What companies have late interview processes and go on for a longer time for ib? In other words I'm fucked since I didn't properly network and am wondering which firms should I put effort, if any, in networking and polishing up my technicals? Or is it time to switch to MBB?
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Based on the most helpful WSO content, there are still opportunities in investment banking even if you’re late to the game. Here’s what you need to know:
Boutiques and Regional Firms: Many boutique investment banks and regional firms have less structured and more ad-hoc hiring processes. They often hire "as needed" when someone leaves or when they need additional support. Networking is key here, as these firms may not post openings publicly. Focus on showing genuine interest in their firm and culture.
Lower Middle Market (MM) Firms: Some lower MM firms may still be conducting interviews later in the cycle. These firms often have slower processes compared to bulge brackets (BBs) and elite boutiques (EBs). Networking with associates and VPs at these firms can help you get your foot in the door.
Valuation Advisory and Big 4: If you’re open to alternatives, valuation advisory roles at Big 4 firms or other accounting firms (e.g., Duff & Phelps, Vault 10 firms) are worth considering. These processes are often faster and less technical compared to traditional IB roles, and they can serve as a stepping stone into IB later.
Switching to MBB: If you’re considering MBB (McKinsey, BCG, Bain), it’s a viable option, but keep in mind that their interview processes are also rigorous and require preparation for case studies. If you’re leaning toward consulting, start networking and practicing cases immediately.
Polishing Technicals: Regardless of the firm, being technically sound is non-negotiable. Use resources like the WSO IB Interview Guide, the 400 M&I question guide, and Rosenbaum & Pearl’s book on M&A and LevFin to sharpen your skills. Be prepared for questions on DCF, LBOs, and accounting principles.
Networking Strategy: Even if you’re late, networking can still open doors. Focus on smaller firms and alumni connections. Tailor your outreach to show you’ve done your research on the firm and its recent deals. Highlight your enthusiasm and willingness to learn.
If you’re determined to stay in IB, focus on boutiques, regional firms, and valuation advisory roles. If you’re open to pivoting, MBB is a strong alternative, but it requires immediate and focused preparation.
Sources: Guide for Investment Banking Full-Time Recruiting, Guide for Investment Banking Full-Time Recruiting, Q&A: Big 4 Consulting to Lower MM IB to MM IB (No MBA)., Don't get OfficeHours., Q&A: Recent graduate starting at MBB soon
Bump
switch to MBB atp i would take MBB over any of the firms left
easier said than done, esp when you’ve already learned the technicals/didn’t envision consulting. also if you strike out on ib, esp if coming from a non target or semi mbb is prob harder
if you want to use your SA2026 to recruit again for a better bank, MBB gets you further than a random LMM 10 headcount bank
Do u recommend trying for other non-ib fin. roles? Like wm, er, buyside, etc?
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