London 2023 Progress Megathread
Hi guys,
Surprised no one has made a thread for this year yet, so I thought I'd go ahead and attempt to create a more streamlined thread outlining the stages that firms are at in their recruitment cycles.
UPDATED AS OF Jan 6th, 2023
- Ares - Recruitment Finished (SA)
- Bain Capital - Recruitment Finished (SA)
- Baird - Recruitment Finished (OC)
- Barclays - AC’s out (SA)
- Blackstone - Offers out (SA)
- BofA - Offers out (SA)
- BNP - Offers out (SA & FT)
- Campbell Lutyens - 2nd Round Interviews (SA)
- Centerview - Offers out (SA)
- Citi - Recruitment Finished (SA)
- CS - Offers out (SA)
- DB - Recruitment Finished (SA)
- DC Advisory - Recruitment Finished (SA / FT)
- Evercore - Recruitment Finished (SA / FT)
- FT Partners - Offers out (SA / FT)
- Gleacher - Recruitment Finished (SA / OC)
- Greenhill - Recruitment Finished (SA)
- Harris Williams - Recruitment Finished (SA / FT)
- GS - Offers out (SA) / Hiring Freeze IBD (FT)
- HL CF - Recruitment Finished (SA / FT)
- HL Rx - AC’s (SA) / First Round (FT)
- HSBC - Markets AC's (SA)
- Jefferies - Offers out (SA)
- JPM - Offers out (SA / FT)
- Lazard IB - Filled from Spring (SA) / Recruitment Finished (FT)
- Macquarie - HireVue (SA)
- Mizuho - Offers out (SA)
- Moelis - Offers out (SA) / Interviews (FT)
- MS - Offers out (SA)
- NatWest - Don't apply here.
- Nomura - Offers out (SA)
- PIMCO - Offers out (SA)
- Piper Sandler - Offers out (SA)
- PJT - Recruitment Finished (SA & FT)
- PWP - Recruitment Finished (SA) / Interviews (OC)
- Raymond James - Recruitment Finished (SA)
- RBC - Offers out (SA)
- Rothschild - Recruitment Finished (SA & FT)
- SocGen - Offers out (SA)
- Temasek - Recruitment Finished (SA)
- UBS - AC’s (SA), S&T offers out (FT)
- WF - No Update (FT)
- WB - Interviews Out (OC)
If you know of any progress, please comment here so we can consolidate them. Feel free to comment on other firms, and I will add them to the thread.
Thanks!
Yes don’t apply to natwest markets, treat their interns like shit and poor return rates and an embarrassing strategy team
Is this going to be for FT or SA?
I will aim for both and try to specify them in the thread. It depends on what information people provide.
.
Following
My personal timeline looking for a SA role in the UK as an International Student
Macquarie IBD: Sonru/VI 15ish October
HSBC IBD: Job Sim 15ish October
Rothschild IBD (Leeds not London): Test 17th October
PIMCO Alts Business Management: got invited for VI yesterday and is due on the 21st of Nov.
RBS/Nat West Markets (I Know): Notified I passed test/VI and may be invited for an AC - 17th October
For everything else I've either been ghosted or denied, I did around 40 applications.
I also wanted to add that I might be able to go back home to Latin America and do a PE RE internship if I don't find anything but it would mostly be portfolio management at a small firm, no deal xp to be gained so I'm going to try and do some networking to force a job here. Am I crazy for preferring a SA here in the UK over it and should I try and secure that?
Greenhill: First round
CS: HireVue
Greenhill - tests out
Macquarie - tests out
Temasek - VI
When did greenhill tests come out, does this mean rejection if haven’t heard back since screening call?
Greenhill 2nd rounds are now out.
*This isn't my knowledge of the process, only my personal timeline (for IB/Advisory, 2023 start, LONDON)
GS FT - No response since application (30/08)
Evercore FT - No response since video interview (13/09)
UBS FT - No response since video interview (14/09)
Rothschild FT - No response since assessment feedback (29/09)
Nomura FT - No response since assessment (25/09)
JPM FT - No response since video interview (22/09)
MS SA - No response since assessment (19/09)
Citi SA - No response since application (23/09)
I can confirm video interview are still being assessed for JPM.
Had dinner with Evercore recently in one of their UK dinner networking events they held - FT recruiting is pretty much over, two different batches of ACs being held in the next couple of weeks.
Got the invite for the first round interview (SA) at MS on Friday
Markets or IB?
Research
GS markets superdays out
Has anyone been invited to PJT's Superday? Did 1st round interview a week ago but didn't receive any update yet
Following
BX has definitely given out some super days for SA for some of their teams.
Source: I got invited to one.
What team was this for? Is the process for PE done?
Hey, I am recruiting for Blackstone and got an email for a GMAT and CF test for BX? Can you please maybe PM or share your experience with it and how to prep? Thank you so much!
PJT did first AC last week with offers out by the end of the week
SA or FT?
SA
BofA AC's this week
IBD SA?
IBD SA? Did you have a phone interview or straight to AC from hirevue (I’ve heard of both in previous cycles)? If you had a phone interview, when was it?
