Placement Process
Hey, I'm an incoming summer intern at an investment bank this year -- I have to submit an interest form for groups ahead of the placement process. There are about 15 groups total, and I believe I will have to rank 5-6 groups at the end of the process. Does anyone have any advice for how many groups I should be talking to? I don't want to overload myself, but I want to make sure I'm learning as much as possible in order to make an informed decision. Also, sorry for the lack of specification, but this is my first post, and I don't want to phrase anything wrong and piss people off...I've only been lurking on here for a few months and getting questions answered through other people. Thank you so much for any help!!
When it comes to the group placement process, here's what you need to know based on the most helpful WSO content:
Number of Groups to Target: Aim to connect with 7-8 groups. This strikes a balance between being thorough and not overwhelming yourself. While you’ll ultimately rank 5-6 groups, speaking to a slightly larger number ensures you have enough information to make informed decisions.
Strategic Networking: Focus on groups that align with your interests and career goals. For example, if you're interested in M&A or FSG (as many are), prioritize those groups but also include a mix of others to keep your options open. Networking with people who have a connection to the group’s focus or who share a common background with you (e.g., same school or relevant experience) can increase your chances of meaningful conversations.
Quality Over Quantity: It’s better to have a few meaningful conversations than to spread yourself too thin. Most people in these groups are busy and may only take 1-3 calls, so make sure your outreach is targeted and thoughtful.
Be Prepared: Before reaching out, research the group’s focus and recent deals. This will help you ask insightful questions and demonstrate genuine interest.
Meritocracy and Performance: Remember, the placement process can be competitive, especially for top groups. Performance during the internship often plays a significant role in final placement, so focus on excelling once you start.
Avoid Overthinking: While it’s natural to feel nervous, don’t let it hold you back. Most people in the industry understand what it’s like to be in your position and are willing to help if you approach them respectfully.
By following these steps, you’ll position yourself well for the placement process while avoiding burnout. Good luck!
Sources: 10 Friendly Reminders While Networking for SA Programs (from a BB Analyst Perspective), Non-Target to MM IB: My Advice, 20 Most Frequently Asked Questions - London Edition, JPM SA/FT IBD GROUPS and Analyst Program, Miserable in consulting, how to improve situation?
I picked my top 3 groups and allocated my time pretty evenly across them. If you have a clear #1 group, make it clear to them and tell them. Still network with ~2 other groups though as backup. Avoid networking with groups you have no interest in, they can potentially rank you highly and you could get stuck with them if the other groups don’t rank you well.
For your top 3, how in depth did you go in relation to research/what kinds of question did you end up asking? Trying to express my genuine interest without completely overdoing it
Tbh I honestly tried being as conversational as possible rather than listing off questions. For the questions you do ask, I’d make sure you go a bit below surface level to show that you actually know what they do in that group and that you’re interested in it.
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