SA 2026 What banks are still recruiting?
Coming from a non-target with a very competitive resume. I'm struggling to find traction, my state school has 10-ish banking alum. I'm hearing many banks in SF are closed/closing rounds. I've only had first rounds at Lazard, FT partners, and Ducera along with a lot of hirevues.
What banks/areas can I still network with? I'm open to anything. I had a conversation with an MD from a BB who decided to help me and said he could get me a super day at this BB if I had another super day lined up by myself.
I've applied to everything on WSO, RecruitU so far. Any tips?
Based on the most helpful WSO content, here are some actionable tips and insights for your situation:
Target Boutique and Middle Market (MM) Banks: Many boutique and MM banks tend to recruit later in the cycle compared to BBs and EBs. Focus on networking with firms that are known to be more open to non-target candidates. Examples include Jefferies, Piper Sandler, William Blair, and Houlihan Lokey. Additionally, smaller regional boutiques or specialized firms in your area might still have openings.
Leverage Your Competitive Resume: Since you have a strong resume, make sure it’s tailored to highlight relevant experiences and skills. Use the WSO resume template or similar formats to ensure it stands out. If you’ve had prior internships, emphasize the impact and results of your work.
Expand Networking Efforts: With only 10 alumni in banking from your school, cold outreach is key. Use LinkedIn to connect with professionals at target firms, especially those who might have non-traditional backgrounds. Focus on building rapport and asking for advice rather than directly requesting referrals.
Follow Up Strategically: For banks where you’ve completed HireVues or first rounds, follow up with your contacts or HR to express continued interest. A polite and professional follow-up can sometimes nudge your application forward.
Capitalize on the MD’s Offer: The MD’s willingness to help is a significant opportunity. Use this as leverage to secure another superday. Reach out to your network and mention that you’re actively in the process and would appreciate any guidance or opportunities to interview.
Focus on Regions Beyond SF: If SF rounds are closing, consider other regions like Chicago, Houston, or even smaller financial hubs. These areas might have less competition and more opportunities for non-target candidates.
Keep Applying and Networking: Continue applying to every open position you find on platforms like WSO, LinkedIn, and company websites. Simultaneously, keep grinding on networking calls and emails. Persistence often pays off.
Consider Alternative Roles: If IB opportunities are drying up, explore adjacent roles like corporate finance, valuation, or private equity internships. These can serve as stepping stones to IB in the future.
For more detailed advice and resources, check out the WSO threads like https://www.wallstreetoasis.com/forum/investment-banking/non-target-rec…</a">Non-Target Recruiting Guide Part I: Resume and Networking. Good luck, and keep pushing forward!
Sources: Non-Target Recruiting Guide Part I: Resume and Networking, Non-Target Recruiting Guide Part I: Resume and Networking, https://www.wallstreetoasis.com/forum/investment-banking/non-target-to-bb-ib-sa?customgpt=1, 2019 FT Analyst Recruiting Timeline, Simplified Guide to Breaking in as Non-Target (EASIER THAN YOU THINK)
Tons of banks still recruiting
Could you elaborate on your advice?
Lot of top MMs (Jeff, HL, etc.) are still recruiting
Most MMs and lots lots lots of boutiques. Only finished processes is elite stuff rlly
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