IB First year analyst recruiting and chances ?
I’m a rising junior. Not finance and I decided pretty late that I wanted to do finance. Nevertheless, I landed an internship at a lower tier BB. However, I’m targeting top PE (working there this summer and loving it) and the bank isn’t the best feeder for that. If I lock in properly I feel like I would be able to land top BB/EB roles but I’m not sure how full time recruiting works post summer internship. Is it worth pursuing this? Id love to hear people with similar experiences
What does top PE mean? If you mean MF's: lateral after a year. Going for FT recruiting in this environment isn't worth it. I am at a mid-tier BB, and our intern return offer discussions are going to be tense since we have been communicated that there are fewer full spots; we are not hiring for FTs. I think a lot of banks are similar boat. If going for UMM/MM: just stick to your current place, you will be fine. Have a few friends and they get a bunch of MM/UMM PE stuff, and know a few second years from there (same year as me) going to UMM firms. I didn't go to HYP, but an Ivy: so maybe you'd do even better in recruiting than the school friends I know there.
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I think it's way better than trying to recruit FT for the maybe 3-4 spots at significantly better firms that would be available. The market right now is terrible, so I would just focus on getting a return. It's also going to be more spots overall that open up as firms either look to expand (due to understaffing) or simply people leave analyst programs early (there are quite a few every year at each top bank). Just my 2 cents: I'm at a mid-tier BB and was able to get a UMM offer of my choosing, but if you're dead-set on MF PE, then I would go for any of the various top BB/EBs to be competitive.
I am not going to bore you on the MF vs. not MF discussion as it has been heavily discussed: but think consensus on this server is MF's are the best 2-year programs and the best seat for longer-term PE career is some type of growing PE firm (consensus seems to be growing UMM>MF for longer-term PE careers).
Coming from HYP you can easily place top BB rerecruiting, but will depend on the market next summer which is a bit hard to predict. Also no hate but RBC is not a BB and you say that you are incoming in the sentence after hiding which lower tier BB you are incoming at
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