BB Group Placement Process Comparison
Starting this thread to compare the placement process amongst BBs. What bank has the best, most transparent process? What bank has the worst process?
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who knows but if I have to use that bs Avature website to rank for Citi, they get the top for worst process
I've been told that Morgan Stanley's placement process is very unpredictable. Have heard a lot of people getting their 4th choice there.
That’s bc almost every single person has m&a, mediacomm and sponsors as their top 3 (and maybe industrials/gpug/transpo if they have a strong connection).
But someone needs to fill all the slots in fig, tech, natres, healthcare
Love the subtle jab at the last groups you listed.
Can tell you that I didn't have all of those at my top 3 as I had a genuine interest in other groups and ended up getting none of my top choices.
went through the BofA process and it was very good. First we were tasked with ranking all groups in our preference order 1-11. After this interns spoke with three groups. I spoke with 2 out of my top 3 preferences. ended up getting the group I wanted. overall very predictable and you can def get the group you want with networking
Just curious, was Palo Alto tech an option to interview for? I’m going to that group this summer and they did their own recruiting away from BofA’s overall process. Just curious if the other interns will all be direct hires or will come from placement days too.
RBC's wasn't bad. They sent out videos of each group giving a 15 min pitch on why them and then emails of analysts and associates in each group in charge of coordinating phone calls. Supposed to be 2 weeks, but they added a week because of Coronavirus. So we had 3 weeks to network with as many groups as we wanted. We had to rank our top 6, but we could rank more if we wanted. We were also required to write reasons why we ranked the way we did but they told us only HR would see that. Then a week later we were told to check the website on which we ranked our top groups and that was it. Most people I know got somewhere around their 1st through 3rd choice.
RBC isn't a BB though.
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Any insight on the process at Barclays?
Heard that Barclays has ECM/DCM in the same pool as banking so you could potentially end up there. That true?
ECM/DCM is a product group at Barclays, so that's why.
You rank your preference of groups, and the groups rank their preference of interns/analysts. HR finds the best fit accordingly, and I think it generally works out for people.
Works out as in high chance of getting top choice? What factors into group rankings? Networking, resume, interest?
They all make the interns sit in the grand hall and one by one the sorting hat decides where each will go
How does Goldman work? Still haven’t heard back from them for IBd summer
Hope this isn't a troll comment. But GS gives you an offer into a group, so you should've known your group whenever you got the offer. Would probably be beneficial for you to start networking with your group now so people know about you
not a troll, i wasnt given one. interning in the london office btw?
JPM in London, great process - initial ranking of sectors, then a few weeks of phone calls/networking with your top 3/4 groups and then a final ranking of sectors and then you’re placed. May be different in US.
Insight on Citi?
pretty bad as everyone wants M&A plus a couple of top coverage groups and everything else is a huge step below
~
Wells Fargo objectively horrible (at least as of a few years ago - there was a great thread on here that went into detail about it). Don't know if they've changed it since that thread blew up, (I don't/didn't work there), but I had a few buddies who interned there get very screwed by their process.
Don't think they changed it. Know someone who got 2021 SA offer. They have to go through city and group preference in the fall
That’s terrible. Imagine you want NYC and end up in Charlotte. Gross
Interesting. I emailed HR a week ago about 2021 placement and they said city placement would be done after the generalist offer.
Replying to my original comment for visibility. Seems like they haven't changed. The biggest issue (in my opinion) outside of the city issue (if you accept a WFS IB offer you should know anyway there's a high probablity you'll end up in NC), was that they grouped their asset-backed lending, IG loans, and capital markets functions into their IB program. A lot of kids accept the offer thinking they'll be doing investment banking, then get placed into one of those groups that most certainly are not investment banking. Classic bait and switch.
sleekerman
Wells Fargo Securities isn't a BB so I figured it wouldn't be relevant to this thread to comment about their shitty placement and recruitment process.
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