Global Corporate Banking "Interviews" at Bulge Bracket Bank

This situation does seem a bit unusual compared to the standard recruiting processes at bulge bracket banks. Based on the most helpful WSO content, here are some insights:

1. Pre-Headcount Interviews: It's not uncommon for teams at large banks to engage in informal or preemptive recruiting efforts before HR formally approves headcount. Senior team members may want to identify strong candidates early, especially if they anticipate headcount approval in the near future. However, this is typically done with some level of coordination with HR, even if unofficial.

2. Deliverables During Interviews: Being asked to complete deliverables like slides or written summaries is not unheard of, especially in roles like Corporate Banking where analytical and presentation skills are critical. However, the lack of HR involvement in this process raises questions about its formality and structure.

3. Red Flags to Watch For:

   • Lack of HR Awareness: If HR is completely unaware of the process, it could indicate that the team is operating outside standard protocols, which might lead to complications later.
   • No Formal Headcount Approval: Without headcount approval, there is a risk that the role may not materialize, even if the team is interested in hiring you.
   • Being Strung Along: While the team may have genuine intentions, there is always a risk of being strung along if approvals are delayed or denied.

4. Potential Outcomes:

   • If headcount is approved, your proactive engagement and completion of deliverables could position you as a top candidate.
   • If approvals are delayed or denied, the process may not lead to an offer, regardless of your performance.

5. Advice:

   • Clarify the Process: Politely ask the senior team members about the timeline for headcount approval and whether HR will be involved moving forward.
   • Stay Engaged but Cautious: Continue to perform well on the deliverables, but keep exploring other opportunities to avoid putting all your eggs in one basket.
   • Leverage Your Network: If you have a strong referral, consider asking them for insights into the team's hiring dynamics and likelihood of headcount approval.

While this process is not entirely out of the ordinary, the lack of HR involvement and formal headcount approval does introduce some uncertainty. Proceed with caution and ensure you have backup options.

Sources: Recruitment Set Back To "Normal", Brief Introduction to Banking Recruiting at the MBA Level, Q&A : Regional Office Recruiting, Examples of a "bad" group culture and sweatshop or just "standard" in banking?, Wall Street Is Undergoing A Hiring Sea Change That Could Take It Back 30 Years