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Career Resources
Harder than SA recruiting, easier than regular FT recruiting (if regular FT recruiting even exists at that bank).
I believe GS's is now live. The exact words I heard from a recruiter was "The process went live last Friday and expect an email this upcoming week." Not really sure what "went live" means though...some of my friends already received emails for accelerated interviews last Friday...so I might have missed the train on this one.
Also interested.
From what I was told about GS though, they will give offers to every SA that at least does decently well, and it has historically resulted in extremely high conversion rates. That is why they typically wait until the end of the 10 weeks to start AR process.
Money4Life do you mind giving background as to your friends' schools or whether they did superdays with GS before? Are they already interning with 2nd tier BB's?
Not true. I've heard the retention rate for Goldman SA's is 50-55% depending on the summer.
higher, more liek 54% - 59%
accelerated FT recruiting summer 2013 (Originally Posted: 08/10/2013)
Who's doing it and at which banks?
talking to most of the top boutiques (most don't seem to have started interviewing, atleast from what i've heard) and have a first round at a top boutique this week.
citi had accelerated FT IBD superday yesterday
Had friends that attended. Did anyone hear back from the citi superday?
I find it very hard to believe that any firms have already started. Thursday and Friday were the last day for interns and most are given two weeks to a month to decide. Why would banks have accelerated superdays before hearing back from interns? Makes no sense...
Accelerated FT recruiting has 100% started - firms have the incentive to start before internships end because they want to interview kids while they're still in New York
Definitely not true for the majority of shops.
Note that the accelerated process is not structured the same way summer or formal FT recruiting is -- no set first round interview dates, superday dates, etc. Banks will interview various people over the course of the summer/September, and will extend an offer immediately if they really like you or will wait until more people have been interviewed and evaluate comparatively. So, accelerated recruiting may already have started for some ( those who had a strong internal connection or had an impressive resume) and will start later for others.
In short, stop arguing over a timeline that isn't fixed or standardized.
Definitely has started at a few places if not all. Most banks know who/how many interns they are going to hire well in advance of the final day and try to finish FT recruiting as soon as possible.
Black Jack- Which banks in particular do this?
I know that MS, GS, Lazard, and Greenhill have all begun accelerated FT recruiting. But have to understand that nobody is making hiring decisions the last day of the internship (happens 1-2 weeks earlier, and I have to believe they have a good idea even before then), so hiring needs are fairly clear.
If you have to ask... you can't afford it
i know these banks have started looking at candidates but do you know if they've started interviewing? gone to recruiting events/talking to people but haven't gotten an interview invite so wondering if i'm out of the running...
I'm not sure if they have had interviews yet- I know a few of them have reached out to candidates to extend interview invites. Some of the smaller banks it is done on a more informal basis ie. kids with offers in hand from other top banks come in to meet with a few people.
Lol someone didn't like that response, apparently they didn't get the invite... SB for telling it like it is
Yep -- you'll only get an invite if you have an offer somewhere else like a big BB (MS, GS, JPM) or an elite boutique (Greenhill, Evercore, Centerview), and usually you need to know someone there (or figure out how to get to someone) to get connected (they don't advertise). And make it clear you HAVE an offer! I know no one in our HR department is going to waste time figuring it out, and one of the women who works there told me you'd be amazed how many idiots have offers and don't put it in the email, cover letter, or best of all the resume.
Because they already know they have at least x number of spots to fill from people who did not get offers, and there's no reason not to start early.
BX accelerated starts next week.
Are your chances at accelerated recruiting really better than regular full time recruiting?
Although the gist of this is true, it's absolutely not true that you will "only get an invite" with a top BB / elite boutique offer. You'll need a relevant offer at a recognizable name with an accelerated time-table to be considered, but that includes a lot of names other than BBs and elite boutiques.
Agreed. If you had an offer at a BB/elite boutique chances are you'll likely go back. Your chances are just as good if you were top of summer class at a MM or lower BB.
Fair point -- but it depends which bank. The BBs need numbers so may go more broadly, but I know elite Boutiques like Centerview and Evercore (both of which have started their accelerated process) need only a few, so can be more selective. But outside of a handful of firms, I agree with your statement.
