Investment Banking SA24, Non-Target Struggling
Over the past few months, I've worked extremely hard at the summer analyst process. I had many chances to interview (from networking) but fumbled countless times. Currently, I have nothing going for me.
From this process, I have two big takeaways. One is that you need to get on the call with as many people as possible and keep creating opportunities. For every 20 calls you make, at least 1 of those will lead to an interview. The second takeaway is that timing is a huge factor—it's really all up to luck and something you cannot predict... This past month, I've been on countless calls where I've had great convos but learned that the role is completely filled.
I want to keep at this. I'm not giving up, but I don't know what banks are still recruiting (where you can still network and get a first-round interview). Does anyone have any advice/leads for me? I'm also looking to explore beyond M&A, maybe PCA, buy-side, valuation, etc.
Thanks guys.
what do you mean by fumbled? was it the behavioral questions or technical aspects that you were not proficient in while interviewing?
I would suggest looking at banks that recruit throughout summer and start applying asap. now might be too late to network, just submit apps and then network afterward.
How can I figure out which banks are doing that? Having a hard time finding them
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I think a lot of people are in the same boat, target and non-target. I think it comes down to the fact that you're competing against the best of the best who are panicking as well. Banks have downsized their 2024 SA classes by up to 40%, and assuming you're a non-diversity candidate, that makes the pool very competitive since everyone wants to do banking nowadays.To be honest, I don't know any specific banks that are in the early stages of recruitment at this point. Of course there probably are, but I just can't think of any. I think you should keep searching for banks that are recruiting and nail your technicals/behaviorals so you are ready when an opportunity does arrive. Or you can switch over the management consulting or some corporate advisory consulting path and re-recruit FT for banking. Or you can do both, but case prep and technical prep are kind of a heinous duo, but possible.
i'm right there with you man. hopefully a few places will re open periodically throughout the summer & fall
In the same boat, I know for sure that Truist and Citi are going to recruit more in the fall based on connections I have there so I’m networking hard now.
I’m surprised about Citi. How sure are you about that?
An analyst told me they finished target recruiting and are recruiting for non-targets in the fall once the re evaluate how many bankers leave etc.
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