Non Target Friendly EBs
Current soph Interning at a BB IBD for my soph summer, non-diversity, very non-target ..what EBs should I target for SA 2022?
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Also have very strong technicals knowledge and can cold email until my fingers fall off
How did you get an soph BBIBD from non target, and non diversity? Smelling some 🧢
> what EBs should I target for SA 2022?
All of them. There's not that many, why limit your efforts to only a few?
fair enough, which are the most non-target friendly I hear Centerview hates us
> I hear Centerview hates us
We all do.
In seriousness, it's called a non-target for a reason. It's going to be an uphill battle everywhere, but you can definitely still get something. There's no value in someone telling you a bank is more "non-target friendly". Just put in the effort and shoot your shot at all of them. Good luck.
They're all brutal to non-targets. Gotta have a few senior people pulling for you, I'm sure you'll stand out with a BB IBD experience
ya just gonna email absolutely everybody I can find
If anybody from Moelis is seeing this would love to get some advice, def my top choice
Don’t go to Moelis. You’ll hate your life, CVP is probably the ones that is the most open to non targets
wow thought the opposite good to know, already hate my life anyway might as well get paid
Just convince Moelis you'll be ready to grind 24/7 - they love scrappy non-target kids because they typically have a chip on their shoulder.
will do, def have a chip on my shoulder
pm me. happy to give some insight
hey thx you can PM me, or get off anon
It'll be tough but doable at any EB, especially given that you'll already have a BB internship before your junior summer. My guess is the toughest ones to break into as a non-target would be the newer boutiques like Raine, Liontree, M Klein. PJ Solomon is another one where they seem to exclusively recruit students from schools like Harvard or Michigan. If you're talking about a more established boutique like a Moelis, Lazard, Evercore, it will definitely be possible to get into the interview process through networking with people at those firms.
that makes lot of sense, thank you!
Happy to help! would also add that Qatalyst takes a suprisingly large amount of people from non-ivy league schools, so if you have a vested interest in tech banking specifically, I would try reaching out to people who work there
Ft partners
no I'm at a BB already
This is might be a B but it definitely is not an EB
lol hear the founder posts here a lot
also if anybody could comment who calls the shots mainly for EB recruiting for BBs it was mostly As/ASo, any difference at EBs?
Guys, I know it is the nature of how the brain works to speculate but this stuff is pretty random. Apply to and network with all of them, it is all there is to it. There is a lot going on behind the scenes that you don't know about. Which MD is pulling for his alma matter which may be a semi-target or whatever...Trying to answer these questions is at best very difficult because there are 1mm different dynamics at play and it changes over time.
makes sense, understood just gotta hustle
It is about YOU...network hard, be nice/humble, don't get discouraged. Don't attribute everything to your school.
so true
Just hustle it out dude, also from non target at EB, good you had BB before junior summer, how'd you land that with non diversity?
thanks man lots of networking to say at the least
PJT SA / Park Hill hires a lot of non-target analysts these days.
What's Park Hill?
I think it's the real estate group
Pretty much all of the banks less PJT take a fair amount of non-target kids. Centerview is elite but tough to target, since their recruiting is so late. Hopefully you have an offer from somewhere else by then...just network your ass off everywhere and you will be fine (speaking from personal experience).
Thank you, I have no alumni in any of these firms but lots of nontarget people usually reply back hope more do when I say I'm an incoming BB IBD SA so they know I'm competent
Even PJT M&A takes a fair amount of nontarget kids nowadays -- its really only RSSG that mainly sticks to their targets
good to hear!
Yup. Hella nontargets everywhere nowadays
PJT M&A and Restructuring staff from the same pool for analysts in London. I.e. there is no distinction between the two for recruiting there.
PWP, Moelis, and Evercore seem to take non-targets. PWP takes basically 70% of the class via their diversity program where they are a bit more nicer on non-targets. Moelis cares really about the person and the mentality and some non-targets cut it cause they grind a lot as you can imagine. Evercore has a lot of group besides M&A and RX that takes non-core.
good to hear, I'm non diversity but PWP seems solid
I thought Evercore was only M&A+RX?
They have ECM
PWP and Moelis are very open to "untraditional" schools (i.e. not your typical targets). On the other end of the spectrum, Evercore and Lazard are probably the least friendly (very heavy on targets)
thank you!
Moelis has its own set of targets that it heavily recruits from... like UMich, UPenn, Harvard, IU Kelley, and UT Austin. Not all are mainstream targets but for Moelis they are
Thank you for confirming that Moelis is open to non-traditional schools like IU Kelley, which isn’t a target but gets recruiting from Moelis
Also big question, when should I start networking Jan or Feb???
