I just wondering how the recruiting team takes decisions. Has each analyst his pile or resume or how does it work? What can we learn from this for networking purposes?
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for SA, they pretty much dont even look at resumes for a lot of firms. Applications are often rolling so you want to be the first in the door. From there you should have built up a network in the bank. Preferably speaking to 2 analysts, then speaking to 2 associates, then a vp, and if your luck you work your way up to an MD. These are the people that will pull you through. Then the interview is up to you but they can have some pull in the process if they really like you and the firm is smaller or someone you spoke to has a lot of power. For FT, idk.
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HR and hirevues screen alot of shit, and they decide if you get through to next round or not
for my bank at least, networking really only helps during the actual interviews when you interact with the people you networked with. everything before that is hr
Hate how JPM does this
^^^ yea its whack
Maybe every bank is different but HR is mostly there to just manage the process and handle logistics. The first screen (who gets first round) is usually run by your school alumni group and they might also run the first round interview for you. After that, it’s mostly on you to get the job. You’re in the general pool of interviewees and you’ll be interviewed by senior bankers that are available. Your network might be able to help you out if you’re on the edge or it’s down to two people (obviously they will take the person that people can vouch for), but otherwise it’s up to you.
1. some junior guy gets sent a stack of resumes (most likely pre-screened by auto filters or HR)
2. picks resumes to fill the xx slots for first round interviews
3. that guy or HR schedules phone interviews with the other junior people who have volunteered to interview kids
Also interested. I’be gotten SDs with networking and also with no networking at all at BBs. Female but not diversity otherwise.
Is you resume crazy good?
No previous banking experience so not cookie cutter impressive. Varied finance experience (not IBD/S&T) and extracurriculars, but I wouldn’t expect it to be a resume that would be picked up by AI screening. I even dropped an app a month after it opened (I was dumb and thought I submitted but didn’t), no networking, and still got a SD invite. Super odd.
Most banks want hiring classes that are atleast 50% female. So even if there are 2500 male candidates and only 100 female candidates applying for a role at a certain team, you will have a much smaller pool of candidates to compete with.
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How do banks keep track of networking? Is there a sheet people fill after each call, just wondering...
Ive always wondered this
People remember you if you do it correctly. There is a file with resumes and names.
Each place place probably does it different, but I keep a simple spreadsheet with them names of those who reached out, notes from the call, and then a basic ranking (highly recommend / recommend/ etc). Otherwise it’s nearly impossible to remember exact thoughts on someone a few months later and when there is a pile of resumes.
If you do it correctly you will eventually speak with the people in charge of recruiting kids from your school, or someone senior enough involved with recruiting who puts in a recommendation. I think some places track networking but not sure about this.
Does the recruiting team reviews apps together? I mean what if I network with someone on the team, and my resume is reviewed by someone else. That's why I was wondering about a spreadsheet
We don't keep track of it. If you stood out, we'll make a note to our VP in charge of hiring that you were a good candidate, and you'll likely get a first round if you apply. If you just asked generic advice and questions, we might not even bring it up.
How do you stand out? Literally all the guides out there say to ask generic questions
this works only if you have alumni at the banks for first screen. what about non-target schools?
non-target speaking. had great conversations with non-alumni as well that were helpful during recruiting and in getting phone screens. It's tougher, but it is still possible.
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