My firm has not given out offers to anyone yet though, and while I would be shocked to not get the offer (from the last day exit interview), will this hurt my chances at full time recruiting?
Vast majority of the EB's have started interviewing candidates. Can only think of one exception.
all of them do.
doesn't sound right. Never heard of jpm doing this or gs for IBD
I know Citi, GS, JP, BX, Barc have all had accelerated interviews. This is very common on the last day of the internship stint (August 9/16) because the summer analysts are still in NYC and these firms want to fill the spots with these applicants ASAP
lol you're obviously clueless
Could we make a list of firms that actually have an accelerated process for FT? I haven't started applying yet. Are these for students who study abroad or for everyone?
Pretty much all the firms have informal accelerated processes exclusively for candidates with exploding offer deadlines. There is no "resume drop" or "official process". The structured FT recruiting process starts in September for most shops.
This.
so is the consensus that accelerated recruiting is pretty much set? i can't imagine in a year like this that many BBs will still have spots left open for regular FT recruiting...
Everyone does accelerated and for the most part those processes are done or currently in full swing. Safe to say that if you're not in the process now you won't be.
Anyone here get invited to an Evercore accelerated superday?
Barclays - held acc. superdays in the final week Citi - held acc. superdays in the final week CS - has not started yet GS - full. however, you might find 1 or 2 spots left in their product groups MS - rumor is they interviewed mostly GS kids in the final week of the internship and are planning to run a more formal process for other candidates in september EVP - is not doing accelerated recruiting, planning to do OCR (someone correct me if i'm wrong here) BX - full. JPM - FT recruiting is run through individual groups but they are also finishing up
BX isn't full yet. They're still interviewing (both M&A and R&R) so if you know someone there, get a resume over asap. Their superdays are extremely tough though.
Sorry, but which bank is "EVP"?
MS has already set up two Superdays, one next week and one in early september. Judging by how early they are I am guessing those would be considered accelerated?
thanks for the update fellas.
ct banker - from my talks with the MS recruiters (and a couple analysts who are forwarding my resume), MS isn't planning to give out offers until mid/end September. my friends were told the same thing. we go to a target school
Has anyone else heard from MS regarding the Superdays? Or if all the invites have been sent out?
.
has anyone heard back from JPM superdays yet?
^^which two different dates?
28th of August and 11th of September
Which bank and group are you talking about?
Morgan Stanley IBD
Full-time regular and accelerated recruiting interview questions (Originally Posted: 08/12/2013)
Can anyone shed some light on how full-time interviews are different from summer internship interviews in terms of the questions asked? (e.g. more technical, behavioral, deal-specific, etc.)
Thanks
.
Assuming you did IBD over the summer, they'll ask you about the deals you worked on, what you did, how you did it, why you did it, why the firm was doing it, etc. Know the deals inside and out.
Also, for me, my technicals were framed in the context of the deals I worked on. "Oh, what if the target had NOL's of $100 instead, how would your results have been different?"
I agree with this and i'd add that, from what i've heard/experienced, the interviews are actually even more technical. of course this all depends on the firm/group
Yeah I summered at an ib
Summer interviews dont ask you that many questions. They already know your work.
What if your work on the deals wasn't particularly technical (didn't do any modeling). Will this hurt me in an interview? The firm I interned for doesn't allow interns to model (for various reasons) so it was out of my control...would they ask me to walk them through a DCF, LBO, etc instead?
FT Accelerated Recruiting Advice (Originally Posted: 02/22/2015)
I accepted a SA offer at a well regarded firm, but not quite at the BB/EB level. I'm not sure yet if I want to go through full-time recruiting to try and trade up after the summer, but I definitely want to keep that option open. I know the most important thing is getting the return offer, but should I be trying to network with people at other banks now or wait until this summer to do so? Anyone have any tips on how to approach networking with accelerated ft recruiting in mind?
Network. It’s never too early. Plus, who knows, maybe you’ll hate the SA stint and want to move somewhere else. Having a network at other banks could help.
Feel free to start networking now. Most EBs will pick up 3-5ish FT analysts outside of their summer analyst class. BBs will have more openings. You just have get your resume in front of the right people.
