There’s been many discussions about decreased headcount either from COVID-19 or other factors. Will non-target students be recruited less to accommodate decreased headcount? If I’m a non-target is there anything I can do to standout? Should I look into other careers?
| +98 | New Article: Dramatic Slide as UBS #22 (US) & New Leadership Desperately Needed | 20 | 9m |
| +77 | Americas M&A League Table Q2 Updated | 30 | 21m |
| +72 | Wealthy Parents / Jaded | 24 | 10m |
| +55 | How are hours rn for SA (interns) | 30 | 4h |
| +46 | Venezuela Debt Restructuring - LAZ vs CVP | 22 | 11h |
| +42 | A COMPLETE GUIDE TO SUMMER INTERNSHIP RECRUITING | 10 | 24m |
| +37 | Boutique firm wants access to my LinkedIn? | 31 | 1h |
| +28 | Investment Banking in Mexico | 8 | 4h |
| +26 | MM bottom bucket bonus | 9 | 3d |
| +24 | UBS GIG, LevFin, FSG Interns working Sundays and 85 hour weeks their first week? | 12 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Most kids at Target are going into MBB and FAANG over IB lately so Banks would have to recruit more Non Targets
disagree. Banks instead of taking the top 10-20 percent at a target would just lower the bar at a target and take the top 20-30 percent instead.
This isn't false per se but as someone who recruited out of a top target it's still not like there's a shortage of kids they can take from targets lmao plenty of ppl still don't get the positions they want.
curious, why MBB over IB?
Presumably the main thing is the way of thinking. While yes anyone technically can be taught IB, consulting is a lot more natural given the analytical way of thinking that is prevalent at top tier schools. especially given the variety of majors that people studym
it might be a controversial opinion but MBB pretty much offers better overall experience than IB. most people go into IB for PE but you can get into MF PE thru MBB. Their culture, support system, and other benefits are way better than IB. Also MBB provides transition time where they pay you to find job for like 6 months. MBB is fairly harder to get into since they focus a lot on meritocracy thru grades and target schools so it’s not likely that a lot of people can just network their way in.
The culture and overall experience has always been better at MBB vs. IB, but I disagree that people are gravitating more towards consulting vs. banking. I don't think anything has really changed in that arena.
I do agree that to some extent banking is losing out to tech / FAANG, which is a trend that has been taking place the last 10 years, but the trend has been much slower vs. what people had expected and there is a bit less overlap between these candidates as well. If anything, IB at top targets is losing out candidates to direct PE/HF, which have begun to pull from undergrad level for their analyst roles (increasingly). This is only a handful of kids per year, but this would be the "top talent" most likely. Other than that, I think the same profile of student today is going into banking as was going in 10 years back. IB lifestyle / hours suck, but that's no secret, and it has always been the case.
very much agree that MBB is a better cultural and support system, but has it been feasible for MBB to go to MF PE? Thought consultant to PE was a very difficult transition if you're not going to a consultant-friendly shop, and that a consultant would be less technically strong than their banking counterparts, so can't imagine MBB -> MF PE available except for the top few consultants
For MBB, does location matter as much as for IB? Or are the regional offices regarded as highly?
No! everyone goes thru the same resume filter and then get passed to their preferred location after round 1.
MBB is harder to get into
I would say the proportions will remain the same for each bracket. Reductions across the board for all target and non-target students. As long as your application fits the bill, you will be given a shot. The same preference for target will remain, but the amount of target applicants will decrease at the same rate as non target. Target will constitute the majority of incoming classes as per usual and non target will constitute a minority.
Animi sunt quae nulla ipsum. Non sint et sunt consectetur. Beatae delectus voluptatibus sapiente eveniet beatae unde sequi.
Eum esse fuga quod sequi. Possimus veniam et sed minima dignissimos. Consequatur odit fugiat voluptates rerum voluptatem similique eum. Quia saepe aliquid laborum quia.
Nam et mollitia facere ea. Qui earum consequuntur consequuntur accusantium delectus porro et. Harum quod qui amet praesentium minima incidunt recusandae.
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...