Networking with non-IB alumni at BBs/EBs
Hey all, freshman here who is hoping to begin networking for the sophomore internship process at BBs (at least the ones who still have sophomore programs!). Looking at my school's alumni at a number of banks, it seems that the vast majority are not in IB, yet I have heard that decisions for our IB process are made by a "campus team" that sits around a table and decides who to hire after resumes have been filtered by HR. In light of this info, I wanted to inquire as to the importance of non IB alumni at BBs in the hiring process. Are they part of the campus team that makes decisions? Or are they uninvolved and focused specifically on their own divisions? If they are just focused on their own divisions, do their referrals matter in determining who gets IB interviews vs who gets rejected? Is there importance in chatting with them beyond any genuine curiosity about their roles? Just curious as to how I should weigh the importance of specific connections and conversations as I go about this process. Thanks for any info you color you can provide on the issue
From my experience:
Are they uninvolved and solely focused on their own divisions?
Yes.
If they are only focused on their own divisions, do their referrals influence who gets interviews and who gets rejected?
No, but yes. Although they are not directly involved in the IB recruiting process, that doesn’t mean they don’t know anyone from IB (it could be other school alumni whom you couldn’t reach out to, or even people they know personally, and these individuals could potentially benefit your recruitment).
Is there any significance in chatting with them beyond genuine curiosity about their roles?
"Why firm" is likely to be the same regardless of the division, so you can ask them about the culture and other relevant aspects. Also, refer back to my point above.
Isn’t MS the only one with a remaining sophomore summer program?
Bofa has it, JPM has the insights programs, GS still takes some sophs too?
Oh ok, I heard that BofA cut their program recently but might be tweaking on that side
rumor is MS is axeing it for IB.
I've heard UBS and RBC still have them along w/JPM.
Baird has the Ascend to GIB for sophomores - full summer program
Generally not going to be able to help you with IB recruiting - campus teams are by division (and usually only the big targets have campus teams; if your school has no IB alums you likely are just in the general pool). They might be able to tell you generally about the firm, but at these large banks the different divisions feel like different companies.
Personally I would focus your efforts on people in IB, even if not alums.
Thanks a lot for the info- super helpful. We generally have a team at most banks but there are a few BBs/EBs where we just have a few alums, but no designated team. Out of curiosity, in that case, how does the recruiting process work? If I am fortunate enough to get an interview at a bank where we are a non-target, who makes the decision regarding my app? Will I be interviewed by alums like I would be at other banks, or will it just be a general "non-target team" and/or HR running the process? Thanks
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