FT Recruiting Advice
Currently thinking about the best way to navigate FT recruiting, as I’ve heard the difficultly of the process. I have a SA IB experience at a MM bank and will be going into a MM direct lender this summer but not sure if I’m ready to fully commit to private credit. Was wondering if recruiting FT for select IB groups like Rx, LevFin, and FSG at BB and EB is possible. Have heard top Rx shops will be near impossible but still curious about other shops. Would appreciate any insights!
Based on the most helpful WSO content, here are some insights on navigating FT recruiting for specific IB groups like Rx, LevFin, and FSG at BB and EB:
Group-Specific Recruiting:
Networking:
Timing and Openings:
Challenges in FT Recruiting:
Strategies for Success:
Additional Tips:
By focusing on these strategies and leveraging your existing experience, you can improve your chances of successfully navigating the FT recruiting process for the specific IB groups you're interested in.
Sources: Q&A: Incoming IB analyst – international student, survived FT recruiting twice…, Is BB NYC FT Recruiting Group Specific?, 2023 Recruitment Official IB Rankings (Post-CS), London (Dutch) FT recruiting, Recruiting for RX FT after M&A virtual internship?
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Giving advice as someone who went through the process this year. The key is to build a strong network before the summer since you aren't going to have a ton of time during the summer to do networking calls in the daytime. Cast a wide net of banks and teams you'd be willing to work for since some of the FT listings won't be posted at all and done just through networking. Check back in with your contacts mid-summer to check in and continue to express your interest (I neglected to do this, big mistake), and follow up again once your internship is over. Have all your interview prep done by the end of the internship since EBs will kick off in early August (some BBs this year started a bit later and are wrapping up just now, but normally they'd be done before September as well).
From my experience, for FT BBs had "easier" interviews on the technicals side and seemed to look more at fit, while the two EBs I interviewed for were a lot more difficult when it came to technicals.
The biggest key though is getting a return offer. From what I know this cycle, people from even EBs and BBs who didn't get return offers have had a lot of trouble landing things for full-time, so since you're going to be coming from something below that, it kinda speaks for itself as to why you'd at least need that.
Also can't speak to the difficulty of breaking into RX FT, but just anecdotally the few I know who were able to do it came from an EB or an upper-tier BB so yea probably wouldn't be worth your time.
This guy hit the nail on the head. I just did FT recruitment and had the same experience. Network and be ready for interviews the second your internship ends. Stay in touch with your connections and leverage them the best you can throughout the summer.
Really appreciate the insights - super helpful! I feel as though some groups I have a better story for than others (like levfin and rx coming from an IB and PC experience) but will cast a wide net for EB and BB for these groups.
Should I start reaching out now or would it be too early? One thing I realized in my SA process was my lack of continuous chats with people I spoke with till the time of applications and interviews and that led to dead connects.
Thanks for the great insight! When you're reaching out to people, how did you frame your reason for reaching out? Did you say you're going to x in the summer but is interesting in exploring more or ignored that completely? Thanks!
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