Full Time Recruiting Chances
For context, I'm currently a sophomore at a non-target, and I'm lucky enough to have an offer at a lower-tier BB(UBS/WF/RBC) for SA 2026. How difficult would it be to try to recruit again for a higher-tier BB or for the EBs. I know this is largely dependent on the market and returns given but curious to see if anyone has been through the process. For context, I already have 2-3 touchpoints at a few firms I'm interested in.
Know of a few people (myself included) who did SA at worse banks you listed but successfully recruited FT to EB/BB. FT has a ton of luck attached to it, but you're in a great position.
Do you have any advice/tips on how to make that transition? I know you mentioned luck but what does that timeline look like and what do you think helped you stand out
Networking a lot before the internship started to build solid connections, but also being strategic about it so as not to come off as though you don't want to give your current situation a chance.
You're not going to have much time during the summer to network, so it is vital to do that beforehand. A lot of processes start right after, if not slightly before, the summer internship ends. Check-in with your contacts midsummer and at that point formally express your interest for FT, then after you get a return offer at the end of the summer, follow up again.
You 100% need a return offer to re-recruit FT though, so during the summer you need to be completely committed to your current situation and not give any signs your eyes might be elsewhere. Pretty much anyone I know who didn't get a return offer from EBs/JPM/GS/MS this year wasn't able to land another IB spot FT.
Congrats on WF! Even that one ED that wrote paragraphs shelling for WF in previous threads admitted multiple times it's not in the same tier for exits or broader reputation than UBS.
Okay sure I concede that lol, I didn't create this thread to create a debate if you want to state UBS is better for exits then sure I agree
Just trying to poke some lighthearted fun, not that deep. Also just always get wonky listings whenever people do this (saw some dude do UBS/Barclays/Citi too before; like obvious that person is going to UBS). Work at the other lower-tier BB (DB) for reference, though UBS somehow gets shit on less than us, which makes no sense b/c that firm seems like it's dying.
To answer your question though: prob gonna be extremely difficult this year, almost every firm is doing layoffs and over-hired. MS just announced layoffs firmwide, BoFA just did a massive round of layoffs, etc. I would focus on actually getting the return rn especially given it seems like your year is going to be quite competitive for returns relatively since banks are in a firing mood, not a hiring mood.
WF is a phenomenal firm that is rapidly growing with some great hires from across the street in most of their key coverage areas! Wouldn't count it out, at least give it a shot and see if you enjoy the people/culture. Remember that your career is a marathon and not a sprint. IMO analysts want to be in a place where there are good people and you can get a variety of transactional experiences, which I think WF can definitely provide you. With that being said, I will acknowledge that WF is perhaps going to be weaker for those solely interested in the MF PE -> HF route or something along those lines, but those kinds of careers are not for everyone (really have to be interested in public markets) and MF PE these days is largely commoditized as a business with no line of sight to promotions.
Re-recruiting this year is frankly going to be near impossible most likely. I have commented on this earlier but to repaste:
Banking FT spots open up either in one of two scenarios A) more juniors are needed, and B) someone turns down an offer (typically a case of someone going up-market opening up a singular spot or two. A) is more likely not happening and we have seen a decent bit of junior firing recently, including at UBS/CS and even more recently at BoFA. The expectations internally within most banks was that 2025 would be significantly better than 2024; so far into the year at least for the US, that is patently false in transactional size and broader volume for M&A. Similarily, it seems SA classes are bigger than perhaps the level of deal flow as they were hired in anticipation of higher deal flow than is presently the case, would assume lower return rates this year than last (where expectations were low heading into 2024 SA recruiting). Would expect essentially 0 spots to open up and any that open up will most likely be taken up by very competitive kids from other top BB/EB's who might've not gotten a return from targets or something of that sort.
But wouldn’t FT open up based on the market mid-2026? If things are somehow realigned by then it should be much more realistic right?
No because the hiring classes for SA 2025 and SA 2026 were in expectations of a very bullish outlook, right now it's now shaped up to a very bearish outlook. So even if it reverts, we just go back to expectations, and if it doesn't: low return rates are to be expected. On the note of the FT recruiting process part; I have seen these happen over various years and I would say ~90% of spots are taken up by one of 3 groups: 1) people who did lower or mid-tier BB/EB's or reputable PE/PC internships going to top-tier BB/EB's (eg. DB -> GS/MS/JPM), for those going to lower-tier or mid-tier BB it'd be from respectable MM firms for past IB or PE/PC experience (RBC -> Barc for example) 2) Top tier BB no Return Offers going down market, 3) just nepos. Purely going from an MM to a BB is quite difficult even in regular years and typically will require various senior referrals which is pretty hard to get unless connected or in one of those 3 spots.
Going to push back a bit on the last sentence as someone who went through the FT recruiting process this year, and came from a target. Anyone from my school who didn't get a RO from a top BB/EB wasn't able to land anything close to the level of their SA bank (as far as I know, only one got a solid MM IB role). Everyone who had success in the FT process (meaning landed BB/EB without doing SA there) got a RO from their SA.
Yeah I 100% am not going to rule WF out and won't take the experience for granted, I will try my best to make a good impression and get people to enjoy working with me but I did really enjoy the culture at one of the EBs I networked at and just was wondering what that would look like, thanks for the insight!
Not that it’s the same thing but I didn’t even have a banking internship and managed to break in FT to a well respected bank so I’m of the opinion that anything is possible. Also it seems like your at a super good place already so don’t sweat it and let these prestige obsessed idiots get to you
Yeah gotcha
Dicta et nostrum aut officiis aliquam et. Voluptatem consequatur sapiente ad fuga voluptatem culpa. Esse magni qui cupiditate explicabo. Eaque est aut repudiandae amet necessitatibus cum tempore. Minus nobis aut dolorum deleniti dolorem aspernatur delectus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...