RBC phone interview done last Friday
PIMCO Product strategy 1st rounds out (SA)
Baird sent HV after tests
Does anyone get 1st round for MS IBD SA?
Yes, second rounds too. Think I have also read about some ACs being out on the other thread.
Mind sharing the other thread?
If I have not heard back from a single place, are my chances basically gone?
Not at all, recruitment will start to pick up over the next few weeks - particularly for FT positions. I can't speak to the specific strengths of your profile, but it's a numbers game. Apply everywhere, focus on the variables you can control and when and if you do land an interview, make sure that you prepare as if it is the only one you will ever get.
Good luck. Feel free to pm me with any questions, happy to have a chat.
I hope this helps :)
Over the next few weeks? Why so late?
Jefferies - First Rounds Out
Greenhill - Second Rounds Out
Jefferies is assessing candidates against those from their university - Oxbridge this week.
Hi, would you mind elaborating on this? Are Oxbridge grads being pitted against each other and not the general pool?
Any update on Lazard FT?
Bump
Rbc telephone interviews are out
anyone know of what does the test for BNP consists of? It says “GM: GD Trading”. I can’t find much information about this specific test
PWP first ACs today, offers out tomorrow or Monday
Is this for SA or OC?
SA
Anyone got updates on MS or Macquarie FT? They seem to have started their SA recruitment but no word on FT yet
Applied for fixed income research FT at MS - heard nothing yet after the tests
I thought MS were only doing SA FI Research
I have received this morning HV from Macquarie (Received the test 10 days ago and did it 4 days ago)
FT or SA?
SA
-
CS first rounds are out (SA)
IB or S&T?
Bofa has sent out offers for IBSA
Jp AC tomorrow 11/10 IBD SA
Does JPM send AC straight after HV?
Nomura AC next week SA IBD
Anyone heard news from JPM private bank after hirevue?
Nah
Ok that's reassuring I guess, seems like only IBD is currently getting ACs at all the banks
Anyone knows what should I do if the slots for interview at MS are all filled? Will I be dinged due to my slow move?
Are GS 2023 IBD hirevues out?
Moelis sent some first round interviews today
Just received GS SA IBD HireVue. Anyone got insight on the questions?
When did you apply?
1 July (the first day they opened applications)
FT or SA ?
SA
Rothschild has already done first rounds and sent out invites to ACs for SA.
If anyone applied to Citi Capital Markets and was successful in an offer, lmk so we can create a groupchat for the 2023 class! 😊
Summer or FT?
Summer
MS AC OUT FOR IBD
When did you do second round?
What is AC?
Assessment Centre, it’s the final stage where applicants do a mix of activities over half a day. Usually consists of an interview, individual presentation and a group exercise
Nice! How long did you wait after second round to get AC invite? Do you know how long you can expect to wait?
Any updates on JPM IBD FT Analyst? Haven't heard anything since the hirevue
Me neither, annoyingly
Rothschild FT currently in ACs, they’re planning to do 3-4, of which at least 1-2 are already done
Have any offers been made from the AC’s that have already happened?
Not that I’m aware of, currently waiting to hear back - happy to update once I know
Do you know when the next ACs are being held? Will they be done by the end of October?
Don’t know for certain, but it wouldn’t surprise me if it was wrapped up in the next month. Under the impression, they do an AC, see who to take and then do another if they need more people.
Following
I know for sure PJT has some FT offers out (I’d say nearly over rec)
Source? I know they're only looking for 5/6 more
Was at AC - dinged - while ago and know they have been running ACs basically every week.. therefore I’d thought they are about to finish
UBS doing FT AC this week
No SA?
Don't know, I am not in the SA process.
Did anyone do Baird HV, would appreciate for any insights!
Yep - why Baird? Why MM? Why IB? Another behavioural Q I forgot. Despite having a CV with MM IBD/PE experiences, I received a rejection within a week of HV
Thanks!
Anyone on PE/ Private Asset Management/ PFG FT for GS/CS/BlackRock/ Schroders/ HSBC?
I'm in for BlackRock, Schroders, GS FT but nothing so far.
Neither, apart from HSBC - Altho saw that BlackRock were looking to limit hiring after 16% drop in AUM… peak
had blackrock accelerator interviews last week, some people have zoom interviews this Thursday for normal analyst applications. haven’t heard back from hsbc after job sim nearly a month ago, completed schroders sjt last week, also haven’t heard back.
What was the role for HSBC? They tend to be super slow after job Sim. Received the minimum pass benchmark email just a little over a month after job sim, and then received an invite to AC a few days after. This was for the IBD off-cycle.
Which department was your analyst scheme with at BlackRock? Yeah neither for Schroders, really keen at that program tho
HSBC have an AC out for their IBD off-cycle.
Anyone heard back from Roths AC last Friday? (14th Oct)
Anyone else applications stuck after tests/VI - feel like I haven't heard back from many places. I did two summer internships as well so not sure what's going on..
Same, seems a lot is at a standstill considering we are halfway into October.
