forum, but personally, none of my friends has ever succeeded.

That's because there's no OCR in the UK. All apps come through the online portal.

 

Actually, there is a lot of harm that can be done in filling out these applications ... to your health. Not only do you have to spend like five hours to fill out the application, but it will log you off if you spend too much time filling out a particular section only to have to do it all over again.

I remember once trying to fill out the work experience section in one of these applications on the least user friendly website (I think it was Citi); it took me about an hour to format it properly, and when I clicked to save to go to the next section it logged me off and I had to do it all over again.

 

Umm... brisbane... two out of three of those are "no" for me, and I've heard back from multiple online apps.

Although it isn't abnormal to not hear back until the rejection letter sometime in March.

Also, she probably got the superday by applying through contacts (rather than online).

 

Lehman is just starting the info sessions on my campus.  I wouldn't be that worried.  I emailed them a few days ago about a program I applied to and they said they would be issuing interview invites at the end of january/ early feb.

 

I'm 3.7, Finance, from a top 40 B-school at a state university. I’ve yet to receive anything positive from online applications. It’s been extremely frustrating; however, when an opportunity finally presents itself, it will make it that much sweeter!

I know that online applications traditionally yield little results, but with no other options (no bankers from your school, etc.), it’s all one can seemingly do. I'm opptomistic I'll get a call or email soon (fingers crossed)!

 

Your top choice is Lehman...? NY or HK?



I have a thing against Lehman HK because they snubbed me a few months ago. I really wouldn't care, if I felt that it was justified, but it really wasn't. I had multiple senior staff backing my application, but HR was unresponsive and blew me off several times. They had arranged phone calls with me at specific times and they would simply not call (for no reason) and not contact me to tell me they weren't calling. When I called to ask them what was up, they wouldn't pick up. They were unresponsive to email and only replied when I CC'ed my senior contact (head of the entire division) in the email to HR.

Regardless, Lehman is considered very weak in HK and I'm really not disappointed that they denied me, as I'm now in advanced talks with several firms that I consider much stronger than Lehman.

If you're talking about NY, a position at Lehman should be a lot easier to land than at many of the other BBs. They hire a lot more students (because of the dual-sessions) are are a lot less selective. Lehman NY actually took 9 students from my school last year... hardly any students ended up at any BB besides Lehman.

 

Not all 9 were IBD. Most were IBD... I think around 3 did the START program. 1 did some back office treasury or corporate auditing gig. 1 joined some group that was supposedly "right outside of banking", but he was "more or less a banker". I believe the rest were IBD.


The thing about Lehman is that they don't recruit as heavily from target schools as many of the other banks. Instead, they have a system they call "targetted recruiting" where they target the very top students from non-target schools. If you hold any leadership positions, they will likely target you. I was on the executive committee of a few student clubs... I believe they just Googled pre-professional student clubs on campus and target e-board members. They invited us to a targetted recruiting dinner and presentation and distinguished our apps from the general applicant pool.

In regards to the global head, I'm honestly so sick of Lehman HK's bullshit that I wouldn't even consider asking the guy for a leg up. Given their practices and what they put me through It's definitely not a firm that I'd want to work for. JPM HR answers my emails in a courteous and timely manner and is overall very kind to me.

 

i think ubs, gs, and ms are top tier. then followed by jpm,cs,citi,ml, finally lb is on the bottom of the bb's in asia.

i'm also applying to hk ibd and i've done all my apps through online without connections or networking. have heard back from all those banks except for gs. so it is possible....

 

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