Accelerated recruiting - need help sending an update networking email (Originally Posted: 07/19/2016)
Having trouble figuring out how to follow up with everyone I have been networking with so far. How do you send an update email that you are applying to their firm thru accelerated recruiting?
Should I ask everyone again for a coffee chat or phone call?
Following
bump
How do you apply for accelerated recruiting? Wtf? You should just drop a note and say hey, just checking in.. Enjoy my internship work but feel there might be a better fit at your firm. Could you get me plugged into the process? Etc.
The thing is I already applied to the accelerated recruiting. I just wanted to update the associate that I submitted my resume for HR already.
Should I ask her for any additional feedback or coffee again or just leave it at that?
bump
.
Dude, RELAX!!! All you have to do is to let them know that your have another offer that expires within two days. There is no reason for them to delay a responce, because they usually know right away if they like you or not.
OR, you can talk to the other firm to possibly postpone the expiration date on the offer as you need more time to decide about your future career...as simple as that.
Now, you can help me out, how did you get an accelerated interview? Did you just network with alumni or talk with HR at the BB?
Thanks for the advice.
To get an accelerated interview, you need to have received an offer from that bank so as to be on their "list". I'm pretty sure that's how it works for most banks and that's how I got my interview. It can also be done if you have someone high up (say like a Director or MD) who is pulling for you - though I've only heard of that happening if there is a group-specific need. It's tough to get one otherwise from what I can tell - HR will not be very helpful.
So is this an accelerated interview at a bank in which you already have an offer with a different group?
No, I thought that was made clear in my post. It's two separate banks
for me, an "accelerated interview" is when a BB skips the whole "interview" part and just tells me that i don't get the job. :-(
If you have to, accept the exploding offer then if you get the offer from the BB you renege on it. Why? Because fuck 'em, that's why.
Accelerated Summer Interviews (Originally Posted: 06/26/2010)
Can anyone comment on how these work? Also, when would the timing for these be? Have banks started contacting individuals already, or is that something that usually happens towards the end of July? Thanks!
happens in august, need to contact your friends at other banks in order to get in touch with HR.
have an updated resume ready just in case.
Accelerated Interviews Going on Now (Originally Posted: 08/01/2010)
Has anyone been contacted regarding accelerated interviews recently? When do they usually start and when should you start reaching out (before/after internship)?
This might be something totally different, but I had my orientation at a BB finance program last week and there were a bunch of people in the next conference room over for a superday, although I didn't catch what program it was for.
I'm guessing its for study abroad kids
superdays are happening, as some BBs are only taking xx% of an intern class. I've heard of them happening for S&T, IBD, and sell-side ER (all sell-side stuff). You had to network your way in to these if they weren't internal transfer requests. Even internal transfer requests were usually the result of networking, unless you just dumped your resume into the pile and they picked you. Some groups are even talking to candidates internally even though they aren't hiring.
If I receive an offer as a result of my internship this summer, when should I start contacting other banks about interviews? Would I state in my cover letter that I have an open offer that will expire soon? Or what's the best way to communicate to them that I would need to expedite the interview process?
If you're writing a cover letter, that implies you are probably applying online, which is fairly useless if you want to get into a top group. Unless you have some crazy resume, even that won't draw much attention, as very few people actually read cover letters for more than 15 seconds anyways.
Look, this is an industry with no remorse unless you piss people off. You busted tail for an offer--if you loved your job and the people, you take it. Fuck prestige and exit opps if you simply love your job. If you don't love your job, find a new one, because the intensity will kill you and wasting some of the best years of your life is retarded.
If, however, you want to chase a "better" BB or a "better group", it is far better to find a contact, talk to them, and see if you can talk to the right people through them. People understand if you want to try something different, and if you're a top performer and your boss is a decent human being, they will get you in front of those other groups within the bank. Outside of the bank is your call--I doubt asking your boss would get you very far.
Contact ASAP. There have been tons of networking opportunities across BBs this summer already in NYC.
accelerated interview (Originally Posted: 08/03/2010)
when will the accelerated interview process start? when should I apply online and who is qualified to participate in the accelerated interview(I heard some people say only students gotta on exchange will be given the honor of accelerated interview)
No love?