Either that or I have been dinged for loads but just not been sent the rejection email yet.
Maybe they're hiring less given the state of the economy?
I think we have to keep ploughing through, what are you still waiting on?
Same here, waiting for c. 10 places. Did an IB SA at a BB before + target Master so not sure whats going on right now…
From what i understand (IBD SA):
UBS - FT ACs are out but I’m stuck at Sonru for SA
Citi - Some 1st rounds done for SA but for me still at Business Review
Barclays - No News After Tests+VI
Macquarie - Just did Sonru but didn’t go that well so expecting a ding
Nomura - seems like ACs are on, for me no news after tests
Only received rejection emails from MS, Baird, Jefferies, HL, Mizuho and Ares
I’m now considering UK SA to be a failure and trying to move ahead with other options, sad I worked towards this goal (internships,etc.) for the past 2-3 years
I think I'm at similar stages and firms to you.
Got a straight rejection from BAIRD.
My Citi SA application status is application submitted and its been a month. Any difference?
In the same boat here :/
I am starting to feel that no matter how much experience or great academic you have, it's just not a great time to be recruiting now.Loads of other candidates have the same profile as you, and the spaces are much more limited.
I've got multiple internships in related fields + IB and have recently branched out to PE, AM, Corp Dev, Consulting, Big4… I think realistically IB FT is just not going to happen for me in 2023.
Same, stuck on VI for UBS but for FT but seeing that ACs are out and that I didn't really do that well anyways that I've probably been dinged even though I haven't received a rejection email. I think everyone is on standstill for Barclays, seen no one get ahead after VI. Apparently, they do their ACs later around Dec/Jan times.
Anyone heard back from Soc Gen, did my tests over a motnh ago.
Citi, CS, BR?
Apparently some people have had first rounds with Citi. No offers yet from the formal application process as far as I know
My application hasn’t changed, it says it’s just submitted. Has been over a month - is that strange?
Jefferies AC are out.
For SA? Haven't heard/seen anything for IB analysts
Yes - SA
what else can we apply to for SA if we’re penultimate year and it looks like IB SA isn’t working out? anyone got any advice
Big4?
Apply to any industry which can be pivoted into IB after a year or two
I worked for a small LMM PE shop once where I met a guy who had worked in Corp M&A for some 2-3 years before being hired as a senior analyst or junior assoc at a T2/T3 bank in their TMT Team (London) where he stayed for some 3-4 years before moving to our LMM PE Shop :) So i guess everything’s possible if you’re willing to pay the patience game in this industry
has anyone the one way interview for capital one strategy? i can trade others
HL (RX) had 1st AC last friday, there will be a 2nd one
HL For SA? I still haven’t heard back for my full time application
You'll find out in the next 1-2 weeks - they're focusing on their SA programmes rn
Yes, HL RX SA - 2nd AC this friday.
For FT not sure about the timeline and on the number of spots
Has anyone heard back re: AC after Evercore or UBS video questions?
have you heard back from ubs after sonru?
Could someone please help me answer this question please?!
What should a company do with a high level on debt in todays rates?
here are some random unstructured thoughts:
well, first question you should ask is if there are any immediate maturity walls - if no immediate maturities and you have enough liquidity to service the debt you're likely okay to do nothing
if your debt have floating coupons and you are barely above water in terms of FCF already, in a low rate environment you can potentially refi and ease the interest expense burden
if you're dealing with a maturity issue and you can't refi given the current high rates, one option is to go to existing lenders and ask for an A&E (for a consent fee, ofc)
if A&E cannot be reached you might have to consider more serious options (debt for equity swap etc.)
has anyone completed the pimco ft video interview?
DC Advisory just sent out tests(19th Oct) after phone screening (late Sep/early Oct)
Yeah I got that too and finished it just now.
I thought we had a video interview as a next stage though - didn’t realise we had this test.
Maybe they need to cut numbers.
Yes can confirm, those with low results on the test are asked whether they want to be interviewed for their Capital Advisory Programme instead
Why do so many firms recruit through Dartmouth Partners? Honestly don't even feel like applying.
Yeah I noticed that too, they used to only recruit for 1-2 but I must of been through 6-8 this time around
I'm convinced that dartmouth partners is the reincarnation of the devil himself - have never worked with such incompetent, arrogant, disorgansied, disinterested group of human beings ever in my entire life
anyone got HV for GS PWM?
What does a finance graduate do in a bank? Are they rotated or go in a particular team?
Accounting.
Would you say it easy to move around from it? Or do people get stuck there?
Did someone get an update from Macquarie after HV?
Nothing
How long has it been for you?
14 days. Still counting
12 days since I did my HV. However given how recruiting is going for me at other places, I'm not expecting much here either
Don't be too harsh on yourself. This year sucks. Feels like JPM, UBS, MacCap and other banks put the IB SA processes on hold (probably due to the market situations, layoffs etc.) and even if they continue, classes might be downsized and filled with Spring Interns and diversity hires first...
Anyone heard back from JPM private bank or got HV from GSAM?
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