Full time IB recruiting

Looking for advice about full time recruiting as I’m considering going through the process next summer. I’m interning in capital markets and hoping I can land M&A at a MM of similar tier or BB. I know that’s a long shot but I’m hoping I can pull it off if I network enough. I know pretty much nothing about the process and would appreciate advice on how to prep and when to start networking again, etc. Particularly whether I should target certain groups or just talk to people across the bank.

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Based on the most helpful WSO content, here are some detailed steps and advice for full-time investment banking (IB) recruiting:

Networking

  • Start Early: Begin networking as soon as possible. Ideally, you should start networking the summer after high school and continue through your freshman year of college. This early start can give you a significant advantage.
  • Target Alumni: Reach out to alumni from your school who are working in the industry. Use LinkedIn or your school's alumni network to find contacts.
  • 15-20 Minute Chats: Schedule brief, 15-20 minute informational interviews with professionals in the field. This can help you build relationships and learn more about the industry.
  • Network Across the Bank: Don’t limit yourself to one group. Networking across different groups within the bank can help you find the right fit and build a broader network.

Resume and Application

  • Write a Good Resume: Spend a significant amount of time crafting a strong resume. Seek advice from friends, mentors, and professional connections to refine it.
  • Highlight Unique Skills: Identify and highlight any unique skills or experiences that make you stand out. For example, knowledge in specific areas like oil or statistics can be valuable.

Interview Preparation

  • Research: Do thorough research on recent trends, deals, and specific transactions that the firm you are interviewing with has closed. This knowledge can be crucial during interviews.
  • Technical Skills: Be well-prepared for technical questions, especially in accounting and valuation methods. For M&A and LBO, ensure you understand the fundamentals and can discuss them confidently.
  • Know Your Story: Be prepared to answer the question, "Tell me about yourself." Practice your story until you can deliver it confidently and clearly.

Timing and Strategy

  • Understand the Offer Situation: Try to understand the offer situation as early as possible. If you sense that you might not get an offer, start talking to other banks immediately.
  • Enjoy the Process: Remember that the recruiting process is also a time for you to assess the bank. Make sure it’s the right fit for you and that you enjoy the work and culture.

Additional Tips

  • Bonding with Interns: Engage in activities that help you bond with other interns. This can create a supportive environment and make the experience more enjoyable.
  • Be Invaluable: Look for ways to make yourself invaluable to the team. This could be through your work ethic, unique skills, or willingness to help others.

By following these steps and starting early, you can increase your chances of landing a full-time position in M&A at a middle-market (MM) or bulge bracket (BB) bank. Good luck!

Sources: Non-Target to MM IB: My Advice, https://www.wallstreetoasis.com/forum/investment-banking/m7-ib-associate-full-time-recruiting?customgpt=1, Guide for Investment Banking Full-Time Recruiting, Non-Target to MM IB: My Advice, Guide for Investment Banking Full-Time Recruiting

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