Just How Bad is 2021 Recruiting This Year?
I just got approached by a really smart student I know who has a 3.9 GPA from a semi-target, a boutique IB and PE internship, and is president of two clubs. This student was late to the game and did not recruit for SA positions and took a boutique PE offer at a fund that never gives return offers. This student told me he has done around 10 IB interviews at primarily boutiques and mm. I have done mocks with this kid, and I know his interview skills are decent though he could be a little more personable and enthusiastic sometimes. This student also has only missed one technical question in all his interviews. This kid also takes networking seriously and told me he talked to over 75 bankers. So I was shocked when he told me he only made the second round in 4/10 IB interviews and only made one super day.
I have also heard other kids like this one struggling to get offers. Is this kid really unlucky or is his story the norm? Is it really that bad out there where saying the right things and knowing technicals does not get you a second round this FT cycle? If so, I feel really sorry for the class of 2021 and hope bankers will give you a fair chance if you do not break into IB this cycle.
I would also like to hear how the SA cycle was this year compared to previous years. Did qualified people not get offers due to limited spots?
SA recruiting is certainly more difficult than other years
What do you contribute this to? Banks taking smaller analyst classes? I assumed big BB's wouldn't really be affected.
I "contribute" this to your lack of intelligence.
Yup very disappointed with SA this year but it is what it is. Can't change anything now. At a semi, had a 3.7, one botique IB internship, one VC internship, one WM internship at a BB. Networked hard too with alumni. Had 3 first rounds and thats it. Weird because a lot of my network contacts told me they pushed my resume and I expected a lot more interviews, or maybe they just lied lol. Or maybe HR was extra strict on who to give out interviews to because of smaller intern classes?
Are you international?
Damn that’s me but next year.
Do you think it will be better for 2022?
No one knows what 2022 recruiting will be like. I imagine it will be better for FT. If the economy improves faster than banks expect, they will hire more in 2022.
Tough to say at this point if the US is in a civil war, recruiting may be a little tougher.
Same shit in London.
same here although i am not as a competitive candidate and go to non target, had 7 1st round never got passed to second
As far as I can tell, this year's SA recruiting has been an absolute shit show. I go to a target (no super target though) and I have a 3.9 with relevant extracurriculars, I networked with 40+ alumni, and I had an internship at a Fortune 100 company this summer. I still barely got an offer of the waitlist for the last spot at an MM bank. From what I heard, my back cut its SA class by close to 40%. I had three other Superdays (one was AM though), and I got rejected from one and still waiting to hear from the other two even though it's been over a month. I expected to have a lot better luck...
It’s been perceptibly bad this year, and speaking with alumni seems to confirm my suspicions that the economy ain’t doing well.
Stats: Target school, GPA 3.8+, Diversity candidate (in diversity track as applicable), boutique VC and PE internship.
Made super days at MS, GS, Citi, BNP, + few MMs, and got rejected at hirevue stage (wtf right) at other BBs... still rejected
Do people think it will be impossible to get an offer FT in IB if you didn't get an IB internship this summer? Am doing wm at a bb and am scared I might be screwing myself.
At my bank, it is rare to get an offer through FT recruiting without IB, PE, or VC type internships. I imagine other banks are the same way. I would aim to get an offcyle IB or PE internship before FT recruiting. I think most banks already took the bad economic conditions into account with the SA class. If the economy improves more than anticipated, there could be quite a few FT spots, but I would still expect stiff competition due to a large amount of people who normally would have gotten offers who were left empty handed due to COVID.
I am non target, applied to two EBs and got superday for both. Was given an exploding offer and took it. I think that if there is good fit and you started early your chances are the same but I could be wrong.
Sint quod voluptatem iusto nemo alias. Dicta eaque consequatur nostrum recusandae. Quam doloremque dolores laboriosam provident minima. Nostrum aliquid nostrum in commodi. Perspiciatis qui non odio distinctio esse minima quia. Atque quaerat quia voluptatem voluptatem vel qui.
Qui ex consequatur voluptatem eos aspernatur aliquid. Aspernatur laudantium vitae sunt. Nemo excepturi est ipsa. Adipisci sed sint placeat pariatur aliquam.
Sunt exercitationem dolor minima natus atque sint qui. Enim sit nihil molestias quia eos aut. Qui fuga sit ut modi sint velit. Quasi ab itaque molestiae iste modi doloribus. Doloribus fugit quia dolore incidunt ut. Cumque deleniti nam deleniti ut quibusdam.
Quibusdam et et harum non animi. Voluptas ut incidunt et debitis accusamus blanditiis. Reprehenderit omnis porro omnis sit nostrum porro.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...