How do I recruit for full time when I already have SA lined up?
I accepted an IB offer for summer 2022 at a MM bank (Deutsche/RBC - wouldn't be considered BB but some consider them in between MM and BB). I'm currently a junior at a T20 semi target (Vandy/WashU). I want to be at a BB or EB that would give me the best shot for PE or even MF PE. I networked quite a bit sophomore year so I'm comfortable having conversations with bankers. However, wouldn't it be fishy if I started networking and people realize I want to leave my bank before even starting the internship? How would I go about explaining this? Or will bankers understand? I also have group placement before the summer so I'm wondering what product/coverage I should aim for that would set me up best for full time recruiting.
Bump - thank you for posting. I have the same exact question. On the one hand, if you network early and potentially secure a FT offer before the SA is even over / before you need to make a decision on SA return offer, then you don't need to worry about the whole reneging thing. But on the other hand, if you are networking before/during the SA, wouldn't that look bad? Perhaps if the jump you are making is substantial (e.g. LMM/MM -> UMM/EB/BB) then it wouldn't be such a big deal? In any case, how do you explain this when networking with bankers at your target FT firms?
Was in your exact position- knew I wasn't going to stay at the SA that I signed with. Regardless of what others say: if you network for FT before your SA, chances are your team will not know about it. That being said, you need to keep it "low key" (i.e. do not send too many emails) and you need to keep it strictly as a learning opportunity. I positioned my calls as solely learning about the particular coverage group that I liked. (I only networked with tech bankers for FT bc I wanted to do tech IB). Do not talk about FT recruiting unless they bring it up- then position it as you are "keeping as many doors open as possible."
Once your SA begins, after Week 2 start ramping up the emails to the groups that you are interested in and start sending updates to your contacts that you've made in the Spring (if you decide to network early). Try to get on live deals/interesting tasks so you can update your contacts every 2-3 weeks during your SA.
By week 7-8 you should be asking your contacts to get on the phone with them to talk about potential FT recruiting. Now is the time to be direct and a bit more "aggressive" in your ask. The bankers will know what you want and ideally they will keep you in the loop for FT recruiting, when the interviews are, etc. Make sure to keep your resume updated every week, because they will ask for an updated resume around that 7-8 week time.
FT interviews go fast so it is crucial that you prepare for technicals/behaviorals starting week 7-8. Make sure to keep it low-key, especially if you are in-person, but you need to be preparing your answers like the interview could happen tomorrow.
Thanks man, when would you say is the best time to start networking for FT?
I started in October of my junior year, but I realized that was a bit early. You can start in January/February and be better off since there is a higher chance they will remember you.
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