I believe it is going on right now across BBs
Hello It is About to start . keep an eye on it .. will post as soon as it begins .. all the details will be mentioned online
thanks http://www.fintel.us/
How does the accelerated process work for current SAs? (Originally Posted: 06/08/2012)
Currently an SA at a BB. Anyone know anything about the SA lateral process at the end of the summer? Only thing I got is that you can't do it without a FT offer from your SA employer.
Do you apply online or something? Cold-call HR at other banks? Email all your buddies at other banks?
I got my SA through OCR, and as I understand it, the lateral interviews are over before FT recruiting even starts.
I'm assuming you're talking about accelerated FT interviews. Don't want to make sweeping generalizations, but from my experience, the few interviews I got were entirely from connections and were on an ad hoc basis, all before FT recruiting started (since my bank made me give them an answer before FT interviews started). I don't think my situation was atypical. However, I'm sure some banks reach out to a few schools/candidates to set up more "structured" accelerated interviews.
Also, I wouldn't use your work email/phone to contact your buddies/contacts, for obvious reasons.
Woops, yeah was talking about accelerateds. Long night..
Edited it haha
From what I remember it's a somewhat organized process within the bank's HR department (e.g. they will have "superdays" for the accelerated candidates), but the whole process happens before school starts back up so your campus recruiting office doesn't get involved. So to get invited to one of these interviews you have to have someone at the bank submit your resume and go to bat for you (doesn't have to be a senior guy, can be a SA or analyst).
How to prepare for Accelerated Recruiting interviews (with a BB return offer) (Originally Posted: 08/16/2014)
Received a return FT offer from a BB after this summer, but looking to lateral. I received a few opportunities to interview and would appreciate advice.
What kind of questions should I prepare for (other than typical summer analyst interviews)? What are good reasons to respond to, "why our bank and not x bank's offer?"
Make sure you're ready to talk about your deal experience, how you contributed, and the financial metrics of the transaction.
Seems like there is a ton of accelerated recruiting going on this year (Originally Posted: 12/09/2014)
Is it just me who thinks this way? I feel like every other day there are more ppl posting threads about first rounds and superdays at banks.
Most have accelerated tracks, yes. Regardless it does last through January and February.
My shop has accelerated tracks for women and people from other groups which are heavily under-represented in the financial services sector.
We still do usual interviews at our targets in Jan-Feb.
So what's the difference between accelerated and regular interviews?
Grabbing talent out of the pool at a quicker rate for a stronger SA class - at least that's the textbook POV
It's really interesting. Just seems like more banks are starting to recruit with an accelerated process.
F*($ this accelerated recruting schedule! (Originally Posted: 10/29/2015)
I don't know about anyone else but this accelerated recruiting absolutely sucks. I don't care how interesting, prepared, or well adjusted the candidates are. Having to do FT and SA back to back, hours sifting through a mountain of resumes, asking the same damn questions 20 times a day. Sorry for posting nothing but a short rant, just trying to vent a bit and get some moral support from anyone else who despises this annoying trend.
On the other hand, how do I be on your good side if I'm the receiving end of those questions...
Be prepared. Honestly that is the only advice I can give because I promise you, every other candidate is. Well, one more thing. If there is anything unique or interesting on your resume, be prepared to talk about it for more than 2 sentences. I am going to ask you.
Hey, it's still a break from Excel!
Have you done any diversity recruiting interviews? Do you know if they differ in any way?
No experience with this. Sorry.
what's your recruiting schedule like?
Meaning when will we have a superday or meaning how much time in my day to I spend on this crap?
how much time a day do you spend on it, and how long (days/weeks) will you be engaged in recruiting efforts
When I was an analyst I would have to take trips for OCR that took an entire day. Now I just review resumes and conduct phone interviews (Mostly just VP/Analyst combo for OCI). For one school it probably takes 1-2 hours just to go through the resume stack. Say there are 40 resumes there are probably 8 worth calling, each of those taking at least 30 minutes. Then there is deliberation with other associates, superday, more deliberation. Probably 4-5 work days (@14hrs/day) in total for FT and the same for SA candidates. Maybe I'm just inefficient, others can chime in here.
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