Based on the WSO Dataset, it's evident that the landscape of FT recruiting can be quite dynamic and varies year to year. For instance, some banks may not open their FT recruiting immediately due to various factors such as economic conditions or internal restructuring. However, historically, there are always some banks that continue to recruit for FT positions, often depending on their performance and market conditions.

For the 2025 analyst class in London, if the pattern holds, you might see a similar approach where some banks delay their recruiting process, while others might proceed as usual. It's crucial to stay informed through reliable channels and be prepared to apply as soon as positions are announced. Networking and staying "in the loop" with industry insiders can also provide a significant advantage, as sometimes information about openings can circulate informally before official announcements are made.

Sources: What will FT Recruiting look like this year?, 2019 FT Analyst Recruiting Timeline, Q&A: Incoming IB analyst – international student, survived FT recruiting twice…, Firms Still Recruiting for 2020 Full-Time Analysts, https://www.wallstreetoasis.com/forum/job-search/ft-recruiting-timeline?customgpt=1

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