Bored in the Q, so very happy to help anyone who has any questions on the IB recruiting process. If you have questions after reading this, Mergers and Inquisitions website is great resource. Some general info and advice:
1) How much does GPA matter? 3.5 generally the cutoff for most BBs, but a low GPA can definitely be overcome by hard networking. Beyond getting the 1st round interview, I don't think GPA matters much. Banks won't care if you Pass/Fail classes sparingly to keep GPA high.
2) How to write a good resume? Template on Mergers and Inquisitions website and articles walk through some excellent advice.
3) How to network? Aim for 2-3 calls a week! Aim to have 2-3 good connections at each bank you speak with (Higher up the better, I think VP is level at which someone can definitively get you an interview). Use LinkedIn/school alumni database. Look up bank on LinkedIn -> Go to "People" section and put the name of your College in keywords then search -> Create an Excel sheet with names/banks/positions of school alumni -> Google the email formats of the banks and cold email alumni from your SCHOOL EMAIL and ask graciously for quick 20min calls to learn about their role (attach resume). (If you notice they played college ball or can pivot the conversation to something like sports that'll probably be a much better convo, bankers would much rather take a 20min break than talk about finance!) If you don't get a response, wait a week then follow up with another email (wouldnt go past 3 follow ups). I've made great connections after only getting a response on 3rd email, some bankers wait to see who follows up to see who REALLY wants it!
4) How do I follow up when networking? - Ask alumni if they could meet you in person to chat in NYC etc. (I emailed ~15 people to do this and only got to meet 3 people but this helped me immensely with landing my BB IB SA role) - Update alumni with new internship you've gotten - Update alumni/ask for additional advice when you have upcoming interview/superday at their firm - Send an article on an interesting topic that you talked about (doesn't have to be finance!)
5) What resources are most helpful? and Walk Me Through Your Resume? - I highly recommend articles on Mergers and Inquisitions and Buyside Hustle. M&I especially helps develop a genuine understanding of IB (What is a day in the life like? What is banking?) 400 questions guide, Breaking into Wall St, WSO guides were most helpful for me. Technicals are just as important as behaviorals. - "Your Story" or "Walk Me Through Your Resume?" is the crucial 1st impression. Briefly introduce yourself/hometown/school/extracurriculars -> what got you interested in finance -> 3 things you did to gradually learn more i.e. (took finance classes-> joined investment club -> interned in wealth management soph summer) -> why you're here today interviewing for IB/Conclude
6) Virtual Interviewing Tip and Seeking Help from Upperclassmen - Throw a few books under your laptop so your eyes are actually level with the camera. This way, eye contact will look natural to your interviewer! - Ask upperclassmen who've gone through process to chat with you/mock interview etc via LinkedIn/Email etc.
7) What is the IB recruiting timeline like? - Early firms like EBs and Citi/CS (last year) /MS opened in February, GS/JPM/BofA opened July 1st. The process is moving back. Be ready for Hirevue 1st round anywhere for few days to month after your application. Some banks give Hirevues to nearly anyone over GPA req, others are selective (BofA). I've received Superday invites as far as a month after 1st round.
Hope this helps and good luck!!
How have the superdays been at CS/BofA/Barclays?
Would love to know more about strategies that you had to nail the superday
My Superdays were three 30min interviews, 2 behavioral, 1 all technicals (GS is two 30min interviews). Interviewers can range from Associate to Group Head. (Obviously, the more senior the more important to make a good impression). Technicals were mostly 3 valuation methods, basic accounting and "whats one thing you've followed thats interesting in the market?" If and only if you know you would 100% accept an offer from the firm you are interviewing at, I would tell every interviewer at the end "This firm is my No. 1 choice and I just wanted to make it clear that if given an offer I'd be so thrilled and definitely accept it on the spot" Make sure to email your interviewers thank you ASAP after interviews are over!!! I was given an offer via phone call later on the same day as my superday so you want to make sure your interviewers have the chance to see your Thank You email before they enter the decision room!
Feel free to PM me with additional questions
I can't pm cuz of the stupid limit, can you pm me?
Were your thank you emails short or were they long and personalized
Is one referral enough from an analyst at a BB? It seems like they have such a large firm that one analyst not make the difference
I would say no, I had one referral from analyst at BB, and it didn't do anything for me. Higher up the better, I think VP is level at which someone can definitively get you an interview. Try to get multiple people vouching for you at each bank, 2-3 maybe.
Is it possible to get interviews without any networking if you are at a target?
For non -targets how were you able to get a VP or MD referal at all the banks you applied to . Were they alumni only?
this is super helpful bro! thanks a lot
Since nobody has said it yet... incredibly informative, detailed and useful post. Thanks for the info.
I think my biggest weakness when it comes to interviewing is the behavioral portion. How would you say someone can differentiate themselves and stand out with the situational questions?
With what part of behavioral are you struggling? Most guides advise to create 3-4 general stories about yourself that you can briefly talk about to answer most behavioral questions. Reflect honestly and type some bulleted stories in a Word doc, revise accordingly. Answers should be relatively brief like 1 min, and I think mock interviewing is very helpful to practice. Qualities bankers look for are: positive attitude, intellectual curiosity/willingness to learn, hard work
Feel free to PM me
I wouldn't say there are any specific behavioral questions, just wondering how I can make my answers unique and stand out. I think at the end of the day most people will use the STAR method, but I just want to be able to differentiate myself and not bore them with my answers
What was your format for the third follow-up email?
I literally would just write “I just wanted to follow up” and would resend the same email
When did you start actively networking? Did you attach your resume when sending out emails? Thanks for doing this!
Yes, attach your resume. I started actively networking the fall of my Sophomore year which was plenty of time.
thanks for this man, great stuff. what are you doing with your time now that you're done with recruiting?
Thanks! Currently doing my IB internship virtually. I think if youve gotten an offer you should relax and just enjoy college while you can. Some people study/take GMAT (scores valid 5yrs?) or maybe even study for PE interviews senior year. Obviously not a must especially the PE stuff but up to you.
It’s great to see people on WSO doing this
How do you suggest differentiating your technichal answers from others? Or is giving textbook answers sufficient? (Ex- Q. What is Equity Value? A. Just a one sentence definition)
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