2024 FT Recruiting Outlook - Incoming CS SA
I'm not going to lie, I'm pretty fucking pissed about the prospect of having to re-recruit after grinding my ass off to get a spot on the street in the first place. Even worse is the fact that market conditions won't seem to be improving any time soon, which will certainly have a negative impact on the number of FT spots available. It looks like I'll be in one of CS's top two groups (FSG or M&A), but at this point I don't know if it makes a difference.
I get that we CS SAs will have a legitimate reason to lateral to a different group, but how likely is it to be able to find a FT spot a top BB/EB or lateral to a MF PE analyst program considering a likely market downturn? How many spots are generally available across the street, and if I were to pull hard for a specific group at CS, which would be best if I plan on lateralling? For reference, at a target (mid-tier Ivy) with a 3.8+ GPA.
Why would you need to re-recruit? Are you assuming you won't get a FT offer by the end of your SA internship? Or do you just want to go to a "better" bank? Because if it's the latter, then it doesn't make much sense.
It doesn’t make sense to consider leaving a bank that is about to undergo major restructuring, specifically in the investment banking department?
To OP: we are going to see capital markets return, eventually. I sent wouldn’t operate under the assumption that ‘24 will be as brutal as it is right now. Banks always need juniors, many of them just over hired last year coupled with frozen capital markets this year, which makes for a not so great recruiting market. You will be fine.
restructuring doesn't equal going under. Look at UBS/DB 5-6 years, they were in very similar situation. I'm just saying, if OP can recruit to a GS type bank, then go for it, but I wouldn't take a MM firm over CS even in the current situation.
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