I am currently applying for 2020 SA positions and was wondering what 'referrals' from bankers actually mean. When an analyst says they will submit your CV to HR is this useful? How does it compare when an Associate or VP says they will? At what point can you relax and start focusing your efforts on other banks/prep for interviews?
It would be great to get some insight on this.
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No, having somebody on the inside recommend you for hiring isn't helpful at all. It just goes into a communal recycling bin and then all the bankers sit around every Friday laughing at the gullible college kids thinking they're actually trying to help when they really just use all the resumes for paper airplane contests (heavier paper is highly coveted for superior flight characteristics).
What kind of paper do you guys prefer for resumes? I assume top tier (think Georgia pacific/Procter and gamble)
I know it’s pretty obvious they can’t only help but definitely curious the role of referrals in the more automated/regulated SA recruiting processes banks like jpm/Goldman are doing when most of it is online/run thru HR? Can VP+ level contacts still get you superdays?
On a more serious note, yes referrals are helpful even in more automated / regulated processes. As you get more senior the more weight a referral carries (i.e. more likely to get you to a superday), but even analyst referrals can be very meaningful in at least getting you a look via a phone screen instead of being lost in the black box forever.
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