Moelis for sure.
If anybody from Moelis is here please PM me lol
You're anon you fuck
Looking at the CVP superday list for 2021 this year, like 70% of the kids came from Ivy+, 20% from top public schools, and the remaining 10% from the most random assortment of schools I've seen in finance. Don't know how the actual SA class turned out school wise but the firm is clearly open to interviewing people from wherever, just need to get the interview.
appreciate you looking for me, do you know who calls the shots for recruiting at CVP?
I do not, but everyone from analysts to the co-founders were involved in the superday so I'd guess it's rather holistic.
CVP is really interesting. Obviously majority representation from the Ivy’s but if you check LinkedIn, you’ll find kids from random schools like Amherst, SMU and Illinois.
Their interview process is really tough but if you can get through it, they don’t seem like they discriminate.
Don’t know if one specific person “runs” the interview process. Seniors are super involved throughout.
Lmao, how did you have the list of interview candidates?
Co-founders gave a pep talk prior to the superday and the invite email to that was not Bcc'd so you could see the email of everyone who was doing the superday which were 99% school emails
PWP
how much do they take from diversity?
a lot. I heard SA 2021 was almost half from diversity
shoot your shot at all of them
will do
Maybe someone mentioned it above, but I know Ducera Partners is very friendly to non-targets. Their analysts are almost all non-targets or semi-targets. Fantastic restructuring group. They are probably not considered an "elite" boutique, but definitely a good learning experience. my brother worked there for a few years
can you pm me? have a couple Qs about ducera
How did you land the sophmore BB offer
Non-target here at an EB. I found at least a couple people at all firms willing to network, with the exception of Evercore NYC. Talked with some people from EVR menlo, but never got responses from NYC. Who knows. Another note--I generally found that people at smaller firms were more willing to chat than those at BBs.
In general, it's just about networking your ass off and building some level of familiarity with people at the firm--at the firm I'm currently at, I had spoken to 8-10 people from analyst up to VP in multiple industry groups (and met a few of them for coffee) before I walked into my SA superday. At that point, you're nearly on home turf and it's difficult to blow the interview.
Thanks for that! Ya I'm gonna start sending out some cold emails in 2 weeks or so
Also can I PM you?
I'm going to stay on anon, but ask away here--people will get the benefit of reading our discussion, too
Rich handler posted something on his IG with JEF numbers and having something like 60% of incoming AS1s being from non-target schools. Idk anything about the culture/work life balance/etc. but hope this helps
Jeffeires is a MM not an EB, OP has a BB soph internship, won’t go to a MM
you gotta understand this is similar for all large banks because “official” target schools are often only ~8-12 schools at 2-3+ analysts each. for an analyst class size around 80, most other candidates are “non targets”
technically speaking, harvard is a “non target” at jefferies.
Evercore takes Florida kids .
I believe from their MSF program (which is only for UF undergrads)
Someone mentioned that it will be hard to recruit at EBs if you have a sophomore BB internship. Can someone explain why? I am interning at a top MM bank for my sophomore internship, but will that only put me at an advantage?
A BB sophomore IB internship would put anyone at a strong advantage. Whoever said that must be very insecure.
Confirming that this shouldn't be an issue. Currently at an EB and the vast majority of my analyst class when I was a SA had prior internships in the space so a BB sophomore position wouldn't hurt you at all (it would help IMO)
Got it, must have misinterpreted what they said. Is a top sophomore banking MM internship still a strong advantage, just given brand name and selectivity?
You’re stressing too much over this. It’s relevant experience and a recognized name, so it will help.
When I’ve looked at resumes I just look for experience. I came from a non target and 2 no-name lower MM banking internships, so I can’t really judge people on firm pedigree. Obviously if I recognize the bank that’ll probably help but I’d rather have a banker from a small firm than an unrelated role at a more well known bank
Went to a non-target, can say getting traction at any EB is extremely hard. I had a 3.9 GPA, was in couple finance orgs, did a big 4 internship and a PE internship, but still very few people got back when I cold emailed them. Only got 2 first rounds and one Superday and didn't get the offer. It's not impossible but very few people will get back so when someone does, make sure to make the most out of it. Starting at a Top BB in July and the process was a lot easier.
Hello OP, I was wondering how did you end up getting a sophomore internship as a non diversity? Incoming freshman and would love some advice
Hey Could You PM me? I had some questions about landing a sophomore internship (non-diversity)
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